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Loan Eligibility Calculator

Work out loan eligibility instantly with clear inputs, formula shown and shareable results.

About Loan Eligibility Calculator

Lenders cap the EMI at a fixed share of net income — the fixed obligation to income ratio. Working the annuity formula backwards from that affordable EMI gives the loan size the income can support at the quoted rate and tenure.

Formula

Eligibility

Loan = EMI_max × (1 - (1+r)^-n)/r, EMI_max = income × FOIR

r
Monthly rate
n
Months

Worked example

With the default values below, Loan Eligibility Calculator returns Loan You Could Support of $6,789,552. Change any input above and every figure here is recalculated in your browser.

Inputs used

Net Monthly Incomeminimum 0
120,000
Share Of Income Allowed For EMIaccepts 10–75 %
50 %
Annual Interest Rateaccepts 0–100 %
8.75 %
Tenure In Yearsaccepts 1–35
20

Results

Loan You Could Support
$6,789,552
Maximum Affordable EMI
$60,000.00
Total Interest Over The Tenure
$7,610,447.79
EMI As Share Of Income
50.00%

Step by step

  1. 1Values used
  2. 2Eligibility
  3. 3Loan You Could Support= 6,789,552
  4. 4Maximum Affordable EMI= 60,000.00
  5. 5Total Interest Over The Tenure= 7,610,447.79
  6. 6EMI As Share Of Income= 50.00

Assumptions and limits

  • The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take inflation, tax or fees or charges into account.
  • Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
  • Figures are estimates. Lenders apply their own rounding, fees and eligibility rules, and rates change. This is not financial advice — confirm the numbers with your lender.
  • This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Figures are estimates. Lenders apply their own rounding, fees and eligibility rules, and rates change. This is not financial advice — confirm the numbers with your lender.

Frequently Asked Questions

Do existing loans reduce eligibility?

Yes. Current EMIs are deducted from the allowed share first, so only the remainder supports new borrowing.

Why does a longer tenure raise eligibility?

The same EMI amortises a larger balance over more months, though total interest rises sharply.

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