Eligibility Calculator is a verified banking & loans calculation tool on Calcify. Calculate your maximum loan eligibility based on monthly income, FOIR norm, and existing EMIs. All calculations execute locally in your browser with multi-currency support, visual breakdowns, and white-label client exports.
Based on maximum permissible EMI of ₹50,000/month
Max_EMI = (Income × FOIR%) - Existing_EMI; Eligible_Principal = Max_EMI × [ (1+r)^n - 1 ] / [ r × (1+r)^n ]
Example Inputs: Net Monthly Take-Home Income: ₹120000 · Existing Monthly Loan EMIs: ₹10000 · Bank FOIR Limit (% of Income): 50 % · Loan Interest Rate: 8.6 % · Loan Tenure: 20 Years
Example Output: Maximum Loan Eligibility: ₹57,19,759 (Based on maximum permissible EMI of ₹50,000/month)
The Eligibility Calculator on Calcify applies the verified mathematical formula: Max_EMI = (Income × FOIR%) - Existing_EMI; Eligible_Principal = Max_EMI × [ (1+r)^n - 1 ] / [ r × (1+r)^n ]. Every input is validated in real time with multi-currency formatting to ensure zero rounding or division errors.
FOIR (Fixed Obligation to Income Ratio) caps total monthly debt service relative to net income.
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