Personal Loan Eligibility Calculator

Check Your Loan Eligibility

Enter your financial details and instantly compare your estimated personal loan eligibility across leading banks.

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Your Financial Details

Enter accurate details for a better estimate

Live Calculation
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Years
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Credit card monthly obligation is calculated at 5% of the outstanding amount. Final eligibility is based on the lower of FOIR and multiplier calculations. Minimum eligibility threshold is ₹1,00,000.

Compare Your Eligibility

See how much you may be eligible for with each lender.

Bajaj Finance

Bajaj Finance

Personal Loan
Max EMI Allowed
Applicable FOIR
Eligibility by FOIR
Eligibility by Multiplier
Final Eligibility
Estimated maximum loan amount
Eligibility Status
Tata Capital

Tata Capital

Personal Loan
Max EMI Allowed
Applicable FOIR
Eligibility by FOIR
Eligibility by Multiplier
Final Eligibility
Estimated maximum loan amount
Eligibility Status
HDFC Bank

HDFC Bank

Personal Loan
Max EMI Allowed
Applicable FOIR
Eligibility by FOIR
Eligibility by Multiplier
Final Eligibility
Estimated maximum loan amount
Eligibility Status
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How to Use the Personal Loan Eligibility Calculator

Our personal loan eligibility calculator helps you estimate the maximum loan amount you may be eligible for based on your income, existing monthly obligations, credit card outstanding, loan tenure and interest rate. Enter your details to get an estimated eligibility amount and compare results across different lenders.

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Enter Your Net Monthly Salary

Enter the amount you receive as your monthly net salary. Your income is one of the important factors used to determine personal loan eligibility.

2

Enter Existing Monthly Obligations

Enter your existing EMIs and other monthly loan obligations. These obligations can reduce the amount available for a new personal loan EMI.

3

Enter Credit Card Outstanding

Add your current credit card outstanding amount. The calculator considers the monthly obligation associated with your credit card outstanding.

4

Select Loan Tenure and Interest Rate

Enter your preferred loan tenure and expected interest rate. These values are used to estimate the loan amount based on the available EMI.

5

Compare Your Eligibility

The calculator displays the estimated eligibility for each lender. You can compare eligibility based on FOIR and income multiplier calculations.

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Benefits of Using a Personal Loan Eligibility Calculator

Checking your personal loan eligibility before applying can help you understand the approximate loan amount you may qualify for. A loan eligibility calculator gives you a quick estimate using important financial factors.

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Estimate Your Loan Amount

Get an estimate of the personal loan amount you may be eligible for based on your financial details.

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Compare Multiple Lenders

Compare estimated eligibility across different banks and financial institutions in one place.

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Understand Your EMI Capacity

Understand how your existing EMIs and monthly obligations can affect your eligibility for a new loan.

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Check Eligibility Before Applying

Get an estimate before approaching a lender so you can better understand your potential loan eligibility.

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Understand FOIR

See how the relationship between your income and monthly obligations affects your estimated eligibility.

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Quick and Easy Calculation

Calculate estimated personal loan eligibility without manually performing complex calculations.

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What is FOIR in Personal Loan Eligibility?

FOIR stands for Fixed Obligations to Income Ratio. It is a commonly used measure for assessing a borrower's repayment capacity. FOIR compares a person's fixed monthly financial obligations with their monthly income.

FOIR Formula
FOIR = (Existing Monthly Obligations + Proposed EMI) ÷ Net Monthly Income × 100

For example, if your monthly income is ₹50,000 and your existing monthly obligations are ₹10,000, your existing obligations represent 20% of your monthly income. A lender may then consider its applicable FOIR limit when determining how much additional EMI you can afford.

Why is FOIR Important for Personal Loan Eligibility?

FOIR helps lenders estimate whether a borrower has sufficient monthly income to manage a new loan repayment along with existing financial commitments. A higher level of existing obligations may reduce the maximum EMI available for a new personal loan.

The applicable FOIR can vary between lenders and may depend on factors such as income, customer profile, employment details, existing obligations and the lender's internal credit policy.

How FOIR Affects Your Loan Eligibility

In general, when existing monthly obligations are higher, the amount available for a new EMI may be lower. When monthly obligations are lower relative to income, the borrower may have greater repayment capacity. This is why FOIR is an important factor in personal loan eligibility calculations.

FAQ

Frequently Asked Questions

Find answers to common questions about personal loan eligibility, salary-based eligibility, FOIR, EMI obligations and loan amount calculations.

Personal loan eligibility is generally determined using factors such as monthly income, existing EMIs and other financial obligations, credit profile, employment details, loan tenure and the lender's eligibility policy.

Our personal loan eligibility calculator estimates the potential loan amount using income-based and obligation-based calculations and compares the estimated eligibility across lenders.

A personal loan eligibility calculator is an online tool that estimates the maximum personal loan amount you may qualify for based on your income, existing financial obligations, loan tenure and other selected parameters.

It can help you understand your estimated borrowing capacity before applying for a personal loan.

FOIR stands for Fixed Obligations to Income Ratio. It is a measure used to compare a borrower's fixed monthly financial obligations with their monthly income.

A lender may use FOIR to determine how much additional EMI a borrower can reasonably afford after considering existing monthly obligations.

FOIR can affect the amount of personal loan a borrower may be eligible for. If a larger portion of monthly income is already committed to existing obligations, the amount available for a new EMI may be lower.

The applicable FOIR limit can vary between lenders and may depend on income, customer profile and internal credit policies.

Yes. Monthly income is an important factor in personal loan eligibility. Generally, a higher stable income may provide greater repayment capacity, subject to existing obligations and the lender's eligibility criteria.

Different lenders may use different income thresholds, FOIR limits and income multiplier policies when calculating eligibility.

Existing EMIs can reduce the amount available for a new personal loan EMI. Lenders generally consider existing monthly obligations when assessing repayment capacity.

Entering your existing EMIs into the calculator helps estimate how these obligations may affect your personal loan eligibility.

Credit card outstanding can affect personal loan eligibility because it may represent an existing financial obligation. Depending on the lender's assessment method, credit card obligations may be considered when calculating repayment capacity.

Enter your applicable credit card outstanding in the calculator to include it in the estimated eligibility calculation.

The personal loan amount you may qualify for depends on several factors, including your monthly income, existing obligations, applicable FOIR, lender-specific income multiplier, loan tenure and other eligibility criteria.

There is no single loan amount applicable to every salary level. Use the calculator to get an estimated eligibility based on your financial details.

Maximum personal loan eligibility varies by lender and borrower. It can depend on income, FOIR, existing obligations, credit profile, employment, tenure and the lender's internal loan policies.

The calculator provides an estimated maximum eligibility for the lenders included in the comparison.

The calculator provides an estimate based on the information entered and the calculation rules used for each lender. Actual eligibility may differ after the lender reviews your income, credit history, employment details, documents and other eligibility criteria.

The final loan amount, interest rate, tenure and approval are subject to the lender's assessment and approval.

Important: Calculator results are estimates based on the information entered. Actual loan eligibility, interest rate, loan amount, tenure and approval may vary depending on the lender and the applicant's financial profile.