Last reviewed: 4 September 2026. FOIR percentages differ by lender and bureau file. This is not a sanction.
What is a Loan Eligibility Calculator?
Lenders cap existing EMIs plus the new EMI at a share of net monthly income (FOIR — Fixed Obligation to Income Ratio). This page reverse-calculates a loan from leftover EMI capacity using the same EMI identity as the home loan tool, inverted.
How to use it
Enter net monthly income, existing EMIs, FOIR percent, expected rate and tenure. Max EMI = (Income × FOIR/100) − existing EMIs. Eligible principal is the loan that produces that EMI. Age, employment type, credit score and LTV are not inputs here.
Formula used
Eligible loan = EMI × ((1+r)^n − 1) / (r × (1+r)^n)
Example calculation
₹1 lakh net income, ₹10,000 existing EMI, 50% FOIR leaves ₹40,000 of EMI room. At 8.5% for 20 years that room maps to a sizable home-loan principal on this formula — a bank may still say no.
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Frequently asked questions
Does this guarantee a loan?
No. Credit score, employment, age and papers also decide the sanction.
What is FOIR?
The share of net income that can go to EMIs, often 40–50%.
Grow Money Calculator provides general financial calculation tools for educational and planning purposes. Results are estimates based on the information you enter and may differ from actual lender, bank or investment-product calculations. This is not a loan offer or investment advice. Read the full disclaimer.