1. What is the IIFL Capital Credit Card Limit Formula?

The IIFL Capital Credit Card limit is calculated based on your capital income and a proprietary IIFL factor. This helps determine your creditworthiness and spending limit on the card.

2. How Does the Calculator Work?

The calculator uses the IIFL Capital Credit Card formula:

Where:

• \( Capital Income \) — Your annual income from capital sources (INR/year)
• \( IIFL Factor \) — A proprietary multiplier determined by IIFL (dimensionless)

Explanation: The equation multiplies your capital income by a factor determined by IIFL based on their internal risk assessment models.

3. Importance of Credit Limit Calculation

Details: Knowing your potential credit limit helps in financial planning and understanding your purchasing power with the IIFL Capital Credit Card.

4. Using the Calculator

Tips: Enter your annual capital income in INR and the IIFL factor provided to you. Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What counts as capital income?
A: Capital income includes dividends, interest, capital gains, rental income, and other income from investments.

Q2: How is the IIFL factor determined?
A: The IIFL factor is based on your credit profile, relationship with IIFL, and other risk factors assessed by the bank.

Q3: Is this the exact limit I'll get?
A: This is an estimate. The actual limit may vary based on IIFL's final assessment of your application.

Q4: Can I increase my credit limit later?
A: Yes, IIFL may increase your limit over time based on usage patterns and creditworthiness.

Q5: Does this affect my credit score?
A: The calculation itself doesn't, but applying for the card will result in a hard inquiry on your credit report.