Finance Calculators
Loan Eligibility Calculator
Check how much loan you can afford based on income.
FOIR is the share of monthly income lenders allow for total debt obligations.
Calculation assumptions
- *FOIR is a lender policy assumption, not a guarantee of approval.
- *Eligibility is based on monthly income, existing obligations, interest rate, and tenure only.
- *Credit score, documentation, employment type, collateral, local rules, and lender-specific policy can change the final approved amount.
- *Fees, insurance, taxes, and other obligations may reduce real affordability.
Enter your values and press Calculate.
Results and breakdowns will appear here after a valid calculation.
Why FOIR matters
Loan eligibility often feels like a black box because lenders do not always show the debt-cap rule they are applying. FOIR makes that rule explicit by setting the share of income available for all EMIs combined.
This calculator subtracts existing monthly obligations from the selected debt-cap amount, then estimates how much principal that remaining EMI could support at the chosen rate and tenure.
Eligibility formula and example
Available EMI = monthly income x FOIR - existing monthly obligations. The eligible loan amount is then estimated from that EMI using standard fixed-payment loan math.
Example: with $5,000 monthly income, 50% FOIR, and $500 existing obligations, the available EMI is $2,000. At 8% for 15 years, that supports roughly $209,000 before lender-specific checks.
Assumptions, use cases, and common mistakes
Use this estimate to test affordability before applying, compare tenures, or see how existing debt affects borrowing capacity. It is not an approval decision.
- Do not treat the eligible amount as a guaranteed sanctioned loan.
- Do not ignore credit score, documents, employment stability, collateral, or lender policy.
- Do not leave out credit card payments, existing EMIs, or other recurring debt obligations.
- Verify important decisions with lender statements, bank documents, official calculators, or a qualified professional.
Transparency note
Accuracy and limitations
Calzivo tools are built for practical estimates, conversions, and checks. Some tools use standard formulas or simplified assumptions, and results can be affected by input accuracy, rounding, units, local rules, or changing official requirements.
Finance results are planning estimates, not financial advice. Actual costs or returns can change because of fees, taxes, rates, timing, provider rules, and personal circumstances.
How to Use This Tool
Use these steps to enter the right inputs and interpret the result correctly.
Enter monthly income and current debt obligations.
Pick a FOIR assumption that matches the lender policy you want to test.
Set the expected rate and tenure to see how they change the loan amount.
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Related Guides
Background reading and explanations related to Loan Eligibility Calculator.
How to Calculate EMI (Step-by-Step + Real Loan Examples)
A step-by-step guide to loan math.
APR vs Interest Rate Explained
Understand interest rate, APR, fees, and why monthly payment still matters.
Loan Eligibility Factors Explained
See how income, obligations, tenure, rates, and lender assumptions affect eligibility estimates.
Frequently Asked Questions
Common questions about Loan Eligibility Calculator and how to read the result.
Does this guarantee approval?
No. It is a planning estimate. Lenders also consider credit, employment stability, collateral, and documentation.
What is FOIR?
FOIR is the fixed obligation to income ratio. It estimates what share of monthly income a lender may allow for total debt payments.
How do existing obligations affect eligibility?
Existing EMIs or debt payments reduce the amount available for a new loan payment, which lowers the estimated eligible principal.
Why does a longer tenure increase eligibility?
A longer tenure spreads repayment over more months, so the same available EMI can support a larger principal, though total interest may increase.
What else do lenders check?
Lenders may check credit score, income documents, employment type, bank statements, collateral, property details, local rules, and internal policy.
Should I use gross or net income?
Use the income basis your lender uses if known. If not, test conservatively and verify with official lender guidance before applying.