You are Eligible for
Before applying for a Home Loan or Personal Loan, it is crucial to know how much a bank is willing to lend you. This is known as your "Loan Eligibility." Banks calculate this based on your monthly income, your current debt obligations (existing EMIs), and the tenure you choose. Our Loan Eligibility Calculator mimics this banking logic. It helps you estimate the maximum loan amount you can qualify for, allowing you to plan your budget for a new house or car realistically without facing rejection.
Uses the standard FOIR (Fixed Obligation to Income Ratio) of 50% used by most Indian banks.
Knowing your limit beforehand helps you apply for the right amount, reducing chances of rejection.
See how your current EMIs drastically reduce your borrowing capacity for future loans.
Discover how increasing your loan tenure can increase the loan amount you are eligible for.
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FOIR stands for Fixed Obligation to Income Ratio. Banks usually cap your total EMI liability at 40% to 50% of your net monthly income. This ensures you have enough salary left for daily living expenses after paying your loan installments.
You can increase your eligibility by:
1. Paying off existing debts (loans/credit cards).
2. Increasing the loan tenure.
3. Adding a co-applicant (spouse/parent) with an income.
4. Clearing other financial obligations.
Yes. While income determines the math, your CIBIL score gives the bank confidence. A high score (750+) might allow the bank to offer you a higher loan amount or a lower interest rate, which in turn increases your eligibility.
No, this is an indicative maximum limit. The final sanctioned amount depends on the bank's internal policies, your job stability, property valuation (for home loans), and detailed credit report analysis.
