Loan & EMI
Loan Eligibility Calculator
Estimate the maximum principal you can borrow given your income and existing obligations.
Your finances
20 yrs
Banks: 40–55%
Eligible loan amount
₹44,45,798
Max EMI ₹40.0K/mo
- Max affordable EMI
- ₹40,000
- Total interest
- ₹51,54,202
- Total payment
- ₹96,00,000
Max EMI = (Income − Existing EMIs) × FOIR%. Then reversed to principal.
Formula
How the math works
Max EMI = (Income − Existing EMIs) × FOIR; Principal = EMI × ((1+r)ⁿ − 1) / (r·(1+r)ⁿ)
- FOIR
- Fixed Obligations to Income Ratio (usually 40–55%)
- r
- Monthly rate
- n
- Tenure in months
Method
How it works
- 1
Enter your monthly take-home income.
- 2
Add any existing EMIs (car loan, credit card, personal loan).
- 3
Choose the lender’s FOIR — most banks use 40–55%.
- 4
CalcPe returns your maximum affordable EMI and the principal it can service.
Worked example
A quick walkthrough
Inputs
Income ₹1,00,000, existing EMIs ₹10,000, 9% p.a. for 20 years, FOIR 50%.
Steps
- Max EMI = (1,00,000 − 10,000) × 50% = ₹45,000
- Solve principal for 240 months
- Eligible loan ≈ ₹50 L
Result
Eligible loan amount ≈ ₹50,00,000 with EMI ₹45,000.
Why use it
Why CalcPe’s Loan Eligibility Calculator
- Know your borrowing limit before you shortlist properties.
- Understand how FOIR affects your loan approval.
- Test how paying off a credit card increases eligibility.
- Great for pre-application planning.
FAQ
Frequently asked questions
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