Check Personal Loan Eligibility
Getting a personal loan is now quick and hassle-free with Finnable! Whether it’s for a wedding, home renovation, education, or an emergency, our Personal Loan Eligibility Calculator helps you check your eligibility instantly. It’s 100% online, secure, and takes less than 2 minutes. Know where you stand and get one step closer to your loan - anytime, anywhere!
Paperless
15 minute disbursal
No collateral
Personal Loan Amount Limit
You are eligible for Loan AmountPersonal Loan Eligibility Calculator
Before applying for a personal loan, it is essential to understand how much you can borrow. At Finnable, we provide a simple and efficient personal loan eligibility calculator designed to help you estimate your eligibility instantly.
Lenders generally use one of the following methods:
1. FOIR (Fixed Obligations to Income Ratio):
This method calculates eligibility based on the following formula:
FOIR = (Sum of Existing Obligations / Net Take-Home Monthly Salary) × 100
A lower FOIR ratio indicates a higher chance of loan approval.
2. Net Monthly Income (NMI) Method:
Using this method, the maximum loan amount is calculated based on a multiplier of the applicant’s net monthly income. You may be eligible to borrow up to 30 times your monthly income, depending on your financial profile.
Each lender may apply a different multiplier or FOIR threshold, so it's essential to use a calculator tailored to your preferred lender, like the one provided by Finnable.
Documents Required for Personal Loan Eligibility
To complete your personal loan application process, you will need to submit a few essential documents. These help verify your identity, income, and overall eligibility:
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PAN Card
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Identity Proof
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Address Proof
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Signature Proof
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Latest Salary Slips
Having these documents ready helps streamline the application process and ensures faster approval.
Secure & Confidential Process
At Finnable, we ensure the highest standards of data security and confidentiality. All the personal and financial information you share is securely handled, providing you peace of mind throughout the loan process.
