What factors affect the eligibility for a personal loan?

Several factors impact the eligibility for a personal loan , here is a quick look: Credit Score Monthly income Nationality Age Existing debt Relationship with the lender

Personal Loan for Rs. 12,000 Salary - Apply for Rs. 12,000 Salary Loan

With flexible terms and competitive rates, you can secure a personal loan salary Rs. 12000, with an interest rate that fits your budget. Bajaj Finserv now offers loan of up to 40 lakh, making it easier than ever to meet your financial needs. Whether you're planning a wedding, funding education, or managing unexpected expenses, a personal loan for salaried person with salary of Rs. 12000 can provide the necessary funds quickly. You can apply for a personal loan online through various platforms, ensuring a hassle-free experience. Visit Bajaj Finserv today to explore your options and find the best deal tailored to your requirements.

Speedy approval

Get instant approval once you meet our simple eligibility criteria.
Same-day* access to money

Your loan amount is transferred to your bank account in just 24 hours* from approval.
Upto 96 months to repay

Repay your loan by choosing a tenure of up to 8 years.
Zero collateral and basic documents

No need to pledge any security; complete your paperwork to get your personal loan instantly.
Online management of your loan

Access your loan account via our customer portal, My Account, to see your statements and manage your repayment.
Complete transparency, no hidden fees

All terms and conditions are mentioned upfront in your loan agreement.

You need to meet the simple eligibility criteria to qualify for a personal loan. These include a high CIBIL score, employment at a reputed company, and salary requirements as laid down by a non-banking finance company (NBFC ) on its website. So, if your salary is less than Rs. 12,000, assure the lender that you have other sources of income to repay your personal loan on time.

However, to improve your chances of getting approval for an instant personal loan for salary of Rs. 12,000 or for a personal loan for salary below Rs. 12,000, it’s essential to meet all other eligibility criteria and submit the necessary minimum documents.

With instant approval and disbursal in 24 hours*, the Bajaj Finserv Personal Loan is an ideal way to meet your financial needs. Be sure to use the Personal Loan EMI Calculator to plan repayment and make an educated decision.

*Terms and conditions apply

Calculate EMI for Personal Loan with a Salary of Rs. 12,000

If you're considering a personal loan for a salary below Rs. 12,000, calculating your EMI is crucial. An EMI calculator helps you assess your monthly payments based on loan amount, tenure, and interest rate, ensuring you choose a loan that fits your budget.

Documents required For a Personal Loan with Rs. 12,000 Salary

Our Insta Personal Loan provides pre-approved offers, and minimal documentation is one of the most significant advantages. In some cases, you might not even need to provide any documents. In case you are asked for documents, you will only need the following:

KYC documents such as Aadhaar, passport, driving license, voter’s ID, or a Letter of National Population Register
PAN card
Cancelled cheque
Bank account statements for the last 3 months
Salary slips for the last 3 months

Interest rate on personal loan for Rs. 12,000 salary earners

The interest rate on personal loan for Rs. 12,000 salary earners typically depend on various factors. Understanding these rates is crucial for managing your finances and ensuring affordable monthly repayments. Always compare offers from different lenders. Use an interest calculator online to compare loan offers and make informed decisions.

