हिंदी

Home Loan Eligibility Calculator

Estimate how much home loan a bank may give you. Banks look at how much of your monthly income is left for a new EMI after your current EMIs.

Loan you may get —
Maximum EMI —
Total interest over the tenure —

How to use

  1. Enter your monthly take-home income (add your co-applicant's if applying together).
  2. Enter the EMIs you already pay.
  3. Enter the interest rate and tenure.
  4. See the maximum EMI and loan amount you may be eligible for.

Formula

Maximum EMI = income × allowed share (FOIR) − current EMIs. The loan amount is the amount that this EMI can repay: Loan = EMI × (1 − (1 + r)−n) ÷ r, where r is the monthly rate and n the number of months.

Frequently asked questions

What is FOIR?

Fixed Obligation to Income Ratio: the share of your monthly income that can go towards all EMIs. Most banks allow 40–60%, depending on your income.

How can I get a bigger loan?

Choose a longer tenure, add an earning co-applicant, close small loans first, or improve your credit score for a lower rate.

Is this the final amount?

No. It is an estimate. Banks also consider your credit score, age, job stability and the value of the property (usually lending up to 75–90% of it).

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