ToolFoxLoan Eligibility Calculator
Estimate the maximum loan amount and EMI a lender is likely to approve based on your income and existing debts.
- Maximum loan amount
- ₹46,09,234
- Maximum EMI you can afford
- ₹40,000
How it works
Lenders typically cap total monthly debt obligations at around 50% of net monthly income — the Fixed Obligation to Income Ratio (FOIR). The calculator computes your maximum affordable EMI as 50% of income minus your existing EMIs (never less than zero), then works backwards through the standard EMI formula to find the loan amount that produces exactly that EMI at your expected interest rate and tenure.
Example
On a ₹1,00,000 monthly income with ₹10,000 already going to existing EMIs, the maximum affordable EMI is 50% × ₹1,00,000 − ₹10,000 = ₹40,000; at 8.5% over 20 years, that translates into a maximum loan amount of a little over ₹46 lakh.
Frequently asked questions
Why 50%?
Most Indian banks and NBFCs use a FOIR ceiling of around 40–50% of net income for all EMIs combined; this calculator uses the common 50% figure as a planning estimate, not a guarantee from any specific lender.
What counts as an existing EMI?
Any recurring monthly repayment — car loans, personal loans, credit-card minimum dues treated as EMI, or other loan instalments already committed.
Will every bank offer exactly this amount?
No. Actual eligibility also depends on credit score, employment type, loan-to-value limits and the specific lender's policy — this is a planning estimate, not a sanction.
What if my existing EMIs already exceed 50% of income?
The maximum affordable EMI and loan amount are both shown as zero — you would need to reduce existing obligations before qualifying for more credit.
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