Loan Eligibility Calculator
Check how much home loan or personal loan you are eligible for based on your salary and expenses.
About this calculator
Lenders decide how much to lend using your income and your existing obligations. The Loan Eligibility Calculator reproduces that logic: it applies a FOIR limit (the share of income allowed for total EMIs), subtracts your current EMIs and converts what is left into the loan amount that EMI could repay at your chosen rate and tenure.
Choose between a conservative 40%, a standard 50% or an aggressive 60% FOIR. Banks typically use a higher percentage for higher incomes and stronger credit profiles. The output is an estimate of eligibility, not an approval, but it lets you shop for properties or vehicles in the right range and see how paying off a small loan changes the figure.
How to use it
- Enter your Net Monthly Income (take-home).
- Enter Existing EMIs per Month, or 0 if you have none.
- Enter the Annual Interest Rate and the Loan Tenure in years.
- Choose the FOIR that matches your lender: 40%, 50% or 60%.
- Press Calculate Eligibility and read the eligible loan amount.
Tips and common mistakes
- Clear small loans and credit-card balances before applying. Each ₹1,000 of EMI removed raises eligibility by roughly ₹1.15 lakh at this rate and tenure.
- Adding a co-applicant with income can raise the eligible amount significantly.
- A good credit score can help you get a better rate and a higher FOIR.
- Include only stable income. Lenders discount variable pay and bonuses.
Frequently asked questions
What is FOIR?
Fixed Obligations to Income Ratio. It is the share of your income that lenders allow to go toward all fixed monthly debt payments.
Which FOIR will my lender use?
It varies by lender and profile, commonly 40% to 60%. Higher incomes and strong credit usually get a higher ratio.
Is the result a guaranteed loan amount?
No. It is an estimate. The lender also reviews credit history, employment, the property or vehicle and other factors.
How can I increase my eligibility?
Pay off existing loans, add a co-applicant, choose a longer tenure or show additional stable income.
Does tenure change eligibility?
Yes. A longer tenure supports a larger loan for the same EMI, though you pay more interest overall.
What if I have no existing EMIs?
Enter zero. The whole FOIR share of your income is available for the new loan.