About the Loan Eligibility Calculator
Lenders look at how much of your income can go toward EMIs. This share is often called FOIR (Fixed Obligation to Income Ratio). The calculator turns your income into an estimate of the loan you could get.
Enter your income, existing EMIs, rate and tenure. The result is an estimate, since each lender has its own rules.
Formula used
Affordable EMI = income × FOIR − existing EMIs. Loan = EMI × [(1 + r)^n − 1] / [r × (1 + r)^n].
Frequently asked questions
What FOIR do banks use?
It varies by lender and income, commonly between 40% and 60%.
What else affects eligibility?
Your credit score, age, job stability, property value and existing debts all matter.
Is the result a guarantee?
No. It is an estimate. The lender decides after checking your documents.
Related guides
- Credit Score: How It Works and How to Improve It
- Home Loan Eligibility: How Banks Decide How Much You Get