Loan Eligibility Checker
Find out how much loan you can get — enter your income, existing EMIs, rate and tenure to see your maximum affordable EMI and eligible loan amount instantly.
- Free — no sign-up
- Instant, on-screen results
- Built by our CA · CS team
- Rules cited on the page
Fill in the details — the answer on the right updates as you go.
How your eligibility is worked out
Get matched to the right lender & best rate
Share your details — our advisors help you maximise eligibility and compare offers.
Disclaimer: Indicative estimate only. Actual loan eligibility depends on credit score, employer category, LTV cap, age, property value and each lender's policy. TaxClue does not lend — final sanction rests with the lender.
What is FOIR and how it decides your loan
FOIR — the Fixed Obligation to Income Ratio — is the single biggest number lenders use to size your loan. It is the share of your net monthly income that can go toward all EMIs put together. If your existing EMIs already eat into that share, your headroom for a new loan shrinks. The looser the FOIR cap, the larger the loan you qualify for.
FOIR reference by loan type
These are indicative FOIR caps most Indian banks and NBFCs apply. High earners are often allowed a higher FOIR (up to 65–70%) because their surplus after EMIs is still comfortable; low earners are held to the lower end.
| Home loan | 50% (up to 60%) |
| Car / auto loan | 45% |
| Personal loan | 40% |
| Business / LAP | 50–55% |
| Net monthly income > ₹1L | Higher cap |
| Credit score 750+ | Higher cap |
| Salaried, top employer | Higher cap |
| Co-applicant income | Adds to income |
How the calculation works
The checker turns your available EMI capacity back into a loan principal by reversing the standard EMI formula. Here is the exact sequence it runs live as you type:
FOIR cap
Pick the FOIR% for your loan type (Home 50%, Car 45%, Personal 40%) and multiply it by your net monthly income.
Available EMI
Subtract your existing EMIs from that cap. Available EMI = income × FOIR − existing EMIs (never below zero).
Reverse the EMI
Convert available EMI to principal: P = EMI × ((1+r)ⁿ − 1) ÷ (r × (1+r)ⁿ), with r = rate ÷ 1200 and n = years × 12.
Eligible loan
The result is the maximum loan amount whose EMI fits your remaining capacity at the chosen rate and tenure.
Key terms explained
FOIR
The Fixed Obligation to Income Ratio — the maximum portion of net monthly income a lender lets go toward all EMIs combined. A 50% FOIR on ₹80,000 income means total EMIs can't exceed ₹40,000.
Net monthly income
Your take-home pay after income tax, PF and professional tax — not gross salary. Lenders assess EMI affordability against this figure, sometimes adding steady rental or bonus income.
Credit score impact
A score of 750+ can raise your allowed FOIR and cut your interest rate, both of which lift eligibility. A weak score can shrink the loan or trigger rejection regardless of income.
LTV cap (home & car)
Loan-to-Value limits the loan to a share of the asset price — typically 75–90% for homes, up to 85% for cars. Your final loan is the lower of the FOIR-based figure and the LTV cap.
Questions people ask
Short answers on Loan Eligibility Checker. Tap a question to open it.
01How do lenders decide how much I can borrow?
Mostly by the fixed obligation to income ratio — total EMIs including the new loan must stay within roughly 50% to 60% of net monthly income. The eligible loan is then back-calculated from the available EMI at the offered rate and tenure.
02What else affects eligibility besides income?
Credit score and repayment history, employment stability and employer category, age, which limits the maximum tenure, and for secured loans the property value through the loan-to-value cap.
03Does adding a co-applicant increase eligibility?
Yes. A co-applicant's income is clubbed for the FOIR test, subject to their own obligations, which is the usual way a couple qualifies for a larger home loan. The co-applicant is equally liable for repayment.
04Can rental or variable income be counted?
Lenders typically count a discounted portion of rental income supported by an agreement and bank credits, and average variable pay over two or three years. Cash income not visible in the bank statement is generally ignored.
05Is the sanctioned amount always the maximum I should take?
No. Eligibility is what the lender will risk, not what you can comfortably repay. Leave headroom for interest rate increases, and keep an emergency fund intact after the down payment.
More Finance & Registration tools
Picked from the same shelf. Every tool is free and runs in your browser.
Disclaimer: This tool gives indicative results for general guidance only and is not professional advice. Please verify with a qualified CA before acting on the numbers.