Estimate your personal loan range
See what your income could support before you apply.
This is a calculation using your assumptions, not a lender decision. Fees and charges aren't included: see the full cost in the EMI calculator.
How we calculate this
Room for a new EMI = income × your share − existing payments (never below 0) Monthly rate r = yearly rate ÷ 12 ÷ 100, n = months Estimated amount = room × [1 − (1 + r)^−n] ÷ r (r = 0: room × n)
Calculation version 0.6. The share of income is your setting: we don't claim any bank uses it. Lenders also look at your credit history, job, age and other checks, which this estimate doesn't model. Self-employed? Use a careful average monthly income; lenders may count it differently.
Before you borrow
A loan the formula allows can still squeeze your month. Check it against your budget, compare two offers on total cost and APR, or read Small EMI, big cost.
How to read your personal loan estimate
This tool works out how big a loan your monthly income could carry, using a limit you choose yourself. It is a calculation, not a lender’s answer.
What the numbers mean
Estimated borrowing amount is the loan whose EMI fits the room you have left. An EMI (equated monthly instalment) is the fixed sum you repay every month.
Room for a new EMI is the gap between your chosen limit and what you already pay. The bar under the result shows both parts: your existing payments and the room.
Existing payments means every EMI and card payment you make now, each month. Enter 0 if you have none. If you leave the box empty, the tool asks for it, because an empty box is not the same as zero.
The table shows the share of your income that goes to loans today, and the share with the new loan added. If you type an amount you have in mind, you also see its EMI at the same rate and term, and how far it sits above or within the estimate.
How the estimate works
It starts with the share of income: the most of your monthly income you are willing to put towards all loan payments. You set it under “Advanced”. This is your own setting. It is not an RBI rule, and we don’t claim any bank uses it. Each lender sets its own limits.
Room for a new EMI = income × share − existing payments.
Then the tool turns that room into a loan amount with the annuity formula. That is the usual maths for a reducing-balance loan. Each EMI first pays the interest on what you still owe. The rest brings the balance down. A higher rate or a shorter term gives a smaller amount from the same EMI.
When your existing payments already use the whole share, the room is ₹0, so the estimate is ₹0. That is a real answer, not an error. The same happens with zero income.
Worked example
Ravi, a fictional shop supervisor in Lucknow, takes home ₹50,000 a month. He already pays a ₹5,000 EMI on his phone. These are the page’s starting values; the 14% rate is only an example, not a quote from any lender.
| Step | Value |
|---|---|
| Income × 40% share | ₹20,000 |
| − Existing payments | ₹5,000 |
| Room for a new EMI | ₹15,000 |
| Estimated amount (14%, 36 months) | ₹4,38,884 |
| Loan payments now | 10% of income |
| With the estimated loan | 40% of income |
Over 36 months Ravi would repay ₹5,40,000, so ₹1,01,116 of that is interest. Stretching the term to 60 months lifts the estimate to ₹6,44,655, but the interest grows to ₹2,55,345. If Ravi has ₹5,00,000 in mind, its EMI is ₹17,089, and it sits ₹61,116 above the estimate.
With no interest and 12 months, the same ₹15,000 room supports ₹1,80,000 (₹15,000 × 12). If Ravi’s existing payments were ₹20,000, the room and the estimate would both be ₹0.
What this tool doesn’t do
Lenders also look at your credit history, your job and how stable it is, your age and other checks. This tool models none of them, so it can’t say whether you will be approved. Processing fees, GST on fees and insurance are not included. The EMI calculator shows the full cost and the APR (the yearly cost with fees). If you are self-employed, enter a careful average monthly income. A lender may count that income differently.
A loan the formula allows can still be tight for your month. Before you borrow, check it against your budget or compare two offers on total cost. If your current payments already feel heavy, see practical steps when it’s hard to pay.
Read next
Frequently asked questions
Is this the amount a lender will give me?
No. It is a calculation from your income, your existing payments and a share of income that you choose. A lender sets its own limits and also checks your credit history, job, age and other details. None of that is in this tool, so it can't tell you whether you will be approved or for how much. Use the result as a starting point for your own planning.
What share of income should I enter?
That is up to you. The share is the most of your monthly income you are willing to spend on all loan payments together. It is a setting for this estimate, not an RBI rule or a bank policy. Think about your weakest month: rent, food, school fees, bills and some savings still need to fit. Try a lower share and watch how the estimate changes.
Why does the estimate show ₹0?
Your existing payments already use the whole share you chose, so there is no room for a new EMI (the fixed monthly repayment). Take ₹50,000 of income at a 40% share: that allows ₹20,000 for all loans. If you already pay ₹20,000, the room is ₹0 and so is the estimate. This is a result, not an error. If payments already feel heavy, see our page on practical steps when it's hard to pay.
Can I borrow more by choosing a longer term?
In the formula, yes, but you pay for it in interest. Take a fictional ₹15,000 EMI at an example rate of 14%. Over 36 months it supports ₹4,38,884, and you repay ₹1,01,116 in interest. Over 60 months it supports ₹6,44,655, but the interest grows to ₹2,55,345. A longer loan also keeps the EMI in your budget for more years.
Are processing fees and GST included?
No. The estimate covers the loan amount, the rate and the term only. Many loans also carry a processing fee with GST on it, and some add insurance. When the fee comes out of the loan, you get less money but repay the same EMIs. Our EMI calculator shows the full cost and the APR, the yearly cost of the loan with fees included.
My income changes from month to month. What should I enter?
Enter a careful monthly average, or the amount you earn in a weak month. A good month makes the estimate look bigger than your budget can carry. Lenders may count self-employed or irregular income in their own way, and this tool doesn't model that. Before you borrow, check the EMI against your real monthly spending with our budget check on the Can I afford it page.