Eligibility Test

Computation of Loan Eligibility: 

1. Monthly Income: …………………………..

2. Monthly Expenses: ……………………

   • EMI of other Loans

   • Monthly Living Expenses

3. Disposable Income ( A - B ): …………….

Maximum permissible EMI ( C / 1.5 ): ……………..

Note: Generally, banks and financial institutions consider disposable income to be 1.3 to 1.5 times permissible EMI. For our calculation part,  we shall consider 1.5 times in each case.

Hence, the loan eligibility amount shall be calculated considering maximum permissible EMI, loan tenure, and interest rate of the respective banks and financial institutions.