How banks decide your eligibility
Most banks let your total EMIs reach about 40–60% of your monthly income. This is called FOIR (fixed obligation to income ratio). This calculator uses 50%, subtracts your existing EMIs, and works out the loan that EMI can repay.
How to get a bigger loan
- Add a co-applicant with income, such as a spouse.
- Close small loans and credit card dues first.
- Choose a longer tenure. Keep your CIBIL score above 750 for better rates.