📊 Excel Alternative
Loan Eligibility Excel — FOIR Calculator Template
Quick Answer
Loan eligibility Excel templates apply FOIR (Fixed Obligation to Income Ratio) manually. CalcCrack Loan Eligibility Calculator applies the bank FOIR rule (typically 40–50% of net monthly income), accounts for existing EMIs, and shows maximum eligible loan amount and the corresponding monthly EMI — no Excel formulas needed.Why use CalcCrack instead of an Excel template
- ✓FOIR-based calculation (40–50% of net monthly income) matching actual bank criteria
- ✓Accounts for existing EMI obligations — car loan, personal loan, credit card minimums
- ✓Maximum home loan, car loan, and personal loan eligibility in one screen
- ✓Multiplier method — many banks use 60× salary for home loans; CalcCrack shows this too
- ✓Shareable link — send your loan eligibility to a bank officer or broker instantly
Feature Comparison
| Feature | CalcCrack 🏦 | 📊 Excel Template |
|---|---|---|
| Works on mobile without app | ✓ | × |
| No download or installation | ✓ | × |
| Shareable link | ✓ | × |
| Always up-to-date data | ✓ | × |
| Advanced calculation modes | ✓ | Partial |
| Offline use | × | ✓ |
| Custom formatting | × | ✓ |
Try it free — no download needed
Loan Eligibility Calculator works instantly in your browser on any device. No Excel, no Google Sheets, no install.
Frequently Asked Questions
What is FOIR in loan eligibility?+
FOIR (Fixed Obligation to Income Ratio) is the maximum percentage of your monthly income that can go toward EMI payments. Most banks allow 40–50% FOIR. If net monthly income is ₹1L and FOIR is 50%, maximum allowed EMIs = ₹50,000.
How do banks calculate loan eligibility?+
Banks use two methods: (1) FOIR method — eligible EMI = net income × FOIR, then back-calculate maximum loan. (2) Multiplier method — maximum loan = net monthly income × 60 (for home loans) or × 12–24 (for personal loans).
What is the minimum salary for a home loan?+
Most banks require a minimum monthly salary of ₹25,000–₹30,000 for home loans. Some NBFCs accept ₹15,000. Eligibility also depends on CIBIL score (minimum 700–750), employment type (salaried vs self-employed), and age.
Does a CIBIL score affect loan eligibility?+
Yes. A CIBIL score above 750 gets the best rates and higher eligibility. Scores between 650–750 may still qualify but at higher rates. Below 650, most banks reject the application.
Related Calculator
🏦Loan Eligibility Calculator
Max loan you can get based on salary, EMIs, and FOIR rule
Disclaimer: This page is for informational purposes and does not constitute financial, tax, or investment advice. Tax rules and rates are as per FY 2025-26 and subject to change. Always consult a SEBI-registered advisor or Chartered Accountant before making financial decisions.