Loan Eligibility Calculator
Estimate the maximum loan you could be eligible for based on your income, existing EMIs, interest rate and tenure.
What is the Loan Eligibility Calculator?
Lenders limit how much of your income can go towards EMIs using the Fixed Obligation to Income Ratio (FOIR). The loan you can get is the amount whose EMI fits within that limit.
How does it work?
Available EMI = net monthly income × FOIR − existing EMIs. The calculator then finds the loan amount whose EMI equals that figure at your rate and tenure.
Formula
Max EMI = Income × FOIR − Existing EMIs
Loan = EMI × (1 − (1 + r)^−n) ÷ r
Example
With ₹1,00,000 income, no existing EMIs and 50% FOIR, the maximum EMI is ₹50,000. At 8.5% for 20 years, that supports a loan of about ₹57.6 lakh.
Frequently asked questions
What FOIR do banks use?
Typically 40–50% for lower incomes and up to 60–65% for higher incomes. It varies by lender and your profile.
How can I improve eligibility?
Close small loans, add a co-applicant with income, choose a longer tenure or improve your credit score to get better rates.
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