Loan eligibility calculator

By Anchal Katyal · Written on Jun 26, 2026 · Verified on Sep 21, 2026

See how much loan you might qualify for from your income after other EMIs. Leave headroom for expenses and savings, then check again at a slightly higher rate.

What you'll learn:

The FOIR limits banks use
Why ads overstate eligibility
How co-applicant income counts

Eligibility

Currency

Monthly EMI-

Principal-

Total interest-

Total payment-

Interest share-

Payment breakup

Principal
Interest

Amortization schedule

Starting from

Yearly principal vs interest

Principal
Interest

#	Date	EMI	Principal	Interest	Balance

What this calculator shows

This loan eligibility calculator estimates how large an EMI and principal your income may support using FOIR (fixed obligation to income ratio), existing EMIs, rate, and tenure. Use it before you apply for a home, car, personal, or education loan; set the rate and tenure for that loan. It is a planning ceiling, not a sanction letter.

Fill income and FOIR in Manual mode; use AI mode if you want to describe the loan terms (for example, car loan at 10% for 5 years). Banks still weigh credit score and income stability beyond this math.

How to use this calculator

Enter monthly take-home income and existing EMIs across all loans and cards if you pay them as EMIs.
FOIR defaults to 50%. Adjust if your banker quotes a band such as 40% to 55% for the loan you want.
Set expected rate and tenure to translate leftover EMI capacity into a maximum principal, or use AI mode to fill those loan terms from a short description.
Treat the result as a planning ceiling. Leave headroom for floating-rate resets and irregular expenses.
After you have a candidate principal, open the EMI calculator for that loan type and stress the rate +1%.

How FOIR becomes a loan amount

Max EMI is roughly income × FOIR minus existing EMIs. Max principal is the loan whose EMI equals that leftover capacity at your assumed rate and tenure.

A longer tenure raises eligible principal for the same EMI, but it also raises lifetime interest. Eligibility math and EMI cost math are not the same decision.

Lenders often count only part of self-employed income. Be conservative so the loan eligibility calculator does not invent capacity the bank will reject.

Eligibility ads that ignore existing EMIs overstate what you can safely borrow. Enter every continuing installment.

Key takeaways

Eligibility is a planning ceiling, not a sanction: credit score, job stability, and the lender's checks on the property still matter.
Keeping FOIR headroom protects you if floating rates rise or irregular expenses appear.
A longer tenure raises eligible principal for the same EMI, but it also raises lifetime interest: eligibility and cost are different decisions.
Lenders often count only part of self-employed income, so conservative inputs beat optimistic ones.

Decision tips before you borrow

Decide what EMI you can keep paying, then shop for rate and fees inside that limit.

Leave headroom for floating-rate resets.
Include proposed EMI plus existing EMIs when you sanity-check FOIR.
Lenders often count only part of self-employed income, so be conservative.
Do not treat maximum eligibility as a target loan amount.
Borrow less than the ceiling if the stressed EMI crowds out savings.

₹1.25 lakh income, ₹18,000 existing EMIs, 50% FOIR at 8.75%

At 50% FOIR on ₹1.25 lakh income, capacity is ₹62,500; subtract ₹18,000 existing EMIs and max EMI headroom is ₹44,500. At 8.75% for 20 years that leftover EMI supports about ₹50 lakh of principal. Raise existing EMIs or stress the rate +1% above to see how quickly eligible amount shrinks, and leave buffer so a floating reset still fits.

Formula: Max EMI ≈ income × FOIR - existing EMIs. Max principal is the loan amount whose EMI equals that leftover capacity at your assumed rate and tenure.

Figures are estimates for education and planning and may differ from your lender’s schedule due to fees, floating rates, or product rules.

Last updated on Aug 11, 2026.

FAQs

How does a loan eligibility calculator work?

It estimates leftover EMI capacity from income × FOIR minus existing EMIs, then converts that capacity into a maximum principal at your assumed rate and tenure. It works the same for a home, car, personal, or education loan; set the rate and tenure for the loan you want. That is a planning ceiling, not a sanction.

What FOIR do banks use?

Commonly about 40% to 55% depending on lender and income band. We default to 50%. Adjust to match your banker’s guidance rather than treating the default as a promise.

Why is eligibility lower than online ads suggest?

Marketing calculators may ignore existing EMIs, use aggressive FOIR, or count every rupee of variable income. Banks also check credit score, employment, and (for home loans) property. Use this loan eligibility calculator as a conservative planning cap.

Should I maximize eligible amount?

No. Decide what EMI you can keep paying, then shop for rate and fees inside that limit. Borrowing the maximum the FOIR math allows often leaves no room for rate resets or life events.

Do co-applicant incomes always add fully?

Not always. Lenders may count only part of one income, ignore certain variable pay, or apply different FOIR bands. Enter a conservative combined figure unless your banker confirms full addition.

How do existing EMIs affect eligibility?

They reduce leftover EMI capacity before the new loan is sized. Enter every continuing EMI, not only the largest one, and exclude loans that will close before the new EMI starts only if the bank agrees.