Loan Eligibility Calculator – Find Your Maximum Loan Amount
This free loan eligibility calculator estimates the maximum loan amount a bank or lender may approve based on your monthly income, expenses and existing EMIs. Instant results, no signup required.
How Loan Eligibility is Calculated
Most Indian banks use the FOIR (Fixed Obligation to Income Ratio) method. Banks allow 40–60% of net monthly income for EMI payments. This calculator uses 50% FOIR — a common benchmark used by SBI, HDFC and ICICI Bank.
Max EMI = (Net Income − Expenses − Existing EMIs) × 50%
Eligible Loan = Max EMI × [(1+r)ⁿ − 1] ÷ [r × (1+r)ⁿ]
Eligibility by Income Level
| Monthly Income | Approx. Max Home Loan | At 8.5% for 20 yrs |
|---|
| ₹30,000 | ₹15,000 max EMI | ≈₹15.2 Lakh |
| ₹60,000 | ₹30,000 max EMI | ≈₹30.4 Lakh |
| ₹1,00,000 | ₹50,000 max EMI | ≈₹50.7 Lakh |
| ₹2,00,000 | ₹1,00,000 max EMI | ≈₹1.01 Crore |
💡 To increase loan eligibility: add a co-applicant (spouse's income is counted), improve your CIBIL score above 750, clear existing loans before applying, or choose a longer tenure.
Frequently Asked Questions
What is FOIR?FOIR (Fixed Obligation to Income Ratio) is the percentage of your income that goes toward all fixed EMI payments. Most banks cap this at 40–55%. Higher FOIR = lower loan eligibility.
Does credit score affect eligibility?Yes. A CIBIL score above 750 qualifies you for higher loan amounts at lower rates. Below 650, most banks reject applications outright.
Is this calculator 100% accurate?This gives an estimate based on standard FOIR norms. Actual eligibility depends on your credit score, employment type, employer, age and the specific bank's policies.