Estimate your maximum eligible home, car, or personal loan based on income, existing EMIs, FOIR and tenure. Indian lender-aware with realistic EMI ratios.
Who Uses Loan Eligibility Calculator
Home buyers finding out how much a bank is likely to sanction on their salary before they start looking at property. Applicants checking how an existing car or personal loan EMI eats into what they can still borrow. Couples seeing how much a co-applicant's income adds to the limit. Anyone deciding between a longer tenure and a bigger down payment to bring the EMI inside what a lender will accept.
Loan Eligibility Calculator Features
- Instant Eligibility: Calculate maximum loan amount based on income, expenses, and existing EMIs
- 4 Loan Types: Home loan, car loan, personal loan, and education loan presets
- Bank Rate Links: Links to current rates on the SBI, HDFC, ICICI, PNB, Axis and BOB sites
- EMI Estimate: See estimated monthly EMI and total interest payable
How to Use Loan Eligibility Calculator
Calculate loan eligibility in three steps
- Enter Income: Enter monthly income, expenses, and existing EMIs
- Choose Loan Type: Select home, car, personal, or education loan
- See Eligibility: View maximum loan amount, EMI, and total interest
Frequently Asked Questions
How is loan eligibility calculated?
Banks use FOIR (Fixed Obligation to Income Ratio) - typically 40-50% of your net income can go towards all EMIs. We calculate the maximum loan where your new EMI + existing EMIs stay within this limit.
What is FOIR?
FOIR (Fixed Obligation to Income Ratio) is the percentage of your income that can go towards loan repayments. For home loans it's typically 50%, personal loans 45%.
Does credit score affect eligibility?
Yes, in reality. A higher CIBIL score (750+) gets you better rates and higher loan amounts. This calculator uses standard rates - your actual offer may vary based on credit score.
Where do I find current bank rates?
Rates change often, so the tool links to each bank's official site. Set the rate slider to the rate on your offer.
Can I use this for business loans?
This calculator is designed for personal loans (home, car, personal, education). Business loan eligibility depends on revenue, profitability, and collateral - different criteria.
Is this calculator free?
Yes, calculate loan eligibility for all 4 loan types (home, car, personal, education) with no signup. FOIR-based calculation, 6 bank rate comparisons, and EMI estimates are all free.
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