Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

Check Your Loan Eligibility

You are eligible for a loan amount of up to


Disclaimer Above personal loan eligibility calculator merely offers an approximate estimate of the amount of... Read More

SMFG India Credit’s personal loan eligibility calculator is a free-of-cost online tool that eases your borrowing experience. The personal loan eligibility checker informs you about the amount you can borrow as per your eligibility. Now, your eligibility is determined by your age, place of residence, monthly income, ongoing EMIs, loan tenure, and interest rate. You can input into the online calculator the required details and get an idea of the maximum limit of the personal loan amount you can request for, immediately.

Personal Loan Eligibility

  • Individuals age between 21 to 60 years. This includes individuals who are self-employed, entrepreneurs and salaried.
  • Minimum monthly income for applicants from Delhi and Mumbai should be ₹25,000. Applicants from other parts of the country need to have a monthly income of ₹20,000
  • CIBIL score must be 750 or above. 
  • The EMI of their loan cannot be more than 60%-70% of their monthly income.

How to use the Personal Loan Eligibility Calculator?

Our online personal loan eligibility calculator is a simple and helpful tool that gives you an instant estimate for your eligible personal loan amount.

  • Select your location
  • Enter your age. You have to be at least 21 years old when you apply for a loan, and a maximum of 65 years of age, at the time of loan maturity.
  • Select your net monthly income (or yearly profit after tax if you are self-employed). Please note that this amount should be after all tax deductions.
  • Select your monthly EMI. This should be equal to the sum of all EMIs that you are currently paying, including those on your credit card.

You will be able to see the personal loan amount you are eligible for on the right side. You can change the interest rate and tenure as per your preference.

Page also available inहिन्दी - Hindi


How can I check personal loan eligibility?

You can use our free-of-cost personal loan eligibility checker. The calculator takes into account your existing EMIs, monthly income, birth date, residence city, interest rate, and tenure to calculate your personal loan amount eligibility. Getting a personal loan eligibility check online helps you estimate the amount you can afford to borrow and repay comfortably. Both salaried and self-employed individuals are welcome to apply with SMFG India Credit.

How much personal loan can I get on my salary?

The maximum personal loan amount that you can get on your salary is ` 25 lakhs. The finalization of the loan amount depends on your net monthly income and existing financial obligations. Our terms and conditions at the time of the loan application will also influence the final quantum of finance. The greater your repayment capacity, the higher will be the offered loan amount. Your repayment capacity is deduced by how much you can spare towards monthly repayments and your credit history. To know more, please see our personal loan eligibility calculator.

Can I get a Personal Loan with a low or Minimum CIBIL Score?

We, at SMFG India Credit, work towards bringing an ideal personal loan offer at an affordable rate. It is advisable to have a good repayment record. The closer your CIBIL score is towards 900, the higher are your chances of getting the loan approved with us. A minimum CIBIL score of 750+ is desirable. For profiles with scores lower than 750, other criteria may be applied. To know more, please feel free to contact us.

How can I get Personal Loan without Salary Slip?

Currently, we do not provide personal loans for customers who don’t have a salary slip. However, if you are self-employed, you can provide your bank statements and other documents to show income proof. You can use our online personal loan eligibility checker to know the personal loan amount you are eligible for.

How to improve personal loan eligibility?

You can improve your personal loan eligibility by maintaining a good credit score and history, applying with a lender who’s required criteria fits your profile, using our personal loan eligibility calculator to estimate of the maximum amount you may get and apply for an amount within this limit, pay off existing debts, adding a close family member with a stable income and good credit score as a co-applicant, and so on.

How is personal loan eligibility calculated based on salary?

Your salary is an important criterion for determining personal loan eligibility. Many lenders require applicants to earn a minimum monthly salary to consider their application. For instance, at SMFG India Credit, salaried applicants must have a minimum monthly salary of at least INR 25,000 (for residents of Mumbai & Delhi) or INR 20,000 (for residents of other Indian cities). Many lenders, including SMFG India Credit, do not accept applicants who receive their salary in the form of cash.

How does the applicant’s income affect personal loan eligibility?

Applicants with a good income have higher chances of getting approved for a personal loan. Use our personal loan eligibility criteria to get an estimate of the maximum amount you may be able to get based on a few key parameters including income.

How to qualify for personal loan?

To qualify for a personal loan, you need to fulfill the eligibility. These include age, your employment type, your employment status, your net monthly income, your CIBIL score, repayment history, work experience, and the maximum EMI allowed as per your salary. Please note that depending on the lender’s policy, additional criteria may also be applied.

Applicants can use the personal loan eligibility calculator to check their eligibility.

How to check if I am eligible for a personal loan or not?

To determine personal loan eligibility, use the Personal Loan Eligibility Calculator. The calculator calculates whether the applicant meets the eligibility criteria by assessing details like monthly income, age, existing liabilities, repayment capacity and good credit score. It also estimates the loan amount the person can apply for.

How does the applicant’s age affect personal loan eligibility?

The applicant's age plays a crucial role in determining personal loan eligibility. Typically, individuals aged 21 to 60 years are eligible. Younger applicants may have the advantage of longer loan tenures over older applicants, impacting the loan amount they qualify for.

What are the factors that affect my eligibility for a personal loan?

Factors influencing your personal loan eligibility are:

  1. You should be between 21 to 60 years.
  2. Minimum monthly income for applicants from Delhi and Mumbai should be ₹25,000 and ₹20,000 for applicants from other parts of the country.
  3. CIBIL score must be 750 or above.
  4. The EMI can't exceed 60%-70% of your monthly income.
  5. You should be a resident Indian.

Why is determining my eligibility so important while applying for a personal loan?

Knowing eligibility helps applicants understand their chances of approval and the loan amount they can expect. This knowledge is crucial as it prevents futile loan applications that may lead to multiple credit inquiries, negatively impacting credit scores. By evaluating eligibility beforehand, borrowers can protect their creditworthiness, which is crucial for future credit needs.

Who is not eligible for a personal loan?

Individuals with poor credit history, low income, unstable employment, or under 21 years of age might face challenges in loan approval. Lenders assess credit scores and income stability to ensure the borrower can repay the loan. High existing debt obligations can also reduce eligibility, indicating a higher debt burden on the borrower.

Are self-employed individuals eligible for personal loans?

Yes. The eligibility criteria for self-employed professionals:

  1. Minimum annual turnover & yearly profit after taxes according to the nature of the profession or domain of work.
  2. 3 years of business existence
  3. Age between 22 and 60 years
  4. Credit Score should be 750 or above
  5. EMI as a fraction of income can be up to 65%

What is the personal loan eligibility criteria for salaried professionals?

The eligibility criteria for salaried professionals:

  1. Age – You should be between 21 and 60 years.
  2. Profession – You should be an employee of either a public or private sector company. 
  3. Income – Monthly salary of Mumbai/Delhi residents should be at least INR 25,000 and INR 20,000 otherwise. 
  4. Credit score – Your credit score should be 750 or above.
  5. Experience – A minimum work experience of 1 year at the current workplace.

What are the benefits of the Personal Loan Eligibility Calculator?

Using the Personal Loan Eligibility Calculator, borrowers can quickly assess their eligibility without affecting their credit scores. Knowing eligibility in advance helps applicants plan their loan requirements, compare offers from different lenders, and make well-informed borrowing decisions. The calculator streamlines the loan application process and saves time and effort for both borrowers and lenders.

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