Loan Eligibility Calculator – How Much Can You Borrow?

What your result means

The headline figure is the loan amount a lender might sanction if it caps your total EMIs at the FOIR percentage you set. Maximum EMI is the monthly instalment that fits under that cap after your existing EMIs; the donut shows how much of your income all EMIs would then take. Interest over the tenure is what that loan would cost in total.

This is an estimate of capacity, not an offer. Lenders also check your credit score, age, employer, property value and documents, and each sets its own FOIR. Treat the number as the ceiling to plan around, then ask the lender for a pre-approval.

How to use this loan eligibility calculator

1. Enter your net monthly income (take-home). For a joint loan, add the co-applicant’s income.
2. Enter the total of existing EMIs you pay each month (car loan, personal loan, credit-card EMIs).
3. Enter the interest rate and tenure the lender quotes for the loan you want.
4. Keep the FOIR limit at 50% or change it to your lender’s figure; the result updates instantly.

Formula and worked example

Maximum EMI   = income × FOIR ÷ 100 − existing EMIs
Eligible loan = EMI × ((1 + r)^n − 1) ÷ (r × (1 + r)^n)      (inverse of the EMI formula)
r = annual rate ÷ 12 ÷ 100,  n = tenure in months

Worked example (computed by this tool’s own function): income ₹1,00,000, no existing EMIs, 9% for 20 years, FOIR 50%.

• Maximum EMI = 1,00,000 × 50% = ₹50,000
• Eligible loan = 50,000 × ((1.0075)^240 − 1) ÷ (0.0075 × 1.0075^240) = ₹55,57,248
• Interest over 20 years = ₹64,42,752

With an existing car-loan EMI of ₹15,000 the maximum EMI falls to ₹35,000 and the eligible loan to ₹38,90,073.

Assumptions used by this calculator

FOIR is common bank practice, not a rule. Lenders typically allow 40–60% depending on income level and profile, and the final decision is always the lender’s.

Eligibility at different FOIR limits (₹1,00,000 income, 9%, 20 years)

| 40% | ₹40,000 | ₹44,45,798 | | 50% | ₹50,000 | ₹55,57,248 | | 60% | ₹60,000 | ₹66,68,697 |

Reference table (FOIR 50%)

Special cases and common mistakes

• Loan-to-value caps. For home loans the amount is also limited to a share of the property value (commonly 75–90%). Even if income supports more, the loan cannot exceed that.
• Credit-card dues. Minimum dues and card EMIs count as obligations; high utilisation can also reduce the FOIR a lender allows.
• Variable income. Self-employed applicants are usually assessed on average income from tax returns, not a single month.
• Age. Tenure is often capped so the loan ends by retirement age, which shortens the tenure and reduces eligibility.
• Rate changes. A higher rate raises the EMI per lakh and lowers the loan you qualify for; check with today’s rate card.
• Over-borrowing. Qualifying for a loan is not the same as affording it comfortably. Many planners suggest keeping all EMIs under 35–40% of income even when a lender allows more.