PERSONAL LOAN ELIGIBILITY CALCULATOR

  • Rs. 0 Rs. 10,00,000
  • Rs. 0 Rs. 5,00,000
  • 0 Months 84 Months
  • 0% 50%

You are eligible for loan upto : 0

  • BANK

  • NAME

  • ELIGIBLE FOR LOAN UPTO

ICICI Bank

Rs. 25,00,000

Apply Now

SBI

Rs. 25,00,000

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TATA Captial

Rs. 25,00,000

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HDFC Bank

Rs. 15,00,000

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Citi Bank

Rs. 25,00,000

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Bajaj Finserve Bank

Rs. 25,00,000

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RBL Bank

Rs. 25,00,000

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Personal Loan Eligibility Criteria

Minimum Age Required 21 Years
Maximum age limit 60 Years
Employment Type Salaried/Self-employed professionals/non-professionals
Employment Status (Salaried) Employed for at least 2 yrs., at least 6 months. with current employer
Employment Status (Self Employed) In-business for at least 2 yrs
Minimum Income Rs.15,000 net income per month ( Income Bracket depends on the city that you live in
Maximum Loan Amount Up to Rs.40 lakhs (Based on various factors such as Income, existing EMIs, Tenure, Interest Rate)

How to use Compareraja's Personal Loan Eligibility Calculator?

The personal loan eligibility calculator makes it easy to understand if you are eligible to take a loan with the help of CompareRaja or not. Our ‘apply for personal loan’ page has all the details about every bank’s eligibility criteria yet, with the aid of eligibility calculator, it becomes easier to know the amount of personal loan that you can eligible for.

All you need to do is, enter your monthly income in rupees and the amount of your current EMI if you have any and click on ‘calculate my eligibility’. Once you click on it, you get two more options. Simply adjust the tenure for your loan, and the interest rate with the help of sliding bar or you can just enter the amounts and again click on ‘calculate my eligibility’. Our eligibility calculator instantly tells you the amount of the loan you’re eligible for.

Personal Loan Eligibility Criteria

Personal loans are unsecured loans, which means that these loans are offered by banks only on the basis of the creditworthiness of the borrower without any collateral. It is important to know the eligibility criteria for a personal loan before applying for one as it can be different for different banks and NBFCs.

Salaried as well as self-employed individuals can take personal loans. While eligibility criteria can vary, general criteria for salaried borrowers are their age, monthly income, CIBIL score and proper documentation. For self-employed borrowers, a personal loan is approved on the basis of their age, the stability of business and proper documents that can confirm the stability and CIBIL score.

No matter if you are a salaried borrower or a self-employed professional, the minimum age required to apply for a personal is 21 years and maximum age limit is up to 65. However, this upper limit can vary between lenders.

To provide you with detailed information about the eligibility criteria of different lenders, we have collected details about specific criteria of several common banks and NFBCs in India.

Specific Eligibility Criteria of Loan Providers in India

Banks like HDFC Bank, SBI, ICICI, Axis Bank, Kotak Mahindra Bank, RBL Bank and NBFCs like Tata Capital, Bajaj Finserv, are famous among borrowers as these lenders are known for their affordable interest rates, easy documentation, quick processing, and disbursal.

1. HDFC Bank

If you are looking for a personal loan to fulfil any of your financial requirements, HDFC Bank can be a great choice. The bank is known for its quick approval process, and your personal loan can be approved anywhere between 2 to 7 working days. Moreover, the bank also offers special privileges to its existing customers. Apply for HDFC Bank Personal Loan

HDFC Bank Personal Loan Eligibility Criteria

HDFC Bank divides the borrowers into three categories- Salaried, Self Employed, and Professionals, like doctors.

  • A salaried borrower’s age should be between 21 and 60, and he/she should have work experience of at least 2 years with at least 1 year with the current employer.

  • The net income on a monthly basis should be Rs. 15,000 at least if the borrower is from cities, like Mumbai, Delhi, Bangalore, Cochin, Kolkata and Chennai, and Rs. 12,000 otherwise.

  • A self-employed borrower’s age should be between 24 and 60, and the profit margins and turnover will be considered for calculating the loan amount.

2. SBI Bank

SBI is the most famous public sector bank in India and it offers personal loans to salaried and self-employed individuals. Moreover, the Bank also offers personal loans to pensioners. Xpress Personal Loan, Festival Loans, SBI Saral Personal Loan and SBI Pension Loan are some of the most famous offerings of SBI Bank.Apply for SBI Personal Loan

SBI Bank Personal Loan Eligibility Criteria

  • Your personal income and repayment capacity will be considered for determining your eligibility. Indian residents can avail personal loans up to Rs. 2.5 lakhs.

  • In metro cities, like Delhi, Mumbai, Bangalore, Kolkata, etc. the bank offers personal loans up to Rs. 5 lakhs to both, salaried and self-employed borrowers.

  • The age of pensioners looking for SBI personal loan should not be more than 76.

