Check your personal loan eligibility from 28+ banks. Compare rates from 10.3% p.a. Free online calculator.
Personal Loan eligibility depends on your monthly income, existing obligations, credit score, age, and employment type. Banks use FOIR (Fixed Obligation to Income Ratio) of around 45% to determine your maximum EMI capacity.
| Bank | Rate | Max Amount | Eligible (50K Income) | Eligible (1L Income) | Processing Fee |
|---|---|---|---|---|---|
| Indian Bank | 10.30 - 14.15% | ₹10 L | ₹7,25,125 | ₹14,50,249 | 1% of loan amount + GST |
| PNB | 10.40 - 14.85% | ₹15 L | ₹7,24,073 | ₹14,48,145 | 1% of loan amount + GST |
| Axis Bank | 10.49 - 22.00% | ₹40 L | ₹6,92,356 | ₹13,84,712 | Up to 2% |
| IndusInd Bank | 10.49 - 26.00% | ₹30 L | ₹6,92,356 | ₹13,84,712 | Up to 3% |
| Yes Bank | 10.49 - 20.00% | ₹40 L | ₹6,92,356 | ₹13,84,712 | Up to 2.50% |
| Federal Bank | 10.49 - 17.99% | ₹25 L | ₹6,92,356 | ₹13,84,712 | Up to 3% |
| IDFC First Bank | 10.49 - 23.99% | ₹40 L | ₹6,92,356 | ₹13,84,712 | Up to 3.50% |
| HDFC Bank | 10.50 - 21.00% | ₹40 L | ₹6,92,256 | ₹13,84,511 | Up to 2.50% of loan amount |
| IDBI Bank | 10.50 - 14.50% | ₹10 L | ₹7,23,023 | ₹14,46,045 | 1% of loan amount + GST |
| Canara Bank | 10.55 - 14.20% | ₹10 L | ₹7,22,498 | ₹14,44,997 | 1% of loan amount + GST |
| Bank of Baroda | 10.60 - 14.50% | ₹20 L | ₹7,21,975 | ₹14,43,949 | 2% of loan amount + GST |
| Central Bank | 10.70 - 14.70% | ₹10 L | ₹7,20,929 | ₹14,41,858 | 1% of loan amount + GST |
| ICICI Bank | 10.75 - 19.00% | ₹50 L | ₹6,89,751 | ₹13,79,503 | Up to 2.50% of loan amount |
| Union Bank | 10.80 - 14.50% | ₹15 L | ₹7,19,885 | ₹14,39,771 | 1% of loan amount + GST |
| Bank of India | 10.85 - 14.85% | ₹15 L | ₹7,19,364 | ₹14,38,729 | 1.50% of loan amount + GST |
| Kotak Mahindra Bank | 10.99 - 24.00% | ₹40 L | ₹6,87,359 | ₹13,74,718 | Up to 2.50% |
| Tata Capital | 10.99 - 24.00% | ₹35 L | ₹7,63,732 | ₹15,27,465 | Up to 3% |
| Bandhan Bank | 11.00 - 18.00% | ₹20 L | ₹6,87,260 | ₹13,74,519 | Up to 3% |
| South Indian Bank | 11.00 - 16.00% | ₹15 L | ₹6,87,260 | ₹13,74,519 | 2% of loan amount + GST |
| Bajaj Finserv | 11.00 - 30.00% | ₹35 L | ₹7,63,622 | ₹15,27,244 | Up to 3.50% |
| SBI | 11.15 - 14.30% | ₹20 L | ₹7,16,249 | ₹14,32,499 | 1.50% of loan amount + GST |
| Karur Vysya Bank | 11.50 - 17.00% | ₹15 L | ₹6,82,314 | ₹13,64,629 | 2% of loan amount + GST |
| L&T Finance | 12.00 - 28.00% | ₹25 L | ₹7,52,688 | ₹15,05,375 | Up to 4% |
| Hero FinCorp | 12.00 - 24.00% | ₹25 L | ₹7,52,688 | ₹15,05,375 | Up to 3% |
| Muthoot Finance | 14.00 - 24.00% | ₹5 L | ₹7,31,473 | ₹14,62,945 | 2% + GST |
| Piramal Finance | 14.00 - 26.00% | ₹10 L | ₹7,31,473 | ₹14,62,945 | Up to 4% |
| Mahindra Finance | 14.00 - 24.00% | ₹10 L | ₹7,31,473 | ₹14,62,945 | Up to 3% |
| Manappuram Finance | 22.00 - 28.00% | ₹5 L | ₹6,54,614 | ₹13,09,228 | 2.50% + GST |
Personal Loan eligibility is the maximum loan amount a bank will approve for you based on your income, existing obligations, credit score, age, and employment type. Banks use a metric called FOIR (Fixed Obligation to Income Ratio) to determine how much EMI you can afford.
Indian Bank currently offers the lowest personal loan interest rate starting from 10.3% p.a. in 2026. Rates vary based on your credit score and profile.
Eligibility is calculated using the FOIR method. Banks typically allow 45% of your gross monthly income for all EMI payments. After deducting existing EMIs, the remaining amount determines your maximum new EMI, which is then converted to the maximum loan amount using the interest rate and tenure.
Common documents include PAN Card, Aadhaar Card, Salary Slips (last 3 months), Bank Statements (last 6 months), and more. Exact requirements vary by bank and your employment type.
You can increase your eligibility by: clearing existing loans, adding a co-applicant, improving your credit score to 750+, choosing a longer tenure, and showing higher income with proper documentation.