How To Calculate Loan Installment to Income Ratio (IIR) ?
by Installment to Income Ratio is used to calculate the loan eligibility of the customer. This IIR denotes the portion of the customer’s monthly installment on the Home Loan or any other loan taken. As a rule of thumb, the banks use 33.33 % to 40 % ratio. For Example: IIR is 40%, Gross Income is Rs. 60,000/- […]