3. ICICI Bank

ICICI Bank is one of the most popular private banks in India and is often preferred by potential borrowers for personal loans as the bank offers instant processing and easy documentation. The bank offers personal loans to salaried and self-employed professionals at competitive interest rates and with flexible tenures.Apply for ICICI Bank Personal Loan

ICICI Bank Personal Loan Eligibility Criteria

Salaried Borrowers

  • ICICI Bank offers personal loans to salaried individuals who are between 23 and 58 years.

  • The minimum salary of the borrower should be Rs. 17, 500 and Rs. 20,000 if the borrower resides in cities, like Hyderabad, Bangalore, Kolkata and Pune, and Rs. 25,000 if the borrower resides in Mumbai or Delhi.

  • The borrower should have a work experience of at least 2 years

  • Should have been living at the current residence for at least 1 year.

Self-Employed Borrowers

  • Self-employed borrowers should be at least 28 years old to avail a personal loan. Professionals Professionals like doctors, need to be at least 25 years old to apply for a personal loan. The maximum age limit for self-employed professionals is 65 years.

  • The minimum salary of the borrower should be Rs. 17, 500 and Rs. 20,000 if the borrower resides in cities, like Hyderabad, Bangalore, Kolkata and Pune, and Rs. 25,000 if the borrower resides in Mumbai or Delhi.

  • As per the audited financials, non-professionals need to have a turnover of at least Rs. 40 lakhs and professionals should have a turnover of at least Rs. 15 lakhs.

  • After-tax, the profit of non-professionals should be at least Rs. 2 lakhs and that of professionals should be Rs. 1 lakh.

  • Non-professionals should be in the business for at least 5 years, and professionals should be working for at least 3 years.

4. Tata Capital

If you are looking for a personal loan from an NFBC, Tata Capital can be an excellent choice. Like banks, Tata Capital also offers personal loans of up to Rs. 15 lakhs to salaried and self-employed professionals for a tenure of up to 72 months and up to 48 months respectively.Apply for Tata Capital Personal Loan

Tata Capital Personal Loan Eligibility Criteria

For Salaried Borrowers

  • Salaried individuals between the age of 21 and 58 can apply for Tata Capital personal loan.

  • They should have employment stability of at least 2 years with a minimum monthly salary of at least Rs. 20,000. However, the salary requirement varies among cities.

For Self-Employed Borrowers

  • Self-employed borrowers need to be between 25 and 65 years old to apply for a Tata Capital personal loan

  • Businessmen applying for a loan should be in the business for at least 3 years and other professionals, like doctors, are required to have a work experience of at least 5 years.

  • The minimum annual income of self-employed borrowers should be at least Rs. 2 lakhs.

5. Bajaj Finserv

Bajaj Finserv is also a popular NFBC that offers personal loans for a variety of reasons, like a wedding, travel, home improvement, etc. 5 Minutes instant approval, reasonable interest rates and disbursal of the loan amount within 72 hours, make Bajaj Finserv a go-to option for many borrowers.Apply for Bajaj Finserv Personal Loan

Bajaj Finserv Personal Loan Eligibility Criteria

  • Salaried individuals, residing in cities, like Mumbai, Bangalore, Chennai, Delhi, etc. are required to have a monthly salary of at least Rs. 40,000 to apply for a Bajaj Finserv personal Loan.

  • Salaried individuals from cities, like Surat, Nagpur, Jaipur ad Cochin should have a monthly salary of Rs. 35,000 and borrowers residing in cities, like Mysore, Baroda, Nasik, etc. should have a monthly salary of at least Rs. 30,000.

6. RBL Bank

RBL Bank is one of the fastest-growing private banks in India and is highly preferred by potential personal loan borrowers as the bank is known for its easy documentation, loan sanction, and disbursal. The bank offers personal loans up to Rs. 20 lakhs for a tenure of up to 60 months. Apply for RBL Bank Personal Loan

RBL Bank Personal Loan Eligibility Criteria

  • RBL Bank offers personal loans for salaried individuals who fall under the age bracket of 25 and 60 years.

  • The borrower should have a monthly salary of Rs. 25,000 and total work experience of 3 years with at least 1 year experience with the current employer

7. Citibank

Citibank is a well-known private-sector bank offering personal loans apart from core banking, financial lending and wealth advisory services. Incepted in India in 1999, Citibank today has 42 full-service Citibank branches in 30 cities and is the preferred banker to more than 45,000 small and mid-sized companies. Citibank is one of the preferred banks for personal loans, offering one of the highest numbers of personal loans in India.Apply for Citibank Personal Loan

Citibank Personal Loan Eligibility Criteria

  • Citibank offers personal loans for both salaried as well as self-employed professionals and non-professionals.

  • The person must be at least 21 years of age and must not be older than 65 years.

  • Person’s minimum annual income in case of a salaried person must be Rs. 2, 40, 000. In case of self-employed or a businessman, the income should be as following: Self-Employed Doctors: Rs.60, 000p.a; CA/ICWA: Rs.85, 000p.a; Self-Employed Engineers: Rs. 1, 56,000p.a; Other Self Employed: Rs. 1, 20,000p.a