Eligibility Calculator
Loan eligibility calculator plays an important role in helping a customer understand their current position with respect to their borrowing capacity. The calculator enables customers to gain an understanding of their loan eligibility, considering their average monthly income and expenditure. It computes the loan amount and repayment amount based on income, expense, interest rate and tenure of the loan. Loan eligibility is calculated by the application and is displayed to the customer.
The eligibility is calculated on the basis of :
- The customer’s average monthly income
- The customer’s average Monthly Expenditures
- Tenure of the loan being inquired applied
- Estimated rate of interest
How to reach here:
Portal Page > Tools & Calculator > Eligibility
Field Description
|
Field Name |
Description |
|---|---|
|
How Much Loan Can You Get? |
|
|
Your Average Monthly Income |
Monthly income of the user. |
|
Your Average Monthly Expenses |
Monthly expenditure of the user. |
|
For How Many Years |
Tenure of loan in terms of years. |
|
@ Interest |
Interest rate of the loan. |
|
You can get a loan of |
The amount of loan that the customer is eligible to borrow. |
|
Average Installment |
Display the estimated monthly installment amount. |
- In the Your Average Monthly Income field, enter your monthly income.
- In the Your Average Monthly Expenses field, enter your monthly expenses.
- In the For How Many Years field, enter the tenure of loan.
- In the Interest field, enter the rate of interest.
- Click .
The application calculates and displays the eligible loan amount and the average installment amount.