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Check Housing Loan Eligibility with Home Loan Eligibility Calculator

5 min 12 Jul 2023
  • Understand Home Loan Eligibility
  • Factors Affecting Home Loan Eligibility
  • How to Check Home Loan Eligibility
  • Tips to Increase Home Loan Eligibility

Buying the house of your dream may not always be a cakewalk – with the prices of properties increasing over time, you will need a robust financial backup to see you turn it into reality. A home loan, in this case, can be the best option for you considering the affordable EMIs, attractive home loan interest rate, balance transfer benefits etc. However, in order to get the desired amount sanctioned by the lender, you will need to first ensure your housing loan eligibility. Here, in this article, you can find out how to check your eligibility for a housing loan using an online calculator.  

Understand Home Loan Eligibility 

Neither banks nor NBFCs approve a loan without looking into the borrower’s background and assessing their repayment abilities. Housing loan eligibility is measured on the basis of a few parameters, such as the applicant’s age, nationality, employment status and years of experience, income, credit history and credit score etc. All potential borrowers, whether salaried or self-employed, must fulfil these criteria to be eligible to apply for a home loan. It is on the basis of these that the lender evaluates if they are worthy of repaying the entire loan amount on time. 


Salaried Borrowers

Self-employed Borrowers


23-62 years** 

25-70 years 

Minimum Work Experience 

3 years in the public/private sector companies or MNCs 

5 years of business entity continuity 

Minimum Income 

INR 25,000/- 

CIBIL Score 




**Note: The upper age limit is considered as age at the time of loan maturity.  

Minimum Home Loan Eligibility for Banks in 2023

The desired eligibility criteria for home loans may vary from one lending institution to another. Currently, taking the market conditions into consideration, here is a table showing the comparison of minimum home loan eligibility criteria set by the different banks in India in the year 2023 – 

Name of the Bank/Financial Institution 

Age Limit 

Repayment Tenor 

Eligible Loan Amount 

Axis Bank` 

21-60 years 

Up to 30 years 

Up to INR 3 Crores 

Bank of Baroda 

21-60 years 

Up to 30 years 

Up to INR 10 Crores 

Canara Bank 

21-55 years 

Up to 30 years 

Up to INR 10 Crores 

DHFL Bank 

18-70 years 

Up to 30 years 

Up to 90% of the market value 

HDFC Bank 

18-70 years 

Up to 30 years 

Up to INR 10 Crores 

IDBI Bank 

22-70 years 

Up to 30 years 

Up to INR 10 Crores 


21-65 years 

Up to 30 years 

Up to INR 15 Crores 


21-60 years 

Up to 30 years 

INR 1 Lakh onwards 

Punjab National Bank 

18-70 years 

Up to 30 years 

Up to 90% of the market value 

State Bank of India 

18-70 years 

Up to 30 years 

Determined by the lender 

Factors Affecting Home Loan Eligibility

The top factors affecting housing loan eligibility are discussed below in detail for applicants –

1. Age of the Applicant  

Lenders usually prefer borrowers applying for a home loan in the early stage of their careers. This is because the younger you are at the time of applying for a home loan, the more time you have to sort your finances and repay the amount comfortably. On the other hand, applying for a loan at a later age, say, a couple of years before retirement leads banks and financial institutions to reject or delay the sanctioning of the loan.  

2. Income  

The net monthly income of the applicant acts as an important determining factor for home loan eligibility as the lender assesses their repayment ability on the basis of their monthly earnings. An income below the minimum, say INR 25,000, may project the applicant as a high-risk borrower in the eyes of the lender.  

3. Type of Employment  

Having a stable and demonstrated employment history can make it easier for you to get a home loan. For salaried individuals, a minimum of 3 years of experience working in a private or public sector company or an MNC projects a stable source of income. For entrepreneurs or self-employed individuals, a minimum of 5 years of experience showing business entity continuity is required to prove their eligibility for a home loan. 

4. CIBIL Score  

Another key factor in determining housing loan eligibility is your CIBIL score or credit score. Measured on a scale of 300 to 900, the score represents your creditworthiness based on repayment history and credit behaviour. A score of 750 and above is typically considered ideal for a home loan as it implies a strong and flawless credit history.  

5. Existing Loans and Liabilities  

While assessing your home loan eligibility, the lender will take into account your previous loans and existing obligations, if any, to analyze your debt-to-income ratio. This includes any outstanding loans, credit card bills, debts etc.  

How to Check Home Loan Eligibility 

You can check your eligibility for a housing loan with the help of an online home loan calculator. It is a specially designed tool used to give you an estimate of the loan amount you are eligible for. Thus, in case you are in doubt or want to get an accurate figure before deciding on a loan amount, you can simply access the housing loan eligibility calculator and find out what’s suited best for you.  

The steps to use a home loan calculator for eligibility are simple and straightforward. All you have to do is follow these instructions – 

  • Select the lender or bank you want to apply with 

  • Go to the website of your lender and access the housing loan eligibility calculator  

  • In the required fields, enter the following details – 

  1. Name of the city you are applying from 

  2. Your date of birth 

  3. Your monthly salary 

  4. Your existing financial obligations  

  • Once you fill these out, the calculator will instantly show you an estimate of the principal amount you are eligible for 

The online home loan calculator is the easiest and fastest way to check housing loan eligibility since it takes only a few seconds to provide you with the most accurate amount. Besides, it is free of cost, so you need not pay anything out of pocket. Furthermore, its online presence makes it easily accessible from a desktop, laptop, or Smartphone at any time. And last but not the least, there is no restriction on its end usage. This means you can play around with the information and check your eligibility as many times as you want till you are ready to settle for a loan amount that suits you. 

Tips to Increase Home Loan Eligibility 

If you meet the required eligibility criteria, you can rest assured that the lender will sanction your loan application and disburse the amount to your account in about 3-4 working days. If not, then you can always aim to increase your housing loan eligibility by following these tips – 

  • Avoid skipping your payments – loan EMIs, credit card bills – and make sure you clear your debts on time 
  • Keep your debt-to-income ratio lower than 30% 
  • Aim for a higher CIBIL score, preferably over 750. 
  • Add a co-applicant, such as a spouse or a parent, to boost your finances. 
  • Avoid changing jobs frequently as it gives a negative impression and an unstable source of income when applying for a loan 


A home loan is a smart and sustainable way to finance a new house without splurging your hard-earned savings. Apart from providing you with a lump sum, it sure comes with tons of benefits, like home loan balance transfer, affordable EMIs and interest rates provided you meet the required housing loan eligibility criteria. Listed above are the key factors determining your eligibility for a loan. Use an online calculator to check your eligibility and discuss the same with your lender to get up to INR 5 Crores sanctioned as a home loan.  



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