Before You Apply
Work out how large a loan you can comfortably take on, based on your income and how much of it you're willing to commit to EMIs. Works for home, car, personal, education, gold, and business loans.
Primarily from your income and existing EMIs, using a target EMI-to-income ratio (FOIR), along with the interest rate and tenure you expect.
It is the share of your monthly income that goes toward loan EMIs. Lenders usually cap total EMIs at roughly 40 to 50 percent of income.
No. It is an estimate. Actual approval also depends on your credit score, employment type, existing obligations, and each lender's internal policy.
Lowering existing EMIs, choosing a longer tenure, adding a co-applicant's income, or improving your credit score can raise the amount you qualify for.
