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Loan Eligibility Calculator
Find out how much home loan, car loan or personal loan you can get based on your monthly salary
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FOIR — the number that determines your loan amount
Fixed Obligation to Income Ratio (FOIR) is the percentage of your monthly income that goes toward EMIs and fixed obligations. Banks won't lend you money if your total EMIs (existing + new) exceed this threshold. Home loans allow the highest FOIR at 50-60% because the property acts as collateral. Personal loans cap at 40-45% because they're unsecured — the bank takes more risk.
Four ways to increase your loan eligibility
Clear existing EMIs first
Every ₹10,000 in existing EMIs reduces your eligible loan by ₹8–12 lakh (depending on rate and tenure). Closing a credit card outstanding or personal loan before applying for a home loan can dramatically increase your eligibility.
Add a co-applicant's income
Adding a spouse or parent as co-applicant lets the bank club both incomes for FOIR calculation. A couple earning ₹50K each qualifies for nearly double the loan compared to a single ₹50K applicant — plus you both get home loan tax benefits.
Choose a longer tenure
Extending from 15 years to 25 years lowers the EMI per lakh significantly, which means the same income qualifies for a larger loan. You'll pay more interest overall, but you can always prepay later to shorten the tenure once your income grows.
Improve your CIBIL score above 750
Banks offer their lowest interest rates to borrowers with scores above 750. A lower rate means a lower EMI per lakh, which means higher eligibility from the same income. Even a 0.5% rate reduction on a ₹50L loan increases eligibility by ₹3-4 lakh.
Check your CIBIL score before applying — it's free once a year
Under RBI guidelines, you can access your credit report free once per year from each credit bureau (CIBIL, Experian, Equifax, CRIF). Check it before applying for a loan — errors in your report can drag your score down and reduce eligibility. Dispute any incorrect entries directly with the bureau; corrections typically reflect within 30 days.
Key Terms
FOIR
Fixed Obligation to Income Ratio — % of monthly income going toward all EMIs. Banks cap this at 40–55%.
LTV
Loan to Value — how much loan bank gives vs property value. RBI mandates max 75–90% LTV for home loans.
Co-applicant
Additional borrower (spouse/parent) whose income is added to increase eligibility.
CIBIL Score
Credit score from 300–900. 750+ is excellent; below 650 may lead to loan rejection.