Loan Eligibility: What Lenders Look For

Eligibility determines loan amount and interest. Lenders evaluate both your ability and willingness to repay.

Main factors

• Income: Higher steady income increases borrowing capacity.
• Credit score: A strong CIBIL score leads to better rates and higher limits.
• Existing liabilities: EMIs on other loans reduce available repayment capacity.
• Employment & stability: Tenure in job and employer type affect risk assessment.
• Age & loan tenure: Lenders consider age to ensure repayment before retirement.

How to improve eligibility

1. Increase documented income (bonus, salary hikes, formalize income sources).
2. Reduce existing high-cost debt and EMIs.
3. Correct errors on your credit report and maintain timely payments.

Estimate how much you can comfortably borrow using the EMI Calculator.