Want a deeper check?
Open the Loan Eligibility calculator →Numeric income + existing EMIs + tenure + employment type — returns Verdict + eligible loan amount + FOIR cap + self-employed haircut.
How is loan eligibility calculated in India?
Loan eligibility in India is the maximum amount a bank is willing to lend based on your income, existing commitments, credit score, employment type and the loan product (home, personal, business, education, vehicle). Most public and private sector banks apply the 50% EMI-to-income rule — also called the Fixed Obligations to Income Ratio (FOIR) — meaning your total monthly EMIs (existing + proposed) should not exceed 40–55% of your net monthly income. For a salaried applicant earning ₹50,000 per month with no existing EMIs, a typical home loan eligibility ranges from ₹26 lakh to ₹33 lakh at 8.5% interest over 20 years; for personal loans, the same salary translates to ₹8–12 lakh over 5 years at 11–14% interest.
Three levers move your loan eligibility: (1) Income — gross monthly take-home for salaried, average of last 2 years ITR for self-employed; (2) FOIR — banks subtract existing EMIs before applying the cap; (3) Credit score — a CIBIL score of 750+ unlocks the best rates and the upper end of eligibility, while 700–749 gets approval at higher rates, and below 700 many lenders reject outright or limit the amount. Public sector banks (SBI, BOB, PNB, Bank of India) typically have stricter FOIR but lower rates; private banks (HDFC, ICICI, Axis, Kotak) offer faster processing and higher loan amounts at slightly higher rates; NBFCs (Bajaj Finserv, Tata Capital, HDFC Credila) are most lenient on credit profile but charge the highest rates.
For Gujarat applicants specifically, the Gujarat State Financial Corporation (GSFC), Gujarat Industrial Investment Corporation (GIIC), and several district cooperative banks offer MSME loan schemes at concessional rates for traders, manufacturers, diamantaires (Surat), textile units (Ahmedabad), ceramic manufacturers (Morbi), and agricultural processors (Anand, Bhavnagar). The Central Government's PMEGP, MUDRA Yojana (Shishu/Kishore/Tarun), and Stand-Up India schemes extend ₹10 lakh to ₹1 crore loans for SC/ST and women entrepreneurs without collateral. For Salaried borrowers, the home loan interest tax deduction under Section 80C (principal up to ₹1.5 lakh) and Section 24(b) (interest up to ₹2 lakh) reduces effective borrowing cost.
Use the FinTax24 loan eligibility calculator above for an instant estimate — then talk to our experts on WhatsApp for a personalised review of which loan type and bank matches your profile.
Loan Eligibility
How much loan can I get?
Estimate your indicative loan eligibility based on income, existing EMIs, and interest rate. Uses the 50% EMI-to-income rule that most Indian banks follow.
- Based on the 50% EMI-to-income rule banks follow in India
- Deducts existing EMIs before computing the maximum allowable new EMI
- Indicative only — actual eligibility depends on credit score and bank policy
Enter your gross (pre-tax) monthly income
Sum of all ongoing loan EMIs (leave 0 if none)
Compare loan products from top banks
Enter your details below to calculate an indicative loan eligibility amount. Use the calculator as a quick reference — exact eligibility is confirmed by the bank after reviewing your credit profile.
SBI Home Loan
8.50% p.a. | Up to ₹10 Cr | 30 years
HDFC Personal Loan
10.50% p.a. | Up to ₹40 lakh | 6 years
ICICI Business Loan
14.00% p.a. | Up to ₹75 lakh | 5 years
Bajaj Finserv
11.00% p.a. | Up to ₹40 lakh | 8 years
Axis Bank Home Loan
8.75% p.a. | Up to ₹5 Cr | 30 years
Kotak Business Loan
14.50% p.a. | Up to ₹50 lakh | 4 years
Frequently Asked Questions
How much home loan can I get on a ₹50,000 salary?
Most banks follow the 50% EMI-to-income rule. On a ₹50,000 monthly income, your total EMIs (including existing loans) should stay below ₹25,000. Assuming a 20-year tenure at 8.5% interest, this typically translates to a home loan eligibility of ₹22–28 lakh.
What CIBIL score is needed for a personal loan?
A CIBIL score of 750+ is preferred for personal loan approval at competitive rates. Scores between 700–749 may still qualify but at higher interest rates (typically 1–3% extra). Below 700, approval is uncertain and many lenders will reject the application outright.
How is business loan eligibility calculated?
Banks typically assess business loans using 2–3 of these: (1) ITR of last 2–3 years (profit after tax), (2) bank statement showing cash flow, (3) turnover from GST returns. Most lenders offer 6–24 months of average monthly turnover as the eligible loan amount for unsecured business loans.
Does checking loan eligibility affect CIBIL score?
No. Using an eligibility calculator like this one, or checking pre-approved offers on bank apps, is a soft enquiry and does not impact your CIBIL score. Only when you formally apply and the bank pulls your credit report does it count as a hard enquiry (small dip of 5–15 points).
What documents are needed for a loan application?
For salaried: PAN, Aadhaar, last 3 months salary slips, last 6 months bank statements, Form 16 / ITR. For self-employed: PAN, Aadhaar, last 2–3 years ITR with computation, last 12 months bank statement, GST registration (if applicable), business proof.