Loan Eligibility Calculator
Find out how much home loan, car loan or personal loan you are eligible for based on your salary. Uses FOIR calculation. Shows impact of existing EMIs and joint applicant boost.
Loan Eligibility Calculator
Results update instantly
Your net monthly take-home salary
Expected loan interest rate
These numbers are a solid starting point. Your actual EMI may vary slightly by lender — always confirm before signing.
| Year | EMI Paid | Principal Paid | Interest Paid | Interest % | Balance |
|---|
Most banks apply a 50% FOIR (Fixed Obligation to Income Ratio). On ₹80,000 monthly income with ₹15,000 existing EMIs, maximum new EMI allowed = ₹25,000. At 8.5% for 20 years, that qualifies for approximately ₹28.4L loan. Improving CIBIL above 750 can increase this by 10–15%.
What is a Loan Eligibility Calculator?
A loan eligibility calculator estimates the maximum loan amount a bank will approve based on your monthly income and existing financial obligations. Before applying for any loan — home, car, personal, or business — knowing your eligibility helps you apply for the right amount and avoid rejection, which negatively impacts your CIBIL score.
Enter your net monthly take-home salary, existing EMI obligations (all running loans combined), the expected interest rate, and your preferred tenure. The calculator shows your maximum eligible loan amount based on the standard FOIR (Fixed Obligation to Income Ratio) used by Indian banks.
How loan eligibility is calculated
Indian banks use two primary criteria to determine loan eligibility:
Maximum loan = Reverse EMI formula using max allowed EMI, rate, and tenure
FOIR standard: 40–50% for salaried · 50–55% for self-employed
For ₹80,000 net salary with ₹15,000 existing EMIs at 50% FOIR: Max new EMI = (80,000 × 50%) – 15,000 = ₹25,000/month. At 8.5% for 20 years, this qualifies for ₹28.4 lakh loan.
Key factors affecting loan eligibility
Net income vs gross: Banks use net take-home salary (after PF, tax, and other deductions) to calculate FOIR. Increasing your take-home salary — by optimising tax structure, reducing voluntary PF contribution — directly increases eligibility.
CIBIL score: Below 650, most banks reject outright. 650–700 gets lower loan amounts and higher rates. 700–750 is acceptable. 750+ qualifies for maximum amount at best rates. A 50-point CIBIL improvement can increase eligible loan by 10–15%.
Job stability: Salaried employees with 2+ years at current employer get better eligibility than those recently changed jobs. Most banks require minimum 6 months in current job.
Joint loan to increase eligibility
Adding a co-applicant (spouse, parent, or earning sibling) combines both incomes for FOIR calculation, nearly doubling eligibility. A ₹50,000 earner qualifies for ₹17.8L home loan individually; adding a ₹40,000 earning spouse increases combined eligibility to approximately ₹31.6L — a 77% increase.
ThriftRupee tips to maximise eligibility
Tip 1: Clear small loans before applying. A ₹5,000/month EMI on a personal loan reduces home loan eligibility by approximately ₹5.7L. Closing all small loans before applying for a home loan directly boosts eligibility.
Tip 2: Apply with the right bank. Some banks are more conservative (40% FOIR) while others are more liberal (55%). Applying with a bank that uses a higher FOIR threshold can increase your eligible amount by 25–30%.
Tip 3: Apply after salary hike. If you have an upcoming appraisal, wait until the increment reflects in 2–3 payslips before applying for a large loan. The higher salary directly increases eligibility.