How to Use This Calculator
- Enter Affordable EMI.
- Enter Annual Interest Rate (%).
- Enter Tenure (months).
- Click Calculate to view the result.
- Review the calculated result shown below the form.
- Use Reset to clear the values and start again.
Finance
Loan Eligibility Calculator
Estimate eligible loan amount from affordable EMI.
Formula
Eligible loan=
Affordable EMI × (pow(1 + (Annual Interest Rate (%) ÷ 12 ÷ 100),Tenure (months)) − 1) ÷ ((Annual Interest Rate (%) ÷ 12 ÷ 100) × pow(1 + (Annual Interest Rate (%) ÷ 12 ÷ 100),Tenure (months)))