Finance
Loan Eligibility Calculator
Estimate a comfortable loan amount from income, existing EMIs, and interest rate.
Interactive tool
Loan Eligibility Calculator
Estimated eligibility
₹27,35,666
Comfort EMI
₹25,500
Debt ratio
45%
ChoiceIQ readout
This is a rough eligibility estimate based on a 45% debt-to-income comfort rule.
- + Try a higher down payment.
- + Check lender-specific FOIR rules.
- + Compare eligibility at different rates.
Tool guide
How to use this loan eligibility calculator
This calculator estimates how much loan may feel comfortable based on monthly income, existing EMIs, and an assumed lender rate.
Formula
Comfort EMI = monthly income x 45% - existing EMIs. Estimated loan is calculated from that EMI using a 20-year repayment assumption.
How it works
This calculator estimates how much loan may feel comfortable based on monthly income, existing EMIs, and an assumed lender rate.
Examples
- + Home loan eligibility
- + Car loan planning
- + Debt comfort check
FAQ
How does the loan eligibility calculator work?
It uses the inputs you provide and applies a simple transparent formula: Comfort EMI = monthly income x 45% - existing EMIs. Estimated loan is calculated from that EMI using a 20-year repayment assumption.
Is the loan eligibility calculator free?
Yes. ChoiceIQ tools are free to use during this MVP phase.
Can I use this result as a final decision?
Use it as a decision support estimate. For financial, legal, tax, or high-cost purchases, confirm the final numbers with the provider or a qualified expert.
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