Free Loan Eligibility Calculator
Get your maximum eligible loan amount, estimated EMI, and total interest payable. Works for home loan, personal loan, and car loan.
Your Loan Eligibility
Estimated Monthly EMI
Total Interest Payable
This calculator provides estimates for educational purposes only. Contact the bank for exact details.
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How Banks Decide Your Loan Eligibility
Banks and NBFCs use a metric called FOIR — Fixed Obligation to Income Ratio — to decide how much loan to approve. FOIR is the percentage of your monthly income that goes towards existing EMIs plus the new loan EMI you are applying for. Most lenders cap this at 40–55% of your net monthly income.
Here is how it works in practice: If your net monthly income is ₹60,000 and you already pay ₹10,000 in EMIs, the lender sees ₹50,000 as free income. At 50% FOIR, you can afford a maximum new EMI of ₹25,000. Based on your interest rate and tenure, the calculator then works backwards to find the loan amount that generates exactly that EMI. CIBIL score, employment type, and age also affect final approval — but FOIR is the core calculation.
Loan Eligibility by Salary — Home Loan & Personal Loan
Assumptions: No existing EMIs. Home loan at 8.75% for 20 years. Personal loan at 12% for 5 years. FOIR 50%.
| Monthly Salary (Net) | Max Eligible Home Loan | Home Loan EMI | Max Personal Loan | Personal Loan EMI |
| ₹25,000 | ₹13.0 lakh | ₹12,500 | ₹5.5 lakh | ₹12,500 |
| ₹30,000 | ₹15.6 lakh | ₹15,000 | ₹6.7 lakh | ₹15,000 |
| ₹40,000 | ₹20.8 lakh | ₹20,000 | ₹8.9 lakh | ₹20,000 |
| ₹50,000 | ₹26.0 lakh | ₹25,000 | ₹11.1 lakh | ₹25,000 |
| ₹75,000 | ₹39.0 lakh | ₹37,500 | ₹16.7 lakh | ₹37,500 |
| ₹1,00,000 | ₹52.0 lakh | ₹50,000 | ₹22.2 lakh | ₹50,000 |
| ₹1,50,000 | ₹78.0 lakh | ₹75,000 | ₹33.4 lakh | ₹75,000 |
| ₹2,00,000 | ₹1.04 crore | ₹1,00,000 | ₹44.5 lakh | ₹1,00,000 |
These are estimates with no existing EMIs. Each ₹10,000 of existing EMI reduces eligibility by approximately ₹8–10 lakh for a home loan and ₹3–4 lakh for a personal loan. Enter your actual figures in the calculator above for a personalised result.
How Interest Rate and Tenure Affect Your Eligible Loan Amount
Monthly salary ₹50,000, no existing EMIs, FOIR 50% — maximum EMI available = ₹25,000.
| Loan Type | Interest Rate | Tenure | Max Eligible Loan | Total Interest Paid |
| Home Loan | 8.50% | 20 years | ₹26.6 lakh | ₹37.5 lakh |
| Home Loan | 8.75% | 20 years | ₹26.0 lakh | ₹38.9 lakh |
| Home Loan | 9.25% | 20 years | ₹24.8 lakh | ₹41.8 lakh |
| Home Loan | 8.75% | 15 years | ₹23.9 lakh | ₹26.1 lakh |
| Home Loan | 8.75% | 25 years | ₹27.6 lakh | ₹52.5 lakh |
| Personal Loan | 11.00% | 5 years | ₹11.6 lakh | ₹3.4 lakh |
| Personal Loan | 12.00% | 5 years | ₹11.1 lakh | ₹3.8 lakh |
| Personal Loan | 14.00% | 5 years | ₹10.3 lakh | ₹4.7 lakh |
Key insight: A longer tenure increases your eligible loan amount (lower EMI per lakh) but you pay significantly more interest overall. A 20-year home loan at 8.75% costs ₹38.9 lakh in interest on ₹26 lakh — you pay back almost 2.5x the original loan. Shorter tenure = less interest, same eligibility roughly maintained if income supports it.
How to Use This Calculator
- Enter Monthly Income — use your net take-home salary, not CTC or gross
- Enter Other Monthly EMIs — total of all existing loan EMIs currently running (home, car, personal, credit card minimum payments)
- Enter Interest Rate — check your bank’s current rate. Home loan: 8.5–9.5%, personal loan: 10.5–14%, car loan: 7.5–9%
- Set Loan Tenure — home loans go up to 30 years, personal loans up to 5–7 years, car loans up to 7 years
- Results show instantly — Eligible Loan Amount, Estimated Monthly EMI, and Total Interest Payable
Tip: To check home loan eligibility for a joint application (with spouse), add both net incomes together as your monthly income input. Banks consider combined household income for joint home loans.
How to Increase Your Loan Eligibility
If the calculator shows a lower amount than you need, here are concrete steps that actually work — ranked by how quickly they take effect:
| Action | Impact | Time to Effect |
| Close small running loans or credit card outstanding | Reduces existing FOIR — directly increases available EMI capacity | Immediate |
| Add co-applicant (spouse/parent with income) | Banks add both incomes — can increase eligibility by 50–100% | Immediate |
| Choose longer tenure (e.g. 25yr instead of 20yr) | Lowers required EMI per lakh — increases eligible amount by 8–12% | Immediate |
| Improve CIBIL score above 750 | Unlocks lower interest rates — improves eligibility indirectly | 3–6 months |
| Increase income (salary hike, additional income) | Direct and most powerful lever — every ₹10K income = ₹8–10L more home loan eligibility | Varies |
| Negotiate lower interest rate with bank | Each 0.5% rate drop increases eligible amount by ~₹1.5–2 lakh | At time of application |
The fastest and most effective combination: clear one existing EMI + add co-applicant. This can increase eligibility by 60–80% without any income change.