The FOIR Rule: Why a Rs 15,000 Salary Clears Eligibility at One Lender and Fails at Another
Why can a borrower earning Rs 15,000 qualify with one lender but get rejected by another? The FOIR rule helps explain how existing financial obligations, income and lender policies affect loan eligibility. A ₹15,000 monthly salary is enough for a personal loan with some lenders and not enough with others. The salary figure has not … Read more