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Personal Loan Eligibility Calculator - Check Eligibility Online

Personal Loan Eligibility Calculator - Check Eligibility Online

As the instant loan apps populated online, different loan calculators such as EMI calculator, loan comparison calculator, interest calculator, etc. were created to derive accurate results in no time. A personal loan eligibility calculator is also one of the loan calculators online that gives a clear idea of the loan amount that you can borrow based on your monthly income. The loan eligibility calculator is a no-cost tool freely available online to check the loan eligibility.

The basic factors considered for a personal loan eligibility check include the borrower’s age, monthly income, loan tenure, interest rate, and ongoing personal loans if any. With these details entered in the eligibility calculator, you can know the maximum limit for availing of a personal loan instantly. Different lenders follow different eligibility criteria.

Holding a good CIBIL score is also one of the factors to increase the chances of loan eligibility. A high credit score states that the borrower’s financial behaviour is stable and EMI payments were made timely.

How to Use a Personal Loan Eligibility Calculator?

Download the instant loan app or visit the lender’s website to locate the eligibility calculator. Enter the required details in the calculator such as profession, monthly income, loan tenure, and current EMI obligations, if any. You will get an instant result with accurate figures – Eligible Amount, Loan EMI, and Maximum Tenure. Accordingly, you can choose to proceed or not to proceed with the personal loan application.

SimplyCash, an instant personal loan app online has an in-built loan eligibility calculator. Both salaried and self-employed individuals can check their loan eligibility in seconds. On verification of the loan eligibility, it is easy to get personal loans with paperless documentation. Once the required documents are approved, the loan is disbursed instantly into your registered bank account.

SimplyCash Personal Loan Eligibility Criteria

Use the loan eligibility calculator on SimplyCash and proceed with the personal loan application with the below documents:
  • KYC documents, inclusive of Aadhaar Card, Mobile Number Linked to Aadhar, PAN Card, and Bank Account details.
  • Last six months bank statement as income proof. Income proof is mandatory to verify the credit score that gives information about a person’s capability to repay the loan regularly in EMIs.
 
While submitting these documents, ensure your age eligibility should be between 21 - 58 years for both salaried and self-employed individuals, with a minimum monthly salary of Rs.15,000.

So, if you have any second thoughts about applying for a personal loan, use the loan eligibility calculator for clarity and simplify your decision of proceeding with an instant personal loan online.
 

SimplyCash

SimplyCash powered by Hero FinCorp is an instant personal loan app providing cash loans of upto INR 1,50,000 for both salaried and self-employed individuals. Driven by technology and fuelled by innovation, SimplyCash solves instant cash requirements of customers in just a few simple clicks without any physical documentation or meeting. The mobile app is available to users through all popular Android play stores like Google play store, Samsung store, Xiaomi store etc. With one of the most widespread presence, SimplyCash currently offers its services in over 90 major locations in India. Known for a seamless process, instant loan disbursal and transparent pricing - SimplyCash truly lives upto the expectations of being a 'Hero' product.  

Note: SimplyCash is a duly registered trademark and is a loan product offered, managed and operated by Hero FinCorp. Hero FinCorp Limited is a Non-Banking Financial Company registered under the provisions of Reserve Bank of India ("RBI") and is in the business of finance and lending.

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Accepted Banks:

ICICI BANK LTD HDFC BANK LTD IDBI BANK STATE BANK OF INDIA PUNJAB NATIONAL BANK YES BANK INDUSIND BANK KOTAK MAHINDRA BANK LTD

IDFC FIRST BANK LTD AXIS BANK BANK OF BARODA TAMILNAD MERCANTILE BANK LTD INDIAN OVERSEAS BANK INDIAN BANK RBL BANK LTD DEUTSCHE BANK AG CITY UNION BANK LTD FEDERAL BANK SOUTH INDIAN BANK STANDARD CHARTERED BANK CANARA BANK KARNATAKA BANK LTD CITI BANK BANDHAN BANK UNION BANK OF INDIA DCB BANK LTD DBS BANK INDIA LTD THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD DEUTSCHE BANK UCO BANK

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