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Loan Eligibility Calculator

Estimate how much you could borrow. Lenders cap the share of your income that can go towards EMIs — the FOIR. Enter your net monthly income, existing EMIs, the interest rate and tenure, and the calculator works out the EMI you can afford and the loan that EMI supports.

Last reviewed:

Take-home salary, or average monthly business income after tax.

Car, personal and other loan EMIs, plus credit-card minimums.

Each lender sets its own limit, often depending on income. Enter the lender's figure if you know it.

Estimated loan eligibility

₹55,57,248

₹55.57 lakh

EMI you could take on
₹50,000
All EMIs allowed at 50% of income
₹50,000
Total interest over the tenure
₹64,42,752
  • An indicative figure. Lenders also look at credit score, age, job stability, the property's value (for home loans) and their own loan-to-value limits.
  • A longer tenure raises eligibility but also total interest.

How to use the Loan Eligibility Calculator

  1. Enter your net (take-home) monthly income.
  2. Add the EMIs you already pay.
  3. Enter the interest rate and tenure you expect, and the lender's FOIR if you know it.

Formula

Formula

Available EMI = Income × FOIR − Existing EMIs

Loan = Available EMI × [1 − (1 + r)⁻ⁿ] ÷ r

How lenders work it out

  1. Maximum for all EMIs = net monthly income × FOIR.
  2. EMI available for the new loan = that maximum − your existing EMIs.
  3. Eligible loan = the amount that EMI repays over the tenure at the given rate.
Formula

Loan = EMI × [1 − (1 + r)⁻ⁿ] ÷ r

r = annual rate ÷ 12 ÷ 100; n = months

Worked examples

Net income ₹1,00,000 a month, 9% interest, FOIR 50%
Existing EMIsTenureEMI availableEligible loan
None20 years₹50,000₹55,57,248
₹15,00020 years₹35,000₹38,90,073
None30 years₹50,000₹62,14,093

Closing a ₹15,000 car-loan EMI raises eligibility by about ₹16.7 lakh in this example. Stretching from 20 to 30 years raises it by about ₹6.6 lakh — but nearly doubles the total interest.

Ways to improve eligibility

  • Prepay or close small loans and clear credit-card balances before applying.
  • Add a co-applicant with a steady income.
  • Choose a longer tenure (understanding the extra interest).
  • Keep a good credit score — it affects both approval and the rate offered.

Once you know the amount, check the EMI and total interest with the Business Loan EMI Calculator.

Worked example

₹1,00,000 income, no other EMIs, 9% for 20 years, FOIR 50%

  1. Available EMI = 1,00,000 × 50% = ₹50,000
  2. r = 0.0075, n = 240

Eligible loan ≈ ₹55,57,248

Important notes

  • Lenders also consider your credit score, age, employment, the property's value and their own loan-to-value limits; the offer can be lower than this estimate.

Frequently asked questions

What is FOIR?

Fixed Obligations to Income Ratio: the share of your monthly income a lender allows for all EMIs combined. Each lender sets its own limit, often depending on your income level.

Does a home loan's eligibility depend on the property value?

Yes. Lenders lend only a percentage of the property's value, so the loan is the lower of your income-based eligibility and that limit.

Is this an approval?

No. It's an estimate to help you plan. Only a lender can approve a loan after checking your documents and credit history.

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