What is Loan Eligibility?
The Loan Eligibility Calculator estimates the maximum loan amount you can get from Indian banks based on your income, existing obligations, and the lender's FOIR (Fixed Obligations to Income Ratio).
Most Indian banks use 40-60% FOIR — meaning your total EMIs (including the new loan) should not exceed 40-60% of your net monthly income. Higher income and longer tenure increase eligibility.
Formula
Max EMI = Monthly Income × FOIR% Available EMI = Max EMI − Existing EMIs Max Loan = Available EMI × [(1+r)^n − 1] / [r × (1+r)^n] FOIR guidelines: - Salaried: 50-60% - Self-employed: 40-50% - High income (>₹1L): Up to 65%
How to use this Loan Eligibility Calculator?
1. Enter your monthly net income. 2. Enter total of all existing EMIs. 3. Set expected interest rate. 4. Choose tenure (longer = higher eligibility). 5. Set FOIR — 50% is standard for salaried.