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You can easily avail of a personal loan without the need to pledge any collateral security since an instant personal loan is unsecured. You can avail of a personal loan to cater to multiple needs such as family functions, funding a vacation, tiding over medical emergencies, and education purposes. The lender will approve your loan based on various factors amongst which your credit score & income stability play a significant role.
Applying for a personal loan is not a big deal, but getting your loan approved & sanctioned can be quite difficult. If you have a monthly income of Rs. 17,000, you would be allowed to borrow from certain lenders. But remember that each & every lender sets their personal loan eligibility criteria.
For example, if you like to avail of a personal loan from HDFC bank, you should have a minimum monthly earning of Rs. 25,000. Whereas to avail of an axis bank personal loan, the minimum monthly of Rs 15,000 is sufficient. Using a personal loan eligibility calculator online will aid you to know the maximum loan you are eligible for based on your income and repayment capacity more accurately & instantly.
The factors such as income, employer, credit history, other financial liabilities, age, etc will decide personal loan eligibility. To find how much personal loan you are eligible for a monthly salary of Rs. 17,000, use an online personal loan eligibility calculator.