9.2 Eligibility Calculator

This topic provides systematic instructions to check user's eligibility for a loan to apply.

The eligibility calculator enables users to understand the maximum amount of loan that they are eligible for, considering their average monthly income and expenditure. The calculator computes the eligible loan amount and average installment per month.

Loan Eligibility Amount calculation is performed by the application and results are displayed.

The eligibility is calculated on the basis of:

  • The user’s average Monthly Income
  • The user’s average Monthly Expenses
  • Tenure of the loan
  • Estimated rate of interest

To check the loan eligibility:

  1. Perform one of the following navigation to access the Loan Eligibility Calculator screen:
    • From the Oracle Banking Digital Experience Homepage, click Calculators for all your Money Goals, then click Loan Eligibility Calculator.
    • From the Dashboard, click Menu, and click Accounts, and then click Corporate Loans. Under Corporate Loans, click Overview, and then click Loan Eligibility Calculator.
    The Loan Eligibility Calculator screen displays.

    Figure 9-2 Eligibility Calculator


    Description of Figure 9-2 follows
    Description of "Figure 9-2 Eligibility Calculator"

    For more information on fields, refer to the field description table below:

    Table 9-2 Eligibility Calculator - Field Description

    Field Name Description
    Gross Income (Monthly) Specify average monthly income.
    Total Expenses (Monthly) Specify the average amount spent per month towards expenses.
    Loan Tenure (In Years) Specify the desired loan tenure.
    Interest (In %) Specify the desired interest rate of the loan in term of percentage.

    The system calculates and displays the eligible loan amount and the average installment amount based on values entered.

Parent topic: Loan Calculators