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Home Loan Eligibility Calculator

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About Eligibility Calculator

Know how a bank provides a deal for their customers

Lenders have drafted a set of parameters for borrowers that are to be fulfilled while availing for a home loan. Home loan eligibility criteria include age, income, work experience, and credit history.

Any salaried, self-employed or professional individual can apply for a home loan, provided he meets the eligibility criteria mentioned below


Age criteria: An applicant must be 21 years or above


Income criteria: Before granting a home loan, the lender carries out an assessment of the applicant’s incomes and expenditures. The borrower needs to have a regular source of income to enhance the chances of home loan approval as it attests the borrower's repayment capacity. For self-employed individuals, the home loan value approved is dependent on the profit earnings shown in the yearly accounts.

Credit History: One of the crucial eligibility criteria for getting a home loan approved is the borrower's credit history. A clean credit history will help you get home loan without any hassle. This includes timely payment of credit card bills and other personal loans.

Frequently Asked Questions

Know what questions the users frequently asks about Eligibility Calculator
What are the eligibility criteria for a home loan?
There is an eligibility criterion that banks have before they go ahead sanctioning it. A few important of them are employment stability, age criteria, credit rating, financial stability etc.
How is eligibility for home loan calculated?
Some steps to calculate your home loan eligibility are:
1.To calculate the income level, banks will investigate your salary slips and bank statements.
2.Next, it calculates the amount saved assuming that 30% of your savings is from your INCOME.
3.If there are existing loans, the EMI is reduced from the income level.
4.According to the income level and savings, the bank calculates a home loan amount.
What is the minimum salary for home loan?
Banks usually up to 60 times your monthly net income (salary). You can calculate your home loan eligibility using the home loan eligibility calculator.
What are the eligibility requirements for an NRI seeking a home loan?
Following are the eligibility criteria for an NRI seeking home loan:
1.An Indian citizen holding a valid Indian passport.
2.The passport should be free from NO ENTRY stamp. This stamp does not allow an NRI to enter the country.
3.The passport of the NRI applicant should have a valid entry visa.
4.Valid PIO/OCI Card copy to be documented with foreign country passport for PIO/OCI.