Loan Eligibility Calculator
Estimate your potential loan eligibility based on income and repayment capacity.
Loans Covered by This Calculator
- 🏠 Home Loan
- 💳 Personal Loan
- 🚗 Car / Auto Loan
- 🎓 Education Loan
- 🏢 Business Loan
- This calculator provides an estimated loan eligibility amount based on the information entered. Actual eligibility and loan approval may vary by lender, credit profile, income, existing obligations, loan type and applicable policies.
How to Use the Loan Eligibility Calculator
Select the loan type, enter your monthly income and existing EMIs, then provide the expected interest rate and loan tenure. The calculator uses the selected FOIR to estimate the EMI you may be able to afford and the corresponding loan amount.
What Is Loan Eligibility?
Loan eligibility is the approximate loan amount a lender may consider based on factors such as income, existing financial obligations, interest rate, loan tenure and repayment capacity. The final eligible amount is determined by the lender after reviewing the applicant’s complete financial and credit profile.
Factors That Affect Loan Eligibility
Loan eligibility can be influenced by several factors, including monthly income, existing EMIs, credit history, age, employment or business stability, loan tenure, interest rate and the lender’s eligibility criteria. A stronger financial profile may improve the amount a lender is willing to consider.
How Loan Eligibility Is Calculated
The calculator first estimates the maximum EMI you may be able to afford using the selected FOIR and your monthly income. Existing EMIs are then deducted to determine the available EMI for the new loan. Based on the available EMI, interest rate and loan tenure, the calculator estimates the potential loan amount.
Loan Eligibility Example
For example, if your monthly income is ₹1,00,000, your existing EMI is ₹20,000, and the selected FOIR is 50%, the calculator estimates the repayment capacity available for a new loan. The estimated loan amount will then depend on the interest rate and tenure entered.
Important Note
This calculator provides an estimated loan eligibility amount for educational and financial planning purposes only. Actual eligibility, interest rate and loan approval may vary by lender and depend on factors such as credit profile, income, existing obligations, age, documentation and applicable lending policies.