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ECL Finance Personal Loan Eligibility Calculator

ECL Finance Personal Loan Eligibility Calculator is a great financial tool which helps you with Edelweiss Personal Loan eligibility check when you opt for ECL Finance Personal Loan apply online. To check what is the loan amount that you can avail, you can anytime use ECL Finance Personal Loan Eligibility Calculator. In order to check your ECL Finance Personal Loan Eligibility using ECL Finance Personal Loan Eligibility Calculator when you opt for ECL Finance Personal Loan apply online, you need input details like- your date of birth, your current city, net monthly income, and monthly expenses.

How to compute ECL Finance Personal Loan Eligibility?

ECL Finance Personal Loan Eligibility Calculator is a fantastic online tool which calculates your ECL Finance Personal Loan Eligibility within seconds. Before you go for ECL Finance Personal Loan apply online, ECL Finance Personal Loan Eligibility check using ECL Finance Personal Loan Eligibility Calculator lowers down your chances of personal loan rejection.

For higher ECL Finance Personal Loan Eligibility, you must have a stable and secured a job with a high salary package with good repaying ability.

ECL Personal Loan Eligibility Calculator computes Edelweiss Personal Loan Eligibility using 2 methods-

  • Multiplier Method

    The bank applies a multiplier based on your net salary and the company profile in which you work.

    ECL Finance Personal Loan Eligibility= Net take home salary*multiplier of 9 to 22

    ECL Finance Personal Loan Eligibility will be higher if the multiplier applied is high. And the multiplier will be higher if your company profile is high and your salary package is also high.

  • FOIR

    It is an abbreviated form of Fixed Obligations to Income Ratio. Under the FOIR process, the banks takes into account your existing liabilities like- rents, EMI of loans or credit card bills, which must not exceed 50% (or 75% for high earning customers) of your net income as fixed obligations. Or else ECL Personal Loan Eligibility will be low.

    FOIR= (Sum of fixed obligations/Net take home salary)*100

Which factors affect ECL Finance Personal Loan Eligibility Calculator?

When you have decided to opt for ECL Finance Personal Loan apply online, it is advisable to go for ECL Finance Personal Loan Eligibility check using ECL Finance Personal Loan Eligibility Calculator. Personal Loan Eligibility in ECL Finance is really high as ECL Finance personal loan is an unsecured loan. It means you do not have to keep any collateral with the bank so the bank cannot claim anything from you if you do not repay the loan.

The Following factors affects ECL Finance Personal Loan Eligibility Calculator-

  • Age

    A very important factor that affects ECL Finance Personal Loan Eligibility is the applicant’s age. The minimum and maximum age limit must is between 25 and 60 years. If you opt for ECL Finance Personal Loan apply online in your younger age, then your ECL Finance Personal Loan Eligibility will be high, as a young applicant have high repaying capacity.

  • Credit Score

    ECL Finance Personal Loan Eligibility is highly affected by your credit score which is nothing but your creditworthiness. IIFL Personal Loan Eligibility Cibil Score must be high which will lead to higher Personal Loan Eligibility in ECL Finance when you opt for ECL Finance Personal Loan apply online.

  • Location

    ECL Finance Personal Loan Eligibility gets affected by your geographical location. Edelweiss Personal Loan Eligibility will be higher if you reside in a metropolitan city and ECL Finance Personal Loan Eligibility will be low if you stay in an urban area.

  • Existing Liability

    ECL Finance Personal Loan Eligibility will be low if you have any existing liabilities like- EMI, rents or credit card bills payments, then it must not exceed 50% of your income. In order to have a higher Edelweiss Personal Loan Eligibility, you need to pay off all your debts before you opt for ECL Finance Personal Loan apply online.

  • Residential Address

    ECL Finance Personal Loan Eligibility criteria get affected by your residential address. ECL Finance Personal Loan Eligibility will be low if you reside in a rented house or flat but ECL Finance Personal Loan Eligibility criteria will be high if you stay in your own house. Staying in your own house will build trust with the bank and this will lead to high ECL Finance Personal Loan Eligibility. But if you stay in any rural area, then your ECL Finance Personal Loan Eligibility criteria will be low.

  • Employment

    A secured and stable job would increase your ECL Finance Personal Loan Eligibility in a positive manner. For self-employed individuals, minimum 5 years of work experience is needed to have a higher Edelweiss Personal Loan Eligibility criteria. For salaried employees, reputed organization under CAT A list for at least 1 year will increase your ECL Finance Personal Loan Eligibility.

ECL Finance Personal Loan Eligibility Criteria

ECL Finance Personal Loan Eligibility Criteria Salaried Individual
Age 25-60 years
Minimum Salary Rs. 20,000
Current Residence 2 years
Profession Employed in MNCs, public or private sector
Job Experience Minimum 1 year
CIBIL Score 750 or above
ECL Finance Personal Loan Eligibility Criteria Self-employed Individual
Age 25-65
Business Tenure Business Tenure
Minimum Income Rs. 4.8lakh/ year


*Interest rate and Loan approval are subjected to band discretion and approval.

FAQ's

Yes, you can easily check your eligibility for a personal loan for more than once using ECL Finance Personal Loan Eligibility Calculator.
You can go for apply online for ECL Finance Personal Loan using ECL Finance Personal Loan application form.
The minimum and maximum tenure to repay ECL Finance Personal Loan is 1 year to 5 years.
For ECL Finance Personal Loan Eligibility, your minimum credit score must be 750 or above.
Your Edelweiss Personal Loan Eligibility will be lower if you do not have a stable job.

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