Home Loan Eligibility Calculator Online

Home Loan Eligibility Calculator

Home Loan Eligibility for Banks in 2025

HDFC Home Loan Eligibility	Age: 18 to 70 years Max loan Tenure: Up to 30 years Loan Amount: Up to Rs.10 crore
SBI Home Loan Eligibility	Age: 18 to 70 years Max loan Tenure: Up to 30 years Loan Amount: Decided by the lender
Axis Bank Home Loan Eligibility	Age: 21 to 60 years Max loan Tenure: Up to 30 years Loan Amount: Up to Rs.3 crore
LIC HFL Home Loan Eligibility	Age: 21 to 60 years Max loan Tenure: Up to 30 years Loan Amount: Rs.1 lakh onwards
BoB Home Loan Eligibility	Age: 21 to 70 years Max loan Tenure: Up to 30 years Loan Amount: Up to Rs.10 crore
PNB Home Loan Eligibility	Age: 18 to 70 years Max loan Tenure: Up to 30 years Loan Amount: Up to 90% of the market value
Canara Bank Home Loan Eligibility	Age: 21 to 55 years Max loan Tenure: Up to 30 years Loan Amount: Up to Rs.10 crore
IDBI Bank Home Loan Eligibility	Age: 22 to 70 years Max loan Tenure: Up to 30 years Loan Amount: Up to Rs.10 crore
Indiabulls Home Loan Eligibility	Age: 21 to 65 years Max loan Tenure: Up to 30 years Loan Amount: Up to Rs.15 crore

Once you have figured out your eligibility for a home loan, you can check home loan interest rate for all banks and apply for the one that suits you best.

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How to Check Home Loan Eligibility with BankBazaar?

Here is the process:

1. Visit the BankBazaar website and go to the Home Loan Eligibility Calculator.

1. Choose your type of employment from the given options.

1. Enter your gross monthly income and click 'Continue'.

1. Enter the PIN code of your current address.

1. Select the purpose of your home loan.

1. Enter your mobile number.

1. Check the box to give contact permission.

1. Enter your full name, date of birth, and email ID, then click 'Continue'.

1. Enter the OTP sent to your mobile and click 'Submit'.

1. See all the eligible home loan offers and compare them.

After this step, you will be able to check all the home loan offers that you are eligible for and apply for a home loan. You can also consider using the BankBazaar Home Loan EMI Calculator to calculate your effective EMI amounts for the home loan product that you want to choose.  

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How Home Loan Eligibility is Calculated?

Chandra Patra is an employee of a leading company in India. His salary break up is mentioned below:

Income	Amount	Deductions	Amount
Basic	32,000	Income Tax	3,300
HRA	900	Provident Fund	2,200
Conveyance	10,000	-	-
LTA	9,000	-	-
Special Allowance	55,000	-	-
Medical expenses	2,000	-	-
Total	1,08,900	Net Income	1,03,400

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Let us consider that Chandra has no loans or liabilities at present and his net available income is Rs.1,03,400. However, you must always remember that the Leave Travel Allowance is not taken into consideration by the bank when calculating the salary. The medical allowance is also excluded from the calculation. This is because these expenses are not derived by an individual with his/her salary. In this case, Chandra will only get these amounts as reimbursements, in case he spends on medical needs or travel requirements.

Thus, the bank or the lender will deduct that LTA and medical expenses from the net income. Chandra's net income now stands at Rs.1,03,400 - Rs.(9,000 + 2,000), which is equal to Rs.92,400. Thus, the loan eligibility for Chandra Patra stands at Rs.92,400 x 60 = Rs.55,44,000. In the case of a home loan, EMI is restricted to a maximum of 40% to 50% of the net income (monthly) by most banks. This suggests that you are eligible for a home loan where the equated monthly instalment is not more than 50% of your monthly income.

What are the Factors that Affect Home Loan Eligibility

1. Age: Younger people (20s-30s) usually get longer loan terms; it’s harder for people over 40 to get long-term loans.

1. Income: A steady income is important, whether you’re salaried, self-employed, or a professional.

1. Documents: You’ll need to show things like salary slips, tax returns, and bank statements to prove your income.

1. Interest Rate: Lower interest rates can improve your loan eligibility; higher rates might reduce it.

1. Loan Term: Longer loan terms mean lower EMIs, which can help with eligibility, but you'll pay more interest over time.

1. Other Loans: Lenders check your current debts. Keeping your debt-to-income ratio below 50-60% is ideal.

1. Credit Score: A good credit score shows you're reliable with payments; a poor score can hurt your chances of getting a loan.

