Loan Eligibility Calculator

See the loan a lender may sanction on your income, once the instalments you already pay are taken out.

Loan you may get

₹39,60,572.12

that is about 39.61 lakh

EMI you can afford₹35,000.00
Total interest on that loan₹44,39,427.88

Works out in your browser. Nothing you type is sent anywhere.

In short: Loan Eligibility Calculator

On a net income of ₹80,000 with ₹5,000 of EMIs already running, a lender allowing 50% of income for instalments leaves ₹35,000.00 a month. At 8.75% over 240 months that supports a loan of about ₹39,60,572.12. Raising the tenure raises the limit, and the interest with it.

What is Loan Eligibility?

Loan eligibility is the largest loan a lender will offer you, worked back from the share of your monthly income it allows you to spend on instalments.

How is Loan Eligibility calculated?

P = \frac{EMI \times ({(1 + i)}^{n} - 1)}{i \times {(1 + i)}^{n}}

First work out the instalment you can carry: take the share of income the lender allows and subtract the instalments you already pay. Then run the EMI rule backwards, multiplying that instalment by one plus the monthly rate raised to the number of months, less one, and dividing by the monthly rate times the same power.

Pthe loan amount the instalment can support
EMIthe instalment your income leaves room for
ithe interest rate for one month, as a decimal
nthe number of monthly instalments

A worked example

Inputs and results for the worked example
Result
Net monthly income	₹80,000
EMIs you already pay	₹5,000
Share of income allowed for EMIs (%)	50%
Interest rate (% a year)	8.75%
Tenure (months)	240 months
Loan you may get	₹39,60,572.12
EMI you can afford	₹35,000.00
Total interest on that loan	₹44,39,427.88

Every figure in this table is produced by the same calculation the tool above runs.

How to use this loan eligibility calculator

Enter your net monthly income, the figure that reaches your account.
Add up the EMIs you already pay and enter the total.
Set the share of income the lender allows for instalments, which lenders call FOIR.
Enter the rate and tenure you expect, and read the loan that supports.

Questions people ask

What is FOIR and what value should I use?

FOIR is the fixed obligation to income ratio, the share of your income a lender lets you commit to instalments. Many lenders work in a band between a third and a half of net income, and go higher for a large or very stable income. Ask your lender what they apply rather than guessing.

Why is the figure here higher than what the bank offered?

A lender also looks at the value of the property, your credit score, how long you have been employed, and its own cap on the share of the value it will fund. Any one of those can bind before your income does. This tool answers only the income question.

Do I have to include my credit card dues?

Include the minimum payment if you carry a balance from month to month, because the lender will. A card you clear in full each month is usually treated differently. Your lender's own policy decides, so ask.

Does a co-applicant increase the amount?

Usually yes, because the lender can count a second income against the same instalment. Adding an earning spouse or parent is the most common way to raise a sanction. Enter the combined net income here to see the effect.

Accuracy and sources

Estimate only. Not financial or tax advice.

Checked by the Daytoolz team on 16 October 2026. How we check our tools.

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