Loan Eligibility Calculator
Check how much loan you can get based on your income and existing obligations. Banks typically allow EMI up to 50-60% of your net income.
Results
Eligible Loan Amount
₹0
Maximum EMI Affordable
₹0
FOIR (Fixed Obligation to Income Ratio)
0.00%
How to Use Loan Eligibility Calculator
- 1
Enter your monthly net income
- 2
Input any existing EMI obligations
- 3
Specify expected interest rate and tenure
- 4
View your maximum eligible loan amount
Loan Eligibility Calculator Formula
Max EMI = (Monthly Income × 50%) - Existing EMI; Eligible Loan = Max EMI × [(1+R)^N - 1] / [R × (1+R)^N]Example Calculation
Input Values
Monthly Income
₹1,00,000
Existing EMI
₹10,000
Interest Rate (Annual)
8.5 %
Loan Tenure
240 months
Results
Eligible Loan Amount
₹46,13,000
Maximum EMI Affordable
₹40,000
FOIR (Fixed Obligation to Income Ratio)
50%
Frequently Asked Questions
What is FOIR?
FOIR (Fixed Obligation to Income Ratio) is the percentage of your income going towards loan EMIs. Banks prefer FOIR below 50-60%.
What factors affect loan eligibility?
Income, credit score, existing debts, employment stability, age, and the property value (for home loans) affect eligibility.
Can I improve my loan eligibility?
Pay off existing debts, improve credit score, add a co-applicant, or opt for a longer tenure to improve eligibility.