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How to Check Home Loan Eligibility for Salaried and Self-Employed?

Home loan rules are mostly the same for both salaried and self-employed people. But things like minimum income and work experience may be different.

If you work for a private company, check with the bank to see how much income and job experience you need.

Tips to Boost Your Home Loan Eligibility

1. Improve Your Credit Score: Pay your bills on time, use less of your credit limit, and avoid taking on too much new credit.

1. Make a Bigger Down Payment: Putting more money upfront reduces how much you need to borrow and lowers your monthly payments.

1. Reduce Your Debt-to-Income Ratio: Try to pay off existing debts or increase your income to show lenders you can handle a new loan.

1. Get Pre-approved: This shows sellers you’re serious and gives you a clear idea of how much you can borrow and what your EMIs might be.

1. Consider a Co-signer: If your credit or income isn’t strong enough, having a co-signer can improve your chances of getting the loan.

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A good credit score can help you secure lower interest rates on loans and credit cards.

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FAQs on Home Loan Eligibility Calculator

• How to Check Home Loan Eligibility Based on Salary?

  As mentioned earlier, home loan lenders determine the eligibility of an applicant for a home loan on the basis of their monthly income (in addition to other factors). The salary is taken into consideration to identify the loan repayment capability of the applicant. The LTV ratio or the Loan-to-Value ratio is used to assess the risk factor involved in the case of a loan disbursal.

• Who are eligible for a joint home loan?

  The eligibility for a joint home loan is dependent on the relationship of the co-applicants. The co-applicants have to be related in order to be eligible for a joint home loan.

• What is the role of a co-applicant in home loan eligibility?

  You can avail of a home loan along with a co-applicant to increase the chances of the loan approval. The main role of a co-applicant is to repay the home loan along with you (if you are the main borrower).

• What are the eligibility criteria for home loan Subsidy?

  The Central Government, through the Ministry of Housing and Urban Poverty Alleviation, has launched the Pradhan Mantri Awas Yojana scheme under which beneficiaries can avail subsidies on their respective home loans. As per the terms and conditions of the PMAY scheme, applicants will be categorised under 4 broad categories - EWS, LIG, MIG 1, and MIG 2. PMAY eligibility criteria for these groups are decided on the basis of the annual family income.

• How to improve home loan eligibility?

  Home loan eligibility cannot be assessed easily. For most lenders, the conditions may vary. In addition to that, the banks and lenders will be considering your present liabilities, income, assets, etc. while calculating your home loan eligibility. In case the mortgage requirement is slightly higher than the eligible loan amount, some changes in the way you present yourself can help in increasing the eligibility factor.

• Can I get a top up loan in addition to my existing home loan?

  Yes, you can get a top up loan in addition to your existing home loan. However, in order to be eligible for the same, you will be required to make regular repayments for your existing loan.

• Are my children eligible to be co-applicants for my home loan?

  Yes, your parents, children, and spouse are considered eligible for being co-applicants for the home loan.

• Am I eligible for tax benefits if I take a home loan?

  Yes, you can avail of tax benefits when you take home a loan from a bank or a financial institution under Section 80C and Section 24 under the IT Act.

• Will I be eligible for a home loan if I have a bad credit score?

  In case you have a poor credit score, it will be difficult for you to get a home loan. Banks or financial institutions consider your credit report to be of great value while determining your eligibility towards a loan. If you have a good scores, banks will be happy to offer you a home loan with attractive rates of interest. However, with a bad score lenders will doubt your repayment capability and might not consider you to eligible for a home loan.

• Is it mandatory to have a co-applicant while applying for a home loan?

  Although there is no mandate for having a co-applicant for a home loan in India, most of the lenders (both public and private) insist on having one to ensure the guarantee in regard to the repayment of the loan amount. In addition to that, having a co-applicant while applying for a home loan will also boost your home loan eligibility. Nevertheless, it should be kept in mind that there is no legal requirement for having a co-applicant when applying for a home loan.

• What is meant by the market value of a property?

  The price of a property which is agreed upon by both the seller and a buyer for a transaction is called the market value of that property. In easier terms, the price of the property at which the seller is ready to sell the property and a buyer is ready to purchase the property is the market value of the property.

• What is the process of disbursement for an under-construction property?

  In the case of under construction property, the loan amount is disbursed by the lender in instalments and is based on the assessment of the lender and not the developer. The loan amount is disbursed on the basis of the progress of the construction of the property.