Loan Eligibility Calculator - Check How Much You Can Borrow
Check your loan eligibility based on salary and existing EMIs. Find out the maximum loan amount you can get from banks.
Calculate Loan Eligibility
Your net monthly take-home salary
Total of all current EMI payments
Expected loan interest rate
Desired loan tenure
Eligible Loan Amount
₹40,33,079
Maximum EMI Affordable
₹35,000
Formula & Explanation
Eligible Amount = Max EMI × [(1+r)^n - 1] / [r × (1+r)^n]Where Max EMI = 50% of salary - existing EMIs, r = monthly interest rate, n = tenure in months. Banks use FOIR (Fixed Obligation to Income Ratio) of 40-60%.
Calculation Examples
₹80K Salary
Salary ₹80K, no existing EMI, 8.5% for 20 years
Eligible: ₹46.15 Lakhs | Max EMI: ₹40,000
Benefits
- Know your borrowing capacity
- Plan property budget
- Avoid loan rejection
- Compare across tenures
Use Cases
- Home loan planning
- Pre-approval check
- Budget planning
- Loan comparison
About Loan Eligibility Calculator
Our Loan Eligibility Calculator helps you determine the maximum loan amount you can borrow based on your monthly salary and existing financial obligations. Banks typically allow EMI up to 50% of your net monthly income.
Frequently Asked Questions
Banks use FOIR (Fixed Obligation to Income Ratio) which is typically 40-60% of net income. They subtract existing EMIs from this to determine your maximum new EMI capacity.
Yes, a higher credit score (750+) can get you better interest rates and higher loan amounts. A score below 650 may result in loan rejection.