Finance ToolsFree92.1k uses this week

Loan Eligibility Calculator

Find out how much home loan or personal loan you are eligible for based on your income and expenses.

Monthly Income (₹)

Monthly Expenses (₹)

Interest Rate (% per annum)

Loan Tenure (years)

How eligibility is calculated

• Banks typically allow EMI up to 50% of net monthly income (FOIR rule)

• Higher income or longer tenure increases eligible loan amount

• Existing EMIs / obligations reduce eligibility further

• Actual eligibility may vary by lender, credit score, and employment type

How it works

Enter your monthly income, monthly expenses, expected interest rate, and preferred loan tenure. The calculator applies the standard FOIR rule (banks allow EMI up to 50% of net income) and the EMI formula to compute the maximum loan amount you qualify for.

Why use this tool?

Knowing your loan eligibility before visiting a bank saves time and prevents surprises. This free home loan and personal loan eligibility calculator gives you an instant estimate based on the same criteria banks use — income, expenses, rate, and tenure.

Frequently Asked Questions

How is loan eligibility calculated?

Banks generally allow an EMI of up to 50% of your net monthly income (called FOIR — Fixed Obligation to Income Ratio). This calculator uses that standard rule.

Does my credit score affect eligibility?

Yes. A higher CIBIL score (750+) can get you better rates and higher eligibility. This calculator estimates based on income alone.

What is FOIR?

FOIR (Fixed Obligation to Income Ratio) is the share of your income that goes to EMIs. Most banks cap this at 40–50% of gross monthly income.

Can I use this for home loans and personal loans?

Yes, the formula applies to both. Home loans typically have lower rates and longer tenures, resulting in higher eligibility.

Is this free?

Yes, completely free with no sign-up required.

Rate this tool:

Was this tool helpful?

Back to all tools

People Also Used

Loan EMI Calculator

Calculate monthly EMI payments for loans and mortgages.

SIP Calculator

Calculate the maturity value of your monthly SIP investments over time.

Compound Interest Calculator

See how your investments grow with the power of compounding.