Banks use FOIR (Fixed Obligation to Income Ratio) to decide your maximum loan. Your total monthly EMIs must stay within 40–50% of gross salary. The formula banks use:
Max EMI allowed = Monthly salary × 0.40 (to 0.50) minus existing EMIs Max loan amount = Max EMI × loan factor (based on rate and tenure)
Scenario
CIBIL
Approx Max Loan
Rate
EMI (20 yrs)
Best case — no existing EMIs
750+
Rs 20 lakh
8.50%
Rs 17,356/mo (on Rs 20L)
With existing car loan EMI
750+
Rs 17–18 lakh approx
8.50%
Lower eligible amount
Lower CIBIL (700–749)
700–749
Rs 15–18 lakh approx
9.00%+
Higher rate, lower loan
EMI Table — Different Loan Amounts on Rs 30,000 Salary
Personal loan eligibility is typically 10–15 times monthly salary for salaried applicants. PSU banks are more conservative; private banks may lend more to good CIBIL profiles.
Yes. On Rs 30,000 monthly salary with CIBIL 750+ and no existing EMIs, most banks will consider approximately Rs 20 lakh home loan. Actual eligibility depends on your FOIR, co-applicant income, city, age, and bank policy. PSU banks like SBI and Bank of Baroda are generally more flexible. Use our Home Loan Eligibility Calculator for your exact figure.
FOIR (Fixed Obligation to Income Ratio) is the percentage of your salary that goes to EMIs. Banks allow 40-50% FOIR. On Rs 30,000 salary, 40% FOIR = Rs 12,000/month available for EMIs. If you already pay car loan or personal loan EMIs, that amount reduces what's available for your home loan EMI, which reduces the loan amount you qualify for.
SBI and Bank of Baroda have the lowest minimum income requirements and are generally more flexible for salaried employees. They also offer lower rates starting at 8.40-8.50%. Private banks like HDFC and ICICI are faster (3-5 days vs 7-15 days for PSU banks) but may have stricter income and CIBIL requirements.
Yes, significantly. When you add a co-applicant (spouse, parent, or sibling in some cases), the bank combines both incomes for the FOIR calculation. This can increase your eligible loan amount by 40-80% depending on the co-applicant's income. The co-applicant's CIBIL score also matters — a good score from both applicants gives the best result.
Most PSU banks will reject your home loan application if CIBIL is below 700. NBFCs may approve at 650-680 but at much higher rates (10-12%+). The best approach is to spend 6-12 months improving your CIBIL before applying. Pay all existing EMIs on time, reduce credit card utilisation below 30%, and avoid new loan applications. See our CIBIL improvement guide for a step-by-step plan.
⚠️ Disclaimer: All information is for educational and informational purposes only. Loan amounts and eligibility shown are indicative estimates based on standard bank criteria as of May 2026 and may vary. FinMandi is an independent information platform, not a bank, NBFC, or registered investment adviser. Always verify directly with your bank before applying.