Personal Loan on Your Salary: Work Out What You Can Carry

Personal Loan on Your Salary: Work Out What You Can Carry

The loan on your salary that suits you depends on what is left each month after essentials, savings and existing equated monthly instalments (EMIs). That remainder, your EMI room, converts into a loan amount.
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Rs. 40,000 - Rs. 75 lakh

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In summary

To size a loan on your salary, start with take-home pay, subtract essentials, savings and current EMIs, and the balance is your EMI room. Convert that room into a loan on your salary using your rate and tenure. A Bajaj Finance Personal Loan offers Rs. 40,000 to Rs. 75 lakh, subject to the lender's assessment.


  • EMI room is what is left, not a share of gross salary.
  • The same room supports more at a longer tenure.
  • The lender's offer is set by its own assessment.
  • Harish's room of Rs. 15,000 supported about Rs. 4.3 lakh.

Know your EMI room? Check your loan offer with your phone number and a one-time password (OTP) → apply online → receive funds within 24 hours* of approval.

How do you find your EMI room?

List your take-home pay, then subtract every fixed cost and your savings. The table shows Harish's figures, the starting point for a loan on your salary.


LineHarish's monthly amount (Rs.)
Take-home pay62,000
Rent, groceries, bills and transport−35,000
Existing EMI (two-wheeler)−6,000
Savings−6,000
EMI room for a new loan15,000

Last updated: 24th October, 2026


Use real figures from 3 months of bank statements when sizing a loan on your salary. A guess here carries into every number that follows.

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How does EMI room turn into a loan amount?

The EMI formula, run in reverse, turns a monthly EMI into the loan it can repay at a given rate and tenure. The table shows 3 levels of EMI room at an illustrative 14% per annum, as a guide to a loan on your salary.


EMI room (Rs.)Loan amount at 36 months (Rs.)Loan amount at 60 months (Rs.)
8,0002,34,0713,43,816
15,0004,38,8846,44,655
25,0007,31,47310,74,425

Last updated: 24th October, 2026


For a loan on your salary, stretching from 36 to 60 months lifts the amount by about 47%, but total interest rises too. The rate you are offered also changes these figures.

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What else shapes the offer?

When you apply for a loan on your salary, the lender's offer reflects its own assessment of your income, CIBIL score, existing EMIs and employer, so it may differ from your own figure. Planning your EMI room first means your loan on your salary is one you can carry, whatever the offer allows.


Worked example: Harish in Belagavi

Harish is 34 and works as a salaried foundry quality supervisor in Belagavi. His take-home pay is Rs. 62,000, his CIBIL score is 763, and he pays Rs. 6,000 a month on a two-wheeler loan. His EMI room of Rs. 15,000 pointed to a loan on your salary of about Rs. 4.3 lakh at 36 months. He needed Rs. 4.3 lakh to set up a home office and buy equipment, at an illustrative 14% per annum.


EMI = P × R × (1 + R)^N ÷ [(1 + R)^N − 1]. Here P = Rs. 4,30,000, R = 14 ÷ 1,200 and N = months.


TenureMonthly EMI (Rs.)Total interest (Rs.)EMI as share of take-home pay (%)
36 months (3 years)14,69699,07023.7
60 months (5 years)10,0051,70,32116.1

Last updated: 24th October, 2026


The 36-month EMI of Rs. 14,696 fits inside his room, while 60 months would cut it by Rs. 4,691 and add Rs. 71,251 of interest. The processing fee is up to Rs. 17,759. Harish chose 36 months, keeping his loan on your salary within the room he had worked out.


What can delay approval: a CIBIL score below 650 or existing EMIs that take up a large share of your income. Names or addresses that do not match across documents, and more than one loan application in the same month, can also slow it down.


Worked out the loan on your salary you can carry? With a Bajaj Finance Personal Loan, you can borrow Rs. 40,000 to Rs. 75 lakh, subject to eligibility. Check your loan offer with your phone number and a one-time password (OTP) → apply online → receive funds within 24 hours* of approval.

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Which criteria does the lender check?

Your EMI room sets a sensible loan on your salary; the lender's criteria set eligibility. A Bajaj Finance Personal Loan asks that you meet the criteria listed below:


CriterionRequirement
NationalityIndian
Age21 years to 80 years.
Employed withPublic, private, or multinational companies (MNCs).
CIBIL Score650 or higher.
Customer profileSelf-employed or Salaried

*You should be 80 years or younger, at the end of the loan tenure.

Last updated: 24th October, 2026


Meeting these criteria does not guarantee approval, which depends on eligibility, verification and credit assessment. No collateral or guarantor is required.


