Loan Eligibility Calculator India

Most lenders take your net monthly income, apply a Fixed Obligation to Income Ratio (FOIR) to decide how much of it can go to EMIs, and subtract the EMIs you already pay. The remaining amount is the EMI capacity, and the loan is the amount that EMI repays over the tenure at the interest rate.

FOIR is the share of your net monthly income that all EMIs together may take. It is lender practice and each lender sets its own; typical figures are around 50% for lower incomes rising to about 60% for higher incomes. If you know your lender's FOIR you can enter it, otherwise the calculator uses the typical bands.

No. It is an estimate under the assumptions you selected. Banks also check your credit score, employment, length of service, and for home loans the value of the property, so the amount offered can be higher or lower.

Pay off or reduce existing EMIs, add a co-applicant with income, choose a longer tenure within the lender's limits, or find a lower interest rate. Each of these raises the EMI you can afford or the loan that EMI supports.

The tenure is limited to the lowest of what you asked for, the usual maximum for the loan type (about 30 years for home loans, around 7 for personal and car loans) and the years left until the retirement age lenders assume, about 60 for salaried borrowers. The result notes which limit applied.