What is marriage loan eligibility calculator?
Marriage loan eligibility calculator gives you an estimate of the loan amount you can procure to fund your wedding. The calculator requires you to enter basic details such as your age, net salary, name, city PAN card, current EMI information and others. On the basis of the information you submit, you will get an estimate of the amount of wedding loan you will be eligible to get.
Factors that are considered in calculating marriage loan eligibility
Marriage loan eligibility calculator takes into account the below factors when calculating marriage loan eligibility.
- Monthly Income
- Monthly EMI and others
Additionally, lenders also check your credit score and past repayment history to determine the amount you are eligible to receive.
Marriage Loan eligibility criteria
In case if you’re looking to avail a marriage loan, then you must comply with the below eligibility criteria.
- You should have a good repayment record
- You should have a good credit score
- Current outstanding loan amount should be a minimum of Rs. 50,000 to initiate the transfer
Documents required for marriage loan eligibility calculator
Lenders will generally require you to submit the below set of documents, however, the requirement may vary from lender to lender.
- Identity proof: Voters ID, Aadhar card, driving license, ration card, PAN card and others
- Address proof: Driving license, Aadhar card, Ration card, passport and others
- Income proof: Salaried individuals will have to provide salary slip, bank statement and Form 16, whereas self-employed individuals will have to provide IT returns, balance sheet and other documents.