Loan Eligibility Calculator

Know the maximum loan amount you are eligible for based on your income, existing obligations, and desired tenure.

You are Eligible for
₹30,05,530
Monthly EMI (Max Capacity) ₹27,500
FOIR Applied 50%
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Income Allocation

Max EMI
Other Expenses
Existing EMIs

How is Loan Eligibility Calculated?

Banks use a metric called **FOIR (Fixed Obligation to Income Ratio)** to determine your loan eligibility. Most banks allow up to 50% of your net monthly income to be used towards total EMIs (including existing loans).

Factors Influencing Eligibility

  1. Monthly Income: The higher your income, the higher the loan amount you can service.
  2. Existing Obligations: Any current car loan, personal loan, or credit card EMIs reduce your borrowing capacity for a new loan.
  3. Credit Score: A higher credit score (750+) can get you better interest rates and higher loan-to-value (LTV) ratios.
  4. Age: Younger applicants with more years left until retirement can get longer tenures, which increases eligibility.
  5. Property Value (for Home Loans): The loan amount is usually capped at 80% to 90% of the property's market value.

Example:

If your monthly income is ₹75,000 and you already pay an EMI of ₹10,000, your available EMI capacity (at 50% FOIR) is ₹27,500. For a 20-year tenure at 9.5% interest, this translates to a ₹30 Lakh loan.

FAQs

Can I increase my loan eligibility?

Yes, you can increase it by adding a co-applicant (spouse or family member) to combine incomes, closing existing small loans, or choosing a longer tenure.