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Home Loan Eligibility Calculator

Calculate Your Home Loan Eligibility

Monthly Income Rs.

0Rs.5 Lakh

Monthly Obligations Rs.

0Rs.5 Lakh

Congratulations! You are eligible for a loan amount of up to Rs. 0

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What is Home Loan Eligibility?

What is Home Loan Eligibility?

The eligibility for a Home Loan is based on various factors, such as monthly income, current age, credit score, fixed monthly financial obligations, credit history, and retirement age.

Home Loan eligibility refers to a predefined set of criteria used by financial institutions to evaluate your creditworthiness for obtaining and repaying a specific loan amount.

Bajaj Housing Finance presents you with a Home Loan Eligibility Calculator that can help you gauge the Home Loan amount you are eligible for, based on your income and finances.

What is a Home Loan Eligibility Calculator?

What is a Home Loan Eligibility Calculator?

A Home Loan Eligibility Calculator is a free, online tool that assists borrowers in determining the Home Loan amount they are eligible for. Based on your city of residence, date of birth, monthly income, and monthly obligations, it calculates the loan amount you are eligible for. The calculator is easily accessible and saves you the effort of calculating the loan amount manually.

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Home Loan Eligibility Criteria

If you are looking for a housing loan from Bajaj Housing Finance, you should meet the eligibility parameters, including:

Eligibility Parameters Requirements to Fulfil
Employment Type Both salaried and self-employed applicants can apply for a Home Loan
Age For salaried: From 23 to 75 years**
For self-employed: From 25 to 70 years**
Residential Status and Citizenship Salaried applicants must be an Indian citizen (including NRIs)
Self-employed applicants must be Indian (resident only)
Work Experience/Business Vintage For salaried: Minimum 3 years of work experience
For self-employed: A vintage of no less than 5 years in the current business
Ideal Credit Score for Home Loan An ideal credit score of 750 and above

**The upper age limit is considered as the age at the time of loan maturity. Additionally, the upper age limit is subject to change, depending on the property profile.

Note that the Home Loan eligibility requirements are indicative and can include additional criteria.

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Check Your Home Loan Eligibility

Purchasing a home can provide you and your family with a sense of security and stability. Home Loans can help individuals achieve their dream of homeownership. As discussed earlier, eligibility for a Home Loan is determined based on factors such as income, credit history, financial stability, age, and property value.

You can use the Bajaj Housing Finance Home Loan Eligibility Calculator to understand the approximate loan amount you can be eligible for. By doing so, you can conduct a more focused property search and estimate the down payment you need to make to match up.

Let’s understand this with an example. Mr. Iyer is a 30-year-old employee working in a reputable MNC in Chennai with a monthly income of Rs.1,40,000. Here is a breakdown of his salary and total liabilities for every month:​

Sources of Income Amount (in Rs.) Obligations Amount (in Rs.)
Basic 65,000 Income Tax 10,000
HRA 22,000 Monthly Rent 20,000
Conveyance 10,000 Other fixed obligations 20,000
LTA 5,000 -- --
Other Allowances 33,000 -- --
Medical Expenses 5,000 -- --
Total Income 1,40,000 Total Obligations 50,000

Considering all fixed obligations of Mr. Iyer, his disposable income available for payment of Home Loan EMIs is Rs.90,000 (Rs.1,40,000 – Rs.50,000).


How to Use a Housing Loan Eligibility Calculator?

The Bajaj Housing Finance Home Loan Eligibility Calculator allows users to assess the approximate loan amount they can avail of based on various eligibility factors. Follow the below mentioned step-by-step guide to check Home Loan eligibility with our loan amount eligibility calculator:

  1. Enter your date of birth in the date-month-year format.
  2. Select your city of residence from the dropdown menu. The city selected helps the housing loan eligibility calculator determine your loan amount suitability as per your income and the market price of the house to be purchased.
  3. Enter or slide to add your monthly salary or income (including any additional sources of earning) in ‘Rupees’.
  4. Provide your existing financial obligations, such as EMIs payable, fixed expenses, and outstanding credit card balances.

