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Loan Eligibility Calculator

Calculate maximum loan eligibility based on income and EMIs.

Max: 30 years

Max eligible loan
₹46.09 L
Max EMI available
₹40,000/mo
Total interest payable
₹49.91 L
Total amount payable
₹96.00 L
FOIR analysis (Fixed Obligation to Income Ratio)
Max allowed FOIR for Home Loan50%
Max EMI (income × FOIR)₹40,000
Less: existing EMIs- ₹0
Available for new loan EMI₹40,000

Eligibility is based on FOIR (Fixed Obligation to Income Ratio) norms. Actual loan eligibility depends on credit score, employment type, property value, and individual bank policies.

Know your loan eligibility before you apply

Banks use the FOIR (Fixed Obligation to Income Ratio) method to determine how much loan you qualify for. This calculator uses the same formula to give you a realistic eligibility estimate across home, personal, car, and education loans — so you can plan before approaching a bank.

How FOIR works

Banks cap your total monthly EMI obligations at a percentage of your income. For example, with a 50% FOIR and ₹1 lakh income, your total EMIs (including the new loan) cannot exceed ₹50,000. If you already pay ₹10,000 in EMIs, your maximum new EMI is ₹40,000 — and the loan amount is back-calculated from that.

Frequently asked questions

What is FOIR in loan eligibility?
FOIR (Fixed Obligation to Income Ratio) is the percentage of your gross monthly income that banks allow to go towards all loan EMIs combined. Most banks use FOIR between 40–55% depending on the loan type. A higher income generally means a slightly more lenient FOIR.
How is maximum loan amount calculated?
Maximum EMI = Monthly Income × FOIR − Existing EMIs. Then the maximum loan principal is back-calculated from this EMI using the standard EMI formula: P = EMI × [(1+r)^n − 1] / [r × (1+r)^n], where r = monthly interest rate and n = loan tenure in months.
What FOIR does the calculator use?
Home loan uses 50% FOIR with 8.5% rate over 30 years. Personal loan uses 40% FOIR at 12% over 7 years. Car loan uses 45% FOIR at 9% over 7 years. Education loan uses 50% FOIR at 9.5% over 15 years. These reflect typical Indian bank norms.
Does a higher income increase eligibility proportionally?
Yes, loan eligibility is roughly proportional to income since the maximum EMI scales linearly with income. However, existing EMIs directly reduce the available EMI headroom, so reducing existing debt before applying for a new loan significantly improves eligibility.
Can I improve my loan eligibility?
Yes. Reduce existing loans and credit card dues to lower your existing EMIs, add a co-applicant (spouse or parent) to combine incomes, opt for a longer tenure to reduce the required EMI for the same loan amount, and improve your credit score above 750.

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