Check your eligibility
An indication, never a promise.
The eligibility calculator tells you how many of the loan products that lenders on our panel publish are likely to consider you. You pick the loan, then enter the amount you need, your monthly income and the EMIs you already pay. It shows how many of the published products are likely to consider you, the range of rates those products publish, and the share of your income that your current EMIs take.
It is an indication from published rules, never a promise. A lender decides on your whole application, with your credit report and documents, under its own credit policy.
What you enter
- The loan you need, chosen from the list.
- The amount you need, in rupees.
- Your monthly income in rupees. Use what lenders usually count: take-home for salaried applicants, or the figure your papers support for self-employed applicants.
- What you pay in EMIs each month, in rupees. Leave it empty if you have none; it is read as zero.
How it is worked out
The calculator does not use one formula for all lenders. Each lender publishes rules for each product, and the calculator runs the same rules that our matching uses over what you typed. The typical rules are:
- An amount range: the product lends no less than a floor and no more than a ceiling.
- A minimum monthly income.
- A limit on the share of income that EMIs may take (FOIR, fixed obligations to income ratio), counting the new loan with the ones you already pay.
A product counts as "likely to consider you" when what you entered passes the rules the calculator can test. The count compares products that pass with all the products published for that loan. No lender is named, and nothing you type is stored against you.
The EMI share line is a plain ratio: the EMIs you already pay, divided by your monthly income.
EMI share = existing monthly EMIs / monthly income x 100
Worked example
A salaried teacher needs ₹5,00,000 and earns ₹60,000 a month. She pays ₹10,000 in EMIs on an existing loan. Her EMI share is 10,000 / 60,000, which is about 16.7 per cent of income.
Suppose a lender's published rule lets total EMIs take up to 50 per cent of income (an example rule, an illustration only; each lender sets its own). Then:
Example: how one published rule would apply (illustration only)
| Step | Working | Result |
|---|---|---|
| Income allowed for EMIs | ₹60,000 x 50 per cent | ₹30,000 |
| Less existing EMIs | ₹30,000 - ₹10,000 | ₹20,000 left |
| Check against the new loan | A ₹5,00,000 loan over 60 months at an example rate of 12 per cent a year has an EMI of about ₹11,122 | Fits within ₹20,000 |
Because the EMI fits, a product with this rule would be likely to consider her, provided the amount and income rules pass too. A different product, with a different limit, may not.
Reading your result
- A higher count means more published products fit what you entered. It does not say which is cheaper or which will approve you.
- A count of zero means no published product's rules fit what you entered. Try a smaller amount, or reduce your EMIs, then check again.
- The rate range shows what those products publish. Your own rate is set by the lender and depends on your profile.
- The EMI share tells you how much of your income is already committed. A lower share leaves more room for a new loan.
Limits of this estimate
The calculator tests only the rules lenders publish: the amount, income and EMI rules. It does not see your credit report, repayment history, employer, business, property, age, or the documents you can supply. Lenders use these too, and each applies its own credit policy.
So a "likely" result is not an approval and a zero is not a refusal. The lender decides. Before you accept an offer, ask for the Key Fact Statement and compare offers on the annual percentage rate (APR), which includes the lender's fees. Read how eligibility and FOIR work and how the Key Fact Statement and APR work.
Checking your own eligibility here does not send an application to anyone. To go further, LOANZ 360 compares your details with each partner lender's published criteria before any application is made, so you apply only where you are likely to qualify. This helps avoid unnecessary credit enquiries; too many lender checks in a short time can lower your score.
Frequently asked questions
Does using this calculator lower my credit score?
No. The calculator does not look at your credit report and does not send anything to a lender. Checking your own score does not lower it either. Lender applications are what create credit enquiries.
Why does it ask for my income and EMIs?
Lenders limit how much of your income may go on EMIs. Your income and existing EMIs show how much room is left for a new loan, which is the rule most likely to decide the amount.
It says zero products. What should I do?
Try a lower amount, add a co-applicant's income if the lender allows it, or close or reduce an existing loan. Check again afterwards. A lender may still look at your case if a rule has some flexibility, but this tool tests only the published rules.
Is the rate range the rate I will get?
No. It is the range that the matching products publish, for borrowers who meet a lender's own criteria. The rate you get depends on your credit history, income, loan amount and the lender's policy.
Does it name the lenders?
No. It counts published products and shows a rate range. Partner lenders are shown on the lenders page, drawn from live data.
What should I enter as income?
Use monthly income as a lender would count it. For salaried applicants that is usually net pay; for self-employed applicants it is based on income tax returns and bank statements. Do not include income you cannot document.
Related reading: loan eligibility and FOIR, personal loan eligibility, salaried and self-employed, eligibility criteria, FOIR, the FOIR calculator, the affordability calculator, and the salaried personal loan and home purchase loan pages.
How it is worked out
Your income, EMIs and amount are compared with rules lenders publish. An indication; each lender decides.
Read more: Loan eligibility and FOIR: how lenders decide how much you can borrow
These are illustrations from the figures you type. Nothing is sent to us, and none of it is an offer: a lender’s own schedule, fees and charges are the record. See our terms of use.