Personal Loan Eligiblity

Under Multiplier Method the Banks provide a simple multiplier on the Monthly Net Take Home Salary to calculate the Loan Amount Eligibility of a customer.


This multiplier varies from 9 to 18 depending upon your profile (Company's Name, NTH, etc.). Under the FOIR Method, the maximum EMI that most of the Banks/NBFCs offer to a customer varies from 50-75% of their NTH salary. The banks can also consider existing obligations & credit card outstanding to calculate the Final Loan Eligibility. You can calculate your Eligibility by filling up your details in below form.

The Eligibility of a Personal Loan is calculated in two ways:

Multiplier Method

FOIR (Fixed Obligation Income Ratio).

Eligibility Criteria ( Annual Income)
Bank Salaried Self Employed
Axis Bank 1,80,000 p.a. 2,00,000 p.a.
Fullerton 1,44,000 p.a. 1,50,000 p.a.
HDFC Bank 1,80,000 p.a. -
Kotak Bank 1,80,000 p.a. 1,80,000 p.a.
ICICI Bank 1,44,000 p.a. -

Age Criteria
Bank Salaried Self Employed
Axis Bank 21 to 60 24 to 65
Fullerton 21 to 60 -
HDFC Bank 21 to 60 -
Kotak Bank 23 to 60 25 to 60
ICICI Bank 21 to 60 -

Residence(min)
Bank Salaried Self Employed
Axis Bank - -
Fullerton 1 year -
HDFC Bank 1 year 1 year
Kotak Bank 1 year 1 year
ICICI Bank 1 year -
Loan Amount
Bank Salaried Self Employed
Axis Bank 1,00,000-20,00,000 1,00,000-20,00,000
Fullerton 35000-3,00,000 -
HDFC Bank 50,000-15,00,000 -
Kotak Bank 50,000-15,00,000 50,000-15,00,000<
ICICI Bank 40,000-15,00,000 -
Tenure(months)
Bank Salaried Self Employed
Axis Bank 12-60 12-60
Fullerton 12-48 -
HDFC Bank 15-60 -
Kotak Bank 12-60 12-60
ICICI Bank -

Processing Fees
Bank Fees
Axis Bank 2%
Fullerton 2%
HDFC Bank 0.8%-2.5%
Kotak Bank upto 2%
ICICI BANK upto 2%-3%
Reliance Consumer Finance 2%-2.5%
SBI 2%-2.5%
Prepayment Charge
Bank Fees
Axis Bank 2%
Fullerton 2%
HDFC Bank 0.8%-2.5%
Kotak Bank upto 2%
ICICI BANK upto 2%-3%
Reliance Consumer Finance 2%-2.5%
SBI 2%-2.5%
Current Experience
Bank Salaried Self Employed
Axis Bank - -
Fullerton 6 Months -
HDFC Bank 6 Months -
Kotak Bank 1 year 3 year
ICICI Bank 1 year -
Document Required
Bank Salaried Self Employed
Axis Bank Identity proof, salary slip/form16 with Salary certificate, residence proof, Proof of telephone Identity proof, last two years ITR,residence proof, proof of telephone
Fullerton Identity proof, residence proof ,last 3 months bank statement -
Kotak Bank Identity proof, Last 2 months salary slip, form 16,residence proof,6 months bank statement, Last 2 year ITR, business proof , Identity & age proof, Address proof , last 6 months bank statement
Document for professional
special10
Bank
Axis Bank -
Deutsche Bank Professional qualification For eg. Degree, Registration with professional council etc.
HSBC -
HDFC Bank Proof of qualification, Highest degree
ICICI Bank Proof of qualification, Highest degree