The share of your monthly income that goes on EMIs and other fixed payments.
Lenders add up your existing EMIs and the new one, and divide by your take-home pay. Most allow a FOIR of 40% to 60%, depending on income and the lender.
It decides how much you can borrow. Closing a small loan before applying can raise the amount you are offered.
On ₹75,000 take-home with ₹10,000 of EMIs, a 50% FOIR leaves room for a new EMI of ₹27,500.
Short reads that explain how it works before you decide.
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