Estimate the maximum loan amount you may qualify for based on your monthly income, existing EMI obligations, interest rate, and tenure.
This is an estimate for planning purposes only. Actual loan offers also depend on credit score, employment history, collateral, and lender policy.
Eligibility at different tenures (same income, FOIR, and rate)
| Tenure | Max EMI | Max loan amount |
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Show calculation steps
How to use the loan eligibility calculator
- Enter your monthly net (take-home) income.
- Enter the total of any existing monthly EMIs you're already paying.
- Set your FOIR limit, the percentage of income lenders in your market typically allow toward all EMIs combined, 50% is a common starting assumption.
- Enter the expected annual interest rate and desired loan tenure.
- Click Calculate Eligibility to see your maximum affordable EMI and estimated maximum loan amount.
How loan eligibility is actually calculated
Lenders typically start by capping total EMIs, existing plus new, at a fixed percentage of monthly income (the FOIR). Subtracting your existing EMIs from that cap gives the maximum new EMI you can take on. That maximum EMI is then converted into a loan amount using the standard EMI formula, run in reverse, based on your interest rate and tenure.
Example
On an income of 80,000 with a 50% FOIR and no existing EMIs, the maximum affordable EMI is 40,000. At 9.5% annual interest over a 20-year tenure, that EMI supports a loan of roughly 43-44 lakh, before any lender-specific adjustments.
Frequently asked questions
- What is FOIR and why does it matter for loan eligibility?
- It's the share of income lenders allow toward all EMIs combined, directly capping how much new loan you qualify for.
- Will my actual loan offer match this estimate exactly?
- No, lenders also weigh credit score, employment, and policy, so treat this as a planning guide.
- Why does increasing the loan tenure increase my eligibility?
- A longer tenure lowers the EMI per unit borrowed, so more loan fits within the same affordable EMI.
- Does this tool store or send my income details anywhere?
- No, all calculations happen locally in your browser.
Bookmark this page and re-check your eligibility whenever your income or existing EMIs change, it takes seconds and keeps your borrowing plans realistic.
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