What is a Loan Eligibility Calculator?
The Loan Eligibility Calculator estimates the maximum home loan or personal loan amount you qualify for based on your net monthly income, existing EMI obligations, and the bank FOIR (Fixed Obligation to Income Ratio). It helps you understand your borrowing capacity before approaching banks.
Benefits of Using Rupee Logic Loan Eligibility Calculator
Know Before Applying
Estimate loan eligibility before formally approaching banks — avoid unnecessary credit score hits.
Co-Applicant Boost
See how adding a co-applicant such as a spouse increases your eligibility and reduces EMI burden.
FOIR Planning
Understand how your existing EMIs affect new loan eligibility and plan your repayments accordingly.
Total Cost View
See the total interest and payment over the full loan tenure, not just the monthly EMI figure.
Frequently Asked Questions — Loan Eligibility Calculator
Banks primarily use FOIR (Fixed Obligation to Income Ratio): Maximum EMI = Net Monthly Income × FOIR minus Existing EMIs. FOIR typically ranges from 40% to 65% depending on the bank and income level. Then Maximum Loan is derived from the maximum allowable EMI using the standard EMI formula. SBI uses approximately 50-55% FOIR; HDFC 55-60%; some banks go up to 65% for high-income applicants.
CIBIL score directly impacts both eligibility and interest rate. Score 750+: best rates and high eligibility; 700-749: standard rates and good eligibility; 650-699: higher rates with moderate eligibility; below 650: loan may be rejected or offered at very high rates. Improving CIBIL from 700 to 750 can reduce home loan rate by 0.25-0.50%, saving ₹2-5 lakh on a ₹50L 20-year loan.
Yes. Add a co-applicant such as spouse or parents — combined income boosts eligibility; repay or close existing personal loans and credit card dues before applying; opt for longer tenure of 30 years versus 20 years which reduces EMI and allows higher principal; show additional income from rent, freelance, or FD interest if accepted by the lender; improve CIBIL score to negotiate lower interest rate.
Banks use net monthly income (take-home salary after tax and deductions) for FOIR calculation. Some banks may use gross salary but then deduct estimated taxes, EPF, and other deductions. Always use your actual in-hand salary in our calculator for accurate results. A gross salary of ₹1 lakh might translate to ₹75-80K in-hand after income tax, EPF, professional tax, and other deductions.
Standard documents: last 3 months salary slips, Form 16, and last 2 years ITR for income proof; Aadhaar and PAN for identity; Aadhaar and utility bills for address proof; last 6-12 months bank statements; sale agreement and title deeds if property is identified; and employment letter or HR certificate. Self-employed applicants additionally need business registration proof, audited financials, and GST returns.