Loans
Loan Eligibility Calculator
Find out the maximum loan you can get from a bank, based on your income, existing EMIs, and FOIR rules. Useful before applying — avoid surprise rejections by knowing your eligibility upfront.
Inputs
FOIR = Fixed Obligation to Income Ratio. Banks usually cap at 50% (40% for premium home loans). Higher salaries get higher FOIR.
Eligibility
Banks consider
- • FOIR: Total EMIs ≤ 40–50% of net monthly income
- • Credit score: 750+ for best rates, 700+ for approval
- • Job stability: 2+ years current employer (or 5+ if SME)
- • Age + tenure: Loan must end before retirement age
- • Down payment: 10–25% of property value (home loan specific)
- • Co-applicant income: Adding spouse's income can boost eligibility 1.8–2×
This is a max eligibility calc. Just because you can borrow this much doesn't mean you should — leave room for emergencies and lifestyle.
FAQs
How is loan eligibility calculated?
Banks use FOIR (Fixed Obligation to Income Ratio). Total EMIs (existing + new) ≤ 40–50% of net monthly income. We back-calculate the maximum loan amount that fits within this rule, given your income, existing EMIs, rate and tenure.
What is FOIR exactly?
FOIR = (Total monthly EMI obligations) / (Net monthly income). Most banks cap at 50% for general loans, 40% for high-value home loans. People earning ₹1L+/month often get 55–60% FOIR.
Can co-applicant income increase eligibility?
Yes — adding a working spouse or earning parent typically boosts eligibility 1.8–2×. Both incomes are clubbed for FOIR. Both also become joint borrowers (co-liable for repayment).
Why is my actual loan offer lower than this calculation?
This is theoretical max. Banks also factor: credit score (below 700 → cuts eligibility), job type (variable salary → discount), property value (LTV cap), age (must repay before retirement), industry stability.