Estimate the loan amount supported by your income, existing EMIs and an entered debt-payment limit. This planning estimate is separate from a lender’s credit assessment or approval.
How to use the Loan Eligibility calculator
Start with your take-home income and the EMIs you already pay. Choose an assumed limit for total EMI payments as a share of income, then enter a rate and tenure. The result estimates repayment-supported borrowing, rather than a lender’s approval.
- Net monthly income
- Use regular take-home income available to service debt, not annual CTC.
- Existing EMIs
- Include ongoing monthly loan instalments that would continue alongside the proposed loan.
- Total EMI / income limit
- Enter your planning assumption. The default 45% is an illustration and is not claimed to be any bank’s policy.
- Interest rate and tenure
- Enter the annual nominal rate and a whole number of months. The rate is divided by 12 for monthly reducing-balance interest.
Select Calculate, review the result and its breakdown, then change one input at a time to compare scenarios.
Formula and calculation method
The monthly budget for a new loan is the entered share of income minus existing EMIs, floored at zero. The calculator discounts that fixed EMI stream to estimate principal. It also shows total repayment, interest and an annual loan-balance schedule. At zero interest, principal equals EMI multiplied by the number of months.
See the numbers in context
For ₹1,00,000 take-home income, ₹15,000 existing EMIs and an assumed 45% total-EMI limit, a new EMI budget is ₹30,000. At 10% for 60 months, this supports about ₹14,11,961 of principal. Total repayment is ₹18,00,000, including about ₹3,88,039 interest.
Illustrative inputs · rounded to the nearest rupeeWhat your result means
This amount is supported by the assumptions you entered. It is not a sanctioned loan or a recommendation to borrow the maximum. Actual eligibility can depend on credit history, employment, age, security, loan purpose, product limits and the lender’s assessment.
Scenarios worth comparing
- Reduce the assumed EMI share to see a smaller debt commitment.
- Compare a shorter tenure with a longer one and review both principal and total interest.
- Increase existing EMIs to see how ongoing obligations reduce the new EMI budget.
Assumptions and limitations
- The interest rate, income, existing obligations and EMI limit remain constant.
- The model uses a fixed EMI with monthly reducing-balance interest and no payment holidays.
- Fees, insurance, taxes, bank-specific loan caps and credit approval rules are not modeled.
- If existing EMIs exceed the entered limit, the estimate is zero; this is not a bank rejection.
Frequently asked questions
Does this confirm bank eligibility?
No. It estimates an amount from your entered repayment assumptions. The lender performs its own assessment and may use different rules.
Why is the EMI limit editable?
Banks and products can use different limits, and personal budgets differ. An editable assumption avoids treating one percentage as a universal rule.
Why does a longer tenure increase capacity?
The same monthly payment can repay more principal over more months, but normally produces more total interest. Review both figures.
Educational estimates only. Verify inputs, applicable rules and product terms before making decisions. Read the disclaimer.