Can You Afford It?
Banks look at your FOIR — Fixed Obligation to Income Ratio — before approving any loan. Enter your salary and existing EMIs to see if adding one more pushes you into the danger zone.
Banks don't care what you earn. They care about what's left.
Most banks approve loans comfortably when your total EMIs (including the new one) stay below 40% of your net monthly salary. At this level, you have real financial headroom for emergencies, savings, and lifestyle.
Banks may still approve, especially for secured loans (home, car) or high-income applicants. But you're stretched. One job change or medical bill can make repayments painful. If you're here, avoid adding any more obligations.
Most banks will reject loan applications when FOIR exceeds 50%. Even if approved, the terms will be worse. No-cost EMI on a gadget here isn't just expensive — it's actively harming your future borrowing capacity for things that matter.