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Personal Loan Eligibility Calculator

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

Monthly Income

₹

₹1,000 ₹10,00,000

Loan Tenure

Months

12 months 60 months

Total Monthly Obligation

₹

₹0 ₹40 Lakhs

You are eligible for a total loan amount of

Apply for Personal Loan

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

Benefits of FIRSTmoney Personal Loan

EMI starting at ₹2,124/Lakh with interest rates from 9.99% p.a.*

100% digital loan process to get Instant Personal Loan Online

Zero foreclosure charges

Overview
How Calculator Works
How to use calculator
Criteria
Factors
FAQs

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Personal Loan Eligibility

A personal loan eligibility calculator is an online tool that helps you assess whether you qualify for a personal loan based on key factors such as your income, existing financial obligations, age, and employment type. It streamlines the loan planning process by providing a clear picture of your eligibility before you apply. IDFC FIRST Bank’s personal loan eligibility calculator delivers instant and accurate results, helping you make informed financial decisions with confidence.

Whether you're planning a wedding, taking a trip, managing a medical emergency, or covering other personal expenses, consider IDFC FIRST Bank’s FIRSTmoney — a smart personal loan that offers instant access to funds of up to ₹10 lakhs. With FIRSTmoney, you benefit from competitive interest rates starting at just 9.99% p.a., zero foreclosure charges, and flexible repayment tenures ranging from 9 to 60 months. Use the personal loan eligibility calculator to find out how much you can borrow and apply for a FIRSTmoney personal loan to meet your financial goals with ease.

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.

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

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 personal loan 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

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.
Know more

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 FIRSTmoney's Debt Consolidation Loan.
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Emergency Loan

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

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.
Apply now

Personal Loan Eligibiltiy FAQs

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.
You can also check out our emi calculator for personal loan

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.

How does my current EMIs affect my personal loan eligibility?

Lenders assess your repayment capacity using your existing EMIs and monthly income. If your EMI-to-income ratio is too high, it may reduce your eligibility or lead to loan rejection. Maintaining a healthy ratio can improve your chances of approval for a new personal loan.

How does my age affect my eligibility for a personal loan?

Age reflects financial stability and repayment years. Younger applicants have a longer repayment capacity, while older ones nearing retirement usually have to opt for shorter tenures. Most lenders require applicants to be between 21 and 60 years. Your age can influence both the loan amount and tenure eligibility.

How to get a personal loan without a salary slip?

If you don't have a salary slip, you can submit alternative income proof like bank statements, Form 16, or income tax returns. Some lenders offer flexible documentation for eligible applicants. A stable income source and strong credit score can strengthen your chances of approval.