Calculator

Loan Calculator - Calculate Loan Amount & EMI

Calculate your loan eligibility, determine the loan amount you can afford, and compare different loan scenarios with interest rates and tenures.

How much can I borrow?
₹
₹1K₹2L
%
5%25%
Mo
1 Year30 Years
Your Loan Eligibility

Loan Amount

₹11.77 L

Total Interest

₹3.23 L

Total Payment

₹15.00 L

With an EMI of ₹25,000 at 10% interest for 5 years , you can borrow up to ₹11.77 L.

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Understanding Loan Calculations

Our loan calculator helps you understand exactly how much you can borrow based on your desired EMI, or calculate what your EMI would be for a specific loan amount. This dual approach helps you plan your finances better.

Loan Eligibility Formula

To calculate the loan amount based on a desired EMI:

P = EMI × [(1 + R)^N - 1] / [R × (1 + R)^N]
  • P = Principal (loan amount you can get)
  • EMI = Your desired monthly payment
  • R = Monthly interest rate
  • N = Number of monthly payments

Tips for Better Loan Terms

  • Maintain a credit score above 750 for the best rates
  • Compare offers from multiple lenders
  • Consider processing fees in your total cost calculation
  • Check for prepayment penalties before signing
  • Keep your debt-to-income ratio below 40%

Types of Loans Available

This calculator works for home loans, personal loans, car loans, education loans, business loans, and more. Each loan type has different typical interest rates and maximum tenures, so be sure to use realistic values for your calculations.

Frequently Asked Questions

How much loan can I get based on my salary?
Banks typically allow EMI up to 40-50% of your net monthly income. For example, if your salary is ₹50,000, you can afford an EMI of ₹20,000-25,000. The actual loan amount depends on the interest rate and tenure you choose.
What factors affect loan eligibility?
Key factors include your income, existing EMIs and liabilities, credit score (CIBIL), age, employment stability, and the type of loan. A higher credit score and stable income can help you get better interest rates and higher loan amounts.
What is the maximum tenure for different loans?
Home loans can extend up to 30 years, personal loans typically have 5-7 year tenure, car loans range from 5-8 years, and education loans can go up to 15 years. Longer tenure means lower EMI but more total interest paid.
Should I choose a fixed or floating interest rate?
Fixed rates provide certainty but are usually higher. Floating rates can go up or down with market conditions. If you expect rates to fall, floating is better. For long-term stability, fixed may be preferable. Many borrowers prefer floating for home loans due to the long tenure.
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