Loan Eligibility Calculator

Lenders work backwards from your income: they cap what all your EMIs can add up to, subtract what you already pay, and lend whatever the remaining EMI can service. This calculator runs that same arithmetic so you know the ballpark before you apply.

Loan type

Sets a typical rate and tenure. Replace both with the figures your lender quotes.

Monthly income (take-home)

₹

Other monthly income

₹

Rent, a co-applicant's salary or other income the lender will count.

Existing monthly EMIs

₹

Interest rate (per year)

Tenure

FOIR assumption

Share of income a lender allows towards all EMIs together.

Estimated eligible loan

₹46,09,234

over 20 years

EMI it implies

₹40,000

at 50% FOIR

Total interest

₹49,90,766

Total repayment

₹96,00,000

How this figure is built

Total monthly income: ₹1,00,000
EMI budget at 50% FOIR: ₹50,000
Less existing EMIs: - ₹10,000
EMI available for this loan: ₹40,000
Loan that EMI services at 8.5%: ₹46,09,234

If the lender uses a different FOIR

Eligible loan amount at different FOIR assumptions
FOIR	EMI available	Eligible loan
40%	₹30,000	₹34,56,925
50%	₹40,000	₹46,09,234
60%	₹50,000	₹57,61,542

Estimated eligible loan

₹46,09,234

20 years

An estimate based on income and existing EMIs only. It is not a loan offer, a pre-approval or financial advice.

What it is:: An estimate of the loan amount a lender might sanction on your income.
What it calculates:: The EMI your income can support after existing obligations, and the loan that EMI translates into.

Assumptions

Based on FOIR alone; real eligibility also weighs credit score, employment and the asset.
Lender FOIR limits vary, commonly between 40% and 60%.
It is an estimate for planning, not an offer or a pre-approval.

How it works

The starting point is FOIR, the fixed obligations to income ratio: the share of monthly income a lender will let all your EMIs occupy together. Most lenders sit between 40% and 60%, and apply a lower figure at lower incomes.

Whatever is left after your existing EMIs is the instalment available for the new loan. Running the EMI formula backwards at your expected rate and tenure turns that instalment into a loan amount.

This is an income test only. A real sanction also depends on your credit history, how long you have been employed, your age at the end of the tenure, and the value of whatever you are buying. Treat the output as a planning figure, not an approval.

Formula

Eligible EMI = (income x FOIR%) - existing EMIs; Loan = EMI x ((1+r)^n - 1) / (r x (1+r)^n)

FOIR%: = share of income allowed towards all EMIs
r: = monthly interest rate = annual rate / 12 / 100
n: = tenure in months

Co-applicant income is added to your own before the FOIR is applied, which is why joint applications qualify for more.

Example calculation

₹1,20,000 income, ₹15,000 of existing EMIs, a 20-year home loan at 8.5%

EMI budget at 50% FOIR: ₹60,000
Less existing EMIs: - ₹15,000
EMI available: ₹45,000
Estimated eligible loan: ₹51,85,388
Total interest over 20 years: ₹56,14,612

Frequently asked questions

Does this mean I will get this loan?

No. It estimates what your income could support. Lenders also check your credit score, employment stability, age and the asset being financed, and each has its own FOIR policy.

Should I use gross or take-home income?

Take-home. Most lenders assess net monthly income after tax and statutory deductions.

Does adding a co-applicant increase eligibility?

Usually yes. A co-applicant's income is added before the FOIR cap is applied, so the EMI budget grows. Their existing EMIs are added too.

Why does a longer tenure increase the loan I qualify for?

Because the same EMI services a larger principal when spread over more months. It also increases the total interest substantially, so check that figure before stretching the tenure.

What FOIR do lenders actually use?

It varies by lender, loan type and income band, commonly 40% to 60%. The comparison table shows what each assumption does to the answer.