Home Loan Eligibility Calculator
HDFC Bank Home Loan Eligibility Calculator
Welcome to HDFC Bank’s Home Loan Eligibility Calculator – your key to understanding the loan amount you may be eligible for. Our comprehensive calculator takes into account various factors, ensuring that you get a clear picture of your potential home loan eligibility.
Calculate Your Home Loan Eligibility
Gross Income (Monthly): ₹25,000 - ₹1 Cr
Set your monthly income within the range of ₹10,000 to ₹1 Crore.
Tenure (Years): 1 - 30
Choose a loan tenure ranging from 1 to 30 years based on your preference.
Interest Rate (% P.A.): 8.5% - 15%
Input the prevailing HDFC Bank housing loan interest rate, ensuring accuracy for precise calculations.
Other EMIs (Monthly): ₹0 - ₹1 Cr
If you have existing EMIs for other loans, include them in this section.
If you have existing EMIs for other loans, include them in this section.
Your Home Loan Eligibility: ₹13,00,536
Estimated Home Loan EMI: ₹10,000/monthly
Ready to take the next step? Apply now and embark on your homeownership journey with HDFC Bank.
Note: These calculations serve as general planning tools. Results may vary based on individual circumstances, and we do not guarantee their accuracy.
What is Home Loan Eligibility?
Home loan eligibility refers to the criteria used by financial institutions to assess an individual’s creditworthiness for a specific loan amount. This assessment includes factors such as age, income, credit history, and existing financial obligations.
How is Home Loan Eligibility Calculated?
The eligibility is determined by income, repayment capacity, age, credit history, and other financial obligations. The maximum loan term is typically capped at 30 years.
Home Loan Eligibility Criteria
- Present Age and Remaining Working Years: Salaried individuals (21 to 65 years), Self-employed individuals (21 to 65 years).
- Minimum Salary: ₹10,000 p.m.
- Minimum Business Income: ₹2 lac p.a.
- Maximum Loan Term: 30 years.
- Financial Position: Present and future income impact the loan amount.
- Credit History and Credit Score: A positive repayment record is crucial.
- Other Financial Obligations: Existing liabilities like car loans and credit card debt are considered.
Enhancing Home Loan Eligibility
Boost your eligibility by:
- Adding an earning family member as a co-applicant.
- Availing a structured repayment plan.
- Ensuring a steady income flow, regular savings, and investments.
- Providing details of regular additional income sources.
- Maintaining a record of variable salary components.
- Rectifying errors in your credit score.
- Repaying ongoing loans and short-term debts.
How to Use HDFC Bank’s Eligibility Calculator?
- Gross Income (Monthly): Input your gross monthly income.
- Loan Tenure (In Years): Choose the desired loan term.
- Interest Rate (% P.A.): Input HDFC Bank’s prevailing interest rate.
- Other EMIs (Monthly): Include EMIs of other loans.
Once you get an indication of your eligibility and EMI amount, apply for a home loan online with ease.
Ready to make your dream home a reality? Apply for a home loan with HDFC Bank and enjoy the convenience of Online Home Loans. Click here to apply.
Note: Results depend on the provided assumptions, and we recommend verifying details for accurate outcomes.
Factors Determining Home Loan Eligibility
When applying for a home loan, eligibility depends on:
- Income and repayment capacity.
- Age, financial position, credit history, credit score, and other financial liabilities.
Improving Home Loan Eligibility
Enhance your eligibility by:
- Adding an earning family member as a co-applicant.
- Availing a structured repayment plan.
- Ensuring a steady income flow, regular savings, and investments.
- Providing details of regular additional income sources.
- Maintaining a record of variable salary components.
- Rectifying errors in your credit score.
- Repaying ongoing loans and short-term debts.