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Calculate your Personal Loan Eligibility

Use the calculator to determine the maximum loan amount you can avail

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₹1,000 ₹10,00,000

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You are eligible for a total loan amount of

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Disclaimer: The information provided is not guaranteed to be accurate or complete and is indicative and tentative in nature.

Benefits

EMI starting at ₹2,174/Lakh with interest rates from 10.99% p.a.*

100% digital loan process to get Instant Personal Loan Online

Zero foreclosure charges

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Personal Loan Eligibility

Before you apply for a personal loan, understanding the amount you are eligible for is imperative. This guide will walk you through the process and the factors that impact your eligibility, helping you take the necessary steps to secure FIRSTmoney or similar loan products.

To make informed decisions about your loan, understanding personal loan eligibility is necessary. This guide will walk you through the process and the factors that impact your eligibility, helping you take the necessary steps to secure FIRSTmoney or similar loan products.

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How the Personal Loan Eligibility Calculator Works

  • Input information: Enter details like your monthly income, fixed expenses, and tenure.
  • Eligibility Estimate: The calculator uses your provided details to estimate the loan amount you could be eligible for.
  • Instant Results: The tool instantly generates results, giving you an overview of your loan eligibility, helping you determine how much you can borrow.

By using this calculator, you can assess your eligibility quickly and make informed decisions regarding your financial needs.

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How to Use the Personal Loan Eligibility Calculator

  • Step 1: Add your monthly income and expenses
  • Step 2: Adjust the tenure based on your repayment capacity
  • Step 3: You can then compare your eligibility with FIRSTmoney smart personal loans versus other loan products to determine the best option for you
eligibility

Criteria for Personal Loan Eligibility

  • Age: Applicants must be between 21 to 60 years old.
  • Employment Type: Both salaried and self-employed individuals can apply for FIRSTmoney.
  • Monthly Income:Your monthly income plays a key role in determining the loan amount you are eligible for.
  • Late Payment Fee - 15% of Total Amount Due (subject to a minimum of ₹100 and a maximum of ₹1300)
  • Credit Score: A credit score of 730 or higher is required for FIRSTmoney to ensure favorable terms and faster approvals.

    If you meet the criteria, IDFC FIRSTmoney offers a flexible borrowing experience, with competitive interest rates and the facility to repay the loan in convenient EMIs or in full without any foreclosure charge. With a digital process, IDFC FIRST Bank’s FIRSTmoney provides a convenient way to access funds for personal needs, while ensuring a simple and transparent borrowing process.

  

Factors That Affect Personal Loan Eligibility

  • Monthly Income: The higher your income, the more loan amount you may qualify for
  • Credit Score: A good credit score (730 and above) increases chances of approval
  • Existing Debts: Current financial obligations, such as other loans or EMIs, can affect your eligibility
  • Employment Type and Job Stability: Lenders evaluate your employment history and job stability to assess your ability to repay the loan
  • Age and Loan Tenure: Your age and the loan tenure also play a role in the decision-making process
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Different Types of Personal Loan & Related Searches

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Personal Loan

IDFC FIRST Bank Personal Loan – Quick, hassle-free, and tailored to meet your financial needs.
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Personal Loan EMI Calculator

Plan your repayments effortlessly with the IDFC FIRST Bank Personal Loan EMI Calculator.
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Personal Loan Interest Rate

Get competitive interest rates on IDFC FIRST Bank Personal Loans for an affordable borrowing experience.
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Debt Consolidation Loan

Simplify your finances by consolidating multiple debts with an IDFC FIRST Bank Personal Loan.
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Emergency Loan

Get instant financial support during urgent times with an IDFC FIRST Bank Emergency
Apply now

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Travel Loan

Make your dream vacation a reality with an IDFC FIRST Bank Travel Loan.
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2 Lakh Loan

Get an instant ₹2 lakh Personal Loan from IDFC FIRST Bank with quick approval and flexible repayment options.
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FAQ

What is a personal loan eligibility calculator?

It is a digital tool that estimates the loan amount you could qualify for based on your income, credit score, and other relevant factors. It simplifies the process, giving you a clear picture of your eligibility for products like FIRSTmoney.

How to use a personal loan eligibility calculator?

To use the calculator, simply input your details like monthly income, age, credit score and current debts. The calculator will then generate an eligibility based on your input.

What are the factors that determine personal loan eligibility?

Eligibility for a personal loan is determined by factors such as age, income, credit score, current debts, job stability, and the loan tenure.

How to check personal loan eligibility?

You can check your eligibility using a Personal Loan Eligibility Calculator or by directly contacting IDFC FIRST Bank to discuss your specific requirements.

How to increase your personal loan eligibility?

To increase your eligibility for loans like FIRSTmoney, focus on improving your credit score, reducing existing debts, and ensuring a stable income flow.