Loan Eligibility Calculator: How Much Can You Borrow?

Before applying, find out roughly how large a loan your income can support. This calculator estimates your eligibility.

What is it?

Lenders cap your EMI at a share of your income (often 40-50%) after existing obligations. That ceiling decides your maximum loan.

How is it calculated?

Eligible loan is derived by reversing the EMI formula: from the affordable EMI, rate and tenure, the maximum principal is back-calculated.

Example

On a ₹1 lakh monthly income with a 50% EMI ceiling and no other EMIs, at 9% over 20 years you could qualify for roughly ₹55 lakh.

Key things to know

• Clearing existing EMIs raises your eligibility.
• A higher credit score can mean a larger sanction.
• A co-applicant’s income can be added.
• A longer tenure raises eligibility but also total interest.

What to do next

Compare lenders, as eligibility rules vary.

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Frequently asked questions

What raises eligibility most?
Higher income, fewer existing EMIs, and a strong credit score.

Does my score matter?
Yes, both for approval and the rate offered.

Can I add a co-applicant?
Yes, combining incomes increases the limit.

Disclaimer: This article is for general information only and is not financial or tax advice. Consult a qualified advisor before making investment or tax decisions.