Loan Eligibility
Wondering how much loan you can get? Banks typically allow your total EMIs to be 40-50% of your monthly income.
Your Financial Profile
Based on standard bank eligibility criteria
Home loans: 8.5-9.5% | Personal loans: 11-15% | Car loans: 9-11%
Home loans: up to 30 years | Personal loans: up to 5 years | Car loans: up to 7 years
Loan Eligibility Result
How Banks Calculate Your Loan Eligibility
Banks want to be sure you can comfortably repay the loan. They typically use a formula called FOIR (Fixed Obligation to Income Ratio) - basically, your total monthly EMI payments shouldn't exceed 40-50% of your monthly take-home salary. We've used 45% in this calculator, which is a middle-ground benchmark most banks follow.
Tips to Increase Your Loan Eligibility
Add a Co-Applicant
Include your spouse's income. Banks combine both incomes, which can double your eligibility.
Improve Your Credit Score
A score above 750 can increase eligible amount by 10-15% and get you better rates.
Pay Off Small Loans First
Closing credit cards or small personal loans frees up EMI capacity for the new loan.
Choose Longer Tenure
A longer loan tenure means smaller EMIs, which increases eligibility (but you'll pay more interest).
Frequently Asked Questions
About the Loan Eligibility
Wondering how much loan you can get? Banks typically allow your total EMIs to be 40-50% of your monthly income.
Formula
Reference Table
| Category | Value |
|---|---|
| Monthly Income | Max Loan (20 yrs @9%) |
| ₹50,000 | ₹45 Lakhs |
| ₹75,000 | ₹68 Lakhs |
| ₹1,00,000 | ₹90 Lakhs |