Home Loan Eligibility & EMI Calculator

Banks and HFCs in India typically allow a home loan EMI that does not exceed 40–50% of your monthly take-home income. Your existing EMIs (car loan, personal loan, credit card dues) are subtracted from that ceiling to arrive at the maximum EMI you can afford, and from there, the maximum loan amount is derived.

The Loan Eligibility Calculator above applies the standard 40% FOIR (Fixed Obligation to Income Ratio) rule used by most Indian lenders. Simply enter your monthly take-home income, existing EMIs, preferred interest rate and tenure to see the maximum loan you qualify for.

EMI (Equated Monthly Instalment) is calculated using the reducing-balance method:

Where P is the loan principal, r is the monthly interest rate and n is the total number of monthly instalments. Use the EMI Calculator tab above to see your exact monthly payment for any loan amount.

• Credit Score (CIBIL): A score of 750+ typically gets you the best interest rates. Scores below 650 may lead to rejection or higher rates.
• Age & Tenure: Younger applicants get longer tenures and higher eligibility. The maximum tenure is usually up to 30 years or retirement age, whichever is earlier.
• Existing Debt: Outstanding EMIs reduce your eligible loan amount. Pay off smaller loans before applying.
• Property Type & Location: Lenders may offer different LTV (Loan to Value) ratios depending on whether the property is under construction or ready possession.
• Income Stability: Salaried applicants with stable employment and self-employed with consistent ITR filings get better terms.