🏦 Loan Eligibility Calculator
See the maximum loan you can get — based on your income & EMIs.
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Lenders cap your total EMIs at a share of your income — the FOIR (Fixed Obligation to Income Ratio), usually 40–60%. Your maximum affordable EMI = (income × FOIR) − existing EMIs. That EMI is then converted into a loan amount using the interest rate and tenure:
Loan = EMI × [ (1+r)n − 1 ] ÷ [ r × (1+r)n ]
where r = monthly interest rate (annual ÷ 12 ÷ 100) and n = tenure in months. A longer tenure or lower rate increases the eligible amount; existing EMIs reduce it.
Frequently Asked Questions
- How much home loan can I get on a ₹60,000 salary?
- At 50% FOIR, ₹30,000/month is available for EMI. At 9% for 20 years that supports roughly a ₹33 lakh loan — use the calculator above for your exact figures.
- What is FOIR?
- Fixed Obligation to Income Ratio — the maximum share of your monthly income a lender lets go toward all EMIs combined, typically 40–60%.
- Does a longer tenure increase eligibility?
- Yes. A longer tenure lowers the EMI per rupee borrowed, so the same affordable EMI supports a larger loan — but you pay more total interest.
- Is this the final amount the bank will sanction?
- No — it is an estimate. Banks also check your credit score, employment, property value and their own policy. Always confirm with the lender.
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⚠️ Estimate only. Actual loan sanction depends on your credit score, lender policy, income proof and property value. Not financial advice — verify with your bank or a qualified advisor.