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Loan Eligibility Calculator
Check the loan amount you may qualify for based on your income. Adjust any input below and your results update instantly.
Understanding loan eligibility
The concept, the motivation, and what to watch out for.
What decides how much you can borrow?
Lenders generally cap your total EMI obligations — existing loans plus the new one — at a fixed percentage of your income, known as FOIR (Fixed Obligation to Income Ratio) or a debt-to-income limit.
Whatever EMI capacity is left after your existing obligations determines the maximum loan a lender will offer you at a given rate and tenure — this calculator works backward from that available EMI to your eligible loan amount.
Existing EMIs directly reduce what you can borrow
Every rupee already committed to an EMI is a rupee lenders won't let you commit to a new one, within the same FOIR limit.
It's the same EMI math, solved in reverse
Instead of asking "what's my EMI on this loan amount," this calculator asks "what loan amount does my available EMI support."
How this calculator helps
Enter your income, existing EMIs, rate, tenure, and FOIR limit — your eligible loan amount updates instantly, along with what it would look like to actually repay it.
Check your loan eligibility
Fill in the starred fields on the left — your results update instantly on the right.
Your details
e.g. ₹80,000 monthly income
e.g. ₹10,000 in existing EMIs
e.g. 9% for the loan you're considering
e.g. 15 years
e.g. 50% FOIR limit
How these compare
vs. typical India long-term ranges
Max EMI-to-income ratio: 50%
Typical FOIR limit: 40–50%
Interest rate: 9%
Typical loan rate: 8–12%
These are example numbers. Edit any input on the left to see your own.
You're eligible for a loan of
₹29.58 L
at 9% over 15 years
Available EMI
₹30,000/mo
Total interest
₹24.42 L
Your existing EMIs use 25% of your allowed EMI capacity, leaving room for a new loan.
Outstanding balance vs. interest paid
Outstanding balanceInterest paid so far
How your eligible loan amount would amortize if you borrowed the full amount.
Principal vs. interest, by year
PrincipalInterest
How much of that year’s EMI payments would go toward principal vs interest — hover a bar for exact figures.
Year-by-year amortization
"% of principal repaid" shows how much of the eligible loan would be paid off by that year.
YearOutstanding balanceInterest paid so farStatus
1₹28.60 L₹2.62 L
3% loan repaid
3% of principal repaid
3₹26.36 L₹7.58 L
11% loan repaid
11% of principal repaid
5₹23.68 L₹12.10 L
20% loan repaid
20% of principal repaid
7₹20.48 L₹16.10 L
31% loan repaid
31% of principal repaid
9₹16.64 L₹19.47 L
44% loan repaid
44% of principal repaid
11₹12.06 L₹22.08 L
59% loan repaid
59% of principal repaid
13₹6.57 L₹23.79 L
78% loan repaid
78% of principal repaid
15₹0₹24.42 L
100% loan repaid
100% of principal repaid
Compare scenarios
See how paying off debt or an income change would move your eligibility.
Your plan
₹80,000/mo income · 50% FOIR
₹29.58 L
Eligible loan amount
Baseline
Existing EMIs -50%
₹5,000/mo existing EMIs
₹34.51 L
Eligible loan amount
+₹4.93 L
Income +10%
₹88,000/mo income
₹33.52 L
Eligible loan amount
+₹3.94 L
Worked example, using your numbers
A step-by-step walkthrough of how your income becomes your eligible loan amount.
Step 1 · Available EMI
After ₹10,000 in existing EMIs, your 50% FOIR limit leaves you with
₹30,000/mo
Step 2 · Monthly rate
Your 9% annual rate converts to a monthly rate of
0.750%
Step 3 · Eligible loan amount
Solving for the loan that fits ₹30,000/mo over 15 years gives
₹29.58 L
✓
Based on your income and existing EMIs, you’re eligible for a loan of ₹29.58 L at 9% over 15 years.
Personalised insights
What your numbers reveal, and what changing them would do.
Based on your ₹80,000 income, you're eligible for a loan of ₹29.58 L
At a 50% FOIR limit and ₹10,000 in existing EMIs, you have ₹30,000/month available — enough to support this loan at 9% over 15 years.
Your existing EMIs use 25% of your allowed EMI capacity
Your FOIR limit allows ₹40,000/month in total EMIs — ₹10,000 of that is already committed, leaving ₹30,000/month for a new loan.
