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Eligibility on Income only - Self Employed Non Professional

This calculation is used by banks to determine loan eligibility of Self Employed Non Professionals on basis of income.

(fill the details as per profit & loss statement)

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years


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  • Bankers calculate eligibility on the basis of financial statements from Profit and Loss Account and Balance Sheet for latest two years.
  • Net Profit after Tax (NPAT) + Depreciation + Interest paid (reflected in Profit and Loss Account) is considered for calculation to reach at the amount of Cash Flows after Tax.
  • The above amounts are considered for latest two years and average of both amounts is considered.
  • Further, existing EMI is subtracted from the average cash flows.
  • The Net Average Cash Flows are compared with Fixed Obligation to Income Ratio, commonly called as FOIR.
  • The above calculator shows the loan eligibility based on income and EMI on eligible loan amount.