Loan Eligibility Calculator India
Check your home or personal loan eligibility instantly. Calculate maximum loan amount based on income, obligations & interest rate.
A Loan Eligibility Calculator helps you determine how much loan amount you can get based on your monthly income, existing EMIs, interest rate, and tenure. Before applying for a home loan or personal loan in India, it is important to check your borrowing capacity.
Banks and NBFCs in India use the FOIR (Fixed Obligation to Income Ratio) method to determine eligibility. Typically, lenders allow total EMIs up to 40–50% of your monthly income.
How Loan Eligibility is Calculated
The lender first calculates the maximum EMI you can afford:
Maximum EMI = (Monthly Income × FOIR) − Existing EMIs
Then using the EMI formula, the maximum eligible loan amount is calculated.
Example
If your monthly income is ₹80,000 and existing EMIs are ₹15,000:
- Maximum EMI allowed (50% FOIR) = ₹40,000 − ₹15,000 = ₹25,000
- Based on 8.5% interest for 20 years, eligible loan ≈ ₹27–30 lakh
Why Check Loan Eligibility?
- Avoid loan rejection
- Plan property budget
- Improve approval chances
- Understand affordability
Factors That Affect Eligibility
- Income stability
- Credit score
- Existing liabilities
- Loan tenure
- Interest rate
Use this Loan Eligibility Calculator to estimate your borrowing capacity before applying with banks in India.
Frequently Asked Questions
How is loan eligibility calculated in India?
Loan eligibility is calculated using the FOIR method where total EMIs should not exceed 40–50% of monthly income.
What is FOIR?
FOIR stands for Fixed Obligation to Income Ratio. It determines how much EMI you can afford based on income.
Does credit score affect eligibility?
Yes, higher credit score improves chances of approval and may increase loan eligibility.
Can I increase my loan eligibility?
You can improve eligibility by increasing income, reducing existing EMIs, or choosing longer tenure.
Is this calculator accurate?
This calculator provides an estimate based on common Indian lending practices. Final approval depends on lender policy.