Loan Eligibility Calculator

Banks primarily use the Fixed Obligation to Income Ratio (FOIR) — your total EMIs (including the proposed loan) should not exceed 40–50% of your net monthly income. They also look at credit score (750+ preferred), age, employment stability, and existing liabilities. Some banks also use the Multiplier Method: eligible loan = net monthly income × 60 (for home loans).

FOIR = (Total Monthly EMIs ÷ Net Monthly Income) × 100. Most banks cap FOIR at 40–50%. If your income is ₹1,00,000 and you already pay ₹20,000 in EMIs, you have ₹20,000–₹30,000 remaining for new EMIs (40–50% FOIR). This limits the new loan amount you can get.

750 and above: Best rates, highest approval probability. 700–749: Good, most lenders approve but rates may be slightly higher. 650–699: Fair, some lenders may approve with conditions. Below 650: Very difficult to get approval; work on credit score first. CIBIL score is the most widely used in India.

Approximate home loan eligibility: Monthly income × 60 (at ~8.5% interest, 20-year tenure) is a common thumb rule. For ₹1,00,000/month income with no existing EMIs, you may be eligible for ₹55–65 lakhs. Our calculator uses actual FOIR-based EMI math for accurate results.

Yes: (1) Add a co-applicant (spouse/parent income counted). (2) Clear existing loans/EMIs to reduce FOIR. (3) Improve CIBIL score. (4) Opt for longer tenure — lower EMI allows higher loan. (5) Increase down payment (reduces loan amount needed). (6) Include bonus/rental income (some banks consider it).

Yes, significantly. Longer tenure = lower EMI = more room under FOIR = higher eligible loan amount. Example on ₹80,000 income at 9%: 10-year tenure — eligible ~₹25L. 20-year tenure — eligible ~₹37L. 30-year tenure — eligible ~₹45L. However, longer tenure means more total interest paid.

Most banks require the loan to be fully repaid before the borrower turns 60–65 (salaried) or 70 (self-employed). So if you're 45 and the bank's limit is 60, you'd only get a 15-year tenure. This reduces eligibility. Starting earlier maximises both tenure and eligibility.

Banks combine the net incomes of all co-applicants (usually immediate family). The combined FOIR is calculated on combined income. If you earn ₹80,000 and your spouse earns ₹60,000, combined income is ₹1,40,000. At 50% FOIR, you can service EMIs up to ₹70,000/month — almost double the individual eligibility.

Yes. Salaried government employees get the most favorable terms (lower rate, higher multiplier). Private sector salaried are next. Self-employed professionals (doctors, CAs) get good terms but need 2–3 years of ITR. Self-employed businesspersons face more scrutiny. Gig workers or freelancers often struggle without ITR proof.

Common documents: Identity proof (Aadhaar/PAN), Address proof, 3–6 months salary slips, 6–12 months bank statements, Form 16/ITR (last 2 years), Employment letter, Property documents (for home loan). Processing fee: 0.25–1% of loan amount. Some banks waive it during offers.