Loan eligibility is determined based on several factors, including: Credit Score: A higher score indicates better creditworthiness, making it easier to qualify for loans with favorable terms. Income: Lenders assess your monthly income to ensure you can afford the loan repayments. Employment Status: Stable employment or business income enhances eligibility. Age: Typically, borrowers must be between 21 and 65 years old to qualify. Debt-to-Income Ratio: Lenders compare your debt obligations to your income to ensure you’re not over-leveraged. Collateral: For secured loans, the value of the asset pledged (e.g., property or vehicle) is considered. Loan Amount & Purpose: The loan amount requested and its intended use can influence eligibility. Repayment History: A history of timely payments on existing loans boosts your chances of approval. These factors combined help lenders assess your ability to repay and the level of risk involved.