Once you enter the required values, the loan eligibility calculator provides an accurate and quick estimate of the loan amount you can avail of conveniently as per your current eligibility.

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Factors Affecting Housing Loan Eligibility

The eligibility for a Home Loan is calculated based on multiple factors that a lender uses to determine a borrower’s capability to repay and the risk involved in lending. The basic factors that determine your Home Loan eligibility include your income and repayment capacity.

Other essential factors include your age, financial and employment profile, place or city of residence, credit profile, which includes your CIBIL score and bureau report, existing repayment liabilities, etc. These factors also contribute to determining your interest rate, whereby low-risk profiles attract lower interest rates and vice versa.

Provide all necessary documents required for a housing loan to confirm your eligibility when applying. Here is a break-up of the effects of different eligibility factors on the Home Loan amount and the interest levied:

  • Income and Employment Profile: A high monthly/annual income indicates an increased capacity to repay the Home Loan. A high income also indicates a reduced risk of default. Similarly, the employment profile of a borrower also impacts their eligibility. A salaried employee working with a recognised company stands a better chance of securing a substantial loan at competitive rates. Self-employed individuals with established business profiles can also negotiate for the required loan amount with the right profile.
  • Age: Borrowers stand a better chance of availing of a sizeable Home Loan, which can be repaid over a long tenor. Individuals nearing their retirement age can avail of a Home Loan too, although for a shorter repayment tenor.
  • Credit Profile: A borrower’s credit profile depends on multiple factors, including their repayment history, credit habits such as debt repayment, credit utilisation, debt-to-income ratio, and credit mix, among others. The credit score and report numerically sum up these parameters, with a high score indicating a reliable credit report and a creditworthy profile.

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What Home Loan Amount Can You Avail of Based on Your Salary?

Home Loan eligibility differs with the applicant’s age and income. For salaried individuals, their net monthly income determines their maximum loan eligibility. Given below is the estimated housing loan eligibility for salaried individuals based in Bhopal as per their monthly income variations.

New Monthly Income (Rs.) Maximum Home Loan Eligibility (Rs.)
25,000 18,69,000
35,000 26,16,000
45,000 33,64,000
55,000 41,11,000
65,000 48,59,000
75,000 56,06,000

*The values in the preceding table are for illustrative purposes only. Actual values may vary based on the individual’s profile and loan requirements.


Tips to Increase Home Loan Eligibility

Applicants should check their eligibility before applying and take the necessary measures to improve their profile for easy loan approval. The below tips can help improve your chances of quick loan approval.

Apply with a Financial Co-applicant

A Home Loan with a financial co-applicant represents the combined eligibility of both applicants. Make sure to choose a co-applicant with a high income, reliable credit score, and clean repayment history for improved eligibility.

We recommend applicants use our free Home Loan Eligibility Calculator online to assess the maximum loan amount available when applying with a co-borrower. Co-borrowing a Home Loan also comes with individual tax benefits for both borrowers.

Select an Extended Loan Tenor

Opt for an extended tenor for Home Loan repayment to improve your eligibility. A longer tenor divides the total repayment liability into a higher number of months and brings down the EMIs.

Individuals with limited income can improve their repayment feasibility and overall loan eligibility by selecting a longer tenor and smaller EMIs. Use a Home Loan EMI Calculator to select a suitable repayment tenor as per your income.

Repay Existing Debts

The repayment of existing loans enhances your chances of Home Loan approval. This is because paying off debts reduces your total liability, thereby increasing your capacity to repay. For instance, repaying any outstanding liability on vehicle or personal loans improves Home Loan eligibility. Check your loan eligibility with an eligibility calculator to confirm increased repayment capacity.

Document All Sources of Income

When submitting financial documents, include all sources of income, such as salary (if salaried applicant), business profits (if self-employed), monthly rental earnings, and income from investments, among others, to improve your Home Loan eligibility amount.

Take Necessary Measures to Improve Credit Score

Taking necessary measures to improve your credit score also enhances your overall credit profile, and therefore, Home Loan eligibility. Making timely repayment of debts and limiting credit utilisation will help you improve your credit score.

