Home loan eligibility calculator 2026
Net income, existing EMIs, tenure and rate - how much construction loan you qualify for, plus lifetime interest.
Build Desk · Finance
Income, tenure, rate
Net monthly income and existing EMIs - how much home-construction loan you qualify for in 2026.
- Max EMI (50% FOIR)₹50,000/mo
- Eligible amount₹57,61,542
- Total interest₹62,38,458
Live result
Eligible loan amount
₹57,61,542
up to ₹50,000/mo EMI · 20 yrs @ 8.5%
Total interest payable
₹62,38,458
Over 20 years at 8.5% reducing balance
Next step
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How loan eligibility is calculated.
1. Enter net monthly income and existing EMIs
Banks apply the FOIR rule: roughly 50% of your net monthly income can go toward all EMIs combined. Existing car, personal or credit-card EMIs are subtracted first - clearing a ₹15,000 personal-loan EMI can raise your eligible home loan by ~₹18 lakh on a 20-year tenure.
2. Set tenure and rate for a construction loan
Home-construction loans in 2026 run ~8.3–8.75% floating for salaried applicants, disbursed in slabs against construction stages (plinth, slab, brickwork, finish) - you pay interest-only on disbursed amounts during construction, then full EMI. Longer tenure raises eligibility but multiplies total interest; 20 years is the common balance point.
3. Add a co-applicant - biggest eligibility lever
A working co-applicant pools income for FOIR: ₹60,000 + ₹40,000 co-applicant = ₹1,00,000 combined, eligibility ~₹51.5 lakh vs ~₹31 lakh alone (+66%). Female co-applicant: SBI and HDFC offer 0.05–0.10% rate concession on some products. The calculator auto-combines incomes.
How banks calculate home loan eligibility.
Two steps: eligible EMI = (net monthly income × FOIR%) − existing EMIs, then loan amount from that EMI at the stated rate and tenure. SBI and HDFC use 50–55% FOIR; Axis 50%; self-employed 40–45%. A ₹15,000 existing EMI clears ~₹18 lakh of eligibility on a 20-year tenure - paying it off before applying is the fastest fix. The calculator above runs the exact FOIR math; the income-multiplier leg (4.5–6× annual income) caps the absolute amount - the lower of the two governs.
SBI, HDFC, ICICI, Axis - what changes.
SBI: FOIR 50–55%, min income ₹25,000, 30-yr max, 50–55× multiplier. HDFC: FOIR 50–55%, min ₹30,000, 30-yr, 52–58×. ICICI: 50–55%, min ₹25,000, 30-yr, 50–56×. Axis: 50%, min ₹25,000, 30-yr, 48–54×. Kotak: 55%, min ₹30,000. NBFCs (LIC HFL, PNB Housing) sometimes approve 650+ CIBIL at 0.5–1.5% higher rate. CIBIL 750+ gets best rates and the widest FOIR allowance; below 650 expect rejection or a co-applicant requirement.
FOIR for home loan - what each bank uses.
FOIR (Fixed Obligations to Income Ratio) is the cap each bank applies on your total EMIs as a percentage of net monthly income. Most public-sector and private banks use 50–55% for salaried applicants, 40–45% for self-employed. The home-loan EMI is fitted after existing EMIs are subtracted - a ₹15,000 car or personal-loan EMI cuts eligibility by ~₹18 lakh on a 20-year tenure, often the single biggest lever before applying.
| Bank | FOIR (salaried) | Min income | Max tenure | Rate band (2026) | Multiplier |
|---|---|---|---|---|---|
| SBI | 50–55% | ₹25,000 | 30 yr | 8.30–8.75% | 50–55× |
| HDFC Ltd | 50–55% | ₹30,000 | 30 yr | 8.40–8.85% | 52–58× |
| ICICI Bank | 50–55% | ₹25,000 | 30 yr | 8.45–8.90% | 50–56× |
| Axis Bank | 50% | ₹25,000 | 30 yr | 8.50–9.00% | 48–54× |
| Kotak Mahindra | 55% | ₹30,000 | 25 yr | 8.45–8.95% | 50–55× |
| LIC HFL / PNB Housing (NBFC) | 50–55% | ₹20,000–25,000 | 25 yr | 8.80–9.50% | 45–55× |
Rate band is floating, indicative for September 2026. Eligibility is the lower of FOIR and the income multiplier. Construction loans disburse in slabs (plinth, slab, brickwork, finish) - interest-only on drawn amounts during construction, converting to full EMI at possession. The calculator above runs the FOIR leg; toggle the co-applicant for the combined income scenario.
Home loan eligibility: your questions answered.
How much home loan can I get on a ₹1 lakh monthly salary?
+
At 8.5% for 20 years with no existing EMIs: roughly ₹57–58 lakh (₹50,000 max EMI under the 50% FOIR rule). With a ₹15,000 existing EMI, eligibility drops to ~₹40 lakh. Add a co-applicant to pool incomes.
What is the interest rate for home construction loans in 2026?
