Omozing Answers › FOIR and existing EMIs

How do I calculate my FOIR? A worked example

In short: FOIR = all your monthly loan obligations ÷ your monthly take-home pay × 100. Add up every EMI you pay (loans, card EMI conversions, pay-later instalments), divide by the salary credited to your account each month, and multiply by 100. Then do it a second time with the new loan’s EMI added, because that is the figure a lender checks. For example, ₹12,000 of EMIs on a ₹68,000 take-home is a FOIR of 17.6%; adding a ₹13,671 EMI takes it to 37.8%.

Written by the Omozing Credit Team, which includes IIT and IIM alumni · Reviewed for accuracy by our credit and compliance team · Updated October 2026

What changes the answer

The arithmetic is simple. The judgement is in what goes on each side of the division:

Take-home, not gross

Use the net salary credited to your account each month, after tax, PF and other deductions.

Leave out one-off credits

Bonuses, arrears, reimbursements and transfers from your own accounts are not regular income.

Variable pay

If incentives swing month to month, use a cautious average, or the fixed part alone.

Every regular obligation

All EMIs, card conversions and pay-later plans. What counts and what doesn’t.

Card balances

Lenders commonly count a share of the outstanding or the minimum due. Practice varies, so work it out both ways.

The new EMI

Lenders check FOIR after the new loan, so include its EMI at the tenure and rate you expect.

An example, step by step

Rohan is an illustrative profile, not a real customer. His salary slip shows net pay of ₹68,000. His bank statement also shows a ₹15,000 bonus in one month and a ₹4,500 travel reimbursement in another.

Find monthly take-home
₹68,000. The bonus and reimbursement are left out because they don’t repeat every month.
List every obligation
A personal loan EMI of ₹7,800 and a two-wheeler EMI of ₹4,200, so ₹12,000 a month. He has no card balance.
Divide and multiply by 100
₹12,000 ÷ ₹68,000 × 100 = 17.6%. This is his FOIR today.
Add the new EMI
A ₹4 lakh loan at an example 14% a year over 36 months has an EMI of about ₹13,671. Total EMIs: ₹25,671. ₹25,671 ÷ ₹68,000 × 100 = 37.8%.

Rohan’s FOIR before and after the new loan

Bar drawn to scale against the full ₹68,000 take-home. Illustrative; 40% and 50% are example limits, and 14% a year is an example rate, not an offer (Omozing’s rates start from 11% a year).

Running it backwards: what EMI can I add?

Lenders also run the sum in reverse: limit × take-home − existing EMIs = room for a new EMI. For Rohan:

Example limit	All EMIs allowed	Room for new EMI	Indicative loan, 24 months	Indicative loan, 36 months
40%	₹27,200	₹15,200	₹3.17 lakh	₹4.45 lakh
50%	₹34,000	₹22,000	₹4.58 lakh	₹6.44 lakh

Example rate 14% a year, not an offer. Indicative only; actual amounts depend on a full credit assessment.

The salary calculator does this backwards sum for you.

When it gets harder, and what helps

It gets harder when:

Your salary credits vary, so there is no single “monthly take-home” to divide by.
You forget small obligations, like a pay-later plan, that a lender will find on your report.

What helps:

Use your last six months of salary credits and take the lowest regular month.
Pull your credit report and list every open account before you calculate. Checking it doesn’t hurt your score.
Calculate both “today” and “after the loan” figures.

How lenders look at it

Lenders use the same division, but with their own inputs: income read from your salary slip and statement, and obligations read from your credit report and statement. Each lender decides how to treat grey areas such as card balances, variable pay and loans about to close, and sets its own limit; many lenders cap FOIR around 50%. That is why your own figure is a good guide, not a guaranteed match. Our longer FOIR guide explains why lenders use it at all.

At Omozing

You need your last 6 months’ salary-account bank statement, your latest salary slip, and PAN and Aadhaar for KYC. A credit officer reads your full credit report, not just the score.

What most people get wrong: they calculate FOIR on today’s EMIs only, see a low number, and assume they qualify for anything. The figure that matters includes the new EMI. Rohan’s 17.6% becomes 37.8% the moment the loan is added.

Got your number?

Salaried, take-home ₹40,000 or more, credit score from 600: check your offer. Loans up to ₹25 lakh over 3 to 36 months.

Check your offer Try the salary calculator

Frequently asked questions

What is the FOIR formula?

FOIR = total monthly obligations ÷ monthly take-home pay × 100. Include the new loan’s EMI to see the figure lenders check.

Is FOIR calculated on gross or net salary?

Lenders usually use take-home (net) pay, the amount credited to your salary account.

Should I include my bonus in FOIR?

Usually not. One-off credits such as bonuses and reimbursements are generally left out of monthly income.

What is a good FOIR?

Lower is better. Many lenders cap it around 50%; for comfort, see what share of salary should go to EMIs.

Is FOIR the same as debt-to-income ratio?

They measure the same idea. FOIR is the term Indian lenders use, usually on monthly take-home pay.

Next questions people ask:

How can I bring my FOIR down before I apply? FOIR and existing EMIs: questions answered Do my existing EMIs reduce how much I can borrow?

Omozing is the digital lending brand of Aparampaar Finance Private Limited, an RBI-registered non-deposit-taking NBFC. Loans are subject to credit assessment. See our regulatory disclosures and grievance redressal process.