Loan Eligibility Calculator

About the Loan Eligibility Calculator

Loan Eligibility Calculator estimates the maximum loan you can qualify for based on your net monthly income, existing EMIs and the bank's Fixed Obligation to Income Ratio (FOIR) policy — typically 40, 50 or 60%.

How to use

1. Enter your net monthly income and any existing EMIs.
2. Enter the offered interest rate and preferred tenure.
3. Pick an FOIR percentage and click Calculate.

Benefits & key features

• Models real Indian bank FOIR policy (40 / 50 / 60%).
• Subtracts your current EMIs honestly.
• Tenure-aware: longer tenure = higher eligibility (but more interest).
• Pairs with the EMI calculator to plan the repayment schedule.

Pro tip

A 50% FOIR is the most common cap for salaried applicants at Indian banks; self-employed borrowers often get 60%.

Why choose toolsfy for Finance tools?

Finance calculators on banking websites are designed to sell products. toolsfy's are designed to answer a question. Every formula is written out on the landing page so you can audit it against your bank's own fine print, and every calculation respects Indian conventions — rupees, lakhs, financial-year slabs, GST tiers — without forcing you into an anglicised spreadsheet.

Common use cases

• Home-loan applicants comparing EMI under different tenure options before their bank appointment on Monday.
• Small-business owners estimating break-even units before launching a new product line, with fixed costs and contribution margin shown transparently.
• Salaried professionals choosing between the new and old income-tax regime, slab-by-slab, before the next TDS declaration deadline.

Frequently asked questions