Can I get Personal Loan if my Salary is 12000?

Yes, you can get up to 5 lakh personal loan at Rs. 12,000 net salary. The repayment tenure is up to 36 months with a 16% to 21% per annum interest rate.

You will get instant approval within 2 days. Don’t require visiting any branch. This is a fully digital process loan disbursement.

Personal Loan 12000 Salary Recap

Company	WeRize
Loan Amount	Up To 5 Lakh
Interest Rate	16% to 21% p.a.
Tenure	1 -3 years
Age Required	21 -55 years
Income Required	12,000 Net Salary
Processing Fees	Up to 3% of the loan amount
Eligible For	Salaried Person

Benefits & Features 12000 Salary Personal Loan

Quick Process: This is a fast & quick loan process. You will get the loan within 6 days.

100% Digital: Get a personal loan that is 100% digital. Don’t need to give physical documents. Just upload documents at loan application time.

Fewer Documents: Minimum documents required to apply for a personal loan.

Flexible EMI: Choose a flexible EMI with 36 months of repayment tenure.

Higher Loan Amount: You can get up to 5 lakh personal loan at a 12,000 salary.

Affordable Interest Rate: The interest rate starts from 16% to 21% per annum which is affordable for the applicant.

No Extra Charges: there are no hidden charges. You will get the details at loan agreement time.

Also Read: L&T Finance Personal Loan

Eligibility Criteria

• Indian Citizen
• The age should be 21 to 55 years
• Not defaulter at previous loan
• -1/700+ CIBIL Score
• Net 12,000 Salary required

Salaries ranging from above Rs. 8,000 to up to Rs. 15,000

Lender	Interest Rate	Monthly Salary	Loan Amount
FlexPay	15% to 36% p.a.	Rs. 8,000	Up to 2 Lakh
WeRize	16% to 18% p.a.	Rs. 12,000	Up to 5 Lakh
Cashe	2.25% per month	Rs. 12,000	Up to 4 Lakh
MoneyView	1.33% per month	Rs. 13,500	Rs. 5,000 to Rs. 5 Lakh
Fibe	24% to 30% p.a.	Rs. 15,000	Up to 5 Lakh
InCred	11.49% to 18% p.a.	Rs. 15,000	Up to 7.5 Lakh
Axis Bank	10.49% to 22% p.a.	Rs. 15,000	Up to 40 Lakh

Documents for 12000 Salary Personal Loan

• Pan Card
• Aadhaar Card
• Recent 3-month Salaried Slip
• 1 yr. Salary Account Bank Statement pdf format
• Co-applicant Aadhaar Card
• Co-applicant Pan Card
• Electricity Bill or Gas Bill for Residential Proof

Also Read: How to get a business loan up to 30 lakh

Interest Rate & Other Charges

Interest rate	16% to 21% p.a.
Processing Fee	Up To 3% + GST
Insurance Charges	Up To 3% of the loan amount
Minimum Loan Tenure	12 month
Maximum Loan Tenure	36 month

Steps to Improve Your Chances of Loan Approval

1. Improve DTI Ratio: Debt-to-income ratio is one of the major factors of loan approval. You must maintain the DTI ratio to reduce your debt. The lender will calculate the DTI ratio and generate a loan offer.

2. Improve Credit Score: Get a personal loan approval chance to build a credit score. Focus on improving your credit score to increase your loan eligibility. Making payments on time and reducing debt help to correct CIBIL reports.

3. Increase Income: Lender happy to offer personal loans for higher income employees. So, you must focus on increasing income steadily.

4. Calculate EMI: Borrower should calculate EMI through a personal loan EMI calculator. Know your repayment amount before going to apply. It will help to know the monthly EMI and make a proper strategy to execute the plan.

How to Apply for a Personal Loan

Step 1: Click on the “Apply WeRize Loan” button and visit the lender’s official page.

Step 2: Fill up the form from your phone without going branch.

Step 3: Enter the address & pin code of your location.

Step 4: Upload Pan Card, Aadhaar Card on both sides, Salary Slip & 1 year Bank Statement in pdf format.

Step 5: Now, the bank will check your creditworthiness, If you are eligible, you must get a verification call.

Step 6: After all processes are done, the loan amount is directly deposited in your salary account.

FAQs on Personal Loan of 12,000 Salary