Check Personal Loan Eligibility
Finnable offers personal loans to salaried individuals through a quick and easy process. However, before applying for a personal loan, you must check your eligibility for a personal loan.
At Finnable, we also have created a personal loan eligibility calculator, so you can easily check if you meet the requirements before applying for a loan.
Simple 3 Step process to check Personal Loan
To avail a personal loan from Finnable, your monthly salary needs to be more than Rs.
20,000/-. You can avail a loan starting from Rs 50,000 to Rs 10 lakhs through Finnable.
However, you will need to keep in mind that the higher your monthly salary, the higher your
personal loan amount. If you feel that your salary may not be sufficient to get you a loan of
your required amount, then you can take a joint loan or avail a personal loan with a family
member as a co-applicant.
There are a few factors that affect your personal loan eligibility:
1. Income: You will need to have a monthly income of at least Rs. 20,000.
2. Employer: You can avail a loan through Finnable if you are employed in a private or public
3. Credit score: A low credit score will affect your personal loan eligibility as it hampers your
chances of availing a personal loan. However, Finnable disburses personal loans with low
Use a personal loan EMI calculator online to calculate personal loan interest and principal amount components that you need to pay every month.
You can repay your personal loan through flexible repayment schedules. Prepayments are possible
after 6 months of availing the loan. Borrowers can prepay in any way they want, either in one go or
by increasing their monthly EMI amounts.
Foreclosure or prepayment of your personal loan beyond 6 months the charges will be :
After 6 months - 4.5%
6-12 months - 4%
12-24 months - 3.5%
24-36 months - 3%
Prepayment can be done by all online methods including, bank transfer methods like, NEFT,
RTGS, IMPS, Credit or Debit card or even UPI as a mode of payment.
Personal loan eligibility lets you know if you are eligible to avail a personal loan. Use our
personal loan eligibility calculator and add your detail like Monthly income, loan amount,
loan tenure, birth date, etc. to check your personal loan amount eligibility.