Rs. 5 Lakh Loan on Rs. 20k Salary? What Banks Look For

• Getting a Rs. 5 lakh personal loan with a Rs. 20k salary depends on financial stability, bank criteria, Net Monthly Income (NMI), credit score, and job stability.
• A good credit score (750+) and job stability (6 months current, 2 years total experience) are crucial for loan approval and better interest rates.
• EMIs for a Rs. 5 lakh loan can exceed 50% of a Rs. 20k salary, which banks typically cap; extending tenure reduces EMI but increases total interest.
• Compare different bank schemes, interest rates, and processing fees, and borrow only what is affordable.

Why It Matters: It helps you understand personal loan eligibility and approval factors.