Loan Calculators

Loan Eligibility Calculator

Find out the maximum loan amount you can get based on your monthly income and existing obligations.

About the calculator

What is the Loan Eligibility Calculator?

The Loan Eligibility Calculator is a free online tool that helps you make informed decisions about your money. Enter your numbers and the calculator gives you instant, accurate results.

Use it to compare scenarios, plan goals and validate assumptions — all without signing up.

Formula used
  • Affordable EMI
    EMI = Income × FOIR% − Existing EMIs
  • Eligible Loan
    L = EMI × ((1+r)ⁿ − 1) / (r × (1+r)ⁿ)

Why use the Loan Eligibility Calculator?

Financial planning works only when it's specific. The Loan Eligibility Calculator converts assumptions into concrete numbers — so you can choose between scenarios with confidence rather than guesswork.

How it helps

By tweaking inputs and instantly seeing the impact, you build intuition for how the underlying variables interact. This is far more useful than abstract formulas alone.

What to remember

Calculators show possible outcomes based on the assumptions you provide. Real-world results may vary; review your plan periodically and adjust as your income, goals and circumstances evolve.

Frequently Asked Questions

Fixed Obligation to Income Ratio — usually capped at 45–55%.
Increase income, reduce existing EMIs, choose longer tenure, or add a co-borrower.
Yes — higher scores get better rates and easier approval.
Some lenders consider average of 12 months; others only fixed components.
Combining incomes increases eligibility significantly.
Lenders use net taxable income from ITRs; eligibility may be lower than salaried.

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