How to use the Loan Eligibility Calculator
- Enter your take-home monthly income.
- Enter any EMIs you already pay.
- Enter the interest rate and tenure.
- See the maximum EMI and loan amount.
How banks calculate loan eligibility
Banks use FOIR (fixed obligation to income ratio): your total EMIs, including the new loan, should not exceed 40-60% of your net income. Max EMI = income × FOIR − existing EMIs. The loan amount is the present value of that EMI over your tenure at the bank's rate.
Your age, job stability, employer category and CIBIL score also matter. For home loans, banks typically fund up to 75-90% of the property value.
Frequently asked questions
How much home loan can I get on ₹50,000 salary?
At 8.5% for 20 years with 50% FOIR and no other EMIs, about ₹28.8 lakh. Use the calculator for your exact numbers.
Does CIBIL score affect loan eligibility?
Yes. A score above 750 improves approval chances and gets better rates. Below 650, many banks reject or charge more.
These tools give estimates for general guidance and are not financial or tax advice. Rates and rules can change; check official sources before making decisions.