What is foair

[kailaapatil]

Plz give information Foair

 

[nikhilchauhan]

I think you are asking about FOIR which is Fixed Obligation to Income Ratio. It is majorly used in loans because your FOIR is a way to know if you will be able to pay the obligated EMI. For example, if your income is 35k but the EMI of loan which you are going to take is 30k then it means that your FOIR is low and you might not get loan because of this reason.

 

[abhimarda]

I think you are asking about FOIR which is Fixed Obligation to Income Ratio. It is majorly used in loans because your FOIR is a way to know if you will be able to pay the obligated EMI. For example, if your income is 35k but the EMI of loan which you are going to take is 30k then it means that your FOIR is low and you might not get loan because of this reason.

FOIR is low or high? You don't get a loan if FOIR is high.

 

[nikhilchauhan]

If FOIR is less than 40 percent then it is considered good by bank to give you the loan. It means that you can easily repay EMI of loan.