You may need the following documents, subject to your profile and application:


Document categoryAccepted options
KYC proofAadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
Identity proofPAN card, Real-time image / photograph
Employment proofEmployee ID card, Letter of Allotment of Accommodation Issued by Employer
Income proofSalary slips — last 3 months, Bank account statements — last 3 months
OthersPension order, Utility bill, Phone bill, Piped gas bill, Property / Municipal tax receipt

Not every applicant needs every document. Confirm the final list of required personal loan documents during your application.

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How does the rate change what your EMI room buys?

The same EMI room supports a different amount at each rate. The table shows Rs. 15,000 of room at 3 illustrative rates, a guide to the loan on your salary you can carry.


Rate per annumLoan amount at 36 months (Rs.)Loan amount at 60 months (Rs.)
12%4,51,6136,74,326
14%4,38,8846,44,655
16%4,26,6576,16,826

Last updated: 24th October, 2026


A 4-point gap in rate shifts the amount by about Rs. 25,000 at 36 months. Tenure moves it far more, so set the tenure first, then compare rates.

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How can you carry more on the same salary?

If your EMI room is too small for the need, change one of the inputs before you apply. The table shows the options for a larger loan on your salary, and the trade-off of each.


LeverEffect on amountTrade-off
Close a small existing loan firstRaises your EMI roomUses savings
Choose a longer tenureRaises the amount for the same EMIMore total interest
Trim a fixed costRaises your EMI roomLess spending elsewhere

Last updated: 24th October, 2026


Never cut savings to zero to make room for a bigger loan on your salary. A small buffer protects every EMI that follows.

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How do you apply once you know your figure?

You apply for a Bajaj Finance Personal Loan online in five steps:

  1. Check loan eligibility: Enter the required loan amount and repayment period, then click "CHECK LOAN OFFER".
  2. Enter personal details: Enter personal, financial and employment details to receive a personalised offer.
  3. Loan offer: Review the offer details and adjust the amount or tenure to suit the applicant's needs.
  4. KYC verification: Complete KYC and verify bank details.
  5. Talk to loan specialist: The application is submitted and an executive contacts the applicant about the next steps.

The process may differ for new and existing customers, and some customers may need to provide additional documents. Keep the offered EMI inside the room you calculated.

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Key offerings: 3 loan types

  • Flexi Hybrid Loan
  • Flexi Dropline Loan
  • Term Loan

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    You can pay interest-only EMIs for up to 36 months, after which, the EMI will consist of both, the principal and the interest. EMI is applicable only on the withdrawn amount.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest on the loan amount you withdraw.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Amount disbursed in one go
    The entire loan amount is disbursed at the start.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest.

  • Flexi facility charges
    No Flexi facility charges.

Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of interest per annum

10% to 30.5% p.a.

Processing fees

Up to 4.13% of the loan amount (inclusive of applicable taxes).

Flexi Facility Charge

Term Loan – Not applicable

Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes)

Will be deducted upfront from loan amount.

Bounce charges

Rs. 700 to Rs. 1,200/- per bounce

“Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason.

Part-prepayment charges

Full Pre-payment:

  • Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment

  • Flexi Term (Dropline) Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

  • Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.

  • Not Applicable for Flexi Term (Dropline) Loan and Flexi Hybrid Term Loan.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Annual maintenance charges

Term Loan: Not applicable

Flexi Term (Dropline) Loan:

Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.


Flexi Hybrid Term Loan:

Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure

Credit guarantee scheme feeUp to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount
Credit guarantee scheme renewal feeUp to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year.
*Renewal Fee to be collected only for 3 subsequent financial years.
 
**If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated.

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Frequently asked questions

Working it out

Changing the figure

How much personal loan can I get on my salary?

The loan on your salary you can carry depends on your EMI room and the lender's assessment. Subtract essentials, savings and existing EMIs from your take-home pay to find the EMI you can carry, then convert it to a loan amount at your rate and tenure. At 14% over 36 months, Rs. 15,000 of room supports about Rs. 4.39 lakh.

Use take-home pay for your own planning, since that is what reaches your account and pays the EMI. The lender assesses your income from your documents and may look at more than one figure. Planning on take-home pay keeps your loan on your salary within what you can actually afford, month after month.

Yes. The same EMI repays a larger loan on your salary over a longer tenure. At an illustrative 14%, Rs. 15,000 a month supports about Rs. 4.39 lakh over 36 months and about Rs. 6.45 lakh over 60 months. The longer tenure adds interest, so borrow only what you need.

Yes. Every existing EMI comes out of the same take-home pay, so it reduces your EMI room. Harish's two-wheeler EMI of Rs. 6,000 cut his room from Rs. 21,000 to Rs. 15,000. Closing a small loan first can raise the loan on your salary you can carry, if your savings allow it.

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000