Every lender has a set of eligibility criteria that borrowers must meet to get a loan. While salary and good credit score are the major criteria, the lender also prescribes a minimum income requirement, which may vary among different lenders. Although Rs. 16,000 will qualify with certain lenders, some may not approve your loan application especially if you live in metro cities. You need to check with the respective lender about the details. 

The loan amount is purely decided by the lender based on your eligibility and credit profile. The average debt to income ratio is between 40% to 50%. If you have financial responsibilities such as rent, credit card payments or any other loan, these should not cross 40% of your monthly salary. More of such commitments will hurt the approval chances. 

Let us assume, you have no other financial commitments and you have qualified for the loan. The maximum loan amount may range between 8 to 10 times your monthly income. Henceforth, you may become eligible for a maximum loan amount of Rs. 1,60,000 which can be repaid in a tenure that is comfortable to you. 

In case you are looking for a loan at better terms, you may check your eligibility here.