Loan Eligibility Calculator – Understand How Much Loan You Can Get

With easy access to credit and rising financial aspirations, loans have become a crucial part of financial planning for millions in India. Whether you are planning to buy a home, car, or fund personal expenses, the first question that comes to mind is:

“How much loan am I eligible for?”

A Loan Eligibility Calculator helps you answer this instantly. It evaluates your income, liabilities, credit profile, and employment details to estimate the amount of loan you are most likely to qualify for—before you even apply.

Why Use a Loan Eligibility Calculator?

A loan application that gets rejected can affect your credit score and delay future approvals. Using an eligibility calculator helps you prepare and apply confidently.

1. Instant loan eligibility estimate
   Find out exactly how much loan amount you may qualify for based on your income and repayment capacity.
2. Reduces chances of rejection
   By knowing your eligibility beforehand, you can apply only for the amount that you can realistically get approved for.
3. Helps plan finances smartly
   Understand how much you can borrow without burdening your monthly budget.
4. Fast, accurate & error-free
   No need for manual calculations. The tool provides precise numbers within seconds.

Factors That Affect Your Loan Eligibility

Loan eligibility depends on multiple financial and lifestyle factors. Here are the key ones:

1. Monthly Net Income
   Higher income increases your eligibility. Most lenders allow EMIs up to 40–50% of your take-home salary.
2. Existing EMIs / Liabilities
   If you already have loans, your new eligibility decreases. Lower existing EMIs = higher loan amount.
3. Credit Score (CIBIL Score)
   A score above 750 gives you better eligibility, faster approvals, and lower interest rates.
4. Employment Type & Stability
   Salaried individuals (especially with MNCs or government jobs) often get higher eligibility. Self-employed individuals need stable income proof.
5. Age of the Applicant
   Younger applicants get longer tenure and higher eligibility. Older applicants may get lower tenure, reducing the eligible amount.
6. Interest Rate & Loan Tenure
   Lower interest rates and longer tenure reduce EMI and increase loan eligibility.

How Loan Eligibility Is Calculated

Most lenders in India follow a standard formula based on FOIR (Fixed Obligation to Income Ratio).

Eligible EMI = Net Monthly Income × FOIR

FOIR usually ranges between 40% – 50%. The eligible EMI is then converted into a loan amount using the loan amortization formula.

How to Use the Loan Eligibility Calculator

1. Enter your monthly income
2. Add your current EMIs / obligations
3. Select the interest rate
4. Choose your preferred loan tenure
5. Instantly view:
   • Maximum loan amount
   • Eligible EMI
   • Total payable amount
   • Borrowing range

Benefits of Using Our Loan Eligibility Calculator

• Completely free to use
• Instant and accurate estimates
• Helps avoid loan rejections
• Allows smarter financial planning
• Useful for both salaried & self-employed individuals

Ready to Take the Next Step?

Know your borrowing power in seconds and apply confidently. Use the Loan Eligibility Calculator to plan your finances smartly.

“Know your eligibility before you apply — borrow smart, live stress-free.”