HomeLoans & EMI
Loan eligibility calculator
Estimate the largest loan your income can support.
Quick answer
Enter your monthly income, current EMIs, rate and tenure. With โน1,00,000 income, no EMIs and a 50% limit, about โน57.6 lakh of home loan fits at 8.5% over 20 years.
Estimated eligible loan
โน57,61,542
- Affordable EMI
- โน50,000
- Total interest on that loan
- โน62,38,458
An estimate. Lenders also check your credit score, age, job type and the property or vehicle value.
How it works
Lenders cap your total EMIs at a share of your income, called FOIR (fixed obligation to income ratio). The calculator works backwards from the EMI you can carry to the loan it pays off.
Existing EMIs on cards or other loans reduce the room for a new one, so list them all.
A longer tenure or a lower rate raises the loan you qualify for, but it also raises the interest you pay in total.
The formula
- Affordable EMI = income ร FOIR โ existing EMIs
- Loan = EMI ร ((1 + r)^n โ 1) รท (r ร (1 + r)^n)
- r = rate per year รท 12 รท 100, n = tenure in months
A worked example
Income โน1,00,000, no existing EMIs, FOIR 50%: affordable EMI = โน50,000. At 8.5% for 20 years that supports a loan of โน57,61,542.
Common questions
What is FOIR?
Fixed Obligation to Income Ratio: the share of monthly income that goes to loan EMIs. Many banks allow 40 to 55%.
Does my credit score matter?
Yes. A low score can mean rejection or a higher rate, even if the income says you qualify.
Does this guarantee approval?
No. It is an estimate of capacity. The lender decides after checking your documents.
Should I borrow the full eligible amount?
Not necessarily. Borrowing less than the maximum leaves a buffer for rate rises and other expenses.