Loan Eligibility Calculator — India (₹)

Find out exactly how much home loan, car loan, or personal loan you qualify for based on your monthly income, existing EMIs, and your bank's FOIR criteria.

🏦 Your Financial Profile
Take-home salary after tax and deductions
🚀 Quick Loan Presets
Home Loan (8.5% × 20yr)₹46,09,234
Car Loan (9.5% × 7yr)₹24,47,384
Personal Loan (12% × 5yr)₹17,98,202
Education Loan (8% × 10yr)₹32,96,859
Maximum Loan Eligible₹46,09,234
Maximum EMI Allowed₹40,000/mo
FOIR Used50%
Available for New EMI₹40,000/mo
❓ FAQs
What is FOIR (Fixed Obligation to Income Ratio)?

FOIR is the ratio of your total EMI obligations to your monthly income. Most banks allow up to 40-50% FOIR for home loans and up to 60% for higher income borrowers.

How is loan eligibility calculated?

Banks calculate the maximum EMI you can pay (income × FOIR - existing EMIs), then use this EMI to compute the maximum loan amount at the given interest rate and tenure.

How can I increase my loan eligibility?

You can increase eligibility by: (1) adding a co-applicant, (2) increasing tenure, (3) repaying existing loans, (4) improving credit score to get lower interest rates, or (5) increasing down payment.

What salary is needed for a ₹50 lakh home loan?

For a ₹50 lakh home loan at 8.5% for 20 years, the EMI is approximately ₹43,400. Most banks require a net monthly income of at least ₹80,000–₹90,000 (at 50% FOIR) to qualify. Adding a co-applicant (spouse) can significantly increase eligibility.

Does CIBIL score affect loan eligibility?

Yes, significantly. A CIBIL score above 750 not only increases approval chances but also helps you negotiate a lower interest rate (0.25–0.5% lower), which directly increases the loan amount you qualify for.

Can I get a loan with existing EMIs?

Yes, but existing EMIs reduce your eligible loan amount. For example, if you earn ₹1 lakh/month and already pay ₹20,000 in EMI, only ₹30,000 remains available for a new EMI (at 50% FOIR), reducing your eligible home loan amount by nearly ₹30 lakh.

What is the maximum loan-to-value (LTV) ratio in India?

RBI mandates that banks can lend up to 90% of the property value for loans up to ₹30 lakh, 80% for ₹30–75 lakh, and 75% for loans above ₹75 lakh. The remaining amount must be arranged as a down payment.

What is Loan Eligibility?

Loan eligibility is the maximum loan amount a bank or NBFC is willing to lend you, based on your repayment capacity. Indian lenders primarily assess eligibility using two criteria: FOIR (Fixed Obligation to Income Ratio) — the percentage of your monthly income already committed to EMIs — and your CIBIL score, which reflects your credit history.

For example, if you earn ₹80,000/month and your bank allows 50% FOIR, your maximum EMI capacity is ₹40,000. At 8.5% for 20 years, this translates to a home loan eligibility of approximately ₹46 lakh. Adding a co-applicant (usually a spouse) combines both incomes, dramatically increasing eligibility.

How to Use This Loan Eligibility Calculator

  • Net Monthly Income: Enter your take-home salary after tax and PF deductions. For self-employed, use average monthly net profit.
  • Existing EMIs: Enter the total of all current loan EMIs (car loan, personal loan, credit card minimums). These reduce your eligible amount.
  • Interest Rate: Enter the rate offered by your target bank. Home loans typically range from 8.5–10.5% in India.
  • Tenure: Choose your preferred loan tenure. Longer tenure (20–30 years) increases eligibility by reducing the required EMI per lakh.
  • FOIR: Select your bank's FOIR policy. Most banks use 40–50% for standard cases and up to 60–70% for high-income borrowers.

Key Factors That Affect Loan Eligibility in India

  • Monthly Income: Higher income = higher eligibility. Lenders look at net take-home, not gross CTC.
  • CIBIL Score: A score of 750+ unlocks lower rates and higher eligibility. Below 650 makes getting a home loan very difficult.
  • Existing Debt: Every ₹10,000 in existing EMI reduces your home loan eligibility by approximately ₹11 lakh (at 8.5%, 20 years).
  • Employment Type: Salaried employees at established companies get better terms than self-employed applicants. Government employees often get the most favourable terms.
  • Age: Younger borrowers qualify for longer tenures. Banks typically require the loan to be fully repaid before age 70 (or retirement age).

Tips to Increase Your Loan Eligibility

  • Add a co-applicant: Including your working spouse as a co-applicant can nearly double your loan eligibility since both incomes are considered.
  • Close small loans first: Paying off a personal loan or car loan before applying for a home loan can significantly increase your eligible amount.
  • Improve your CIBIL score: A 6-month track record of timely payments and no new credit can improve your score by 30–50 points, unlocking better rates.
  • Opt for a longer tenure: Increasing tenure from 15 to 20 years reduces your required EMI per lakh by ₹200+, boosting eligibility by ₹10–15 lakh.
  • Negotiate the interest rate: Every 0.5% reduction in rate increases your eligible loan amount by ₹3–4 lakh on a typical ₹50L home loan.

Frequently Asked Questions

What is FOIR (Fixed Obligation to Income Ratio)?

FOIR is the ratio of your total EMI obligations to your monthly income. Most banks allow up to 40-50% FOIR for home loans and up to 60% for higher income borrowers.

How is loan eligibility calculated?

Banks calculate the maximum EMI you can pay (income × FOIR - existing EMIs), then use this EMI to compute the maximum loan amount at the given interest rate and tenure.

How can I increase my loan eligibility?

You can increase eligibility by: (1) adding a co-applicant, (2) increasing tenure, (3) repaying existing loans, (4) improving credit score to get lower interest rates, or (5) increasing down payment.

What salary is needed for a ₹50 lakh home loan?

For a ₹50 lakh home loan at 8.5% for 20 years, the EMI is approximately ₹43,400. Most banks require a net monthly income of at least ₹80,000–₹90,000 (at 50% FOIR) to qualify. Adding a co-applicant (spouse) can significantly increase eligibility.

Does CIBIL score affect loan eligibility?

Yes, significantly. A CIBIL score above 750 not only increases approval chances but also helps you negotiate a lower interest rate (0.25–0.5% lower), which directly increases the loan amount you qualify for.

Can I get a loan with existing EMIs?

Yes, but existing EMIs reduce your eligible loan amount. For example, if you earn ₹1 lakh/month and already pay ₹20,000 in EMI, only ₹30,000 remains available for a new EMI (at 50% FOIR), reducing your eligible home loan amount by nearly ₹30 lakh.

What is the maximum loan-to-value (LTV) ratio in India?

RBI mandates that banks can lend up to 90% of the property value for loans up to ₹30 lakh, 80% for ₹30–75 lakh, and 75% for loans above ₹75 lakh. The remaining amount must be arranged as a down payment.

Disclaimer: Loan eligibility estimates are for informational purposes only. Actual eligibility may differ based on your bank's credit policy, CIBIL score, employment type, and property valuation. Always consult your bank or a certified financial advisor.