Personal Loan Eligibility Calculator

Your Personal Loan eligibility is determined by factors like your age, income, credit score and existing debt. We assess your income to determine your repayment capacity, while a good credit score indicates financial reliability. Your existing debt obligations also influence your eligibility, as it affects your ability to manage multiple loans.

There are Criteria and Requirement mention below

Criteria

1. Age :
23 - 58 years

2. Income -
Stable income source salaried or self employed)

3. Credit Score -
Good credit history

4. Employment -
Minimum 1 year of continuous employment

5. Income Proof -
Salary slips, form 16 (Salaried), ITR (self employed)

6. Identity Proof -
Aadhaar card, PAN card, Passport, Driver's license

7. Address Proof -
Utility bills, rental agreement, passport

8. Bank Statements -
Last 6 months' bank statement

A Personal Loan eligibility calculator is a valuable tool that can help you understand your borrowing capacity and make informed financial decisions. Here are some key benefits:

1. Quick Assessment
Instantly assess your eligibility without the need for complex calculations.

2. Personalised Results
Get tailored results based on your specific financial situation.

3. Informed Decision-Making
Make informed choices about loan amounts and tenures.

4. Time-Saving
Avoid the hassle of visiting multiple lenders for initial assessments.

5. Improved Financial Planning
Plan your finances effectively by understanding your borrowing limits.

6. Increased Confidence
Gain confidence in your borrowing capacity and explore various options.

7. Faster Approval Process
A pre-approved loan can expedite the application process.

Here are the steps to use a Personal Loan Eligibility Calculator:

1. Enter details
Monthly income, existing EMIs, age, employment status.

2. Click 'Calculate'
The calculator will display estimated eligibility.

3. Review results
Consider loan amount, EMI, interest rate, and tenure.

4. Application
Apply online or visit a branch to proceed with the loan application.

1. Credit Score -
Higher credit score, better eligibility and lower interest rates

2. Income Level -
Stable income increases eligibility and loan amount

3. Debt-to-Income Ratio -
Lower DTI improves chances of approval

4. Employment Status -
Stable employment enhances eligibility

5. Age -
Lenders have age limits for loan eligibility

6. Collateral -
Secured loans may offer better terms and higher loan amounts

7. Bank Statements -
Consistent income and low expenses improve chances

8. Repayment History -
Timely repayment of existing loans

9. Relationship with Lender -
Existing relationships can influence eligibility