Browse All Tools
HomeCalculatorsPDF ToolsDocument GeneratorsBlogAboutContact
Home/Calculators/Loan Eligibility Calculator

Loan Eligibility Calculator

Check how much loan you qualify for based on your income

Last Updated: July 2026
Your gross monthly income
Total current monthly EMIs
Expected loan interest rate
Desired loan tenure
Maximum Loan Eligible
—
Based on 50% FOIR
Maximum EMI
—
50% of monthly income
FOIR Ratio
—
Fixed Obligation to Income

Yearly Summary

YearPrincipalInterestTotal PaidBalance

Monthly Amortization Schedule

MonthEMIPrincipalInterestBalance

Advertisement

What Is a Loan Eligibility Calculator?

A Loan Eligibility Calculator determines the maximum loan amount you qualify for based on your income, existing EMIs, and the lender's FOIR (Fixed Obligation to Income Ratio) norms. Most banks cap EMI at 40-50% of monthly income.

Use this calculator before applying for any loan to understand your borrowing capacity. It prevents rejection due to over-commitment and helps you set realistic expectations.

Frequently Asked Questions

What is FOIR?
FOIR (Fixed Obligation to Income Ratio) is the percentage of your income that goes toward EMIs. Banks prefer FOIR below 50%. If you earn ₹50,000, your total EMIs should not exceed ₹25,000.
How is loan eligibility calculated?
Banks calculate max EMI as 40-50% of net income, subtract existing EMIs, then use the EMI formula to determine the maximum loan amount based on rate and tenure.
Does age affect loan eligibility?
Yes. Banks prefer that loans mature before retirement age (58-60). Younger applicants get longer tenures and higher eligibility. Some banks reduce eligibility by 10-20% for applicants above 45.
How does credit score affect eligibility?
A 750+ credit score gets the best rates and full eligibility. 700-749 may get slightly higher rates. Below 700, banks may reduce eligibility or reject the application. Always check your CIBIL score before applying.

Related Calculators

Home

Home Loan Calculator

Calculate housing loan EMI.

Affordability

Loan Affordability Calculator

Check what you can afford.

EMI

EMI Calculator

Generic EMI calculator.

Salary

In-Hand Salary Calculator

Calculate take-home salary.

Found This Useful?

Check your loan eligibility before applying.

Try Another Calculator