EMI Affordability Calculator

Our EMI affordability calculator tells you the maximum loan amount you can take based on the EMI you can comfortably afford each month. Lenders in India follow the FOIR rule — your total EMI outgo should not exceed 40–50% of your gross monthly income.

Formula: Maximum Loan = Affordable EMI × [(1+r)ⁿ − 1] / [r × (1+r)ⁿ]. For example, if you can afford ₹20,000 EMI at 9% for 20 years, your maximum loan eligibility is approximately ₹22.2 lakh. Use this as a planning tool before approaching banks.

Banks also consider your CIBIL score, employment stability, existing liabilities, and age. Use this loan eligibility calculator as a planning tool, then get a formal pre-approval from your preferred lender before house hunting.