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Loan Eligibility Calculator: How Much Loan Can You Get?

Estimate your eligible loan amount using your salary, existing EMIs, age, loan type, tenure and credit score. See your available EMI capacity and an estimated loan range.

What this loan eligibility calculator checks

Loan eligibility is mainly about repayment capacity. Your salary matters, but so do your existing EMIs, the loan type, tenure, age and credit score. Enter the details below to see how those inputs affect the amount this calculator estimates you may be able to borrow.

SalaryYour take-home monthly income
Existing EMIsCurrent monthly loan obligations
Loan detailsType and preferred tenure
Credit profileAge and credit score range

Your Details

Use your monthly take-home salary after deductions.

Please enter a valid salary

Add the total of your current loan EMIs each month. Enter 0 if you have none.

Cannot be more than your salary

Enter your current age. The calculator accepts ages 21 to 58.

Age must be between 21 and 58

Please select a loan type

Options adjust based on loan type and age

Please select a tenure

Select your current score band. The result uses a built-in rate range for that band.

Please select a credit score range

Eligibility Result

Fill in your details and click Calculate

Loan Type --
EMI Capacity
After existing obligations --
Expected Interest Rate --
Maximum Eligible Loan
Based on rate range --
Tenure Considered --
FOIR Used --
Credit Score Band --

Low Credit Score Warning

This is a planning estimate, not a loan approval. The calculation uses the inputs you provide and this tool's built-in FOIR and interest-rate assumptions. Actual lenders may use different criteria, rates, income definitions and credit policies.

How It Works

How Is Loan Eligibility Calculated?

A lender does not decide your maximum loan amount from salary alone. The basic question is: how much monthly repayment can you reasonably carry after considering your existing obligations? This calculator turns that idea into a simple estimate using your income, current EMIs, loan type, tenure and credit score.

The calculation first estimates a maximum EMI based on a FOIR assumption. Your existing EMIs are then deducted from that amount. The remaining EMI capacity is converted into an estimated loan amount using the selected tenure and the interest-rate range built into the calculator.

How Much Loan Can I Get Based on My Salary?

There is no single salary-to-loan multiplier that works for every borrower. Two people earning the same amount can have different eligibility if one already has large EMIs, chooses a shorter tenure, or has a different credit profile.

Example: Suppose your take-home salary is ₹60,000 per month and you already pay ₹8,000 in existing EMIs. For a home loan, this calculator uses a 55% FOIR assumption, giving a total modeled EMI capacity of ₹33,000. After the existing ₹8,000 EMI, ₹25,000 remains for the new loan. With a 20-year tenure and the calculator's 750 to 800 score-band rate range, the modeled loan range is roughly ₹27.79 lakh to ₹28.81 lakh. This is an example of the calculator's method, not a lender quote.

What Is FOIR and Why Does It Matter?

FOIR stands for Fixed Obligation to Income Ratio. It is a way of expressing how much of your income can be committed to fixed loan repayments. The higher your existing EMI burden, the less room you have for another loan.

This calculator uses these FOIR assumptions:

Loan typeFOIR used by this calculator
Home loan55%
Personal loan45%
Car loan50%

These are calculator assumptions, not universal bank rules. Lenders can use different FOIR or repayment-capacity methods depending on the product and borrower profile. RBI guidance for home loans describes repayment capacity in terms of income, expenses, liabilities and other factors, which is why a simple salary multiplier should not be treated as a guaranteed approval rule.

What Inputs Change Your Loan Eligibility?

1. Net monthly salaryHigher take-home income generally leaves more room for a new EMI. This calculator uses the salary you enter as the income base.
2. Existing EMIsCurrent loan EMIs reduce the amount available for a new loan. This is one reason two people with the same salary can receive different estimates.
3. Loan typeHome, personal and car loans use different FOIR assumptions and different built-in rate ranges in this calculator.
4. TenureA longer tenure can support a larger loan for the same EMI capacity because repayment is spread across more months. It can also mean more total interest.
5. Credit score bandThe selected score range changes the calculator's modeled interest-rate range. A lower modeled rate produces a higher loan amount for the same EMI capacity and tenure.
6. AgeAge affects the available tenure options. In this calculator, home-loan tenure is limited so the selected tenure does not extend beyond age 60.

