Loan eligibility calculator: how much EMI and loan can you afford?

Lenders decide how much to lend by looking at how much of your income is left after your existing obligations. This calculator turns your income, expenses and current EMIs into an estimate of the monthly instalment you can carry, and then into the loan amount that instalment supports for your chosen rate and tenure.

The second step is the reverse of the EMI formula: the loan is the EMI multiplied by the present value of a series of monthly payments at your rate. Many lenders also look at your credit score, job stability and age, so treat the result as a planning figure, not an approval. For a ranking that weighs your approval chances, use the Loan Finder.

Frequently asked questions

Does this guarantee I will get the loan?

No. It estimates affordability from the numbers you enter. A lender also checks your credit history, employment and documents before approving.

What counts as an existing obligation?

Any EMI you already pay, such as a car loan, personal loan or credit card instalments, reduces the room available for a new one.

How can I raise my eligibility?

A longer tenure lowers the EMI, clearing existing debt frees up income, and a better credit score can improve the terms you are offered.

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