Loan Eligibility Calculator

Loan eligibility converts your income and existing obligations into the maximum installment a bank will approve, then into the loan amount that installment supports. The computation rests on EMI capacity = (gross income × 50%) − existing obligations. On 20,000 monthly income with 3,000 of existing obligations, capacity is 20,000 × 0.5 − 3,000 = 7,000; at 8.99% over 48 months that installment supports roughly 281,000 of principal. Each input you type is substituted the instant you release the key, and the result is expressed in exactly the units or currency you chose.

1. 1

   Step 1

   Start with the primary figures the Loan Eligibility Calculator asks for.

2. 2

   Step 2

   Your values are substituted into EMI capacity = (gross income × 50%) − existing obligations.

3. 3

   Step 3

   Read off the computed result.

4. 4

   Step 4

   Vary one input at a time to see its effect.

• Counting net instead of gross

• Hiding existing debt

• Forgetting card minimums