Max Allowed EMI (50% of Net Income)
₹ 32,500
Estimated Monthly EMI Capacity
₹ 32,500
Total Interest Payable
₹ 46,95,420
Eligible Loan Amount
₹ 43,04,580
About the Loan Eligibility Calculator
Our free Loan Eligibility Calculator helps borrowers determine the maximum loan amount they can qualify for based on their net monthly income, existing debt obligations, applicable interest rates, and desired repayment tenure.
How Loan Eligibility Is Evaluated
Lenders evaluate loan eligibility primarily using the Fixed-Obligation to Income Ratio (FOIR):
- Income Multiplier & FOIR: Most banks cap total monthly debt payments (including your new loan EMI and any existing loans) at 40% to 50% of your net monthly income.
- Principal Computation: Once your available monthly EMI capacity is established, lenders reverse-calculate the maximum loan principal you can service over your chosen tenure.
How to Use the Calculator
Simply enter your financial details or use the interactive range sliders:
- Net Monthly Income: Your take-home earnings after taxes and deductions.
- Existing Monthly EMIs: Total ongoing monthly payments for personal loans, car loans, or credit cards.
- Interest Rate & Tenure: The prospective loan's annual percentage rate and repayment period in years.
Click the Calculate button to instantly view your max allowed EMI, effective EMI capacity, total interest payable, and final eligible loan amount.
Frequently Asked Questions (FAQs)
How can I improve my loan eligibility amount?
You can increase your eligible loan amount by clearing existing debts to lower your FOIR, opting for a longer tenure, adding a co-applicant with independent income, or showing additional income sources.
What role does CIBIL score play in loan eligibility?
A high CIBIL score (typically 750 or above) demonstrates strong creditworthiness and helps secure lower interest rates, which indirectly increases your maximum eligible loan amount.
Does a longer loan tenure always increase eligibility?
Yes, a longer tenure reduces the monthly EMI required for any given principal, thereby increasing the maximum principal amount you qualify to borrow, though it raises total interest costs.
