Check your home, personal & car loan eligibility instantly
| Bank | Interest Rate | Max Loan Eligible |
|---|---|---|
SBI | 8.50% | ₹36.01 L |
HDFC Bank | 8.75% | ₹35.36 L |
ICICI Bank | 8.75% | ₹35.36 L |
Axis Bank | 8.75% | ₹35.36 L |
Kotak Mahindra | 8.70% | ₹35.49 L |
PNB | 8.40% | ₹36.27 L |
Bank of Baroda | 8.40% | ₹36.27 L |
Canara Bank | 8.40% | ₹36.27 L |
Union Bank | 8.35% | ₹36.41 L |
IDFC First Bank | 8.75% | ₹35.36 L |
Bajaj Finserv | 8.50% | ₹36.01 L |
Tata Capital | 8.75% | ₹35.36 L |
* Interest rates are indicative and may vary based on your profile. Contact banks for exact rates.
A Loan Eligibility Calculator is a financial tool that helps you determine the maximum loan amount you can borrow based on your income, existing financial obligations, and credit profile. It considers factors like FOIR (Fixed Obligation to Income Ratio), credit score impact, and bank-specific criteria.
Our advanced calculator provides instant eligibility across multiple loan types (Home, Car, Personal, Education, Business) and compares your eligibility across top Indian banks, helping you make informed borrowing decisions.
Higher income = Higher eligibility
750+ score = Best rates & max amount
Lower EMIs = More borrowing capacity
Salaried gets 55% FOIR vs 45% for self-employed
Longer tenure = Higher eligible amount
21-60 years ideal, affects max tenure
| Credit Score Range | Rating | Interest Rate Impact | Loan Amount Impact | Approval Chances |
|---|---|---|---|---|
| 750+ | Excellent | Best rates available | 100% of max eligibility | Very High |
| 650-749 | Good | +0.25% to +0.5% | 90% of max eligibility | High |
| 550-649 | Fair | +1% to +2% | 70% of max eligibility | Moderate |
| Below 550 | Poor | +2% to +4% | 50% or rejection | Low |
Loan eligibility is calculated based on several factors: your monthly income, existing EMIs/obligations, credit score, employment type (salaried/self-employed), loan tenure, and the bank's FOIR (Fixed Obligation to Income Ratio) policy. Generally, banks allow 40-60% of your net income for EMI payments.
FOIR stands for Fixed Obligation to Income Ratio. It's the percentage of your income that can go towards loan EMIs. For salaried individuals, banks typically allow 50-60% FOIR, while for self-employed it's 40-50%. Lower existing EMIs mean higher loan eligibility.
With a ₹50,000 monthly salary and no existing EMIs, you can typically get a home loan of ₹35-45 lakhs at 8.5% interest for 20 years. This depends on your credit score, bank policies, and employment stability. A co-applicant can increase your eligibility.
Yes, credit score significantly impacts loan eligibility. A score of 750+ gets you the best rates and maximum loan amount. Score between 650-749 may get 90% of max eligibility. Below 650, you may face higher interest rates and reduced loan amounts, with some banks rejecting applications below 600.
Yes! You can improve eligibility by: (1) Improving credit score by paying bills on time, (2) Reducing existing debts/EMIs, (3) Adding a co-applicant, (4) Choosing longer tenure, (5) Showing additional income sources, (6) Maintaining job stability for 2+ years.
For preliminary eligibility check, you need: Income proof (salary slips/ITR), bank statements (6-12 months), ID proof (Aadhaar, PAN), address proof, and employment proof. Self-employed individuals need additional business documents and audited financials.