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Loan Eligibility Calculator

Find out the maximum loan amount you qualify for based on your income, existing obligations, and chosen bank's FOIR norms.

🏠 Home Loan 🚗 Car Loan 💳 Personal Loan ⚡ Instant Results

Home loans: up to 80% of property value (LTV). Banks use FOIR (Fixed Obligation to Income Ratio) of 40–55% to determine max EMI.

₹15K₹5L
₹0₹1L
130
6%24%
30%65%

💰 Income Breakdown — How Banks See Your Eligibility

📊 Loan Eligibility by Salary (at current settings)

How Banks Calculate Loan Eligibility

Indian banks use the FOIR (Fixed Obligation to Income Ratio) as the primary metric for loan eligibility. It's simpler than it sounds: the total of all your EMIs (existing + new) cannot exceed a certain percentage of your net monthly income.

FOIR Explained

If your net monthly income is ₹75,000 and the bank uses a 50% FOIR:

  • Maximum total monthly obligations = ₹75,000 × 50% = ₹37,500
  • If you have existing EMIs of ₹10,000, available for new EMI = ₹27,500
  • With this EMI, the maximum loan amount = EMI × [((1+r)^n − 1) / (r × (1+r)^n)]

Different banks use different FOIR limits. PSU banks like SBI often use 40–45%; private banks may go up to 55%; some NBFCs go up to 65% for high-income borrowers.

Loan Eligibility by Salary (Home Loan, 8.5%, 20 Years)

Net Monthly IncomeMax EMI (50% FOIR)Max Home LoanMax Property Value (80% LTV)
₹30,000₹15,000₹14.1 L₹17.6 L
₹50,000₹25,000₹23.5 L₹29.4 L
₹75,000₹37,500₹35.2 L₹44.0 L
₹1,00,000₹50,000₹47.0 L₹58.7 L
₹1,50,000₹75,000₹70.5 L₹88.1 L

How to Increase Your Loan Eligibility

  • Add a co-applicant: Combined income boosts eligible amount by 50–100%
  • Clear existing EMIs: Paying off a personal loan before applying frees up FOIR capacity
  • Improve CIBIL score: 750+ gets you better rates, which increases the principal you can borrow for the same EMI
  • Increase tenure: A 30-year tenure vs 20-year can increase eligible loan by 20–25%
  • Switch to a lower-rate lender: At 7.5% vs 9%, the same EMI supports a 12% larger loan

Why You Should Never Take the Maximum Loan You're Eligible For

Being eligible for ₹50 lakh doesn't mean borrowing ₹50 lakh is wise. The bank's FOIR calculation doesn't account for your savings goals, insurance premiums, school fees, or lifestyle expenses. A more conservative approach: keep your home loan EMI under 30–35% of take-home income, leaving room for SIPs, emergencies, and life events.

Frequently Asked Questions

Does CIBIL score affect loan eligibility? +
Yes, significantly. A CIBIL score above 750 gets you the best interest rates and maximum loan amounts. Scores between 700–750 may attract higher rates (0.25–0.5% more). Below 700, many banks will reject the application or offer very restrictive terms.
How does adding a co-applicant increase loan eligibility? +
Adding a co-applicant (spouse, parent, or earning sibling) allows the bank to consider combined income. If your income is ₹75,000 and spouse earns ₹50,000, combined eligibility is calculated on ₹1,25,000 — potentially increasing your eligible loan by 50–60%.
How can I check loan eligibility without affecting CIBIL? +
Use soft inquiry tools on bank websites or this calculator. A 'soft pull' does not affect your CIBIL score. Only when you formally apply does the bank do a 'hard inquiry'. Avoid applying to multiple banks simultaneously as each hard pull reduces your score.
Are self-employed individuals eligible for the same loan amount? +
Self-employed individuals are typically eligible for similar amounts but face stricter documentation: 3 years of ITR, business financials, bank statements. Banks use net income from ITR rather than gross revenue. Interest rates may be 0.25–0.5% higher due to perceived income volatility.
What is loan pre-approval and how does it work? +
Pre-approval is a bank's conditional commitment to lend up to a certain amount based on income and credit profile. Valid for 3–6 months, it helps you house-hunt with a clear budget. It requires a soft credit check and income documents but does not guarantee final approval.
Does your employer affect home loan eligibility? +
Yes. Banks categorize employers into Category A (PSUs, large MNCs, top IT firms), B (stable private companies), and C (others). Category A employees get the best rates. Government employees with pension benefits often get preferential treatment. Category C employees may face stricter FOIR norms.
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