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FOIR and EMI eligibility calculator

Work out current FOIR, the EMI room left at a given FOIR, and the loan that EMI can carry.

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Indicative only. Verify against your institution's policy. Nothing you type into the calculator leaves this page.

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Result

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Formulas used

Current FOIR = existing obligations / net income

Maximum EMI = (net income x FOIR) - existing obligations

Loan = EMI x ((1 + r)^n - 1) / (r x (1 + r)^n), with r the monthly rate and n the months

Worked example, made-up numbers

Income 80,000, obligations 12,000, FOIR tested at 50%. EMI room = 40,000 - 12,000 = 28,000. At 11% for 60 months, that carries a loan of about 12.88 lakh.

Assumptions

  • The FOIR you enter is only a test value. Each lender sets its own limits.
  • Definitions of income and obligations vary, so use your institution's.
  • Reducing-balance EMI, paid monthly in arrears.