Loan Eligibility Calculator for India
A loan eligibility calculator estimates the maximum loan amount you may be able to borrow based on income, existing obligations and repayment capacity. Lenders usually evaluate factors such as salary, credit score, age, job stability, current EMIs and FOIR, which means fixed obligations to income ratio. This calculator uses your monthly income, existing monthly obligations, expected interest rate, tenure and FOIR to estimate an affordable EMI and eligible loan amount. It is useful before applying for a home loan, personal loan or car loan because it helps you set a realistic budget. Actual eligibility can differ by lender policy, credit profile, collateral, location and documentation quality.
Loan Eligibility FAQs
What is FOIR?
FOIR is the share of income that goes toward fixed obligations such as EMIs and debt payments.
Does credit score affect eligibility?
Yes. A strong credit score can improve approval chances and sometimes pricing.
Can eligibility vary by bank?
Yes. Each lender uses its own risk policy and income assessment method.