Personal Loan Eligibility Calculator

With the help of the eligibility calculator on Bajaj Markets, you can assess the personal loan amount you may qualify for based on some basic details. For this, you need to follow the simple steps listed below:

• Depending on your employment type, select 'Salaried' or 'Self Employed'
  

• Use the sliders to enter your ‘Net Monthly Income’ and ‘Monthly Expenses’
  

• The amount you are eligible to borrow will be displayed on the right 

 

Note that you can adjust the sliders as many times as required to assess various scenarios. This will help you thoroughly check your eligibility in different situations and make an informed decision.

Here are some advantages of using the personal loan eligibility calculator available on Bajaj Markets:

• Avoid Loan Rejection

A personal loan eligibility calculator shows how much loan you're eligible for based on your income and obligations. This helps you avoid applying for a loan you may not qualify for, preventing negative impacts on your credit score.

• Plan Your Budget

By estimating your EMI with the calculator, you can better plan your monthly expenses and ensure the loan fits your financial situation. Accordingly, you can create a unique and effective loan repayment strategy.

• Compare Offers

The calculator allows you to check your eligibility and assess the offers for which you can qualify. You can check offers from over 20 lenders on Bajaj Markets to find an option which you qualify for and best suits your needs.

• Save Time

A personal loan eligibility calculator quickly provides results, helping you avoid the hassle of manually calculating your eligibility. This saves time and speeds up the loan application process.

• Avoid Overborrowing

The calculator helps you assess the right loan amount based on your financial capacity. This insight prevents you from taking on more debt than you can handle. It helps reduce the risk of financial strain in the future.

To calculate your personal loan eligibility, you need to inform the lender of your employment type, net income, and details of your existing financial obligations. These details are used to compute your debt-to-income (DTI) ratio. This is a representation of the monthly outgo from your net earnings each month which is directed towards the payment of your debts. Your repayment capability is determined on the basis of this ratio. If your current responsibilities are manageable, you may be eligible for a higher loan amount. If your liabilities are bigger, your loan eligibility may be reduced.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.