+
Around 8.3–8.75% floating for salaried applicants from major banks; self-employed slightly higher. Construction loans disburse stage-wise and charge interest-only on disbursed amounts until possession, then convert to full EMI.
Does a co-applicant increase loan eligibility?
+
Yes - combining incomes is the single most effective lever. A ₹40,000 co-applicant on a ₹60,000 income raises combined income to ₹1,00,000 - eligibility from ~₹31 lakh to ~₹51.5 lakh (+66%) at 8.5% for 20 years. Female co-applicant: SBI/HDFC rate concession on some products.
Which bank gives the highest home loan eligibility?
+
SBI and HDFC use 50–55% FOIR with 30-yr max tenure; ICICI 50–55%; Axis 50%. NBFCs (LIC HFL, PNB Housing) sometimes approve 650+ CIBIL at 0.5–1.5% higher rate. The calculator compares SBI, HDFC, ICICI and Axis side by side.
How do banks value my eligibility - FOIR or multiplier?
+
Both. FOIR caps total EMIs near 50% of net income (60% at higher slabs); income multipliers (4.5–6× annual income) cap the absolute amount. The lower of the two governs - the calculator above applies the FOIR leg.
Should I take a longer tenure to increase eligibility?
+
It raises the eligible amount but multiplies lifetime interest - 20 vs 30 years on ₹50 lakh at 8.5% adds ~₹30 lakh in interest. Take the longest tenure for eligibility comfort, then prepay from bonuses; most floating loans allow part-prepayment without penalty.
Can I get a home loan for plot purchase plus construction?
+
Yes - composite plot-plus-construction loans exist, but most banks want construction to start within 1–3 years of plot purchase. Pure plot loans carry higher rates and shorter tenures; converting to a construction loan later is the usual route.
Does a construction loan cover interiors and compound wall?
+
Sanctioned amounts follow the bank's approved cost sheet - structure and finishing usually yes; premium interiors, compound wall and landscaping are often capped or excluded. Keep a 10–15% margin from own funds for those heads.
Home loan eligibility calculator based on salary - 2026
FOIR formula, co-applicant leverage, bank comparison, CIBIL and tenure cap.
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Match your eligible amount against real ₹48–90 lakh project budgets.
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Solapur runs 8–12% below Pune - workable project budgets for the eligible loan amount.
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Satara MC, Karad, Wai, Phaltan, Mahabaleshwar - band-by-band.
Read guide →About this tool
Or ask Arsa AI in the dock at the bottom of the page - it has the latest Pune & Baramati cost data and the live permission regime for every area.
WhatsApp a builderHow much home loan can I get on a ₹1 lakh monthly salary?
+
At 8.5% for 20 years with no existing EMIs: roughly ₹57–58 lakh (₹50,000 max EMI under the 50% FOIR rule). With a ₹15,000 existing EMI, eligibility drops to ~₹40 lakh. Add a co-applicant to pool incomes.
What is the interest rate for home construction loans in 2026?
+
Around 8.3–8.75% floating for salaried applicants from major banks; self-employed slightly higher. Construction loans disburse stage-wise and charge interest-only on disbursed amounts until possession, then convert to full EMI.
Does a co-applicant increase loan eligibility?
+
Yes - combining incomes is the single most effective lever. A ₹40,000 co-applicant on a ₹60,000 income raises combined income to ₹1,00,000 - eligibility from ~₹31 lakh to ~₹51.5 lakh (+66%) at 8.5% for 20 years. Female co-applicant: SBI/HDFC rate concession on some products.
Which bank gives the highest home loan eligibility?
+
SBI and HDFC use 50–55% FOIR with 30-yr max tenure; ICICI 50–55%; Axis 50%. NBFCs (LIC HFL, PNB Housing) sometimes approve 650+ CIBIL at 0.5–1.5% higher rate. The calculator compares SBI, HDFC, ICICI and Axis side by side.
How do banks value my eligibility - FOIR or multiplier?
+
Both. FOIR caps total EMIs near 50% of net income (60% at higher slabs); income multipliers (4.5–6× annual income) cap the absolute amount. The lower of the two governs - the calculator above applies the FOIR leg.
Should I take a longer tenure to increase eligibility?
+
It raises the eligible amount but multiplies lifetime interest - 20 vs 30 years on ₹50 lakh at 8.5% adds ~₹30 lakh in interest. Take the longest tenure for eligibility comfort, then prepay from bonuses; most floating loans allow part-prepayment without penalty.
Can I get a home loan for plot purchase plus construction?
+
Yes - composite plot-plus-construction loans exist, but most banks want construction to start within 1–3 years of plot purchase. Pure plot loans carry higher rates and shorter tenures; converting to a construction loan later is the usual route.
Does a construction loan cover interiors and compound wall?
+
Sanctioned amounts follow the bank's approved cost sheet - structure and finishing usually yes; premium interiors, compound wall and landscaping are often capped or excluded. Keep a 10–15% margin from own funds for those heads.