Personal Loan Approval: More Than Just Your Salary!

• Personal loan approval depends on more than just income; factors like city, employer, and credit score play a crucial role.
• Lenders prioritize income as a primary safety net for unsecured loans, typically seeking Rs. 15,000-Rs. 25,000 monthly for salaried individuals, higher in metros.
• Your city of residence and employer profile significantly influence income expectations and approval chances.
• Existing EMIs and credit card dues impact approval, even with a good salary, as lenders assess overall repayment capacity.
• A strong credit score can compensate for lower income, while a weak score can lead to rejection despite high earnings.

Why It Matters: Personal loan approval is a holistic assessment of income, location, job stability, credit score, and existing debts.