Loan Eligibility Calculator
Find the maximum loan you can get based on your income
Maximum Loan Eligibility
₹0
Total Interest Payable
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Your Monthly Income Split
Max EMI (FOIR limit)₹0
Less: existing EMIs₹0
Available for new EMI₹0
Total repayment (principal + interest)₹0
How Loan Eligibility is Decided
Lenders decide how much loan you qualify for mainly based on your repayment capacity. The key metric is FOIR (Fixed Obligation to Income Ratio) — the share of your monthly income that can go toward all EMIs. Most banks cap total EMIs at 40–55% of your net monthly income.
The Calculation
Max EMI = (Income × FOIR%) − Existing EMIs
Max Loan = EMI × [ (1+r)^n − 1 ] / [ r × (1+r)^n ]
Where:
r = Monthly Rate = (Annual Rate / 100) / 12
n = Tenure in Months = Years × 12
A higher income, longer tenure, lower interest rate and fewer existing EMIs all increase how much you can borrow.
Tips to Increase Your Eligibility
Close small loans: Paying off existing EMIs frees up your FOIR headroom.
Add a co-applicant: Combining incomes (e.g. spouse) raises the eligible amount.
Choose a longer tenure: Lower EMIs mean higher eligibility — though you pay more total interest.
Frequently Asked Questions
What is a good FOIR?
Most lenders keep FOIR between 40% and 55%. A lower FOIR (fewer existing obligations) improves your loan eligibility and approval chances. Higher-income applicants are sometimes allowed a higher FOIR.
Is this the exact amount the bank will approve?
No, it's a close estimate. Actual sanction also depends on your credit score, employment stability, age, property value (for home loans, usually 75–90% of value), and the bank's internal policy.
Does my credit score affect eligibility?
Yes. A CIBIL score above 750 improves both your eligibility and the interest rate offered. A low score can reduce your sanctioned amount or lead to rejection.
Should I borrow the maximum I'm eligible for?
Not necessarily. Just because you qualify for a large loan doesn't mean you should take it. Keep your EMIs comfortable so you can handle emergencies and still save and invest.