Loan Eligibility Calculator
Estimate the loan your income can support.
Optional
Applies the RBI loan-to-value cap. Leave 0 for other loans.
Your result
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Enter your numbers to see the result.
This loan eligibility calculator estimates how much you can borrow based on your monthly income, the EMIs you already pay and the share of income lenders allow for EMIs (FOIR). For home loans you can add the property value to apply the RBI loan-to-value cap. It gives a realistic starting figure before you approach a bank.
What is a Loan Eligibility Calculator?
Loan eligibility is the maximum amount a lender is willing to lend you. Banks and NBFCs mainly look at how much EMI you can comfortably pay. They measure this with FOIR, the Fixed Obligation to Income Ratio: the share of your monthly income that can go towards all EMIs, including the new one.
A loan eligibility calculator turns your income and existing EMIs into that maximum EMI, and then into a loan amount using the rate and tenure. For home loans, the RBI also limits how much of the property value can be financed, known as the loan-to-value (LTV) ratio.
How does the Loan Eligibility Calculator work?
First the calculator multiplies your net income by the FOIR and subtracts the EMIs you already pay. What is left is the most you can pay as a new EMI.
It then works backwards from that EMI to a loan amount using the present value of an annuity. If you enter a property value, it applies the RBI LTV caps for housing loans and takes the lower of the two figures.
How to use the Loan Eligibility Calculator step by step
- Enter your net monthly income (take-home pay, or average monthly profit if self-employed).
- Enter all existing EMIs, including credit card EMIs.
- Choose a FOIR: 50% is common; higher incomes may get 55–60%.
- Enter the expected interest rate and tenure.
- For a home loan, add the property value to apply the LTV cap.
- Read your estimated eligibility and the matching EMI.
Loan Eligibility Calculator example with real numbers
You take home ₹75,000 a month, already pay a ₹5,000 EMI on a two-wheeler loan, and want a 20-year home loan at 8.5%. The lender uses a FOIR of 50%.
| Example input | Value |
|---|---|
| Net monthly income | ₹75,000 |
| Existing EMIs per month | ₹5,000 |
| Share of income lenders allow for EMIs (FOIR) | 50% |
| Interest rate per year | 8.5% |
| Loan tenure | 20 years |
| Property value (home loans, optional) | ₹0 |
| Example output | Value |
|---|---|
| Estimated loan eligibility | ₹37,45,002 |
| Maximum EMI you can afford | ₹32,500 |
| Loan based on income | ₹37,45,002 |
| EMI on eligible loan | ₹32,500 |
| EMI per ₹1 lakh borrowed | ₹868 |
Half your income is ₹37,500; after the existing EMI, ₹32,500 is left for the new loan. The loan eligibility calculator turns that into a loan of about ₹37,45,002. Closing the two-wheeler loan first would raise this noticeably.
Key features of this Loan Eligibility Calculator
- FOIR choice from 40% to 60%
- Existing EMIs taken into account
- RBI LTV cap for home loans
- EMI per ₹1 lakh to compare tenures
- Clear message when existing EMIs block a new loan
Who should use the Loan Eligibility Calculator?
Who is this Loan Eligibility Calculator for?
- Salaried people planning a home or car purchase
- Self-employed borrowers estimating their limit
- Couples deciding whether to add a co-applicant
- Anyone checking whether to close a small loan before applying
Practical use cases
- Finding how much home loan ₹75,000 a month supports
- Seeing the effect of closing a credit card EMI
- Comparing 20-year and 30-year tenures
- Working out the down payment you need
Key benefits
- Realistic budgeting: shop for property within your limit.
- Fewer rejections: apply for an amount you are likely to get.
- Better planning: see how co-applicants or closing loans help.
- Transparent: every step of the estimate is visible.
Tips for better results
- Add a co-applicant’s income to increase eligibility; both incomes count towards FOIR.
- Close small loans or credit card EMIs before applying.
- A longer tenure raises eligibility but also total interest.
- Keep your credit score high; it affects both approval and rate. You can check it free once a year from credit bureaus.
Common mistakes to avoid
- Using gross salary instead of net take-home pay.
- Leaving out credit card EMIs or BNPL instalments.
- Assuming the bank will lend 100% of the property price.
- Borrowing the full eligible amount without leaving room for savings.
Limitations of this Loan Eligibility Calculator
- Lenders use their own FOIR rules, income definitions and age limits.
- It does not check credit score, which can change the rate or the decision.
- LTV caps apply to housing loans; other loans have their own limits.
Loan Eligibility Calculator vs other ways to calculate
| Method | Uses existing EMIs | LTV cap | Best for |
|---|---|---|---|
| Qorico loan eligibility calculator | Yes | Yes | Early planning |
| Bank eligibility tool | Yes | Sometimes | One lender’s rules |
| Pre-approved offer | Yes | Yes | Final amount from a lender |
| Rule of thumb (60× salary) | No | No | Very rough guess |
A bank’s pre-approval or in-principle sanction is the most reliable figure because it uses your full credit report. Use this calculator first to know what to expect, then compare offers with the EMI calculator.
Privacy and data handling
This Loan Eligibility Calculator runs entirely in your browser. The numbers you type are not sent to Qorico or stored on any server, and nothing is saved after you close the page. The Copy and Download buttons create the result on your own device. If the page has analytics turned on, it may count that a calculation happened, but it does not record the values you entered.
Loan Eligibility Calculator FAQs
How much loan can I get on my salary?
It depends on your take-home pay, existing EMIs, the lender’s FOIR, the rate and the tenure. With ₹75,000 a month, no other EMIs, 50% FOIR, 8.5% and 20 years, the estimate is about ₹43 lakh.
What is FOIR?
FOIR (Fixed Obligation to Income Ratio) is the share of your monthly income that can go towards EMIs. Most lenders use 40–60% depending on income and profile.
Does an existing EMI reduce loan eligibility?
Yes. Every rupee of existing EMI reduces the EMI available for a new loan, which lowers the amount you can borrow.
Does my CIBIL score affect loan eligibility?
Yes. A low score can lead to rejection or a higher rate, and a higher rate reduces how much you can borrow for the same EMI.
How much of a property's price can a home loan cover?
RBI caps housing loans at 90% of the property value up to ₹30 lakh, 80% between ₹30 lakh and ₹75 lakh, and 75% above ₹75 lakh.
Can a co-applicant increase my loan eligibility?
Yes. Lenders add a co-applicant’s income, which raises the EMI you can afford and therefore the loan amount.
Related tools
Sources and references
We checked the method and the current figures used in this Loan Eligibility Calculator against these official and primary sources:
Written and reviewed by the Qorico Team
