Personal Loan Assistance

FOIR, not income, sets the ceiling

Most lenders cap FOIR — all EMIs plus this new one, as a share of net monthly income — at 50–55%, with a few stretching to 60–65% above roughly ₹1 lakh monthly income. A ₹1.2 lakh earner with a ₹35,000 car EMI and a ₹15,000 credit card minimum already has less room than the salary alone suggests. CIBIL score matters, but most rejections below score 750 are actually FOIR rejections wearing a credit-score label — the file looked thin because existing obligations weren’t accounted for correctly at intake.

Common, lender end-use restrictions permitting: medical costs, education, weddings, home renovation where a loan against property doesn’t apply, relocation, and consolidating existing high-cost debt into one EMI.

What a lender checks

• Net monthly income (salaried) or net profit (self-employed, typically averaged over 2–3 years)
• CIBIL / CRIF bureau score — most lenders look for 750+; some price risk-based below that
• Employment type and employer category, for salaried applicants
• FOIR after adding the proposed EMI to existing obligations
• Business vintage and profitability, for self-employed applicants
• Age and remaining working/earning years