Loan EMI Calculator
Total Down Payment (TDP)
(TDP = D + P)
Loan EMI (LE)
(PLA= A – D)
(PLA = Principal Loan Amount)
(LE = [PLA x R x (1+R)^T]/[(1+R)^T-1] )
Total Interest Payable (TIP)
(TIP = LE * T)
Total Payment (TP)
(TP = LA + TIP + P)
Personal Loan Eligibility Requirement
Individual salaried persons should meet personal loan eligibility criteria before applying. 24hr Loan personal loan eligibility calculator provides instant monthly repayment details.
| Residence | Indian Region only |
| Age Criteria | 21 to 55 years |
| Job Profile | Private, Public, Government Employee |
| Net In-hand Salary | Rs. 12,000 |
| Work Experience | At least 12 month old |
| CIBIL Score | -1 or 700+ |
Documents Required for Personal Loan
24hr Loan keeps it a simple document process for personal loans. The below-required documents list should be near you at the time of loan application:
- KYC Documents: Pan Card / Aadhaar Card / Voter Card/ Passport
- Residential Documents: Electricity bill / Gas bill
- 3 months salary slip required
- 1-year salary statement
- Guarantor Aadhaar Card
Different Lender’s Personal Loan Eligibility
| Lenders | Interest Rate (p.a.) | Loan Amount | Age Required | Salary |
| WeRize | 16% to 21% p.a. | Rs. 30,000 to Rs. 5 lakhs | 21 to 55 years | Rs. 12,000 |
| Fibe | 24% to 30% | Up To Rs. 5 lakhs | 21 to 55 years | Rs. 15,000 |
| InCred | 11.49% to 18% p.a. | Rs. 50,000 to Rs.7. 5 lakhs | 21 to 55 years | Rs. 15,000 |
| IDFC | 12.50% to 18% p.a. | Up To 10 lakhs | 23 to 58 years | Rs. 15,000 |
| PaySense | 1.4% to 2.3% per month | Rs. 50,000 to Rs. 5 lakhs | 21 to 60 years | Rs. 18,000 |
| Upward | 9% to 32% p.a. | Up To 5 lakhs | 21 years or above | Rs. 20,000 |
| Axis Bank | 10.49% to 22% | Up To 40 lakhs | 21 to 60 years | Rs. 25,000 |
| Bandhan Bank | 10.50% to 18% p.a. | Up To 25 lakhs | 21 to 58 years | Rs. 20,000 |
| Finnable | 16% to 22% p.a. | Up To 10 lakhs | 21 to 58 years | Rs. 15,000 |
Affect on Personal Loan Eligibility
The below factor affects personal loan eligibility. Check the below list:
- Applicant’s monthly salary plays an important role in personal loan eligibility.
- Your residence should be own. Most lenders love applicants who own residences and provide faster loan eligibility.
- Existing loans must fall under the debt-to-income ratio.
- A credit score plays a role like an umpire. The lender will check the credit score before the loan process.
Frequently Asked Questions
How to check the personal loan eligibility calculator?
24hr Loan keep it simple to check the personal loan eligibility calculator. Without installing the application, visit our website and use the eligibility calculator. Provide the below details to get accurate results:
1) Loan Amount
2) Repayment Tenure (months)
3) Rate of interest
Get the result after clicking on the calculate button. The result will show with diagram picture that will help to know the easy way.
How much salary is needed for a personal loan?
24hr Loan offers a personal loan at a minimum of Rs. 12,000 salary. You may check other top lenders depending on your salary.
How much credit score is enough for a personal loan?
A -1 or 700+ credit score is fair enough to apply for a personal loan. But a better credit score gives you faster loan approval.
Is a guarantor required for a personal loan?
Most of the time guarantors are not required to apply for personal loans. But in many cases, it will require guarantor KYC documents.