Loan Eligibility Calculator
Estimate affordable EMI and eligible loan amount.
Use monthly income, current obligations, interest rate, tenure, and FOIR to estimate an affordable EMI and reverse-calculate a possible loan amount.
Result summary
Enter income details.
Affordable EMI and estimated eligible amount appear after calculation.
Estimated eligible loan amount
Pink = existing obligations, teal = additional affordable EMI under selected FOIR.
How eligibility is estimated
The calculator first estimates maximum allowed obligations using FOIR, then subtracts existing monthly obligations to estimate affordable EMI.
Reverse EMI formula
Eligible amount reverses the EMI formula: P = EMI × ((1 + r)^n - 1) / (r × (1 + r)^n). Zero interest uses EMI × number of payments.
Limitations
Actual lender eligibility may depend on credit score, employment, age, collateral, existing debt, documentation, fees, and regional policy.
Frequently asked questions
Loan affordability answers stay neutral and non-judgemental.
What is FOIR?
FOIR is fixed obligation to income ratio. It estimates how much of gross monthly income may go toward total obligations.
Is this loan approval?
No. It is an affordability estimate, not a lender approval or financial advice.
What if obligations are too high?
The calculator shows zero eligible amount when selected FOIR leaves no affordable EMI after existing obligations.
Can lenders use different rules?
Yes. Credit score, employment, age, collateral, fees, and local rules can change actual eligibility.
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