Eligibility Calculator

Loan eligibility calculator by Loanbaba provides an accurate calculation of the loan amount you can get from financial institutions. Before you apply for a loan, it is always best to check the loan eligibility criteria specified by banks and NBFCs. If you fit these criteria, you have a better chance of getting your loan approved. However, to have a realistic understanding about your loan amount eligibility, you need more than just going through the eligibility criteria by the financial institutions, as most of these only specify the minimum income or business turnover required, and the minimum or maximum loan amount you can avail.

But, who will tell you the actual loan amount you can borrow? Here, steps in the free-of-cost financial tool by Loanbaba – the loan eligibility calculator. It takes into consideration your income and financial liabilities, even the loan tenure you are looking for with the rate of interest applicable, to inform you about the exact loan amount you can expect. Thus, to have the best understanding about your loan amount eligibility, use this tool. It is easy to use and gives accurate results.

You can simply visit loanbaba.com or Download the app apply online.

How does Loanbaba’s Loan Eligibility Calculator work?

The eligibility calculator by Loanbaba informs you about the eligible loan amount, total interest to be paid till tenure's end, and the EMI amount. Following is the way the calculator works on the website:

• In 'New Monthly' field, enter the net monthly income you draw.
• On the 'interest rate' section, adjust the slider on a desired rate of interest.
• In the section 'Other EMIs', enter the ongoing EMI amount.
• In the loan tenure section, adjust the slider to a desired tenure value.
• The loan calculator will then calculate the loan amount eligibility based on the above-mentioned details you enter.

NOTE: You can similarly use the free-of-cost loan EMI calculator on the website to understand the most affordable EMI options.

Why Should You Use the Eligibility Calculator by Loanbaba?

The loan eligibility calculator on website displays the quantum of finance you can avail from banks/NBFCs. It offers the following benefits:

• The loan calculator tool is dynamic and comes at no charge. You can use it free-of-cost.
• You do not have to manually calculate the loan amount you are eligible for as the calculator does the task and save you precious time and effort.
• The calculator also details out the total interest payment you have to make through the loan tenure.
• You can enter different values in fields of interest rate, current EMIs, monthly income, and tenure, to find out different results for loan amount eligibility.
• To give you a realistic calculation of loan amount eligibility, the calculator takes into account the ongoing EMIs.
• This way, the financial tool helps you to chalk out a realistic budget for a month, according to which you will understand the actual affordable EMI on a particular loan amount.