Loan Eligibility Calculator
Find out the maximum loan you can borrow based on your income and existing EMIs.
- Max affordable EMI
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- Total interest
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- Total repayment
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How much loan can you actually get?
Lenders cap your total EMIs at a share of your income called FOIR (Fixed Obligation to Income Ratio), typically 40–55%. Your affordable EMI is that share of income minus the EMIs you already pay. This calculator turns that affordable EMI into the maximum loan you can be sanctioned at a given rate and tenure.
How eligibility is calculated
Maximum EMI = income × FOIR% − existing EMIs. The eligible loan is then
EMI × ((1 + i)n − 1) ÷ (i × (1 + i)n), where i is the
monthly interest rate (annual ÷ 12 ÷ 100) and n is the tenure in months. A lower FOIR or
higher existing EMIs reduces how much you can borrow.
How to use the Loan Eligibility Calculator
- Enter your monthly income. Type your stable net monthly income.
- Add existing EMIs. Enter the total of any loan or card EMIs you already pay each month.
- Set rate, tenure and FOIR. Fill in the annual rate, tenure in years and the FOIR your lender uses (default 50%).
- Read your eligibility. See the maximum EMI you can afford and the loan amount it supports.
Frequently asked questions
What is FOIR?
FOIR is the maximum share of your income a lender lets go towards all EMIs combined. If your FOIR is 50% and you earn ₹80,000, your total EMIs cannot exceed ₹40,000.
Why do existing EMIs reduce my eligibility?
Existing EMIs already use part of your FOIR limit. Only the remaining room is available for the new loan, so more current EMIs means a smaller eligible amount.
Is this the exact amount the bank will sanction?
It is a close estimate. Banks also weigh your credit score, job stability, property value and internal policy, so the final sanction can differ.
How can I increase my loan eligibility?
Clear existing loans, choose a longer tenure, add a co-applicant's income, or improve your credit score before applying.