Paying off half your existing EMIs would raise your eligibility by ₹4.93 L
Reducing your existing EMIs from ₹10,000 to ₹5,000 frees up EMI capacity, raising your eligible loan amount to ₹34.51 L.
A 10% income increase would raise your eligibility by ₹3.94 L
At ₹88,000/month instead of ₹80,000, the same FOIR limit would support a loan of ₹33.52 L.
How this is calculated
Every step of the math behind your result, shown in the open.
Your available EMI capacity
I = monthly income, FOIR = max EMI-to-income ratio, E_existing = existing EMIs, E_max = available EMI
Your income (I), multiplied by your lender's FOIR limit, sets your total allowed EMI — existing EMIs are subtracted to leave what's available for a new loan.
Example: ₹80,000 × 50% − ₹10,000 → ₹30,000 available
Converting to a monthly rate
r = annual interest rate (%), r_m = monthly rate (%)
Your annual rate (r) is divided by 12, since interest is charged — and your instalment is due — every month, not once a year.
Example: 9% ÷ 12 → 0.750% per month
Solving for your eligible loan amount
E_max = available EMI, r_m = monthly rate, n = number of months, L = eligible loan amount
This is the EMI formula solved in reverse — instead of computing an EMI from a loan amount, it computes the loan amount (L) that your available EMI (E_max) can support.
Example: ₹30,000/month over 180 months at 0.750%/month → ₹29.58 L eligible
Assumptions
- The FOIR limit and interest rate are indicative — actual lender policies vary and may factor in credit score and other criteria.
- Existing EMIs are assumed to continue unchanged for the full new-loan tenure.
- This estimates eligibility only — it isn't a loan offer or approval from any lender.
- Figures are indicative and pre-tax — not financial advice.
Did you know?
A few facts behind how lenders assess eligibility.
40–50%
FOIR limits commonly sit around 40–50%
Most Indian lenders cap total EMI obligations at 40–50% of income for salaried borrowers, though this varies by lender and income bracket.
Tenure
A longer tenure raises eligibility, not affordability
Stretching the tenure increases the loan amount you qualify for, but it also increases the total interest you'll pay — eligibility and the smartest choice aren't always the same thing.
Payoff
Clearing existing debt is the fastest lever
Paying off or closing an existing EMI frees up that exact amount of capacity within your FOIR limit — often a faster way to raise eligibility than waiting for a raise.
CIBIL
Your credit score can move the FOIR limit itself
A strong credit score can sometimes get you a more generous FOIR limit from a lender, on top of a lower interest rate.
Frequently asked questions
Straight answers to the questions we hear most about loan eligibility.
What is FOIR?
FOIR (Fixed Obligation to Income Ratio) is the percentage of your monthly income lenders will allow toward all your EMI obligations combined — existing loans plus the new one you're applying for.
Why do my existing EMIs reduce my eligibility?
Lenders assess your ability to repay based on your total EMI burden, not just the new loan. Every rupee already committed to an existing EMI reduces the room left within your FOIR limit for a new one.
Does a longer tenure increase my eligibility?
Yes. A longer tenure lowers the EMI needed to repay a given loan amount, which means your same available EMI capacity can support a larger loan — though you'll pay more total interest over time.
Is FOIR the only thing lenders look at?
No. Credit score, employment stability, existing relationship with the lender, and the specific loan product's policies all factor in too — FOIR is a useful estimate, not a guarantee of approval.
Should I use my gross or net income here?
Policies vary by lender — some use gross (before-tax) income, others use net take-home pay. Check your specific lender's policy, or try both to see the range of your likely eligibility.
Is this financial advice?
No. This tool provides indicative estimates based on your assumptions. Consult your lender or a certified financial advisor before making borrowing decisions.
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Learn more
Articles to go deeper on the ideas behind this calculator.
Fundamentals
What is FOIR, and how does it decide your loan eligibility?
The debt-to-income math lenders use to decide how much they'll offer you.
5 min read
Strategy
How to improve your loan eligibility
Practical levers — from paying off debt to timing your application — that actually move the number.
5 min read
Fundamentals
How EMI is calculated, step by step
The formula behind every EMI, and why early instalments are mostly interest.
5 min read