What is the Loan Eligibility Calculator? A loan eligibility calculator estimates the loan a lender may sanction. It takes the share of your income lenders allow for EMIs (FOIR), subtracts the EMIs you already pay, and finds the loan that remaining EMI repays.
How to use the Loan Eligibility Calculator
- Enter your monthly take-home income.
- Add the EMIs you already pay on all loans.
- Set the EMI limit (FOIR), the interest rate and the tenure.
- Read the loan you may get and how it changes with a longer or shorter tenure.
Frequently asked questions
What is FOIR?
FOIR is the fixed obligations to income ratio: the share of monthly income that can go to EMIs and other fixed payments. Many lenders use about 40 to 50% for salaried borrowers.
How is loan eligibility calculated?
Eligible EMI = income × FOIR − current EMIs. The loan amount is the principal that this EMI repays over your chosen tenure at the interest rate.
How can I increase my loan eligibility?
Close existing loans, add a co-applicant with income, choose a longer tenure, or improve your credit score so you qualify for a lower rate.
Results are estimates based on the inputs you enter, not guaranteed returns or financial advice.