Loan Eligibility Calculator

Check how much loan you are eligible for based on income, existing EMI, interest rate and tenure.

Loan eligibility refers to the maximum loan amount a lender may offer you based on your income and current financial obligations.

This calculator gives an estimate using standard banking rules and helps you plan before applying for a loan.

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How loan eligibility is calculated

Most banks allow up to 50% of your monthly income to be used for loan repayments. Your existing EMIs reduce the amount available for a new loan.

Factors affecting loan eligibility

  • Monthly income
  • Existing loan obligations
  • Interest rate
  • Loan tenure

Tips to improve eligibility

  • Reduce existing EMIs
  • Opt for longer tenure
  • Increase income or apply with a co-applicant

FAQs

Q: Is this loan eligibility exact?
A: This is an estimate. Actual eligibility may vary based on bank policies and credit profile.

Q: Does credit score affect loan eligibility?
A: Yes, lenders consider credit score, but it is not included in this calculator.

Q: How can I improve my loan eligibility?
A: You can improve eligibility by reducing existing EMIs, increasing income, or opting for longer tenure.