ANKIVA ONE
LOANSInteractive Tool

Loan Eligibility Calculator — FOIR Based Borrowing Limit

Check how much home or personal loan you qualify for based on your monthly income, existing EMIs, and FOIR guidelines.

Enter Your Details

Interactive Inputs
₹
₹25,000₹1.20 Lakh₹10,00,000
₹
₹0₹15 Thousand₹3,00,000
%
7%16%
Years
1 Years30 Years

Need Personalized Assistance?

Connect with certified specialists for custom quotes.

Maximum Eligible Loan Amount
₹51,85,388
Based on 50% FOIR guideline at 8.5% for 20 years
Net Monthly Income₹1,20,000
Existing Monthly EMIs₹15,000
Available EMI for New Loan₹45,000Out of max ₹60,000 capacity
FOIR Ratio Utilized50%
Advertisement
Ad Space PlaceholderFormat: rectangle
Practical Scenario

Example: ₹1,20,000 Monthly Salary with ₹15,000 Existing Car EMI

A salaried professional earning ₹1,20,000 per month applies for a home loan at 8.5% for 20 years with 50% FOIR limit.

Input Parameters
  • Net Monthly Income:₹1,20,000
  • Existing Car Loan EMI:₹15,000
  • FOIR Limit:50% (Max ₹60,000/mo total EMI)
Calculated Results
  • Available EMI for New Loan:₹45,000 / month
  • Eligible Loan Amount:₹51.85 Lakh
  • Tenure:20 Years @ 8.5%

Key Takeaway: Clearing existing small loans before applying significantly expands your borrowing capacity.

How This Calculation Works (Mathematical Formula)

Max EMI = (Net Income × FOIR%) - Existing EMIs

Eligible principal is derived from available EMI discounted at the applicable interest rate and tenure.

Frequently Asked Questions

FOIR (Fixed Obligation to Income Ratio) represents the percentage of your net monthly income that can go towards all loan EMIs. Banks usually limit FOIR to 40%–55%.

Related Calculators

View All →
EMI Calculator
Calculate monthly installments, total interest, and annual amortization schedule.
Calculate
Home Loan EMI
Calculate estimated housing loan EMIs, interest breakdown, and annual amortization schedule.
Calculate
Loan Prepayment
Calculate interest saved and tenure reduced with partial loan prepayments.
Calculate

Helpful Guides & Explanations

Loans & Mortgages
How Much Home Loan Can I Afford? The 3-20-30-40 Rule for India
Determining home affordability isn't just about what the bank is willing to lend you — it's about keeping your total monthly debt obligations within a sustainable threshold without compromising your retirement savings.
Read →
Loans & Mortgages
₹50 Lakh Home Loan EMI: Complete Cost Analysis & Prepayment Tactics
For a ₹50 Lakh home loan at 8.5% for 20 years, your EMI is ₹43,391/month. Over 20 years, you repay ₹1.04 Crore in total.
Read →

Disclosure: Ankiva One provides free financial calculators and guides. When you apply for products through partner links on our website, we may receive compensation at no extra cost to you. This does not influence our objective calculations.