How does a personal loan eligibility calculator determine loan eligibility? 

Personal loan eligibility calculators typically use the following factors to determine your loan eligibility:

• Monthly Income: Both your fixed and variable income sources are considered.
• Fixed income: This includes regular, predictable income like salary, wages, or pensions.
• Variable income: This includes income that fluctuates, such as commissions, bonuses, tips, or investment returns.
• Monthly Expenses: Your fixed expenses (like rent, utilities) and variable expenses (like groceries, entertainment) are considered.
• City of Residence: Your location can influence interest rates and eligibility criteria.
• EMI Affordability: The calculator assesses the maximum EMI you can comfortably afford.
• Loan Tenure: The desired loan term affects the monthly instalments and total interest paid.

Based on these factors, the calculator provides a preliminary estimate of your potential loan eligibility. For a more accurate and personalized offer, it is highly recommended to consult with a lender directly. They can assess your eligibility in detail, considering factors like your credit history, employment stability and any specific circumstances that might affect your loan application.