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Home Loan Eligibility

Home Loan Eligibility Calculator is one of the most helpful financial tools. Basically a home loan eligibility based on your salary. Home Loan Eligibility Calculator with co-applicant makes your home loan eligibility with higher. Almost every bank has different home loan eligibility criteria. To use Home Loan Eligibility Calculator you need to put some key information like- Your monthly salary, where you work or if you are self-employed what is your yearly turnover. There are so many things which affect your home loan eligibility. If you are going for a Home Loan apply online you should first check for your home loan eligibility.

Factors that affects Home Loan Eligibility Calculator

You can check your Home Loan Eligibility Online easily by just clicking a button. The minimum home loan eligibility based on Cibil Score is 650. The minimum home loan eligibility age is 21 years and the maximum is 65. The Home Loan Eligibility minimum salary is Rs.25, 000

Home Loan Eligibility Calculator helps you to calculate your Home Loan Eligibility based on your inputs so here are the factors which affect your Home Loan Eligibility Calculator.

  • Applicant’s Age

    The applicant’s age is important on Home Loan Eligibility criteria. The age group for Home Loan eligibility is 21 to 65 years old. The younger you are there are much chance that you are more eligible for a Home Loan. You will even get offers you are applying for a Home Loan in younger age. Because you’re Home Loan eligibility is higher when you are applying it in younger age.

  • CIBIL Score

    Your CIBIL Score matters a lot on your Home Loan eligibility. If you have high CIBIL Score that means your Home Loan Eligibility is high and if you have low CIBIL Score your Home Loan Eligibility is low. Your CIBIL Score depends on how you pay your Home Loan. To make your CIBIL Score high you need to repay your Home Loan on time.

  • Employment

    Your employment stability matters a lot on your Home Loan eligibility. If you are a salaried person your employer also matters as every financial institution have a company list and if your employer is in the CAT A list your Home Loan Eligibility will be high. And if you are working there more than two years your Home Loan Eligibility will be high. And if you are self-employed you must run your business at least for five years to have high Home Loan eligibility. And if you are working with a top notch company you salary is also high and if you are in a high position that means you will have a bright career ahead so your Home Loan Eligibility will be high.

  • Existing Debt

    If you are someone who has existing debt on his neck your Home Loan Eligibility is comparatively low. As you are already paying EMIs on those and if you are taking a new one this can be your liability and you won’t get any loan if your existing loans has already consumed 40% your monthly income.

  • GeographicalLocation

    Geographical locations matters a lot on your Home Loan Eligibility as if you are from metro city you have higher Home Loan Eligibility than someone from rural areas. Also some financial institution has red marked on some places so if you are from one of those places your Home Loan Eligibility can be lower.

  • LTV

    In Home Loan Banks only fund 75% to 90% of the total cost of the house. The maximum home loan value of your property or LTV is specified by RBI in below:

    • 90% LTV for loans up to Rs. 30 lakh for buying affordable segment homes
    • 80% LTV for loans above Rs. 30 lakhs and up to Rs. 75 lakhs
    • 75% LTV for loans above Rs. 75 lakhs

How to increase your Home Loan Eligibility?

It is not easy to make your Home Loan Eligibility higher in a second it will take much time. Before you take a home loan must take some time so you can clear your existing debts and if your CIBIL is lower must work on it so your home loan eligibility can be higher. The financial institution you are going to approach for your home loan they will ask for your home loan eligibility and here is the list how you can increase your home loan eligibility.

  • Clear Existing Debts

    If you are going to avail a home loan, first you should check your home loan eligibility in India. Your CIBIL Score matters a lot in your home loan interest rate. And your CIBIL Score reflects that how you repaid your loans, so make sure that you have paid all your existing debts and don’t go for any kind of settlement pay your EMIs timely to higher your home loan eligibility.

  • Variable Pay and Other Incomes

    You must keep a track on your variable pay which you get with your salary. It also helps you to show you have higher income amount and will make your home loan eligibility higher. And don’t forgot to add if you have any other income like if you have a house and you earn money from that house by giving it on rent you must have a track on it and must include it with your income and can make your home loan eligibility higher.

  • Spouse’s Income

    If your spouse has a regular income source you can take her as your co applicant which can make your home loan eligibility higher.