Why Does the Calculator Show a Loan Range?

The result can show a range because the calculator uses a low and high interest-rate assumption for each loan type and credit score band. For the same EMI capacity, a lower interest rate supports a larger principal, while a higher rate supports a smaller principal.

The rate ranges are built into the calculator for estimation. They are not live offers from banks or NBFCs and should not be treated as current lender quotes. Your actual rate can depend on the lender, loan product, credit profile, income, employment and other underwriting factors.

Home Loan vs Personal Loan vs Car Loan Eligibility

The calculator supports three loan types because the repayment calculation can differ by product. A home loan generally allows a longer tenure in the model, while personal and car loans use shorter tenure ranges. The FOIR and interest-rate assumptions also change by loan type.

If you are comparing the same salary across different loan types, do not assume the eligible amount will be the same. The calculator is deliberately using different assumptions for each product.

What This Calculator Does Not Tell You

A calculator result is not a sanction letter. It does not verify your salary slips, bank statements, employment history, credit report details, property documents, lender-specific rules or the final rate offered to you. Self-employed applicants can also be assessed differently from salaried applicants.

Use the result as a starting point for planning. Before applying, compare the lender's eligibility criteria, interest rate, fees, tenure, prepayment terms and the documents required for your specific loan.

Frequently Asked Questions

Should I enter gross salary or take-home salary?
Use the income figure that best matches what you can consistently use for monthly loan repayment. If your salary structure includes deductions or variable components, the lender may use a different income figure when assessing your application.
What should I include as existing loan obligations?
Enter the monthly EMIs or fixed loan obligations you are already paying. The calculator uses this amount to reduce the EMI capacity available for the new loan.
Can a co-applicant change my home loan eligibility?
It can. A lender may consider a co-applicant's income and existing obligations when assessing a joint application. This calculator does not separately model a co-applicant, so its result is based only on the details you enter for yourself.
Does a longer loan tenure change the eligible loan amount?
Yes. For the same EMI capacity and interest rate, a longer tenure generally allows the modeled EMI to support a larger principal amount because repayment is spread over more months. The available tenure also depends on the loan type and the assumptions built into this calculator.
Why can two people with the same salary get different loan offers?
Income is only one part of a lending assessment. Existing liabilities, credit history, requested loan terms, income stability and the lender's own policies can lead to different eligibility amounts or interest rates for borrowers with similar salaries.
What documents may a lender use to verify my income?
Depending on the loan and borrower profile, a lender may ask for documents such as salary slips, bank statements, income tax records or other proof of income. The exact requirements vary by lender and loan type.
Can self-employed borrowers use this calculator?
You can use it as a rough planning tool if you can enter a consistent monthly income figure, but the calculator does not separately model self-employed income, business expenses or lender-specific income assessment methods.
What should I do after checking my estimated eligibility?
Use the estimate as a starting point, then compare the actual interest rate, processing charges, tenure, total repayment and lender requirements before applying. A lender's final assessment may differ from the calculator result.

Useful next steps

Once you know your estimated loan amount, use the EMI Calculator to compare monthly payments and total interest. If you want to understand the math behind EMI, read How EMI Is Calculated. If your credit score is the part you want to improve or understand, see Why Your Credit Score Matters

For general context, RBI describes loan eligibility in terms of repayment capacity and factors such as income, expenses, liabilities, income stability, tenure and interest rate. CIBIL also notes that lenders consider credit history and other borrower details when assessing loan applications.

RBI: Housing Loans FAQ | CIBIL: Loan Approval Process