Personal Loan Eligibility Calculation - Know Your Eligibility

Personal Loan Eligibility Criteria Calculation

When applying for a personal loan, use an Eligibility calculator, so your loan application is not rejected. Banks and NBFC check the eligibility criteria of applicants and then approve loans. You can check your eligibility amount and a lender who is ready to pay for a personal loan with Yoindi.

Yoindi personal loan Eligibility Calculator is a free-cost tool that provides information to borrowers regarding personal loan amount with lender information. The eligibility is known from the age, resident, income, loan tenure, interest rate, and ongoing EMI. With the help of the eligibility calculator, you know the maximum amount for which you are eligible.

You are eligible for up to

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Disclaimer: The above eligibility calculator estimates the amount you can apply for a personal loan. It is useful for providing you with the information. The actual loan eligibility depends on employment history, bank account information, age, and other factors. If you are willing to know the exact personal loan amount you are eligible for, click on Apply now.

General eligibility for a personal loan

When you are applying for a personal loan, check the eligibility to avoid the hassle in the future.

The following are the eligibility criteria for a personal loan.

Age Limit 21 years - 68 years
Employment Status Employed/ In business for at least 2- 5 years
Type of employment Salaried, professional, self-employed, Business Owner, Student, and homemaker
Work Experience 1 to 3 years and above
Minimum net monthly income Rs 10,000 and above
Credit Score Rs 750 and above
Maximum EMI Up to 65% of income

Follow the following steps to use Yoindi's Personal Loan Eligibility Calculator.

  • Visit
  • Select the personal loan
  • Select the type of employment
  • Next, enter the name of your company, enter the net monthly salary
  • On the next page, enter your current residence and Pincode
  • Afterward, enter your mobile number
  • On the next page, enter your name, email Id, and Date of birth.
  • After that, enter the four-digit OTP that you received on your mobile number, After that, insert your current home address.
  • After that, you will be shown all the lender information, such as your loan amount, which lender will offer you a loan, etc.

Use the Yoindi Eligibility Calculator tool to check your eligibility for a personal loan. It also provides information on which lender will give you a personal loan based on your credit score, income, and other factors.

  • Assist in comparing different lenders
  • When looking for a personal loan, you can use the eligibility calculator to check your eligibility with numerous lenders. Because of it, you will know what amount each lender grants at what interest rates. As a result, you can choose the right lender for your personal loan. If you need any help, Yoindi is there for you.

  • Helps in planning the monthly budget
  • When you use the eligibility calculator, you know the EMI amount. As it helps you in planning the monthly budget.

  • Save you from rejection
  • With the usage of the eligibility calculator, you know how much credit amount you will get. Based on that, apply for a personal loan. If you apply for a personal loan for more than that amount, you get rejected, affecting your credit score. As calculating the eligibility calculator before applying for a personal loan save you from rejection.

  • Credit score - When you are applying for a personal loan, your credit score should be 750, and above then you are eligible. Also, banks considered good credit score holders financially independent and less likely to default. Some lenders take low interest when you have a high credit score, while with a low credit score, you have to pay high-interest rates.
  • Annual income - Your income determines your eligibility to get a personal loan. If your income is high, then the lender will be satisfied to lend the money as you can give payback on time to them with interest.
  • Type of resident - the lender asks you to live in a rented or own house to understand your financial capacity to pay the lender amount.
  • Employer Type - Where you work is also a factor in determining personal loan eligibility. When you are working in a reputed organization, then it shows your good creditworthiness and shows your income stability. While you are as professional as doctors, CA, architects, etc., to get a personal loan at low-interest rates. Also, a person with a business should establish a business for two years.
  • Age - When you want to get a personal loan, your age should be between 21 to 68 years. The person who is retired gets a personal loan dependent on pension income.
  • Credit debt to income ratio - When lenders need to know your creditworthiness, they check your credit debt to income ratio. If you have a good credit debt-to-income ratio, you get the loan.
  • Relationship with the bank - If your account is there in the bank as a savings or salary account, then the bank can check your eligibility and can pay you the loan at an attractive interest rate.
  • Geographical location - The area where you live depends on it, and you should earn a salary. If your salary is lower according to the geographical area, then you are not eligible for a personal loan.
Bank Age Limit Work Experience Minimum Income ( per month)
SBI Up to 76 years NA Rs 15,000
HDFC 21 years - 60 years 2 years Rs 20,000
Axis bank 21 years - 60 years NA Rs 15,000
Kotak Mahindra Bank 22 years - 55 years 1 year Rs 25,000
Tata Capital 21 years - 58 years 1 year Rs 15,000
IndusInd 21 years - 60 years 2 years - 5 years Rs 25,000
Ujjivan Small Finance 22 years - 58 years NA Above the minimum wage limit
India Infoline Finance Limited 25 years - 60 years 6 months - 2 years Rs 35,000
HDBFS 21 years - 65 years 1 year - 3 years Rs 15,000 for salaried
Rs 1,00,000 for self-employed
Indian Overseas Bank Up to 58 years NA Rs 5,000
IDFC First Bank 23 years - 68 years 3 years NA
Federal Bank 21 years - 55 years 3 years Rs 25,000
Punjab National Bank 21 years - 58 years 2 years for doctors Rs 15,000
Andhra Bank 21 years - 55 years NA NA
Canara Bank NA NA Rs 6,000 and above for salaried
Rs 1,50,000 for self-employed
IDBI Bank Up to 75 years for pensioners NA Rs 1.5 lakh per annum
Fullerton Bank 21 years - 55 years 1 year - 2 years Rs 15,000
RBL Bank 25 years - 60 years 1 year - 3 years Rs 25,000
Bank of Baroda 21 years - 60 years 1 year - 2 years 60% of gross monthly income
UCO Bank 21 years - 65 years 1 year - 5 years Rs 20,000
United Bank of India 21 years - 60 years 2 Years NA
Deutsche Bank Up to 75 years NA Rs 25,000

