About this calculator
Banks cap your total EMIs at a share of net income (FOIR), commonly around 50%. The calculator deducts your existing EMIs and converts the remaining room into a loan amount.
Car Loan Eligibility Calculator
Minimum income by bank
| Lender | Minimum income | Other condition |
|---|---|---|
| SBI Car Loan | ₹3 lakh a year (₹4 lakh agriculturists) | Best rate for CIBIL 800+ |
| HDFC Bank Car Loan | ₹3 lakh a year (salaried) | — |
| Canara Bank Car Loan | ₹3 lakh gross a year | — |
| PNB Car Loan | ₹25,000 net a month | Loan up to 25 × gross monthly salary |
| Bank of Baroda Car Loan | As per bank norms | Minimum CIBIL 701 |
| Union Bank of India Car Loan | As per bank norms | Best rate for CIBIL 825+ |
What else decides eligibility
Credit score
750+ for most banks; the best rates need 800 – 825+.
Job and business stability
Employer category, years in job or business.
Car and funding
Loan is capped at the bank’s funding % of on-road price.
Age
Loan must end before the bank’s maximum age.
Frequently asked questions
Can a co-applicant increase my eligibility?
Yes, a co-applicant’s income (often spouse or parent) is added, raising the loan you can get.
For information and comparison only. Loan terms, rates and rules change — confirm with the lender and read the Key Facts Statement before borrowing.