login-icon
mahindra-finance-logo
login-icon
  • English
  • Hindi
  • Bengali
  • Marathi
  • Telugu
  • Tamil
  • Gujarati
  • Kannada
  • Odia
  • Malayalam
  • Punjabi
phone

Download App

Conveniently pay your EMIs, set payment reminders, view your loan details.

phone
|

How is the maximum loan amount decided?

mahindra-finance-author

by Mahindra Finance

|

May 30, 2024

|

1 mins read

While the maximum personal loan amount varies, lenders typically consider two key factors: your income and existing debts.

To ensure comfortable repayments, they often won’t approve loans where the monthly payment (EMI) exceeds 30% of your salary, especially for salaried employees. Additionally, they factor in your existing EMIs from other loans to assess your overall debt burden and ability to repay the new personal loan.

Related articles

When & How To Refinance Your Used Car Loan

Are you looking to save money or improve the terms of your used car loan? Refinancing could be the solution you need. By taking advantage of lower interest rates, improving credit scores, or adjusting...

KNOW MORE

May 13, 2024

Top 10 Petrol Mileage Cars in India 2025

Quick Summary: Why Petrol Mileage Is Crucial When Choosing a Car? There are many powerful and feature-packed cars in the market; however, a lot of them lack in the most crucial aspect, i.e., fuel effi...

KNOW MORE

January 16, 2026

4 Critical Key Business Metrics You Should Consider As A Business Owner

Running a successful business requires more than just hard work and determination. It requires a deep understanding of your business’s performance and the ability to identify areas for improveme...

KNOW MORE

April 10, 2024