Jun 17
Checking loan eligibility triggers a hard enquiry that damages your CIBIL score — so the right method. Here is how to check safely in 2026.
The most expensive mistake Indian loan applicants make is submitting multiple applications simultaneously just to compare interest rates. This practice triggers a cascade of hard enquiries, signaling "credit desperation" to banks and lowering your credit score by 5–15 points per hit. This quick guide breaks down the critical difference between hard and soft enquiries, explains how to calculate your Fixed Obligation to Income Ratio (FOIR), and outlines a safe 5-step checklist to evaluate your loan eligibility across dozens of lenders without damaging your credit profile.
