An estimate of the largest EMI and loan your income may support, from the share of income lenders allow for EMIs.
How the estimate works
Lenders limit how much of your monthly income can go to EMIs, often called FOIR (fixed obligations to income ratio). From your income, the EMIs you already pay and that share, the calculator works out the largest new EMI and the loan that EMI could repay at the rate and tenure you enter.
Largest new EMI = income × share − existing EMIs; largest loan = EMI × (1 − (1 + r)^−n) ÷ r
An estimate, not an approval
The share of income is an assumption you can change. Lenders also consider your credit score and history, job and employer, age, the property and their own policy, so they may offer a different amount. Nothing you enter here is stored, and the form is sent without putting your income in the page address.
Ways to raise eligibility
- Add a co-applicant with income.
- Close small loans or credit card dues first.
- A longer tenure lowers the EMI, but raises the total interest.
Results are worked out from the numbers you enter and are for planning only. They are not an offer, an approval or financial advice. Finobazaar does not assume any lender's rate or rules; the lender's loan agreement and its key fact statement decide the actual EMI and charges.