Loan Eligibility Calculator
Estimate an indicative maximum loan amount from your monthly income, existing EMIs, a FOIR (fixed obligation to income) assumption, plus tenure and interest rate—similar to eligibility screens used for home and personal loans in India, in one neutral planning tool.
Monthly income
Use the monthly figure you expect the lender to credit—often net salary for employees or stable declared income for self-employed applicants.
Existing obligations
Sum of loan EMIs already reported or visible; you can add rent here for a stricter personal stress test if you wish.
FOIR assumption
Many retail lenders use roughly 40–60% FOIR bands depending on income and product. Adjust to match what you have been quoted or to compare conservative versus aggressive scenarios.
New loan terms (planning)
Longer tenure raises indicative eligibility for the same EMI budget; rate should reflect the product you have in mind (home, lap, personal, etc.).
Indicative max loan amount
₹32,26,464
EMI at that loan (same rate & tenure)
₹28,000
Monthly income considered
₹80,000
FOIR obligation cap
₹40,000
FOIR bucket: existing vs new loan EMI
Results are indicative planning estimates only. Real sanction depends on credit bureau history, employer or business profile, property valuation and LTV for secured loans, regulatory caps, and each lender's underwriting—not captured in full here.
Loan eligibility calculator for Indian borrowers
A loan eligibility calculator helps you translate take-home pay, co-applicant income, and existing EMIs into an approximate maximum loan amount before you shortlist properties or compare offers. Banks and NBFCs also weigh credit score, job or business stability, and—for home loans— property value and LTV. This page focuses on the income and FOIR side so you can sanity-check repayment capacity for both housing and personalterm loans in one place—before you rely on a bank's own eligibility screen.
How we estimate eligible loan amount
First we compute total monthly income (primary plus co-applicant). We multiply by your chosen FOIR percentage to get a ceiling on total fixed obligations including the new loan. We subtract other EMIs you entered; the remainder is treated as the maximum EMI for the new borrowing. Using standard reducing-balance math, we convert that EMI into loan principal for your annual interest rate and tenure in months. That mirrors common “income → FOIR → EMI → loan amount” flows used in retail underwriting, without tying results to any single institution.
What else affects home and personal loan eligibility
- Age and tenure: maximum loan term often runs up to retirement or a policy age ceiling; very long tenures may not be available for older applicants.
- Credit history: delays, high utilisation, or recent enquiries can change offered amount or rate even when FOIR looks comfortable.
- Secured loans: eligible amount cannot exceed what LTV norms allow on the property or collateral, regardless of income.
- Income proof: salaried borrowers typically show salary slips and bank credits; self-employed applicants may use ITR, GST, or audited financials depending on the lender.
How to improve loan eligibility
Paying down cards and loans to lower existing EMIs, adding a working co-applicant whose income lenders accept, documenting bonus or rental income where allowed, and choosing a realistic tenure within product rules all help. Improving credit score and avoiding new unsecured enquiries shortly before a home loan application also supports stronger offers.
Frequently asked questions
What is loan eligibility?
Loan eligibility is how much a lender may lend you based on repayment capacity, income, existing obligations, credit profile, age, and policy. This calculator focuses on income and obligations using a FOIR-style ceiling to show an indicative maximum loan for a given rate and tenure—not a sanction or approval.
How does this calculator estimate maximum loan amount?
It adds primary and co-applicant monthly income, applies your chosen FOIR percentage to get a monthly obligation cap, subtracts other EMIs you enter, and treats the remainder as the maximum EMI for the new loan. It converts that EMI into loan principal using the annuity present-value formula for your interest rate and tenure in months.
What is FOIR (Fixed Obligation to Income Ratio)?
FOIR is the share of monthly income lenders allow to go toward loan EMIs and certain fixed obligations. Typical bands often fall roughly between 40% and 60% depending on income slab, product, and internal policy. A higher FOIR assumption increases estimated eligibility in this tool; actual FOIR rules vary by bank and NBFC.
Should I enter gross or net monthly income?
Use the monthly income figure your lender is likely to use for assessment—often net take-home for salaried borrowers after statutory deductions, or stable monthly business income for self-employed applicants. Being consistent with payslips or audited figures you will submit improves how useful the estimate is.
What should I include in other monthly EMIs?
Include EMIs for loans the lender will see on your credit report or bank statements: home, personal, vehicle, education, and similar term loans. Some lenders also factor rent or lease commitments; if you want to stress-test conservatively, you can add an approximate monthly rent into this field as a planning shortcut.
Why does longer tenure increase eligible loan amount?
For the same EMI budget, a longer tenure spreads repayment over more months, so the present value of that EMI stream—the loan principal—rises. That is why eligibility calculators often show higher amounts at longer tenures, subject to age and product maximum term limits at the lender.
Will the bank approve exactly this amount?
No. Real approvals use credit score, employment stability, property valuation for secured loans, LTV caps, employer category, co-applicant profile, and internal scorecards. This page is a planning aid only; always rely on official in-principle or sanction letters from your lender.
How can I improve loan eligibility?
Common levers include adding an earning co-applicant, reducing existing EMIs or card balances, choosing a longer eligible tenure where policy allows, documenting additional stable income, improving credit behaviour, and picking a loan amount that keeps FOIR comfortable under lender norms.
Does a co-applicant increase how much I can borrow?
Often yes, when the co-applicant has stable income counted by the lender. This calculator adds co-applicant monthly income to yours before applying FOIR and subtracting obligations, which raises the monthly EMI headroom and therefore the indicative maximum loan.
Is this calculator only for home loans?
The same income-and-FOIR logic is widely used for home loans, personal loans, and similar term products where EMI affordability matters. Secured loans may also hit limits from collateral value or LTV, which this income-only model does not capture.