Personal Loans India | Best Personal Loan Interest Rates in India | Easy personal Loans » Eligibility Methods Category http://www.personalloansindia.org Comparisons and Analysis of All Information of Personal Loans in India Thu, 29 Sep 2011 11:54:57 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Common Eligibility For Personal Loan http://www.personalloansindia.org/2007/06/06/eligibility-methods-in-personal-loan/index.html http://www.personalloansindia.org/2007/06/06/eligibility-methods-in-personal-loan/index.html#comments Wed, 06 Jun 2007 16:08:12 +0000 admin http://www.personalloansindia.org/2007/06/06/eligibility-methods-in-personal-loan/index.html
  1. Income Basis – on the basis of ITR, salary or form 16.
    One can expect a Loan equal To EMI one half Of Monthly Income.

    Monthly Income (MI) For Businessman
    MI= 1/12*(Net Profit As Per ITR + Interest To Partners/ Directors + Interest On Unsecured Loans + Depreciation)

    Monthly Income For Salary 100% Of Fix Monthly Component + 50% Of Variable Components Such As Bonus, Commission Etc. Which Is Not Fixed By Its Nature

  2. Running Emi’s basis which is called surrogate income proof or track basis

    3. Running Emi’s, If Emi Paid Are >= 9 Or 50% Of The Total Tenure.

  3. Credit card basis- Twice of credit card limit, if last three months credit card payments made regularly without any default. The maximum loan amount one can go up to Rs.2.50 lac.
  4. Insurance Premium Paid Basis – One can get 5 times of annual premium of any Life Assurance Policy, if last two years premium are paid regularly without any default or delay. The maximum loan amount one can get is Rs.2.50 lac.
]]> http://www.personalloansindia.org/2007/06/06/eligibility-methods-in-personal-loan/index.html/feed 0