The Personal Loan Calculators are one the best ways to do financial planning beforehand and help you in getting instant approval. The two main personal loan calculators are:

1. Personal Loan Eligibility Calculator
2. Personal Loan EMI Calculator

Personal Loan Eligibility Calculator is one of the best ways to analyze the maximum loan amount, you can avail of based on your ability and income to pay. The best part about using the eligibility calculator on our page is checking your eligibility, it will help in applying for a personal loan online easily.

Personal Loan eligibility Criteria

• The Minimum age to apply for a loan is 21 years and the
maximum is 65 years
• Both salaried and self-employed can apply for a loan.
• The credit score should be 750, or above.
• The minimum income required to apply for a loan in non-metro
cities is Rs 15000, and the maximum is Rs 20,000.
• A salaried employee should have a stable job of at least 6-
12 months.

The Process to check your Loan eligibility using a calculator:
Log on to the website of the lender and click on ‘Personal loan eligibility check’

After that, you need to fill in the required details

Need to fill in details such as name, e-mail address, residence, employment type, name of the current company, monthly-in-hand salary, and contact details. After filling in the details, you will get an OTP on your registered mobile number to verify the contact details.

Once the contact details get verified by providing the required OTP, then you will be provided with another form to fill which include details such as :
• How much money do you need?
• Gender
• Date of Birth
• PAN Number
• Through which mode you are getting a salary
• Current residential address
• Locality
• City and State which you belong

Once you fill in the above-required details, you get to know your loan amount eligibility along with the best bank personal loan offers after checking your credit score and credit history.

2. Personal Loan EMI calculator

A Personal Loan EMI calculator is an online financial tool that helps you to get the exact EMI amount based on details such as principal amount, tenure, and rate of interest.

Here is the three-step process of using the Personal Loan EMI calculator

• Use the slider for selecting the desired loan amount
according to your financial need.
• Fill in the interest rate offered by lenders. Do not change
the value as per your preference.
• After choosing the interest rate, make use of the slider to
choose the tenure of your loan. Higher is the tenure, lower
will be the EMI value.

Closing Line

At our IndiaLends platform also, you can check your loan eligibility and find out EMIs to be paid on your loan amount based on the interest rate offered to you by the lender. Here you can make a comparison of various interest rates offered by each of the lenders and get the lowest interest rate loan offers from multiple Banks and NBFCs.