Personal Loan Eligibility Calculator

Choosing a FIRSTmoney personal loan is beneficial because of:

• Predictable EMIs:

  
  Using the FIRSTmoney personal loan EMI calculator, you can easily know the exact amount of EMI upfront before even borrowing. You simply have to enter the loan amount, rate of interest, and loan tenure to know the exact outgo and see if it fits your budget. EMIs start as low as ₹2,124/lakh.



• Competitive interest rates:

  
  FIRSTmoney offers smart personal loans starting from 9.99% p.a. for eligible profiles based on CIBIL score, income, and loan tenure. A lower interest rate directly cuts down the total interest cost.



• 100% digital process:

  
  Starting from application to disbursal, you can complete the entire process of availing a FIRSTmoney loan online, without having to visit branches or uploading any documents.



• Instant approval and quick disbursal:

  
  With FIRSTmoney loans, you get instant approvals within 5 minutes and funds disbursed into your bank account within 30 minutes after approval.



• Zero foreclosure charges :

  
  Close the loan early without a foreclosure fee and save on future interest. This is a helpful benefit if you expect a bonus, asset sale, or a cash surplus.



• Multiple on-demand loans :

  
  Withdraw your entire loan offer amount in one go or withdraw as per your need. You don’t need to reapply from scratch.

To use the personal loan eligibility calculator efficiently, follow these steps:

• Input Information: Enter details like your monthly income, fixed expenses, and loan tenure.
• Eligibility Estimate: The calculator uses your provided details to estimate the loan amount you could be eligible for.
• Instant Results: The tool instantly generates results, giving you an overview of your loan eligibility, helping you determine how much you can borrow.
• EMI Preview: Pair it with the personal loan EMI calculator to check the exact monthly EMI for different loan amounts and tenures.
• Adjust and Compare: Change inputs on the go to compare scenarios and pick a comfortable EMI and tenure.

By using this calculator, you can assess your eligibility quickly and make informed decisions regarding your financial needs.

• Age: Applicants must be between 21 to 60 years old.
• Employment Type: Both salaried and self-employed individuals can apply for FIRSTmoney.
• Monthly Income: Your monthly income plays a key role in determining the loan amount you are eligible for.
• Credit Score: A CIBIL score of 710 or higher is required for FIRSTmoney to ensure favorable terms and faster approvals.

If you meet the criteria, FIRSTmoney offers flexible repayment tenures ranging from 9 to 60 months, with competitive personal loan interest rates starting from 9.99% p.a. and the facility to repay the loan in convenient EMIs or in full without any foreclosure charge. With a 100% digital process, IDFC FIRST Bank’s FIRSTmoney provides a convenient way to access funds for personal needs, while ensuring a simple and transparent borrowing process.