How much loan my income qualifies for. The Loan Eligibility Calculator takes monthly net income, existing emis per month, maximum share of income for emis (foir), interest rate, tenure and returns maximum loan amount plus maximum affordable emi, total repayment over the tenure. Results update as you type, and the formula is shown under the result so you can repeat it in your own spreadsheet.
The headline interest rate is only part of what a loan costs: fees, the structure of repayments and how the rate is quoted (flat or reducing) all change the true cost. Compare offers on total interest and effective rate, not on EMI alone. Use the worked example below to check the maths against your own figures.
How the Loan Eligibility Calculator works
Lenders cap total EMIs at a share of net income (the fixed-obligation-to-income ratio), usually 40–55%. The loan you qualify for is the amount that EMI can service over the tenure at the offered rate.
Worked example
With the example values (monthly net income of ₹80,000, existing emis per month of ₹5,000, maximum share of income for emis (foir) of 50%, interest rate of 10%, tenure of 20 years), the maximum loan amount is ₹3,626,861.65; maximum affordable emi ₹35,000.00, total repayment over the tenure ₹8,400,000.00. Change any figure above and the result updates immediately; use Copy results to paste the summary into a note or email.
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Frequently Asked Questions
How is maximum loan amount calculated?
maximum EMI = income × FOIR − existing EMIs; loan = present value of that EMI over the tenure at the loan rate.
Which figures do I need?
Monthly net income, existing emis per month, maximum share of income for emis (foir), interest rate, tenure. Take them from the same period and the same set of accounts or reports so the ratio is consistent, and check the example values as a guide to the units expected.
Does the result include fees and charges?
Only where there is a fee input. Processing fees, insurance and prepayment charges add to the true cost; the APR and loan comparison calculators include them.
