| 1. ITR/ Income/ Salary or
form 16 Basis |
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This method is called income method; 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
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| 2.EMI Equiliser or SIP or
Track basis also called Surrogate |
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The eligibility is calculated on the he Basis Of Running
EMI’s, If EMI Paid Are >= 9 Or 50% Of The Total
Tenure. Any Businessman (Salaried
in few cases) Can Take A Loan Equal To Total Of All
EMI *1500, If EMI Paid Are >= 9 Or 50% Of The Total
Tenure in case of property loans such as home loan or
personal loan.
Applicable for businessman. Few
banks give for salaried also.
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If anybody holding a valid credit card of any private
or multinational bank, if it is more than one year old.
Any person can apply on this basis for a loan. The eligibility
is calculated on the basis of credit card limit and usage.
Applicable for businessman. Few banks give for salaried
also.
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The bankers also lends on the basis of banking of last
12 months. The eligibility is calculated equal to one
half of the average balance maintained in last one year.
The transaction in bank account should be six to seven
a month excluding interest or any charges debited or credited
by the bank.Applicable for businessman.
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| 5.LIP Liquid income proof
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Under LIP programme an officer visits the applicant business
place, see actual business activities. The bank representative
makes an independent P&L account. And thus a figure
is arrived that how much that person can repay.
Applicable for businessman.
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| 6. Income basis and Other
methods (Differences) |
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One can go for any amount subject to product limits if
applying on income basis. Non
Income Basis Personal Loan can be applied to maximum
of Rs. 50,00,000.00 lacs.
To know more about loan eligibility
(loan amount) or to know your loan eligibility for Home
Loan, Personal Loan, Property Loan or Business Loan
by seven different methods from five different banks
you can mail us at or contact by telephone.
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You are Eligible for a Home
loan if you fulfill following Criteria :
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a. You must be at least 23 years of age when
the loan is sanctioned for salaried employees/Professional
& Self Employed Persons/Businessman .
b.
The repayment should be complete before attaining the
age of 65.
c. Other cases can be
taken up as special case and subject to approval of higher
authorities of the bank.
d. The
loan applications in which point no. i and ii are not
satisfied a guarantor is taken as additional co applicant
satisfying the criteria.
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a. Net Income of the concern should be greater
than Rs. 100,000 P.A for salaried employees/Professional
& Self Employed Persons/Businessman.
b.
Maximum of two persons income of the partners/directors
holding a minimum of 25% stake each can be clubbed to
the income of the concern.
c. It
can be Increased/ Enhanced By Clubbing Income Of Maximum
Three Persons Which Can Be
Family Members In Tree/Chain Or
Co Partner In Business Or
Co Partner In Property
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a. The business should have good future and growth
prospects for the businessman.
b. Stability
c. Business should be in continuous
profits for the last three years.
d. You
can include your spouse/parents/children as co-applicant
to maximum of three applicants.
e.
Permanent salaried employees/Professional & Self Employed
Persons/Businessman, having regular income to liquidate
loan.
f. Either Residence or Office
should be owned.
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