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Omozing Answers › Loans and EMIs
Written by the Omozing Credit Team · Figures calculated with the standard reducing-balance EMI formula · Updated October 2026
Lenders don’t multiply your salary by a fixed number. They look at FOIR, the share of your take-home that can go on all your EMIs together, often capped at around 40%–50%. Subtract the EMIs you already pay, and what is left is the most a new EMI can be. The loan amount is whatever that EMI can repay at the offered rate and tenure. FOIR explained.
| FOIR limit · existing EMIs | EMI room | 11%, 24 months | 11%, 36 months | 14%, 24 months | 14%, 36 months |
|---|---|---|---|---|---|
| 40% · ₹0 | ₹16,000 | ₹3,43,000 | ₹4,88,000 | ₹3,33,000 | ₹4,68,000 |
| 40% · ₹5,000 | ₹11,000 | ₹2,36,000 | ₹3,35,000 | ₹2,29,000 | ₹3,21,000 |
| 40% · ₹10,000 | ₹6,000 | ₹1,28,000 | ₹1,83,000 | ₹1,24,000 | ₹1,75,000 |
| 50% · ₹0 | ₹20,000 | ₹4,29,000 | ₹6,10,000 | ₹4,16,000 | ₹5,85,000 |
| 50% · ₹5,000 | ₹15,000 | ₹3,21,000 | ₹4,58,000 | ₹3,12,000 | ₹4,38,000 |
| 50% · ₹10,000 | ₹10,000 | ₹2,14,000 | ₹3,05,000 | ₹2,08,000 | ₹2,92,000 |
Illustrative only, rounded down to the nearest ₹1,000. Rates are examples, not an offer; Omozing’s rates start from 11% a year. The amount any lender offers depends on a full assessment of your credit report, income and existing loans.
Bars are to scale. Each ₹5,000 of existing EMIs removes about ₹1.5 lakh of borrowing capacity at this rate and tenure.
Paying off a ₹5,000-a-month EMI frees more room than almost anything else. Several app loans? SmartSwitch combines them into one EMI.
Moving from 24 to 36 months lifts the maximum by around 40%, though you pay more interest in total.
A spouse or family member’s income can be counted, raising the EMI room. How co-applicants help.
A processing fee is usually deducted upfront. At Omozing it is 3%–7% plus GST, so on ₹3 lakh a 3% fee means ₹9,000 plus ₹1,620 GST.
That meets Omozing’s minimum. Salaried, score from 600, 3–36 month tenures, two documents, and rates that start from 11% a year.
Borrow or save first?: Compare borrowing now, saving first, or saving a few months and borrowing only the gap. Salary Day game: Split your salary, survive a month of surprises and see where the money goes.
Possibly, if you have no other EMIs and choose 36 months: at 50% FOIR and 11% a year the illustrative maximum is about ₹6.1 lakh. With existing EMIs it is likely to be less.
Lenders usually work from take-home, the salary credited to your bank account. Omozing’s minimum is a take-home of ₹40,000 a month.
FOIR is the share of your take-home that goes on all your EMIs together. Many lenders cap it at around 50%.
Yes. It affects whether you are approved, the rate you are offered and sometimes the amount. A higher rate means a smaller maximum for the same EMI.
Multiply your take-home by the lender’s FOIR limit (often around 0.5), subtract your current EMIs, and that is your EMI room. The loan amount is what that EMI repays at the given rate and tenure.
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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.