Eligibility Test
Computation of Loan Eligibility:
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Monthly Income: …………………………..
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Monthly Expenses: ……………………
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EMI of other Loans
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Monthly Living Expenses
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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 of permissible EMI.For our calculation part , we shall consider 1.5 times in each case.
Hence, loan eligibility amount shall be calculated considering maximum permissible EMI, loan tenure and interest rate of the respective banks and financial institutions.