For a Rs. 5 lakh personal loan, the minimum required monthly income typically starts around Rs. 15,000 for salaried individuals, though some lenders may require Rs. 20,000 or more. The exact salary needed depends on various factors, including your credit score, existing debt obligations, and the specific policies of the lending institution. Self-employed applicants usually need an annual income of Rs. 3 lakh or more.
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