Lenders evaluate your Fixed Income-to-Obligation Ratio (FOIR). Usually, lenders restrict all EMIs to less than 50% of your net monthly income to prevent default risks.
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/Loan Eligibility
Loan Eligibility
Estimate the maximum loan amount you qualify for based on your monthly income and obligations.
Loan Eligibility
Calculation Summary
Eligible Loan Principal₹0
Max Allowed EMI₹0
Gross Income₹80,000
Frequently Asked Questions (FAQ)
How do banks calculate my loan eligibility?+
Does my existing EMI reduce how much I can borrow?+
Can I increase my loan eligibility?+
What Is the Loan Eligibility Calculator?
Estimate the maximum loan amount you qualify for based on your monthly income, existing loan commitments, and chosen tenure. Ensure a smooth loan approval process.
How to Use This Calculator
- Step 1: Enter your Net Monthly Income
- Step 2: Enter your Monthly Expenses
- Step 3: Enter your Existing Monthly EMIs
- Step 4: Enter your Annual Interest/Return Rate (%)
- Step 5: Enter your Tenure (Years)
- Step 6: Enter your FOIR Limit (%)
- Step 7: Review the instant results and the visual breakdown chart below
- Step 8: Adjust any value to compare scenarios, and download the full report as a PDF
Example Calculation: Typical Inputs for the Loan Eligibility Calculator
This table shows a realistic example calculation based on standard parameters. Enter your custom numbers in the sliders above to compare results.
| Parameter | Sample Value |
|---|---|
| Net Monthly Income | ₹80,000 |
| Monthly Expenses | ₹15,000 |
| Existing Monthly EMIs | ₹5,000 |
| Annual Interest/Return Rate (%) | 8.5% |
| Tenure (Years) | 20 |
| FOIR Limit (%) | 50% |
Understanding Loan Eligibility & FOIR
Mathematical Formula:
Eligible EMI = (Income * FOIR%) - Existing EMIs