Loan Eligibility Calculator

Know your borrowing power with
precision

Check how much loan banks will approve based on your salary, existing EMIs, and credit score.

Max Eligible Loan

₹0

Based on inputs

Max New EMI Capacity

₹0

As per FOIR Rules

Credit Profile

Excellent

Approval Chances

💼 Financial Profile

Net Monthly Salary (₹)

₹15K₹5L+

Existing Monthly EMIs (₹)

₹0₹2.5L

Credit Score (CIBIL)

300 (Poor)900 (Excellent)

🏦 Loan Requirements

Expected Interest Rate (%)

6%24%

Expected Tenure (Years)

1 yr30 yrs

📊 Income Distribution (FOIR)

Existing EMIs —

New EMI Capacity —

Take Home Cash —

📅 Eligibility by Loan Tenure

Tenure	Interest Rate	Affordable EMI	Eligible Loan Amt

Calculators

SIP EMI Home Loan Car Loan Personal Loan NPS PPF PF Retirement Salary Eligibility

Eligibility Tips

Clear Old Debts

Closing existing loans instantly boosts new loan eligibility.

Increase Tenure

Longer tenure = smaller EMI = higher loan amount approved.

Add Co-Applicant

Clubbing a spouse's income can double your eligibility! ✓

How it works

3 steps to know your borrowing power

Check your loan eligibility in seconds — before any bank runs a hard inquiry on your CIBIL report.

Enter your income & obligations

Set your net monthly take-home salary and the total of all existing EMIs you are currently paying — home loan, car loan, credit card, anything.

Add your CIBIL score & rate

Enter your credit score and the expected interest rate for the loan type you need. Higher CIBIL scores unlock lower rates and higher approval amounts.

See your max eligible loan

The calculator shows your maximum eligible loan amount, new EMI capacity, FOIR breakdown, and a tenure-wise eligibility comparison table.

The core concept

What is FOIR — and why it controls everything

FOIR (Fixed Obligation to Income Ratio) is the single most important metric banks use to decide how much loan you can get. Understanding it helps you plan strategically.

How your salary gets allocated — example

Monthly Take-Home

₹80,000

Existing EMIs

20%

New EMI capacity

40%

Living expenses

40%

FOIR Cap Applied

60% (salary ≥ ₹75K)

Existing EMIs

₹16,000 (20%)

New EMI capacity

₹32,000

Eligible loan @ 9% / 20 yr

≈ ₹35.5L

Banks do not let you spend your entire salary on loan repayments. They use FOIR — the percentage of your gross income that goes toward all fixed financial obligations — to set a hard cap on how much you can borrow.

The key insight: your new loan eligibility is not based on how much you earn, but on how much of your income is still free after existing obligations.

Salary below ₹50,000/month

Banks cap total EMIs at 50% of net income. After subtracting existing EMIs, your new EMI capacity is the remainder up to that 50% ceiling.

Salary above ₹75,000/month

Higher income signals better financial resilience. Banks may allow up to 60–65% FOIR, giving more room for a larger new loan EMI.

Practical example: If you earn ₹60,000/month and already pay ₹15,000 in car loan EMI, the bank will cap total EMIs at ₹30,000 (50% FOIR). Your new EMI can only be ₹15,000 — which at 8.5% over 20 years gives you an eligible home loan of approximately ₹15.5L, not ₹30L.

Credit score

How your CIBIL score affects loan eligibility

Your CIBIL score doesn't just affect your interest rate — it directly determines whether the bank will lend to you at all, and how much.

750–900

Excellent

Best rates, maximum eligibility

Banks compete for your business. You get the lowest available interest rate, highest loan amount, and fastest approvals with minimal documentation.

700–749

Good

Approval likely, slightly higher rate

Most banks will approve, but you may be offered 1–2% higher rates or a lower loan amount than you requested. Negotiation is still possible with a good employer profile.

650–699

Fair

Selective approval, higher rate

Prime banks may reject or offer significantly reduced amounts. NBFCs may approve at 18–26%. Improving your score by 50 points can save you lakhs in total interest.

Below 650

Poor

High rejection risk — improve first

Most scheduled commercial banks will reject. Focus on clearing outstanding dues, reducing credit card utilization below 30%, and avoiding new applications for 6–12 months.

What builds your CIBIL score

Payment history

35% weight

Every missed or delayed EMI payment is recorded and weighs heavily. Even one missed payment can drop your score by 50–100 points.

Credit utilization

30% weight

Using more than 30–35% of your total credit card limit is seen as credit dependency. Keeping utilization below 30% significantly improves your score.

Credit history length

15% weight

Older credit accounts with clean repayment history add to your score. Never close your oldest credit card — even if unused, it contributes to history length.

Credit mix

10% weight

A mix of secured (home, car) and unsecured (personal loan, credit card) credit is viewed positively. Relying only on one type is seen as limited credit experience.

Recent hard inquiries

10% weight

Every loan application triggers a hard inquiry that reduces your score temporarily. Multiple inquiries within 30–45 days signal credit desperation to lenders.

Action plan

How to increase your loan eligibility

If the calculator shows less than what you need, these proven strategies can meaningfully increase your eligible amount.

Clear existing small EMIs first

Foreclosing a personal loan or small consumer EMI frees up that monthly amount entirely from your FOIR calculation. Clearing a ₹10,000/month EMI can boost your home loan eligibility by ₹8–10 Lakhs at 8.5% over 20 years.

