Find out exactly how much loan you qualify for based on your monthly income and existing EMIs. Plan before you apply.
How It Works
Banks determine your loan eligibility primarily using the FOIR (Fixed Obligation to Income Ratio) method. They calculate how much of your monthly income is already committed to existing EMIs and allow new loans only up to a safe limit — typically keeping total EMIs under 50% of your net monthly income.
Higher income means higher loan eligibility. Banks consider your net take-home salary, not gross salary, for eligibility calculation.
Most banks cap total EMIs at 40-50% of net income. If you earn ₹60,000 and have ₹5,000 existing EMI, you can take new EMI up to ₹25,000.
A CIBIL score above 750 increases eligibility and may get you a higher loan amount at better interest rates.
Longer tenure increases eligible amount. Your age also matters — loans should typically be repaid before retirement age of 60.
FAQ