Check home loan eligibility based on your monthly salary, existing EMI obligations, and preferred tenure. Our housing loan eligibility calculator uses the FOIR method to calculate maximum loan amount banks will approve.
Maximum Home Loan = (Monthly Income × FOIR% - Existing EMIs) × Loan Tenure Factor
Example: Rs 80,000 monthly salary, no existing EMIs, 20-year tenure:
Banks use FOIR (Fixed Obligation to Income Ratio) at 40-50%. Use the calculator to enter your exact salary, existing EMIs, and tenure to find your maximum eligible loan amount.
Enter income details and click
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Personalised EMI for ₹50.0L over 240 months. Rates as of May 2026.
| Bank / NBFC | Interest Rate | Your EMIat starting rate | Monthly Savings | |
|---|---|---|---|---|
LIC LIC Housing Finance BESTLowest starting rate | 7.15%p.a. | ₹39,216/month | + ₹2,606/mo₹6.3L total | Apply |
BoB Bank of Baroda40 L+ homes financed | 7.20%p.a. | ₹39,367/month | + ₹2,455/mo₹5.9L total | Apply |
PNB Punjab National BankPSB with fast approval | 7.20%p.a. | ₹39,367/month | + ₹2,455/mo₹5.9L total | Apply |
SBI State Bank of IndiaIndia's largest bank | 7.25%p.a. | ₹39,519/month | + ₹2,303/mo₹5.5L total | Apply |
BHF Bajaj Housing Finance3-min online approval | 7.25%p.a. | ₹39,519/month | + ₹2,303/mo₹5.5L total | Apply |
ICI ICICI BankInstant sanction letter | 7.45%p.a. | ₹40,127/month | + ₹1,695/mo₹4.1L total | Apply |
TAT Tata Capitalup to 12% | 7.50%p.a. | ₹40,280/month | + ₹1,542/mo₹3.7L total | Apply |
KMB Kotak Mahindra BankDoorstep documentation | 7.70%p.a. | ₹40,893/month | + ₹929/mo₹2.2L total | Apply |
HDF HDFC BankLowest max rate | 7.75%p.a. | ₹41,047/month | + ₹775/mo₹1.9L total | Apply |
AXS Axis Bankup to 9.8% | 8.00%p.a. | ₹41,822/month | Lowest Rate 🏆 | Apply |
Rates shown are indicative starting rates (best-case, salaried applicants). Actual rate depends on credit score & eligibility. Affiliate links — we may earn a commission at no cost to you.
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FOIR Ratios Vary by Bank: While most banks use 40-50% FOIR, the difference matters:
Impact: Same salary can yield 20% difference in eligibility across banks. Apply to 2-3 banks simultaneously to maximize options and negotiate rates.
Strategy 1: Add a Strong Co-Applicant (40-60% boost): Spouse, parent, or sibling with stable income. Example: Sole applicant ₹50L → ₹80L. With co-applicant ₹60L → ₹140L (both incomes combined). Requires co-applicant to have CIBIL score 750+.
Strategy 2: Close Existing Loans (10-30% boost): Every existing EMI reduces FOIR. Closing a ₹15K/month car loan frees up that entire amount for home loan EMI. Impact: Rs 50L eligibility → Rs 60L eligibility.
Strategy 3: Extend Loan Tenure (20-40% boost): Instead of 20 years, request 25-30 year tenure. Lower monthly EMI = higher eligibility. Trade-off: higher total interest. Rs 50L salary, 20-yr → Rs 80L; 30-yr → Rs 110L eligibility.
Strategy 4: Declare Additional Income (15-25% boost): Rental income from property, freelance income, dividend income. Must be backed by 3 years of tax returns. Income increase Rs 5L → eligibility boost Rs 8L-13L.
Strategy 5: Improve CIBIL Score (5-15% boost):Higher score (750+) can mean 0.5-1% interest rate reduction + loan approval. Time required: 6-12 months. Method: Pay all EMIs on time, reduce credit card utilization to <30%, avoid new hard inquiries.
Income Proof (Primary):
Financial Documents:
Personal Documents:
Pro Tip: Prepare these docs 2-3 months in advance. Banks move faster when docs are ready. Delays in documentation are the #1 reason loans get rejected.
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Banks use FOIR (Fixed Obligation to Income Ratio) — typically 40–50% of net monthly income. If your income is ₹80,000/month and existing EMIs are ₹10,000, available EMI capacity = ₹22,000–₹30,000. Loan eligibility is the loan amount achievable at this EMI for your chosen tenure. Use our calculator to enter your salary and find your exact eligible amount.
Most lenders prefer FOIR below 40–45%. Below 30% FOIR gives excellent eligibility and better chances of approval at lower rates. Above 50% FOIR, many lenders will decline or offer lower amounts.
On a ₹80,000 monthly salary with no existing EMIs: at 45% FOIR, available EMI capacity = ₹36,000/month. At 9% interest for 20 years, this qualifies for approximately ₹45-50 lakh home loan. If you have existing EMIs of ₹8,000, your eligible loan reduces to ₹35-40 lakh. Use the calculator with your exact salary and tenure to get your precise eligible amount.
The home loan eligibility calculator computes the maximum loan amount you can borrow based on your monthly income, existing EMI obligations, preferred tenure, and current interest rates. It uses the standard FOIR method (40-50% of income). Simply enter your net monthly salary, existing loan EMIs, preferred tenure in years, and click calculate. The tool will show your maximum eligible loan amount instantly.
Yes significantly. Credit score 750+ gives best rates and full eligibility. Score 700–750 may get approval with slightly higher rates. Score below 650 often results in rejection or very high rates. Check your CIBIL score before applying.
FOIR (Fixed Obligation to Income Ratio) = Total monthly EMIs divided by net monthly income. Banks allow maximum 40-55% FOIR. If your net income is Rs 80,000 and existing EMIs are Rs 15,000, available FOIR for new EMIs is Rs 80,000 x 50% minus Rs 15,000 = Rs 25,000/month. This dictates the maximum loan you can get. The eligibility calculator applies FOIR to compute your eligible amount.
Yes - significantly. Adding a co-applicant (spouse, parent) combines both incomes for FOIR calculation, often increasing eligibility by 40-60%. Example: Rs 60,000 plus Rs 40,000 = Rs 1L combined income vs individual Rs 60,000 eligibility. Many banks also give lower interest rates to co-applicant applications. The co-applicant should have a good CIBIL score of 750+.
Most banks require a minimum CIBIL score of 750 for home loan approval and best interest rates. Score 750-800: approved at standard rates. Score 800+: eligible for 0.05-0.25% lower rates. Score below 700: likely rejection or significantly higher rates. If your score is low, spend 6-12 months paying all EMIs on time and reducing credit card utilisation to below 30%.
Banks typically require: (1) Last 2 years ITR (Income Tax Return) and salary slips, (2) Last 6 months bank statements, (3) Employment letter from employer, (4) CIBIL report/credit score, (5) Property documents and valuation report, (6) ID, address, and age proof. Self-employed need 3 years ITR and business registration. Co-applicants need the same documents separately. Early submission of documents speeds up approval.
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