In the paper modeling of main inductances for mathematical models of induction motors is applied to study the effects caused by a rotor eccentricity and saturation effects. All three possible types of eccentricity: static, dynamic and mixed are modeled. The most important parameters describing rotor eccentricity include self and mutual inductances of the windings. The structural changes of the permeance function as a result of eccentricity appearance and the Fourier spectra of inductances in occurrence of saturation for each case are determined in the paper. The presented algorithm can be used for the diagnostically specialized models of induction motors.