Home Loan Eligibility list of Financial Institutions

Financial Institution Name Loan Amount Eligibility for Max Tenure Age of Eligible Borrower Maximum Loan on Property Value
SBI Home Loan Eligibility Criteria Rs. 10 Cr for 30 Years 18 to 70 years Up to 90%
HDFC Home Loan Eligibility Criteria Rs. 10 Cr for 30 Years 24 to 60 years Up to 90%
ICICI Bank Home Loan Eligibility Criteria Rs. 10 Cr for 30 Years 21 to 60 years Up to 90%
Axis Bank Home Loan Eligibility Criteria Rs. 5 Cr for 30 Years 24 to 60 years Up to 90%
PNB Housing Finance Home Loan Eligibility Criteria Rs. 10 Cr for 30 Years 21 to 70 years Up to 90%
Bank of Baroda Home Loan Eligibility Criteria Rs. 10 Cr for 30 Years 21 to 60 years Up to 90%
LIC Housing Finance Home Loan Eligibility Criteria Rs. 5 Cr for 30 Years 21 to 60 years Up to 80%
Indiabulls Home Loan Eligibility Criteria Rs. 3 Cr for 25 Years 23 to 65 years Up to 90%
Citibank Home Loan Eligibility Criteria Rs. 10 Cr for 25 Years 23 to 60 years Up to 80%
DBS Bank Home Loan Eligibility Criteria Rs. 5 Cr for 20 Years 21 to 60 years Up to 80%
DHFL Home Loan Eligibility Criteria Rs. 5 Cr for 30 Years 21 to 60 years Up to 80%
Kotak Bank Home Loan Eligibility Criteria Rs. 5 Cr for 20 Years 21 to 60 years Up to 80%
Jammu And Kashmir Bank Home Loan Eligibility Criteria Rs. 5 Cr for 15 Years 21 to 60 years Up to 80%
Edelweiss Home Loan Eligibility Criteria Rs. 5 Cr for 25 Years 21 to 60 years Up to 80%
Canara Bank Home Loan Eligibility Criteria Rs. 10 Cr for 30 Years 21 to 55 years Up to 80%
Tata Capital Home Loan Eligibility Criteria Rs. 1 Cr for 30 Years 21 to 65 years Up to 90%
Standard Chartered Bank Rs. 15 Cr for 20 Years 21 to 60 years Up to 80%
Syndicate Bank Home Loan Eligibility Criteria Rs. 5 Cr for 30 Years 21 to 60 years Up to 90%
Lakshmi Vilas Bank Home Loan Eligibility Criteria Rs. 5 Cr for 20 Years 21 to 65 years Up to 80%
IDBI Bank Home Loan Eligibility Criteria Rs. 10 Cr for 30 Years 22 to 70 years Up to 90%
IDBI Bank Home Loan Eligibility Criteria Rs. 10 Cr for 30 Years 22 to 70 years Up to 90%
DCB Bank Home Loan Eligibility Criteria Rs. 10 Cr for 20 Years 21 to 60 years Up to 80%
LT Housing Finance Home Loan Eligibility Criteria Rs. 10 Cr for 30 Years 23 to 65 years Up to 90%
PNB Home Loan Eligibility Criteria Rs. 1 Cr for 30 Years 21 to 60 years Up to 80%
RBL Bank Home Loan Eligibility Criteria Rs. 10 Cr for 25 Years 24 to 60 years Up to 90%
Karnataka Bank Home Loan Eligibility Criteria Rs. 5 Cr for 30 Years 21 to 60 years Up to 80%
Federal Bank Home Loan Eligibility Criteria Rs. 15 Cr for 30 Years 21 to 60 years Up to 85%
Central Bank of India Home Loan Eligibility Criteria Rs. 10 Cr for 30 Years 18 to 60 years Up to 90%
IDFC First Bank Home Loan Eligibility Criteria Rs. 10 Cr for 30 Years 21 to 60 years Up to 85%
UCO Bank Home Loan Eligibility Criteria Rs. 5 Cr for 30 Years 18 to 60 years Up to 90%
Dhan Laxmi Bank Home Loan Eligibility Criteria Rs. 2.50 Cr for 20 Years 21 to 60 years Up to 80%
Bank of India Home Loan Eligibility Criteria Rs. 5 Cr for 30 Years 21 to 60 years Up to 80%
IIFL Home Loan Eligibility Criteria Rs. 5 Cr for 30 Years 18 to 70 years Up to 90%
Reliance Capital Home Loan Eligibility Criteria Rs. 5 Cr for 30 Years 21 to 60 years Up to 80%
Karur Vysya Bank Home Loan Eligibility Criteria Rs. 5 Cr for 25 Years 21 to 60 years Up to 75%
GIC Housing Finance Home Loan Eligibility Criteria Rs. 3 Cr for 20 Years 21 to 60 years Up to 80%
Corporation Bank Home Loan Eligibility Criteria Rs. 5 Cr for 30 Years 18 to 65 years Up to 90%
Allahabad Bank Home Loan Eligibility Criteria Rs. 5 Cr for 20 Years 21 to 60 years Up to 90%
Union Bank of India Home Loan Eligibility Criteria Rs. 5 Cr for 30 Years 21 to 60 years Up to 80%
OBC Home Loan Eligibility Criteria Rs. 3 Cr for 25 Years 18 to 60 years Up to 80%
Indian Overseas Bank Home Loan Eligibility Criteria Rs. 5 Cr for 30 Years 21 to 60 years Up to 80%
Bank of Maharashtra Home Loan Eligibility Criteria Rs. 10 Cr for 30 Years 21 to 60 years Up to 70%
Yes Bank Home Loan Eligibility Criteria Rs. 5 Cr for 25 Years 21 to 60 years Up to 90%
South Indian Bank Home Loan Eligibility Criteria Rs. 5 Cr for 30 Years 21 to 65 years Up to 90%
HSBC Bank Home Loan Eligibility Criteria Rs. 10 Cr for 25 Years 21 to 60 years Up to 80%
Andhra Bank Home Loan Eligibility Criteria Rs. 10 Cr for 30 Years 21 to 65 years Up to 90%
United Bank of India Home Loan Eligibility Criteria Rs. 3 Cr for 30 Years 21 to 60 years Up to 90%
Punjab and Sind Bank Home Loan Eligibility Criteria Rs. 5 Cr for 30 Years 21 to 70 years Up to 80%


*Interest rate and Loan approval are subjected to band discretion and approval.

FAQ’s

The minimum CIBIL Score as per Home Loan Eligibility is 650.
The minimum home loan eligibility age is 21.
The minimum salary for home loan eligibility is Rs.25,000
The loan repayment tenure for home loan is 30 years.
Home Loan Eligibility is calculated as-
  • Total net monthly salary of the applicant and co-applicant.
  • Quantum of loans and credit card outstanding that you already have. Typically a bank will not give a loan if the total EMI obligation (including the current home loan that your are trying to apply for) exceeds 50-60% of your total net take home salary.
  • Loan to asset Value (LTV) ratio of 75% which means that the customer has to fund the remaining 25% through his savings or any other source.

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