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Eligibility Calculator for Personal Loan
Learn if you qualify for a credit facility from Fibe. Calculating loan eligibility and the amount you can borrow is made easy with our calculator.
Learn if you qualify for a credit facility from Fibe. Calculating loan eligibility and the amount you can borrow is made easy with our calculator.
This online tool helps you determine how much you can borrow based on several factors, including:
The loan eligibility check process allows you to avoid applying for offers that you are unlikely to be approved for, which can help protect your credit score.
Using this online facility is quite straightforward. Here are the steps to follow when using the personal loan amount eligibility calculator.
This three-digit number is one of the most critical factors that lenders consider when conducting a check for loan eligibility. It is a numerical representation of your creditworthiness.
A higher score means that you have a better chance of getting loan approval and you may also qualify for lower interest rates. You can also check your credit score for free online.
Lenders typically assess your debt-to-income (DTI) ratio to determine if you can afford to repay the loan. They calculate this ratio by dividing your total monthly debt obligations by your monthly income. If your DTI ratio is low, it means you have enough disposable income to repay the loan, and you are likely to get approved for the loan.
Before applying for any credit facility, it's important to determine the amount you need and the repayment tenure you prefer. The loan amount and tenure will impact your eligibility and the interest rate you may be offered.
Apart from your credit score, income and expenses, there are a few more things that lenders take into account when they conduct personal loan eligibility checks. These include:
Most banks and financial institutions provide online personal loan eligibility calculators that allow you to check your eligibility based on various factors. You can use these calculators to determine the loan amount and tenure that you may be eligible for.
By following these steps, you can evaluate your eligibility and determine the amount and tenure of your loan.
This online financial tool makes borrowing simpler and smoother for a borrower. Calculating loan eligibility helps determine how much you can borrow and compare different loan options to find the best rates and terms that work for you.
Your Age
Income
Expenses
Credit score
City pin code
Employment Type
By providing these parameters, you can estimate your loan amount and apply for the right option. It helps you to assess your EMI to help you manage your finances better. This calculator is free and can be used multiple times. If you feel your EMI amount is going high, you can reduce the loan amount and apply for the loan accordingly.
A person can avail of a quick loan only if they are qualifying as per the eligibility criteria. To apply, one:
It can be calculated with the help of a personal loan eligibility calculator. You just need to provide some details like age, monthly income, expenses, credit score and city pincode to check your eligibility status instantly.
Your monthly income and expenses play an important role in determining your loan eligibility. It shows how much you can borrow and your repayment ability. At Fibe, you can opt for a loan if your minimum in-hand salary is ₹15,000 in non-metro cities and ₹18,000 in metro cities.
No, there is no fee or charge to check your loan eligibility. You can use Fibe’s personal loan eligibility calculator online for free.
Below are the factors that determine your loan eligibility:
You can check your loan eligibility with Fibe’s personal loan eligibility calculator. Just select your city, employment type with the combination of age, monthly income, etc. and get the results instantly.
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Subham Pawar
Shilpi Mukherjee
