Why to bother and calculate personal loan eligibility? Is it worth spending time on it? Banks anyways does it for us, right?
Yes, but bank’s intervention happens often very late. By the time bank’s disclose our loan eligibility, we are almost on the verge of loan disbursement. Where is ‘loan planning‘ here?
As an individual, caring for loan eligibility is a good habit. This good habit is a part of loan planning. Non-preparedness about ‘how to manage the loan’, can lead to several disruptions in personal life. Why? Because loan can drastically increase ones “expense burden“.
Loan Eligibility Calculator
|Take Home Income (Rs./month)|
|Loan Interest Rate (%)|
|Loan Duration (in months)|