Loan Eligibility Calculator
Loan Eligibility Calculator: free, instant and private. Lenders use the FOIR rule: total EMIs should stay under about half of your monthly income.
How the Loan Eligibility Calculator works
The Loan Eligibility Calculator takes Monthly income, Existing EMIs (monthly), Interest rate (% p.a.), Tenure (years) and returns the answer instantly — no button to hunt for, no page reload. Lenders use the FOIR rule: total EMIs should stay under about half of your monthly income. Existing loans, credit-card EMIs and a low CIBIL score all cut the amount a bank will actually sanction.
Enter your own numbers to replace the example values; the result panel updates as you type. Everything runs in this single page, so nothing you enter leaves your device.
Formula used
Eligible loan = EMI capacity × ((1 + r)^n − 1) / (r × (1 + r)^n)
| Symbol | Meaning |
|---|---|
| r | monthly rate = annual rate ÷ 12 |
| n | tenure in months |
| EMI capacity | 50% of income minus existing EMIs (FOIR rule) |
Lenders use the FOIR rule: total EMIs should stay under about half of your monthly income. Existing loans, credit-card EMIs and a low CIBIL score all cut the amount a bank will actually sanction.
Inputs used: Monthly income, Existing EMIs (monthly), Interest rate (% p.a.), Tenure (years).
Worked example
Take the default example — monthly income of 80000, existing emis (monthly) of 15000, interest rate (% p.a.) of 10, tenure (years) of 5:
- Eligible loan amount: 1,176,634.23
- Max EMI capacity: 25,000
Frequently asked questions
- What formula does the Loan Eligibility Calculator use?
- It uses Eligible loan = EMI capacity × ((1 + r)^n − 1) / (r × (1 + r)^n), where r is the monthly rate = annual rate ÷ 12; n is the tenure in months; EMI capacity is the 50% of income minus existing EMIs (FOIR rule).
- Is the Loan Eligibility Calculator free?
- Yes. There is no signup, no usage limit and no watermark — the calculator runs entirely in your browser.
- How do I read the result?
- Lenders use the FOIR rule: total EMIs should stay under about half of your monthly income. Existing loans, credit-card EMIs and a low CIBIL score all cut the amount a bank will actually sanction.
- Does the Loan Eligibility Calculator store or send my data?
- No. Every calculation happens locally in the page, so the numbers you type are never uploaded or logged.
- Does it work on a phone and offline?
- Yes — the page is a single lightweight file that adapts to any screen size. Once it has loaded it keeps working without a network connection.