How Is your Insta EMI Card limit decided?

Factors include credit score, regular income, repayment history and more
How Is your Insta EMI Card limit decided?
2 min read
28 Sept 2022

Have you ever wondered how your bank or lender decides how much limit to give you on your card? We have tried to explain our world to you in a simple manner and explain a few things you will need to keep an eye on if you want to get a bigger Insta EMI Card limit.

Demographic details

When figuring out if you can get the Insta EMI Card limit and how much you can get, you will need to share some personal information.

  1. Age: Insta EMI Card is issued to our existing customers who have relationship with us and are between the age of 21 years and 65 years.
     
  2. Regular source of income: As a matter of fact, the more your regular income, the higher your Insta EMI Card limit. This comes with a catch, though. If you already have a few loans running, you may be assigned a lower limit until you pay one of your existing loans completely.
     
  3. City: Your Insta EMI Card limit could change based on the city you live in. The reason for this is that in most cases, the income in larger cities is more than that in small towns.
     
  4. Credit score: Your credit score is the single-most important factor for us. Your credit score is maintained by multiple institutions called credit bureaus (TransUnion CIBIL, Experian, etc.), who keep a track of all your loans and cards as well as the repayment history. A higher credit score not only improves the probability of getting the card but also a higher sanctioned limit. We have a CIBIL score threshold of 700 or higher for our applicants. The reason we have kept this relatively higher is to ensure that we offer higher loan amounts.
     
  5. Repayment history: Paying your EMIs on time is a good habit and shows that you are good with money. When you make your EMI payments on time, your credit score goes up. When you miss a monthly payment, your credit score goes down. Because of this, Har time, EMI on time.

On our website, we have a few helpful tools that you can use to find out if you can get the Insta EMI Card limit, check your credit score, find out what the minimum salary is for your city.

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