FAQ on Personal Loan Eligibility Calculator of ICICI bank?
Can I get a Personal Loan with a salary of Rs. 25000?
Yes, you can get a personal loan with a salary of Rs. 25000. However, the bank also considers other factors like your existing debts, repaying ability, and credit history before sanctioning the loan
How much Personal Loan can I get for my Salary?
ICICI bank disburses personal loan from Rs. 50000 to Rs. 50 Lakhs. The amount you get sanctioned is dependent on your age, income, and other factors.
What is the FOIR percentage for which the banks will sanction?
Fixed Obligations to Income Ratio (FOIR) is a metric used by banks and other financial institutions to assess an applicant’s loan eligibility. FOIR is calculated by just retaining the fixed monthly expenses and keeping out statutory deductions like PF, Investment Deductions, and Professional Tax. FOIR will give an idea about the disposable income that the applicant can have for new loans
Will checking my eligibility affect my credit score?
No, your credit score will not be affected by checking your eligibility in our ICICI Bank Personal Loan Eligibility Calculator. It is considered as soft enquiry, which means it does not leave any trace in your credit report
What are the documents required by ICICI bank for personal loan sanctioning?
- ID proof
- Address Proof
- Salary Slip last 3 months for salaried
- Audited Financials for last two years for self-employed
- Bank Statement last 6 months