Personal Loan Eligibility Calculator
Check your eligibility for personal loans based on income and obligations.
Check Your Eligibility
Eligibility Results
How eligibility is calculated
Banks use Fixed Obligation to Income Ratio (FOIR) to determine loan eligibility. Typically, total EMIs should not exceed 40-50% of income.
Net Income = Gross Income - Existing EMIs - Minimum ExpensesAvailable for EMI = Net Income × 0.40 (40% rule)Maximum Loan = Calculate using EMI formula backwardsFactors affecting eligibility:
• Monthly income (higher = more eligible)
• Existing obligations (lower = more eligible)
• Age (25-45 is ideal, affects tenure)
• Employment stability
• Credit score (higher = better rates & amounts)
• Employer reputation
Typical limits: NPR 50,000 - 25 lakh for personal loans
FAQs
What's the minimum salary for personal loan?
Most banks require minimum monthly income of NPR 25,000-30,000 for salaried and NPR 50,000+ for self-employed.
Can I get a loan without salary slip?
Difficult for personal loans. Banks need income proof. Self-employed can show IT returns, bank statements, or business documents.
Does checking eligibility affect credit score?
Soft inquiries (like this calculator) don't affect score. Formal loan applications create hard inquiries which slightly impact score.
Can I get a loan with existing loans?
Yes, if your debt-to-income ratio is under 40-50%. Banks assess total obligations, not number of loans.
What documents do I need?
Citizenship, salary slips (3-6 months), bank statements (6 months), employment letter, IT returns (for self-employed).