Loan Eligibility Calculator
Check how much Home Loan or Personal Loan you can borrow based on your salary and existing EMIs.
Your Financial Profile
₹50,000
8.5%
20 Years
Eligibility Report
Maximum Eligible Loan Amount
₹0
Max Afforable EMI₹0
Assumption: Bank considers 50% of your income as repayment capacity.
Understanding Loan Eligibility
Before applying for a loan, it’s crucial to know how much a bank is likely to lend you. Rejections can hurt your credit score.
Key Factors
- Net Monthly Income: Higher income = Higher loan amount.
- Current Obligations: Existing EMIs reduce your eligibility.
- Age: Younger applicants can get longer tenures, increasing eligibility.
- Credit Score: A score above 750 is ideal for approval and better rates.
Frequently Asked Questions
How do banks calculate loan eligibility?
Banks use the FOIR (Fixed Obligation to Income Ratio) method. Usually, your total EMIs (including the new loan) should not exceed 40-50% of your net monthly income.
How can I increase my loan eligibility?
You can increase eligibility by adding a co-applicant (spouse/parent), clearing existing loans, or opting for a longer tenure.