ICICI Bank Personal Loan Eligibility

ICICI Bank Personal Loan Eligibility Calculator is a great tool which helps you whether you are suitable for ICICI Bank Personal Loan Eligibility Criteria when you go for ICICI Bank Personal Loan apply online. With entering the details like your net take home salary, your current job, existing liability and your credit score in ICICI Bank Personal Loan Eligibility Calculator you get to know ICICI Bank Personal Loan Eligibility Criteria before you opt for ICICI Bank Personal Loan apply online. ICICI Bank Personal Loan Eligibility Calculator helps your chances of personal loan rejection to almost zero. So, when you opt for ICICI Bank Personal Loan apply online, with the help of ICICI Bank Personal Loan Eligibility Calculator your loan eligibility is proportionate with repaying capacity, creditworthiness and your financial creditibility.

How would you calculate ICICI Bank Personal Loan Eligibility?

To check ICICI Bank Personal Loan Eligibility online, you can simply use ICICI Bank Personal Loan Eligibility Calculator. When you go for ICICI Bank Personal Loan apply online, you must have a stable job with good credit history and repayment capability that you can check with ICICI Bank Personal Loan Eligibility Calculator.

To evaluate ICICI Bank Personal Loan Eligibility online, there are 2 simple methods used that are explained below-

• Multiplier Method

  In this method, the bank applies a multiplier which is a function of your net take home salary and the company profile.
  
  ICICI Bank Personal Loan Eligibility= Net take home salary*multiplier of 9 to 22
  
  Higher your take home salary and the company profile, higher will be the multiplier and higher will be ICICI Bank Personal Loan Eligibility.

• FOIR

  Commonly known as Fixed Obligation Income Ratio. If your have a financial liabilities like EMIs or credit card bills to pay, your FOIR must be the ratio of your net take home salary and your fixed obligations.
  
  FOIR= (Sum of fixed obligations/Net take home salary)*100
  
  The bank takes 50% to 75% of your net take home salary as EMI. ICICI Bank Personal Loan Eligibility criteria specifies that the FOIR must not exceed 75% of your net income.

Which factors affect ICICI Bank Personal Loan Eligibility Calculator?

As you know, if you go for ICICI Bank Personal Loan apply online, you donot have to pledge any collateral with the bank as personal loan is an unsecured loan. So, ICICI Bank Personal Loan Eligibility criteria is high. So, to calculate ICICI Bank Personal Loan Eligibility online with ICICI Bank Personal Loan Eligibility Calculator, you need to know the factors which affect ICICI Bank Personal Loan Eligibility Calculator that are explained below-

• Age

  As an applicant, your age must be in between 23 to 58 years for ICICI Bank Personal Loan Eligibility. The more younger you are, the higher will be ICICI Bank Personal Loan Eligibility. Moreover, bank can trust you more and provide you with some best offers when you suit ICICI Bank Personal Loan Eligibility criteria.

• Employment

  To satisfy ICICI Bank Personal Loan Eligibility online, you must have a stable job. If you work in a reputed organization under CAT A list in case you are a salaried individual, your ICICI Bank Personal Loan Eligibility will be really high. For a self-employed individual, you must have a 5 years of work experience. Job stability really affects ICICI Bank Personal Loan Eligibility online in a positive way.

• Credit Score

  ICICI Bank Personal Loan Eligibility gets highly affected by your credit score. It is nothing but your creditworthiness which shows how you pay off your loan. A higher credit score helps in ICICI Bank Personal Loan criteria to be high. In order to have a high ICICI Bank Personal Loan Eligibility online calculated by ICICI Bank Personal Loan Eligibility calculator, you must try to maintain a higher credit score.

• Existing Liability

  In case you have an existing liability of paying credit card bills or EMIs, your ICICI Bank Personal Loan Eligibility will be low. If your existing liability exceeds 45% of your net monthly income, then ICICI Bank Personal Loan Eligibility will be very low.

• Residential Address

  For ICICI Bank Personal Loan Eligibility criteria to be high, you must have your own residential address. Banks will trust you more if you have a your own residence. But if you stay in a rented house, ICICI Bank Personal Loan criteria will be low. So, ICICI Bank Personal Loan Eligibility will be high for a stable residential address.

• Location

  For ICICI Bank Personal Loan criteria, your location plays a major role. If your geographical location is in a metropolitan city, then ICICI Bank Personal Loan Eligibility criteria will be high. But if you stay in a rural location, then ICICI Bank Personal Loan Eligibility online will be low.

ICICI Bank Personal Loan Eligibility Criteria