When you are eligible for a personal loan then, only you will get the loan. To improve the chance of getting a personal loan, consider the following tips :

  • Have a good credit score
  • When you pay all the past due on time and have a CIBIL score of 750 or more, the bank considers you a responsible borrower. Also, you get the loan at a low-interest rate. While having a credit score of less than 750, consider you a bad borrower, and your application got rejected. Always pay the dues on time, and avoid making multiple loan applications within a short span to have good credit scores.

  • Show all your sources of income
  • Income is an important category for getting a personal loan. Because it shows your repayment capacity, so show all your sources of income to get the personal loan approval.

  • Avoid multiple loan applications
  • When you apply for a personal loan, lenders check your defaulter risk with a credit bureau. Such are hard inquiries to know about your CIBIL scores. Thus, please do not apply for multiple loan applications simultaneously as it considers the lender you are credit hungry. When applying for a loan, consider the best option and decide.

  • Add a co-borrower
  • When you are applying for a personal loan, add a close family name, such as a spouse, children, and parents, as it improves your eligibility to get personal loans. All banks and NBFC do not allow you to add a co-borrower while applying for a personal loan.

When you apply for a personal loan, your repayment capacity determines your eligibility. There are two factors which banks choose to determine the maximum amount of personal loan amount such as follows:

  • Fixed income to obligation ratio method
  • The fixed income approach considers the monthly payment of the borrowers. If FOIR reaches 50% or more, then a personal loan application is denied, or a loan you will get less than your need.

  • Net Monthly income Method
  • Some lenders use a multiplier-based applicant net monthly income to determine maximum loan amounts. During such situations, a personal loan is available up to 30 times the applicant's net monthly income. If the loan sum request reaches the limit, the applicant will not be eligible for an unsecured personal loan.


Personal loan eligibility is calculated in the following ways:

  • If you are a resident of India, you are eligible.
  • Your age is between 21 years to 67 years.
  • Your CIBIL score should be 750 or higher.
  • Your Salary should start at Rs 22,000 or more, depending on the city.
  • You should be employed with Public, Private, and MNC.

When applying for a personal loan, you need to check eligibility. For that purpose, you have to use an eligibility calculator. You will be wondering how to use the calculator. Let me explain to you.

  • Open the Eligibility calculator of the loan.
  • Choose the date of birth, city of residence, employer details, monthly income, and monthly expenses.
  • Once the choice of the above things is made, it will show the amount for which you are eligible.
  • You can apply for the same personal loan amount and get approval.

The personal loan is given to you depending on salary, age, city of residence, employer, and CIBIL score. You can know what amount of personal loan you will get on salary with the help of an eligibility calculator.

It is easy to qualify for a personal loan as you must fulfill eligibility criteria and submit the documents.

The eligibility criteria are as follows:

  • You should be a resident of India.
  • The age of the person is between 21 years to 67 years.
  • Your CIBIL score should be 750 or higher.
  • Your Salary should start at Rs 22,000 or more, depending on the city.
  • You should be employed with Public, Private, and MNC.

Documents need as follows:

  • Employee ID card.
  • KYC documents.
  • Providing the last 3 months' salary slips.
  • You need to provide a bank statement of the previous month of salary accounts.

When you apply for a personal loan determining the eligibility is important as it defines what amount of loan you will get. Also, it defines which lender will give you the loan.

The services of checking personal loan eligibility are free at various places.

Your income defines your repayment capacity. If you have a high income, you have a high repayment capacity, while low-income people have a low repayment capacity.

When you apply for a personal loan, the lender checks how many loans you have. Also, it compares with your monthly income. If the debt-to-income ratio is low, then you have repayment capacity.

When your credit score is 750 or above, you have good credit history and repayment capacity. But less than that defines a bad credit score, and you are not eligible for the loan.

You can get a personal loan even if you have bad credit, depending on the lender to whom you have applied.

If you work in a reputed organisation, government organisation, or MNC company then your creditworthiness is good. Also, it determines your income is high, and you will pay the money on time.

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