Eligibility impact: Very High

Add an earning co-applicant

Adding a spouse or parent as co-applicant allows the bank to club both incomes. If your income is ₹60K and spouse earns ₹40K, the bank may treat combined income as ₹1L — potentially doubling your eligible loan amount and reducing the interest rate offered.

Eligibility impact: Very High

Opt for a longer tenure

Extending your home loan from 15 to 20 years reduces the required monthly EMI for the same principal — which means the bank can sanction a larger loan within your FOIR limit. Use the eligibility table in the calculator to see the exact difference across tenure options.

Eligibility impact: High

Improve your CIBIL score first

Improving your score from 690 to 750 can unlock a 1.5–2% lower interest rate. On a ₹40L home loan over 20 years, that difference saves ₹8–12 Lakhs in total interest and also increases the bank's willingness to sanction a higher principal.

Eligibility impact: High

Numbers every loan applicant should know

50–60%

FOIR cap set by most Indian banks based on salary bracket

750+

CIBIL score for the best interest rates and maximum loan eligibility

5–10pts

CIBIL score drop per hard inquiry — apply only after checking eligibility

6–12 mo

Time to meaningfully improve a poor CIBIL score with consistent repayment

Salary & FOIR reference

FOIR brackets & what reduces your eligibility

Know the rules banks apply — and the common mistakes that silently reduce how much you can borrow.

FOIR by salary bracket

Monthly Salary	Max FOIR	Max EMI allowed
Below ₹25,000	40–45%	₹10,000–₹11,250
₹25,000–₹50,000	50%	₹12,500–₹25,000
₹50,000–₹75,000	55%	₹27,500–₹41,250
₹75,000–₹1,50,000	60%	₹45,000–₹90,000
Above ₹1,50,000	60–65%	₹90,000+

ℹ️ These are indicative ranges. Actual FOIR applied varies by bank, loan type, and applicant profile. The calculator uses standard 50%/60% brackets by default.

What silently reduces your loan eligibility

High existing EMI obligations

Every ₹1,000 in existing EMIs reduces your new EMI capacity by ₹1,000 — directly shrinking the principal the bank can approve. Clearing even one small loan before applying makes a measurable difference.

Low or no credit history

First-time borrowers with no credit history ("NTC" — New to Credit) are seen as unpredictable by banks. Without a CIBIL score, you may be offered only smaller amounts at higher rates, or asked to apply with a co-applicant.

Frequent job changes

Banks prefer applicants with 2+ years at the same employer, especially for home loans. Frequent job switching — even with higher income — signals income instability and can reduce the eligible loan amount or trigger additional scrutiny.

Self-employment without clean ITR

Self-employed applicants must demonstrate stable, provable income through 2–3 years of ITR. Showing artificially low income in tax returns (to reduce tax) directly reduces loan eligibility — since banks base eligibility on declared, documented income.

FAQ

Frequently asked questions

Common questions about loan eligibility, FOIR, and CIBIL scores in India.

Is this calculator accurate for home loans, personal loans, and car loans?

Yes — the FOIR-based eligibility formula is the same across loan types. The primary variable is the interest rate and tenure, which differ by loan category. Set the interest rate and tenure that matches your loan type (e.g., 8.5%/20 yrs for home loan, 13%/5 yrs for personal loan, 9%/5 yrs for car loan) to get the most accurate estimate for your purpose.

Will checking my eligibility here affect my CIBIL score?

No. This calculator does not access your CIBIL report and does not trigger any credit inquiry. You simply enter your CIBIL score manually. Only when you formally apply for a loan with a bank or lender does a "hard inquiry" occur, which can temporarily reduce your score by 5–10 points.

What counts as "existing EMIs" in the calculator?

Include all fixed monthly obligations: home loan EMI, car loan EMI, personal loan EMI, education loan EMI, and any credit card minimum payment you typically roll over. Do not include utility bills, subscriptions, or voluntary investments like SIPs — these are not counted in FOIR by banks. Insurance premium EMIs may or may not be counted depending on the lender.

How does a co-applicant improve my loan eligibility?

When you add a co-applicant, the bank calculates FOIR based on your combined net monthly income. If you earn ₹50,000 and your spouse earns ₹40,000, the bank treats total income as ₹90,000 — applying the higher FOIR bracket (60%) and calculating new EMI capacity on the combined figure. This can nearly double the eligible loan amount. The co-applicant's CIBIL score also factors in, so choose a co-applicant with a strong credit profile.

How quickly can I improve my CIBIL score?

Score improvement is gradual — expect 6–12 months for meaningful change. The fastest actions: (1) Pay all overdue EMIs and credit card bills immediately — late payments stop accumulating. (2) Reduce credit card utilization below 30%. (3) Don't apply for any new credit for at least 6 months. (4) Dispute any errors in your CIBIL report (this can have an immediate effect if errors are corrected).

What if the bank offers a lower loan than what the calculator shows?

The calculator uses standard FOIR benchmarks. Individual banks may apply stricter criteria — lower FOIR caps for certain loan types, additional age-income matrix rules, or property-specific caps for home loans. If a bank offers less than expected: (1) Ask for the reason in writing. (2) Try a different lender. (3) Apply with a co-applicant. (4) Offer to clear an existing EMI before disbursement to improve your FOIR position.

Know your number before the bank does

Check your eligibility here, improve what you can — CIBIL, existing EMIs, co-applicant — then walk into the bank knowing exactly what to expect. No surprises, no hard inquiries wasted.

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