About Loan Eligibility Calculator
Find out exactly how much loan you can get with our Loan Eligibility Calculator. Enter your monthly take-home income, existing EMI obligations, interest rate, and tenure — we use the FOIR (Fixed Obligation to Income Ratio) method used by Indian banks to compute the maximum eligible loan amount.
Loan Eligibility Formula
Use these standard formulas for accurate estimates:
Available EMI
Max loan from EMI
FOIR range
Example Calculation
Example: ₹1,00,000 income, ₹10K existing EMI, 50% FOIR
| Component | Value |
|---|---|
| Monthly income | ₹1,00,000 |
| FOIR (50%) | ₹50,000 |
| Existing EMIs | ₹10,000 |
| Available for loan EMI | ₹40,000 |
| Max loan @ 8.5% for 20 yrs | ~₹46,00,000 |
Benefits of Using This Calculator
Instant results with standard financial formulas
Clear charts and tables for better decisions
Mobile-friendly — works on any device
100% free — no signup or data stored on servers
Built for Indian investors and taxpayers
Compare scenarios side-by-side where applicable
Frequently Asked Questions
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Fixed Obligation to Income Ratio (FOIR) is the percentage of monthly income that can be used for all EMIs combined. Lenders typically cap this at 40–55% for salaried individuals.
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A credit score above 750 typically unlocks the maximum eligible loan amount at the best rate. Scores below 650 may reduce eligibility or lead to rejection. FOIR-based eligibility assumes good credit.
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Banks prefer net monthly take-home (after PF, TDS, and deductions) for FOIR calculation. Use your in-hand salary for the most accurate eligibility estimate.
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Yes — by adding a co-applicant (spouse or parent), clearing existing EMIs before applying, or choosing a longer tenure to reduce the required EMI per lakh.
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EMI, Prepayment and Home Loan Tax calculators — all free on Investro.
Conclusion
Loan eligibility depends on income, credit score, existing obligations, and lender-specific policies. Use this calculator for orientation; actual disbursals may vary by 10–20%. A credit score above 750 and minimal existing obligations significantly improve both eligibility and interest rate offered.