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Personal Loan Eligibility Calculator

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Disclaimer: The results are indicative, based on your inputs and internal assumptions, and do not constitute a loan offer or approval. Final eligibility and terms depend on lender evaluation and policies. Please verify details independently before making any financial decision.

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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What are the eligibility criteria to get a personal loan

Banks and NBFCs usually consider the credit score, age, occupation profile, job/business stability and employer’s profile of the applicant for personal loan applications. The eligibility criteria also depend on the internal policies of the lender. Stated below are the personal loan eligibility criteria usually set by most lenders for their salaried and self-employed applicants:-

Personal Loan Eligibility Criteria for Salaried

Eligibility Criteria For Salaried Applicants
Age Limit 18 – 60 years
Minimum Income Usually Rs 15,000 p.m.
Minimum Work Exp./ Business Continuity Usually 1 year, with some lenders requiring longer work experience.
Credit Score Preferably 750 and above

Personal Loan Eligibility for Self-Employed

Eligibility Criteria For Self-Employed Applicants
Age Limit 21 – 65 years
Minimum Income Usually Rs 15 lakh p.a.
Minimum Work Exp./ Business Continuity Usually 3 years of business continuity, with some lenders requiring a longer period of business continuity
Credit Score Preferably 750 and above

Eligibility Criteria for Pre-Approved Personal Loans

  • Lenders usually extend pre-approved personal loan offers to their existing customers with good repayment history and strong credit profiles.
  • Most banks and NBFCs consider loan repayment history, recent salary credits, existing loan obligations, account balance & transaction pattern, etc. before offering you a pre-approved personal loan.
  • Pre-approved offers are ‘Invitation to Apply’ and therefore do not guarantee final approval. Such offers can increase your chances of personal loan approval, but applicants still have to undergo an evaluation process. This may include additional checks and documentation based on the lender’s policies.

How Do Lenders Decide Your Maximum Personal Loan Eligibility Based on Your Salary

Most banks and NBFCs consider two methods, the multiplier method and the EMI/NMI ratio, to calculate the applicant’s eligible personal loan amount.

Multiplier Method

In the multiplier method, an applicant’s Net Monthly Income (NMI) is multiplied by a set number to calculate an applicant’s personal loan amount eligibility. This multiple can be anywhere between 10 to 24 times the applicant’s NMI. For instance, SBI considers a 24-times NMI to calculate the applicant’s eligible loan amount. Therefore, the eligible loan amount for SBI Personal Loans would be Rs 12 lakh. However, the applicant’s existing EMIs and other debt obligations also play an important role in calculating your loan eligibility.

EMI/NMI Ratio

Apart from NMI, lenders consider the EMI/NMI Ratio. The EMI/NMI ratio indicates the proportion of the applicant’s net monthly income allocated towards repayment of their existing and proposed EMIs. Lenders usually prefer sanctioning personal loans to applicants having an EMI/NMI ratio of up to 50-55%.

How Can You Improve Your Personal Loan Eligibility

Maintain a high credit score of 750 and above:

Having a higher credit score increases your chances of loan approval. Making timely EMI repayments or credit card dues and managing credit responsibly can help gradually improve your credit score.

Add a co-applicant:

Adding a co-applicant having higher monthly income can improve your personal loan eligibility as this reduces the lending risk for the lender.

Avoid frequent job changes:

Switching jobs too often reflects income instability, which increases the lender’s credit risk. Therefore, applicants must try to complete the minimum job criteria before applying for a personal loan.

Avoid multiple loan applications:

Making multiple personal loan applications within a short span of time can show you as a ‘credit hungry’ borrower, which may lead to loan rejections by some lenders and lower your credit score. Instead, visit online Paisabazaar and compare multiple personal loan offers from 30+ banks and NBFCs.

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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Apply Now

Avail Personal Loan for
All Your Needs

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Avail Personal Loan for
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FAQs

Lenders assess your personal loan eligibility, primarily on the basis of your age, income, credit score, repayment history, work experience, etc. before sanctioning personal loan.

Usually, the minimum monthly salary to be eligible for a personal loan is Rs. 15,000, as defined by various lenders. However, meeting only the minimum salary criteria does not assure loan approval, as lenders consider various other factors before loan sanctioning.

The eligibility requirement for availing a Rs 10 lakh personal loan shall be similar as that for any other loan amount, such as the applicant’s age, credit score, income, loan repayment capacity, occupation/employment, employer’s profile, etc. However, these requirements may vary from one lender to another lender.

Yes, along with salaried individuals, self-employed professionals are also eligible to apply for a personal loan. The self-employed professionals need to submit the required documents from the lender at the time of loan application submission. Some of the basic documents for self-employed applicants include last years’ ITR, P&L statement, last 6 months’ bank statement, business address proof, proof of business incorporation, etc.

Yes, you are in the valid age to apply for a personal loan and purchase the products of your likings, as banks allow applicants of 21 years or above to apply for a personal loan. However, you should maintain a decent credit score to avail personal loan or else you can apply for personal loan against credit card or fixed deposit.

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What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
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