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Home Loan
Car Loan
Personal Loan
Business Loan
Income & EMI Details
₹15K₹50,000₹5L
💡 Adding co-applicant can double your eligibility
₹0₹0₹1L
✅ Best rates for salaried category
7%8.5%20%
1yr20 yrs30yrs
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Max EMI Allowed
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Available EMI
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Max Loan Amount
Your FOIR (used / allowed)—
🏦 Bank-wise Comparison
Based on your income — approximate estimates
SBI / HDFC
FOIR 50% · 8.5%
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ICICI / Axis
FOIR 55% · 9.0%
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Bajaj / NBFC
FOIR 60% · 10%
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Tips to Increase Your Loan Eligibility
💳 Close existing loans/credit card EMIs before applying — even a ₹5,000 EMI reduction increases eligibility by ~₹5.8L (at 8.5%, 20yr)
👥 Add a co-applicant (spouse/parent) with income — banks may consider 50–100% of co-applicant income
📈 Improve CIBIL score above 750 — you get lower interest rates (0.25–0.5% less) which directly increases eligibility
📅 Choose longer tenure (20–30 yrs for home loans) — reduces EMI burden, increases eligible amount
💰 Include other income (rental, freelance, spouse) — most banks consider 100% of co-applicant income for joint loans
Free Loan Eligibility Calculator India 2026 — Home, Car, Personal Loan
This Loan Eligibility Calculator uses the FOIR (Fixed Obligation to Income Ratio) method used by all Indian banks including SBI, HDFC, ICICI, Axis, and Kotak. Enter your monthly net salary, existing EMIs, preferred interest rate and tenure to instantly know the maximum loan amount you can get. The calculator shows bank-wise comparison across SBI/HDFC (50% FOIR), ICICI/Axis (55% FOIR), and Bajaj Finance/NBFCs (60% FOIR) — helping you choose the right lender.
What is FOIR and how do banks use it?
FOIR (Fixed Obligation to Income Ratio) is the percentage of your net monthly income that banks allow for total EMI payments (existing + new loan). SBI and HDFC follow a 50% FOIR — meaning if you earn ₹50,000/month, your total EMIs (old + new) cannot exceed ₹25,000. With no existing EMIs, your full ₹25,000 is available for the new loan EMI, qualifying you for approximately ₹29 lakh home loan at 8.5% for 20 years. Adding a co-applicant with income can significantly boost your eligible amount.
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❓ Frequently Asked Questions
How is loan eligibility calculated in India? ▾
Banks use FOIR (Fixed Obligation to Income Ratio) — typically 50% of your net monthly salary. They subtract existing EMIs from this amount to get your available EMI capacity, then use the reverse EMI formula to calculate the maximum loan principal. For ₹50,000 salary with 50% FOIR and no existing EMIs: available EMI = ₹25,000. At 8.5% for 20 years, this gives a loan of ~₹29 lakh.
What CIBIL score is needed for a home loan? ▾
750+ for best rates and maximum eligibility. 700–750 qualifies but at slightly higher rates (+0.25%). 650–700 may face higher rates or stricter conditions. Below 650, most banks reject home loan applications. This calculator assumes a good CIBIL score of 750+.
Can adding a co-applicant increase my eligibility? ▾
Yes, significantly. Most banks consider 100% of the primary applicant's income and 50–100% of the co-applicant's income. If you earn ₹50,000 and your spouse earns ₹40,000, the combined income used is typically ₹75,000–₹90,000, nearly doubling your loan eligibility. Both co-applicants can also claim tax benefits independently.
Which bank gives the highest home loan eligibility? ▾
NBFCs like Bajaj Finance use 60% FOIR, giving the highest eligibility. ICICI and Axis use 55%. SBI and HDFC use 50%. However, SBI typically offers the lowest interest rates (8.4–9%), making total loan cost lower despite slightly lower eligibility. For maximum amount, apply to NBFCs; for minimum interest, choose SBI or HDFC.
Does existing loan EMI reduce my eligibility a lot? ▾
Yes, enormously. Every ₹5,000 in existing EMI reduces your home loan eligibility by approximately ₹5.8 lakh (at 8.5%, 20 years) due to the long tenure multiplier effect. Closing a car loan EMI of ₹10,000 before applying for a home loan can increase eligibility by ₹11–12 lakh. Always clear high-EMI short-tenure loans before applying for a home loan.
What is the maximum tenure for home loans in India? ▾
Most banks offer up to 30 years for home loans. The maximum tenure is limited by your retirement age (typically 60–65 for salaried, 70 for self-employed). A 30-year-old can get 30 years, while a 50-year-old gets only 15–20 years. Longer tenure means lower EMI but higher total interest — choose based on your monthly budget.