Personal loan interest rate and applicable charges

Type of fee	Applicable charges
Rate of interest	10% to 31% p.a.
Processing fees	Up to 3.93% of the loan amount (inclusive of applicable taxes).
Flexi Fee	Term Loan – Not applicable Flexi variant - A fee will be deducted upfront from the loan amount (as applicable below) Up to Rs. 1,999/- for loan amount less than Rs. 2,00,000 Up to Rs. 3,999/- for loan amount from Rs. 2,00,000 to Rs. 3,99,999 Up to Rs. 5,999/- for loan amount from Rs. 4,00,000 to Rs. 5,99,999 Up to Rs. 7,999/- for loan amount from Rs. 6,00,000 to Rs. 9,99,999 Up to Rs. 8,999/- for loan amount from Rs. 10,00,000 to Rs. 14,99,999 Up to Rs. 9,999/- for loan amount from Rs. 15,00,000 to Rs. 19,99,999 Up to Rs. 10,999/- for loan amount from Rs. 20,00,000 to Rs. 24,99,999 Up to Rs. 11,999/- for loan amount from Rs. 25,00,000 to Rs. 29,99,999 Up to Rs. 12,999/- for loan amount of Rs. 30,00,000 and above All the Flexi charges above are inclusive of applicable taxes Loan amount includes approved loan amount, insurance premium, and VAS charges.
Bounce charges	Rs. 700 to Rs. 1,200 per bounce. “Bounce charges” shall mean charges for non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason
Part-prepayment charges	Full prepayment Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment. Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as of the date of full payment. Part-prepayment Term Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as of the date of full prepayment. Not Applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid. *Foreclosure will be processed post clearance of first EMI
Penal charge	Delay in payment of instalment(s) shall attract penal charge of Rs. 8 - Rs. 12 per day 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 Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges. Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during the initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure.
Broken period interest / Pre-monthly Instalment interest	Broken Period Interest/Pre-monthly instalment Interest" shall mean the amount of interest on loan for the number of day(s) which is (are): Scenario 1: Over and above the period of 30 (thirty) days from the date of disbursement of the loan. Method of recovery of Broken Period Interest/pre-monthly instalment interest: For Term Loan: Deduct from disbursement or added in first EMI, as applicable. For Flexi Term Loan: Added to first instalment amount. For Hybrid Flexi Loan: Added to first instalment amount. Scenario 2: Less than period of 30 (thirty) days from the date of disbursement of the loan, interest on first instalment will be charged for actual number of days.

Note: Additional cess if any, will be applicable to all charges according to state law.

*Terms and conditions apply.

Here is our detailed guide to applying for a personal loan with Rs. 12,000 salary online:

1 Click on ‘Apply Online’ to go to the online application form
2 Enter your mobile number and authenticate your data with an OTP
3 Fill in basic personal and employment details
4 Upload the necessary documents for our verification and submit the form

To guide you on the next steps of getting your loan, our representative will get in touch with you.

Personal loan on a low salary

Personal loan for salary less than Rs. 10,000
Personal loan for salary less than Rs. 15,000
Personal loan for salary less than Rs. 20,000

Frequently Asked Questions

The city in which you reside and your income are two of the most important eligibility requirements for a personal loan. Bajaj Finserv Personal Loan requires a minimum salary of Rs. 25,001 depending on the city in which you reside.

Several factors impact the eligibility for a personal loan, here is a quick look:

Credit Score
Monthly income
Nationality
Age
Existing debt
Relationship with the lender

You can choose to apply for a personal loan with a co-applicant to boost the chances of approval.

To get our personal loan, you need to have a credit score of 685 or higher.

The minimum salary required to get a Bajaj Finance Personal Loan is Rs. 25,001, depending on the city you live in. You can choose to apply with a co-applicant in case you fall short of the eligibility criteria.

To apply for our Personal Loan, you need to submit salary slips for the last 3 months. However, you can check if you have an Insta Personal Loan offer.

For a Bajaj Finance Insta Personal Loan, the processing fee is up to 3.93% of the loan amount (inclusive of applicable taxes).

Bajaj Finance Limited is one of the top NBFCs in India that offers personal loans with simple eligibility criteria and minimal documents.

Securing a personal loan with a Rs. 12,000 salary can be challenging due to strict eligibility criteria. Lenders typically assess your credit score, existing debts, and overall financial stability before approval.

Yes, applying with a co-applicant can enhance your eligibility for a personal loan. A co-applicant with a stronger credit profile or higher income can improve approval chances and potentially secure better interest rates.

With a salary below Rs. 12,000, the maximum loan amount typically depends on lender policies. Your eligibility is influenced by factors like credit score and repayment capacity.