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Loan Eligibility Calculator India 2026 – Max Loan on Salary
Use this free Loan Eligibility Calculator in India to discover the maximum home, personal, or car loan you qualify for — before you apply.
Max loan based on salary
Max Loan Eligible
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Max Loan
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Max Monthly EMI
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❓ FAQs
How does this calculator work?▼
Enter the required values and click Calculate. Results appear instantly using standard financial formulas.
Is this free?▼
Yes, completely free. No login or signup required.
Are calculations accurate?▼
Yes, industry-standard formulas. For large decisions, consult a financial advisor.
📊 What is the Loan Eligibility Calculator and How Does It Work?
Banks calculate eligibility using FOIR (Fixed Obligation to Income Ratio) — typically 40–50% of net income. Maximum loan is calculated by working backwards from the maximum EMI affordable given existing obligations.
Formula
Max EMI = (Net Monthly Income × FOIR%) – Existing EMIs | Eligibility = Max EMI × [(1+r)^n – 1] / [r × (1+r)^n]🪓 Step-by-Step: How to Use This Calculator
- Enter net monthly income (take-home salary)
- Enter all existing monthly EMIs if any
- Set interest rate for the new loan
- Enter desired loan tenure
- Click Calculate to see maximum eligible loan amount
📌 Example Calculation
Net income ₹80,000, existing EMI ₹15,000, home loan at 8.5% for 20 years: eligible for ~₹25.5 lakh. To get ₹50L loan need ₹1.1L+ net income.
✅ Benefits of Using This Calculator
- Know exact eligible amount before applying
- Avoid rejection by checking eligibility first
- Understand how existing EMIs reduce eligibility
- Plan applications strategically
- Know the income needed for your dream home loan
- Compare eligibility across different loan tenures
⚙️ Key Factors That Affect Results
- Net monthly income — primary determinant
- Existing EMI obligations — directly reduces eligibility
- FOIR (typically 40–50%) — varies by bank
- Credit score — 750+ for maximum eligibility
- Employment type — salaried vs self-employed criteria differ
- Age — remaining working years affect maximum tenure
❓ Frequently Asked Questions
What is FOIR?▼
Fixed Obligation to Income Ratio. Banks allow total EMIs including the new loan to be 40–50% of net income.
Does credit score affect eligibility?▼
Yes significantly. 750+ gets maximum eligible amount at best rates. Below 700 may reduce eligibility.
Can a co-applicant increase eligibility?▼
Yes. Adding a spouse or family member combines income, significantly increasing home loan eligibility.
How to increase loan eligibility?▼
Pay off existing EMIs, improve credit score, choose longer tenure, add a co-applicant with good income.
Do all banks have same criteria?▼
No. FOIR and calculation methods vary. NBFCs may be more flexible than scheduled banks.