How much can you borrow?
From your take-home pay and the EMIs you already pay, or from the EMI you can afford.
How lenders size your loan
Lenders allow only a share of your monthly income to go to EMIs. This share is often called FOIR, and is usually between 40% and 60% depending on your income and the lender. Whatever is left after your existing EMIs sets the largest new EMI, and the rate and tenure turn that EMI into a loan amount.
How to use it
- Enter your take-home pay and any EMIs you already pay.
- Change the share under More options to see a cautious and a generous lender.
- Or enter the EMI you are comfortable with instead.
Lenders also look at your CIBIL score, age, job and the property value, so the final amount may differ.
Questions.
What is FOIR?
Fixed obligations to income ratio: the share of your monthly income that goes to EMIs and similar fixed payments. Lenders cap it to make sure you can repay.
How can I borrow more?
Closing small loans, adding a co-applicant's income, or choosing a longer tenure all raise eligibility. A longer tenure means more total interest.
Does my CIBIL score affect eligibility?
Yes. A low score can reduce the amount or raise the rate. Many lenders publish lower rates for higher scores.
Want a lower rate?
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