QHow Is My Loan Eligibility Determined?
ALoan eligibility depends upon various factors. The main factor is your ability to repay. The bank would like that the instalment you pay should not exceed more than 30 to 40% of your net salary. Apart from that your profile in terms of residence and the place of your work also matter. You should be in the managerial cadre and residing in a location approved by the bank. Sometimes if you reside in a chawl or at places termed negative by the bank, your loan approval becomes very difficult.