Loan Eligibility Calculator IN
Find out how much you could borrow based on your income, existing repayments, the interest rate and the term.
How it works
Enter your monthly net income, any existing loan or card repayments, the interest rate, the term, and the maximum share of income a lender will allow for repayments. The calculator finds the largest repayment you can afford and converts it into a maximum loan amount.
Percentage guides & tutorials
Frequently asked questions
How much loan can I get on my salary?
Lenders typically allow total repayments of about 40–50% of your monthly income. Subtract existing repayments, then convert the remaining affordable amount into a loan using the rate and term — which is exactly what this calculator does.
What is FOIR or debt-burden ratio?
It is the share of your monthly income that goes to all loan and card repayments. Lenders cap it — often around 40–50% — to make sure new borrowing stays affordable.
Do existing EMIs reduce my eligibility?
Yes. Existing repayments are subtracted from the affordable limit first, so the more you already repay each month, the smaller the new loan you qualify for.
Does a longer term mean I can borrow more?
Yes — a longer term lowers each monthly repayment, so the same affordable amount supports a larger loan. The trade-off is more total interest over the life of the loan.
How can I increase my loan eligibility?
Reduce existing debts, improve your credit score, add a co-applicant, or choose a longer term. A lower interest rate also increases the amount a given repayment can support.
Is this the same as loan approval?
No. This is an affordability estimate. Final approval also depends on your credit history, employment, documents and the individual lender’s policy.
Loan Eligibility Calculator
Before approving a loan, lenders check how much of your income is already committed and how much room is left for a new repayment. This calculator works that out and turns the affordable repayment into a maximum loan amount.
How loan eligibility is calculated
First, the affordable repayment: max repayment = income × limit% − existing repayments. Lenders usually allow total repayments of around 40–50% of monthly income (often called FOIR or the debt-burden ratio). That repayment is then converted into a loan amount using the standard amortisation formula in reverse.
Worked example
On a monthly income of 20,000 with 2,000 of existing repayments and a 50% limit, the affordable repayment is 8,000 a month. At 9% over 5 years that supports a loan of about 385,000.
What affects how much you can borrow
- Income — higher income raises the affordable repayment.
- Existing debts — current EMIs and card balances reduce it.
- Interest rate & term — a lower rate or longer term increases the loan a given repayment can support.
- Credit score — affects approval and the rate you are offered.
How to improve your eligibility
Clear or consolidate existing debts, choose a longer term (accepting more total interest), apply with a co-borrower, or improve your credit score before applying.
Results are estimates for general guidance in India and may not reflect the latest local rates, fees or rules. Check official sources before making decisions.