Loan Eligibility Calculator

A lender caps the EMI at a share of your net monthly income, subtracts the EMIs you already pay, and turns what is left into a loan at the rate and tenure. SBI’s published schedule allows 50% of income above ₹3 lakh a year, 55% above ₹5 lakh and 60% above ₹10 lakh, and its home loan FAQ says the ratio runs from 20% to 70% by income slab. On a take-home of ₹1 lakh a month with no other EMI, 60% is ₹60,000 of EMI, which carries about ₹69 lakh over 20 years at 8.5%. RBI’s cap on the share of the home that may be financed can bring the figure lower, and a lender’s own credit decision can differ.

The share of net monthly income that may go to EMIs, every loan included. NMI, in SBI’s words, is the take-home pay after taxes and other payroll deductions. FOIR, the fixed obligation to income ratio, is the same idea with a different name. Lenders set it by income band; higher incomes are allowed a higher share because the household’s fixed costs take a smaller part of them.

SBI lends salaried applicants up to 48 times net monthly income, and the self-employed, professionals and business owners up to 4 times the net profit or gross taxable income on the return, with depreciation and existing loan repayments added back. The applicant and co-applicant together need a net annual income of ₹3 lakh. The bank finances up to 100% of the on-road price, which includes registration and insurance, over up to 7 years, for applicants aged 21 to 70. The EMI cap still applies, so the smaller of the two figures is the loan.

SBI’s personal loan goes up to ₹50 lakh, subject to an EMI-to-income ratio of 65% and 30 times net monthly income, whichever is lower, over 6 to 84 months and closing by retirement or age 60. It needs a net monthly salary of ₹20,000 in the government and defence sectors or ₹25,000 in the corporate sector, a salary account with the bank and a CIBIL score of at least 650 or 670. It is a salaried product; business owners and professionals borrow unsecured from private banks and NBFCs on their returns and bank statements, usually at higher rates and lower multiples.

From the tax returns, not from receipts. HDFC Bank asks for three years’ returns and two years’ audited accounts and takes the net profit after adjusting depreciation; SBI’s car loan norm adds depreciation and loan repayments back to the profit on the return. Averaging the last two years is the common practice, which is why a single good year does not move the figure as much as a business owner expects. The calculator does the same: enter the two years and the depreciation claimed, and it shows the income the lender would count.

Yes, as a self-employed applicant. No bank publishes a separate norm for creators; the lender reads the returns, the bank statement where the platform and brand payments land, the GST registration if receipts cross the threshold, and the platform payout statements. Because the income swings, a cautious lender reads the lower of the latest year and the two-year average, which is the calculator’s default for creators; change it to the average or the latest year to see the other readings. Two or three years of returns at the income you claim are what most lenders want to see.

Yes, where the lender clubs the incomes. SBI clubs a spouse’s income for home and car loans and counts the applicant and co-applicant together for the car loan’s income floor. Its personal loan does not club a spouse’s income. The calculator adds a co-applicant’s take-home to the income the EMI cap is applied to.

RBI’s Master Circular on housing finance sets the ceiling by loan size: 90% of the cost for loans up to ₹30 lakh, 80% for loans above ₹30 lakh and up to ₹75 lakh, 75% above ₹75 lakh. Stamp duty, registration and documentation charges are not part of the cost for this purpose, so the buyer brings them on top of the down payment. The calculator applies the band that gives the larger loan at the boundaries.

It decides whether you borrow and at what rate more than how much. SBI’s personal loan needs a score of 650 or 670; its car loan rate card runs from 8.55% at 800 and above to 9.50% at 650 to 699 (updated 15 October 2026). A higher rate lowers the loan the same EMI can carry, so the score reaches the amount through the rate. The calculator keeps the score out of the arithmetic and uses it to label the case.

In the order of effect: close a running EMI before applying, since every rupee of it comes off the EMI allowed; add a co-applicant whose income the lender clubs; lengthen the tenure, which raises the loan the same EMI carries at the cost of more interest; for the self-employed, file returns on the full income and claim depreciation, which the lender adds back; and for a home or car bound by the asset, bring a larger down payment, since no income raises a loan-to-value cap.

No. It is arithmetic on norms read from RBI’s circular and SBI’s and HDFC Bank’s pages on the date shown, applied to the figures you enter. Every lender applies its own schedule, reads income its own way and weighs the credit report, the property and the employer. Treat the figure as the size of loan to go and ask for, not as an answer from a bank.