How this calculator works
Lenders typically won't let your total fixed loan repayments — existing EMIs plus the new one — exceed a set percentage of your monthly income. That percentage is your FOIR (Fixed Obligation to Income Ratio). This calculator works in two steps.
Step 1 — Maximum affordable EMI: Max EMI = (Monthly income × FOIR ÷ 100) − Existing EMI. This is the extra EMI you could take on without breaching the FOIR cap.
Step 2 — Maximum loan amount: using the present value of an annuity (the inverse of the standard EMI formula), with monthly rate r = annual rate ÷ 12 ÷ 100 and n = tenure in months: Max Loan = Max EMI × [(1+r)n − 1] ÷ [r × (1+r)n]. This tells you the largest loan whose EMI, at your chosen rate and tenure, equals your maximum affordable EMI.
This tool is a general-purpose loan eligibility estimator — not a Shunya lending product. If you need help with company registration, GST, or tax filings, Shunya's CA team can help.
Book a Free Consultation →What is FOIR?
FOIR stands for Fixed Obligation to Income Ratio — the share of your monthly income that can go toward all your fixed loan repayments combined. Lenders use it to work out how much more EMI you can safely take on.
What FOIR do banks typically allow?
Most lenders cap FOIR at around 40-50% of income for salaried applicants, sometimes allowing up to 55-65% for higher earners. It varies by lender and isn't a fixed rule, so treat the default of 50% here as a common starting assumption, not a guarantee.
Does this include my rent or other non-loan expenses?
No. FOIR only covers fixed loan and EMI obligations — it doesn't account for rent, utilities, or general living expenses, even though those affect what you can genuinely afford to repay.
Is this exactly what a bank will approve?
No, it's an estimate. Actual loan approval also depends on your credit score, employment type, existing relationship with the lender, and that specific lender's internal policy — this calculator only models the FOIR-based income math.
This tool is for quick estimation only and is not a substitute for professional financial or lending advice. Actual loan eligibility is determined solely by your lender. For compliance and tax matters, consult a practicing CA.
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