Loan Eligibility Calculator
Find the maximum loan amount you qualify for based on your salary and existing EMIs — using the same FOIR method banks use.
🏠 Home Loan
🚗 Car Loan
💳 Personal Loan
Maximum Eligible Loan Amount
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Based on max allowed EMI of ₹—
FOIR Breakdown
Existing EMIs
New Loan EMI
Remaining Income
Bank-wise Estimated Eligibility
| Bank / Lender | Typical Rate | FOIR | Est. Max Loan | EMI |
|---|
* Indicative only. Actual eligibility depends on credit score, employment type, age, and bank policies.
How Loan Eligibility is Calculated
Banks use the FOIR (Fixed Obligation to Income Ratio) method. It ensures your total monthly EMI obligations (existing + new loan) stay within an affordable percentage of your gross income.
Formula
Max Allowed EMI = Gross Income × FOIR% − Existing EMIs
Max Loan = Max EMI × ((1+r)ⁿ − 1) / (r × (1+r)ⁿ)
Tips to Increase Eligibility
- Close existing loans to reduce FOIR usage
- Apply with a co-applicant (spouse/parent) to combine income
- Maintain CIBIL score above 750 for best rates and higher FOIR allowance
- Opt for longer tenure — reduces monthly EMI requirement, increases eligible amount
- Choose a PSU bank if income is moderate — they often have more flexible FOIR norms