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How it works
Uses FOIR (Fixed Obligation to Income Ratio) to estimate the maximum EMI you can afford.
The formula
Eligible EMI = (Income * FOIR) - Existing EMIs- Income
- Net Monthly Income
- FOIR
- Usually 50%
Worked example
₹1 Lakh income with ₹20k existing EMIs can afford ~₹30k new EMI.
Pro tips
- Improve your credit score to increase eligibility.
- Include co-applicant income for higher eligibility.
Common mistakes
- Expecting the exact estimated amount from all lenders.
Go deeper
Concepts to explore
Factors affecting loan eligibility
Institutional grade calculations are illustrative and for educational wealth architecture. Results do not constitute investment advice.