Check minimum income required for a ₹4 Lakh personal loan. EMI starts ₹12,963/month. Compare 28+ banks.
To get a ₹4 Lakh personal loan, you need a minimum monthly income of approximately ₹28,807 (at the lowest rate of 10.3% for 3 years, assuming no existing EMIs).
| Bank | Rate | Monthly EMI | Min Income Required | Processing Fee |
|---|---|---|---|---|
| Tata Capital | 10.99 - 24.00% | ₹13,094 | ₹26,188/mo | Up to 3% |
| Bajaj Finserv | 11.00 - 30.00% | ₹13,095 | ₹26,190/mo | Up to 3.50% |
| L&T Finance | 12.00 - 28.00% | ₹13,286 | ₹26,572/mo | Up to 4% |
| Hero FinCorp | 12.00 - 24.00% | ₹13,286 | ₹26,572/mo | Up to 3% |
| Muthoot Finance | 14.00 - 24.00% | ₹13,671 | ₹27,342/mo | 2% + GST |
| Piramal Finance | 14.00 - 26.00% | ₹13,671 | ₹27,342/mo | Up to 4% |
| Mahindra Finance | 14.00 - 24.00% | ₹13,671 | ₹27,342/mo | Up to 3% |
| Indian Bank | 10.30 - 14.15% | ₹12,963 | ₹27,581/mo | 1% of loan amount + GST |
| PNB | 10.40 - 14.85% | ₹12,982 | ₹27,622/mo | 1% of loan amount + GST |
| IDBI Bank | 10.50 - 14.50% | ₹13,001 | ₹27,662/mo | 1% of loan amount + GST |
| Canara Bank | 10.55 - 14.20% | ₹13,010 | ₹27,681/mo | 1% of loan amount + GST |
| Bank of Baroda | 10.60 - 14.50% | ₹13,020 | ₹27,703/mo | 2% of loan amount + GST |
| Central Bank | 10.70 - 14.70% | ₹13,039 | ₹27,743/mo | 1% of loan amount + GST |
| Union Bank | 10.80 - 14.50% | ₹13,058 | ₹27,783/mo | 1% of loan amount + GST |
| Bank of India | 10.85 - 14.85% | ₹13,067 | ₹27,803/mo | 1.50% of loan amount + GST |
| SBI | 11.15 - 14.30% | ₹13,124 | ₹27,924/mo | 1.50% of loan amount + GST |
| Axis Bank | 10.49 - 22.00% | ₹12,999 | ₹28,887/mo | Up to 2% |
| IndusInd Bank | 10.49 - 26.00% | ₹12,999 | ₹28,887/mo | Up to 3% |
| Yes Bank | 10.49 - 20.00% | ₹12,999 | ₹28,887/mo | Up to 2.50% |
| Federal Bank | 10.49 - 17.99% | ₹12,999 | ₹28,887/mo | Up to 3% |
| IDFC First Bank | 10.49 - 23.99% | ₹12,999 | ₹28,887/mo | Up to 3.50% |
| HDFC Bank | 10.50 - 21.00% | ₹13,001 | ₹28,892/mo | Up to 2.50% of loan amount |
| ICICI Bank | 10.75 - 19.00% | ₹13,048 | ₹28,996/mo | Up to 2.50% of loan amount |
| Kotak Mahindra Bank | 10.99 - 24.00% | ₹13,094 | ₹29,098/mo | Up to 2.50% |
| Bandhan Bank | 11.00 - 18.00% | ₹13,095 | ₹29,100/mo | Up to 3% |
| South Indian Bank | 11.00 - 16.00% | ₹13,095 | ₹29,100/mo | 2% of loan amount + GST |
| Karur Vysya Bank | 11.50 - 17.00% | ₹13,190 | ₹29,312/mo | 2% of loan amount + GST |
| Manappuram Finance | 22.00 - 28.00% | ₹15,276 | ₹30,552/mo | 2.50% + GST |
The EMI for ₹4 Lakh personal loan at 10.3% for 3 years is approximately ₹12,963 per month.
You need a minimum monthly income of approximately ₹28,807 for a ₹4 Lakh personal loan at 10.3% interest rate (assuming no existing EMIs and 45% FOIR).
The lowest interest rate for ₹4 Lakh personal loan starts from 10.3% p.a. in 2026. Compare all banks above.
With a ₹30,000 monthly salary and no existing EMIs, your maximum personal loan eligibility at 10.3% for 3 years is approximately ₹4.17 L.
The total interest on ₹4 Lakh personal loan at 10.3% for 3 years is approximately ₹67K.