FOIR

FOIR (Fixed Obligation to Income Ratio) is the share of your monthly income already committed to fixed repayments, and it is the first number a lender checks. Add every existing EMI (Equated Monthly Instalment), credit-card minimum and rent, then divide by net monthly income. Most lenders want the total, including the proposed new EMI, to stay under roughly 50% to 55%. It is why closing a small loan can raise your eligibility more than a higher salary would. Sanction is at the lender's sole discretion, and each sets its own ceiling.