Loan Eligibility Calculator
Find the maximum loan amount you qualify for based on your income, existing EMIs and lender's FOIR criteria.
FOIR (Fixed Obligation to Income Ratio) is the max share of income lenders allow for all EMIs combined. Typically 40–55%.
Before applying for any loan, knowing your maximum eligible amount saves you from rejections that harm your credit score. Banks and NBFCs use FOIR (Fixed Obligation to Income Ratio) — the percentage of your monthly income that can go towards EMIs — to determine how much they will lend you. Typically, lenders allow 40–55% FOIR. This calculator uses your income and existing EMIs to show the maximum additional loan you can borrow and the maximum loan amount at any given rate and tenure.
📋 How to Use This Calculator
Enter your net monthly take-home salary (post-tax income). Enter all existing monthly EMI obligations — home loan, car loan, personal loans, credit card minimums. Set the FOIR percentage your target lender uses (typically 40–55% for salaried employees; check with the lender). Enter the expected interest rate and desired tenure for the new loan. The calculator shows the maximum eligible EMI for the new loan and the corresponding maximum loan amount. If existing EMIs already exceed the FOIR cap, you will see a warning.
💡 Key Facts & Information
FOIR is the key metric Indian lenders use: Available EMI = (Income × FOIR%) − Existing EMIs. The maximum loan P is then derived from the reverse EMI formula: P = E × [(1+r)^n − 1] / [r × (1+r)^n]. Lenders typically use gross income (before tax) for FOIR — check with your bank. Public sector banks often use 40–50% FOIR; private banks and NBFCs may go up to 55% for high-income borrowers. Self-employed individuals typically get 40–45% FOIR. A CIBIL score below 700 may reduce the eligible amount even if income is sufficient.