Include Any Variable Annual Pay in Your Income Documents

When providing Home Loan documents, include any variable pay received annually, such as yearly bonuses, and incentives, to try and increase your overall loan eligibility. Add the amount when entering income value in a housing loan eligibility calculator to determine your actual eligibility for the Home Loan amount.

*Terms and conditions apply.

Disclaimer_WC HL eligibility cal


This calculator is provided for general information purposes only and should not be considered as financial advice. The results obtained from the calculator are estimates based on your inputs and may not reflect the actual terms or conditions of any loan. Users are responsible for verifying the accuracy of the calculator. Actual loan figures may vary based on specific loan products, interest rates, individual financial circumstances, and parameters laid down by Bajaj Housing Finance Limited (‘BHFL’).

Users are advised to consult with a qualified financial advisor to obtain accurate and personalized advice regarding their specific loan needs. The use of and the results of this calculator do not guarantee approval for a loan. Sanction and disbursal loans are at the sole discretion of BHFL. The calculator does not take into account the potential fees or charges levied while availing the loan. Users should carefully review the terms and conditions of any loan agreement before making financial decisions.

By using this calculator, the Users agree that placing reliance on the aforementioned information shall always be the sole responsibility and decision of the User and the User shall assume the entire risk of any use made of this information. In no event shall BHFL or the Bajaj Group, its employees, directors or any of its agents or any other party involved in creating, producing, or delivering this Website shall be liable for any direct, indirect, punitive, incidental, special, consequential damages (including lost revenues or profits, loss of business or loss of data) or any damages whatsoever connected to the User’s reliance on the aforementioned information.

Home Loan Eligibility Calculator FAQs_WC

Home Loan Eligibility Calculator FAQs

A housing loan eligibility calculator can be used for the purpose of establishing your Home Loan eligibility, depending on your salary. Here is how you can use the Bajaj Housing Finance Home Loan Eligibility Calculator:

  1. From the drop-down menu, choose your city of residence.

  2. Enter your birth date.

  3. Enter your monthly income.

  4. Enter your existing financial obligations.

Based on the information you provided, the Home Loan amount you are eligible for will be displayed on screen.

The minimum salary required for a Home Loan is Rs.30,000, earned monthly. Ensure that you account for all your income sources while declaring your monthly income to optimise your chances of securing a good Home Loan deal.

While applying for a Home Loan, younger applicants can enjoy the advantage of long repayment tenor considering their salary earning years and repayment capacity. Older applicants can also apply, but they may be offered steeper rates.

You can use the Bajaj Housing Finance Eligibility Calculator to establish the Home Loan you can receive on a salary of Rs.50,000.

Consider this as an example: An applicant residing in Pune, of an eligible age of 27 years with a monthly income of Rs.50,000 without any existing financial obligations, can receive a Home Loan of Rs.39,01,609 as per the calculator. 

Financial institutions conduct a background check before issuing a loan to a person to ascertain if the applicant is capable of repaying a loan or not. They also determine the loan amount to be sanctioned if the borrower can repay the loan. The process of determining a borrower's eligibility for a loan is known as determining their creditworthiness.

The following factors can affect your Home Loan eligibility:

Income and Employment Profile: Having a higher monthly income demonstrates an improved ability to repay a Home Loan and decreases the risk of defaulting. Additionally, employment status, whether as a salaried worker at a reputable company or a self-employed individual with a well-established business history, is significant in determining eligibility for a Home Loan at competitive interest rates.

Age: Younger borrowers are more likely to avail of a substantial Home Loan with a long repayment tenor given their repayment capacity. Borrowers nearing their retirement age can also avail of a Home Loan, typically with a shorter repayment tenor.

Credit Profile: A borrower's credit profile depends on several factors, including their repayment history, and credit habits (such as debt repayment, credit utilisation, debt-to-income ratio, and credit mix), among others. The credit score and report summarise these parameters numerically, with a high score indicating a creditworthy profile.

The Home Loan Eligibility Calculator uses a mathematical formula to calculate the loan amount you are eligible for. The calculator uses information such as city, date of birth, monthly income, and monthly obligations to display the loan amount you can avail of.


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