27 June, 2025 | 11:01 IST
If you earn Rs 15,000 a month and need money fast, you can be eligible for a personal loan. These are helpful financial tools to cover expenses like medical emergencies, home repairs, weddings, and more. Since these loans are unsecured, there is no need to pledge any assets.
While income is an important factor, lenders also look at your credit score, job stability and overall repayment capacity while offering personal loans for Rs 15,000 salary.
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A personal loan is an unsecured form of credit offered by banks, NBFCs and digital lending platforms, without the need for any collateral. With just a few simple steps, eligible borrowers can access the required funds, which are then repaid in fixed monthly instalments (EMIs) over a pre-agreed tenure, typically ranging from 1 to 5 years.
Unlike secured loans that require assets as security, personal loans are sanctioned based on the applicant’s creditworthiness, income stability and repayment capacity.
To make the borrowing process easier, Moneycontrol has partnered with eight leading lenders, offering direct access to instant personal loans of up to Rs 50 lakhs. Interest rates start at just 10.5% per annum, with no hidden charges.
The total loan amount an individual can get with a monthly salary of Rs 15,000 depends on various factors that are taken into consideration by the banks and NBFCs.
Typically, lenders require the applicant to be an Indian citizen between 21 and 60 years of age, with a stable job or source of income.
While Rs 15,000 is often seen as the minimum income threshold, eligibility also depends on other key factors such as your credit score (generally above 685), job experience (usually 6 months to 1 year in the current role), and overall repayment capacity.
To improve your chances, it is advisable to maintain a healthy credit score, limit existing debt, and consider applying with a co-applicant if possible.
Another key factor is stable employment. Most banks prefer borrowers who have at least one year of total work experience and have been employed with their current organisation for a minimum of six months. This requirement can vary depending on the lender’s internal policies.
Most lenders set a minimum monthly income requirement for personal loans, which usually ranges between Rs 20,000 and Rs 30,000. That said, there are a few lenders who also cater to individuals earning Rs 15,000 per month. Being employed with a reputed organisation and maintaining a strong credit score can significantly boost one’s chances of getting the loan approved, even at the lower end of the income bracket.
A credit score is a three-digit number that reflects your creditworthiness, based on your credit history and repayment behaviour. This plays a crucial role when it comes to loan approvals.
Applicants with a credit score of 750 or above have the highest chances of getting their personal loan requests approved, often with better interest rates and higher loan amounts.
Those with scores below 750 may still get a loan, but typically for a lower amount and at a higher interest rate.
Here's a list of top banks and NBFCs offering personal loans at Rs 15,000 monthly income:
People earning Rs 15,000 per month can get personal loans from Axis Bank, Union Bank of India, IndusInd Bank and Tata Capital, though certain conditions apply.
Through Moneycontrol, one can get 100% digital and instant personal loans without any paperwork as well as at a low processing fee. The quick and easy application process requires you to enter key details and complete the KYC verification.
In order to apply for a personal loan, an individual is required to provide the following details:
If you earn Rs 15,000 per month, there are several banks and lending institutions that provide personal loans, without the amount depending on your creditworthiness. Ensure you explore your options before shortlisting the loan option.
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