Loan Eligibility Calculator

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Loan Eligibility Result

Monthly Income: `3,72,100
Existing EMI: ` 8,200
Rate of Interest: 12%
Tenure: 60 months
Loan Amount: `

PaisaBazaar provides you the option of using a loan eligibility calculator to help you identify your eligibility for different loans offered by various banks and financial institutions. The bank loan eligibility calculator by Paisabazaar is simple and easy to use while providing instant results regarding your eligibility of the chosen type of loan. Paisabazaar’s eligibility calculator can be used to calculate your eligibility for all kinds of loans be it Personal Loan, Home loan, Loan Against Property or Education loan. By using the loan eligibility calculator from PaisaBazaar, you can get the most appropriate estimate of the loan amount you are eligible to borrow based on just a few key parameters provided by you.
 

Why Use a Loan Eligibility Calculator?

The two most prominent reasons for using the loan eligibility calculator are –
 

  • While you calculate loan eligibility, it allows you to understand different combinations of loan repayment and analyze which one will suit you the best based on your repayment capacity.
  • It also shows the amount of interest you will pay during the loan tenure, allowing you to plan financially and save on loan interest wherever possible.
     

The Benefits of Using Loan Eligibility Calculator

The following are some of the key benefits one gets by spending merely 2 minutes when using the Loan eligibility Calculator provided by Paisabazaar. Some of those benefits include:
 

  • It is easy to identify the loan amount: With Paisabazaar’s calculator for loan eligibility, applicants can easily calculate the exact amount they are eligible to get as loan from the particular bank. The eligibility to get the loan is based on various factors namely employment status, earnings, loan tenure, and many other.
  • It is quick and easy: In just 2 minutes you can get the loan eligibility status. To get the results, you just need details regarding net monthly income, Existing EMI, Rate of Interest, and loan tenure
  • It gives reliable results: Theloan eligibility calculator is specially designed by the experts in order to calculate eligibility to get loan and it provides accurate results that can be used as actionable information by you.
  • It is easy to compare: If you are confused between the loan offerings of two different lenders, you can easily compare between the two on the basis of key criteria such as maximum loan quantum, applicable interest rate, tenure as well as processing fees and additional benefits if any.
  • It saves time: With quick results and the easy procedure of determining eligibility, Paisabazaar’s eligibility calculator simply eliminates the time taking processof contacting a particular bank in order to check loan eligibility.


How to Use Bank Loan Eligibility Calculator by Paisabazaar?

Step 1: Collecting Details

To easily calculate your bank loan eligibility, you would need to provide details regarding:
 

  • Net monthly income
  • Existing EMI liability
  • Rate of Interest
  • Loan Tenure


Step 2: Calculating Eligibility

With the sliders given in each section, adjust the respective values in the eligibility calculator tool. You can even enter the information manually into the text boxes provided on the side of each heading.
 

  • Net monthly income
  • Existing EMI
  • Rate of Interest
  • Loan Tenure


Once you submit the figures, the online bank loan eligibility tool automatically calculates your elibility for the desired loan amount and tenure. For any concerns or queries regarding usage of thiscalculator, kindly consult the customer support team at Paisabazaar.