ABC Home
Loans
Investments
Insurance
Payments
Cards
Download ABCD

Scan to Download the App

Playstore
Appstore
1800-270-7000

Personal Finance

Aditya Birla Finance Limited

Personal Loan Eligibility Calculator

Personal Loan Eligibility Calculator by ABFL
₹
Months
₹
₹
₹
%

Congratulations! You are eligible for

₹ 0
₹ 0

Personal Loan Eligibility Calculator: Check Eligibility Online

A personal loan eligibility calculator is useful for quickly estimating the maximum loan amount you might qualify for. Personal loans are financial assistance in times of unexpected challenges or when you need extra funds to achieve your dreams and aspirations. Whether you're organising a wedding or renovating your home, a personal loan can help reduce the financial strain. However, meeting all the lender's eligibility criteria is essential to ensure your loan application gets approved. These requirements ultimately determine the loan amount you could receive.

What is a Personal Loan Eligibility Calculator?

A Personal Loan Eligibility Calculator is an online tool designed to help you quickly determine your eligibility for a personal loan. It uses a set of predefined parameters like income, employment type, credit score, and existing debts to compute your eligibility status. The calculator provides a clear estimate of the loan amount you may qualify for, the interest rates, and the repayment tenure available to you based on the information provided.

What is the process of calculating Personal Loan Eligibility

A lender sets personal loan eligibility, which usually includes your income, age, employment type, credit history, and other financial obligations. Understanding your eligibility for a personal loan can help you make informed financial decisions and avoid unnecessary credit inquiries that might affect your credit score.

How is Personal Loan Eligibility Calculated?

Personal loan eligibility is typically calculated based on several key factors:

  • Monthly Income: Lenders assess your income to determine your ability to repay the loan.
  • Employment Status: Salaried employees, self-employed professionals, and business owners are evaluated differently.
  • Credit Score: A good credit score (usually above 700) improves your chances of getting a loan at favorable terms.
  • Existing Debts: Outstanding loans and debts can affect your eligibility, as they impact your debt-to-income ratio.
  • Age: Most lenders have a minimum and maximum age requirement for personal loan applicants.

The calculator uses these inputs to determine the maximum loan amount you can borrow, the interest rates, and the repayment period.

Personal Loan Eligibility Criteria

To qualify for a personal loan, you generally need to meet the following criteria:

  • Age: You should be between 21 and 60 years old.
  • Income: A minimum monthly income, typically starting at INR 20,000.
  • Employment: You must be a salaried employee, self-employed professional, or business owner with a stable source of income.
  • Credit Score: A score of 700 or above is often required to secure favorable terms.
  • Residency: You must be a resident of India with valid proof of address.

Each lender may have additional specific requirements, so it is advisable to check with your chosen lender.

How to Use ABFL's Personal Loan Eligibility Calculator?

Using ABFL's Personal Loan Eligibility Calculator is simple and straightforward:

  • Enter Your Details: Fill in basic information such as your age, monthly income, employment type, and existing EMIs.
    Also Read: What is an Equated Monthly Installment (EMI)?
  • Choose Your Loan Preferences: Select your preferred loan amount and tenure.
  • Check Your Eligibility: Click the ‘Calculate’ button to instantly see your eligibility status and potential loan offers.

This tool helps you understand the amount you are eligible for and the interest rates, making it easier for you to plan your finances accordingly.

Factors Affecting Personal Loan Eligibility

Several factors can influence your personal loan eligibility:

  • Income Level: Higher income usually translates to higher eligibility.
  • Credit Score: A higher credit score reflects better creditworthiness, leading to improved loan eligibility.
  • Employment Stability: Longer tenure in a stable job increases your chances of approval.
  • Debt-to-Income Ratio: Lower ratios indicate better financial management, positively impacting eligibility.
  • Age: Younger applicants may have longer repayment periods but might face stricter criteria.

Understanding these factors can help you improve your eligibility and secure better loan terms.

Eligibility Calculator FAQ’s

A personal loan eligibility calculator is a tool that helps individuals assess if they qualify for a loan and how much they can borrow by considering factors like income, credit score, and existing debts. It estimates the loan amount and interest rate they might qualify for.

To use a personal loan eligibility calculator:


  1. Enter your income, existing debts, credit score, desired loan amount, and tenure.
  2. Get an estimate of the loan amount and interest rate you may qualify for.
  3. Adjust inputs for different scenarios.
  4. Use the results to make borrowing decisions.

  • Quick assessment
  • Financial planning
  • Time-saving
  • Comparison
  • Avoiding rejection

  • Credit Score
  • Income
  • Employment Status
  • Existing Debts
  • Loan Amount and Tenure
  • Credit History
  • Age
  • Residential Stability
  • Employer Reputation
  • Collateral

These steps help you check your personal loan eligibility:


  • Research lenders online or visit a bank branch.
  • Use online eligibility calculators or speak with a loan officer.
  • Check your credit score.
  • Review lender requirements and consider pre-approval options./li>

A personal loan eligibility calculator can provide an estimate of the loan amount they may qualify for and the applicable interest rate.

To boost personal loan eligibility, maintain a good credit score by paying bills on time, reducing existing debt, increasing income, and stabilising employment. Consider a co-signer if necessary, diversify the credit mix, rectify credit report errors, maintain stable residency, and prepay existing loans. These steps collectively enhance financial standing and improve the likelihood of securing favourable loan terms.