Calculate eligibility for home loan

Using a Home Loan Eligibility Calculator is certainly one of the easiest ways to determine eligibility for a home loan. Lending institutions consider several factors such as monthly salary, loan repayment tenor, other source of monthly income, any other obligation and EMIs payable besides other basic information. With a housing loan eligibility calculator, one can quickly set the values or inputs to these fields and check their eligibility without any hassle. This online tool will help buyers to make an informed choice and avoid loan application rejections, which can otherwise affect their credit behaviour and CIBIL score negatively.

Also, with the easy-to-use home loan eligibility calculator, you can avoid applying for a loan at multiple lenders.

What is home loan eligibility?

Every borrower needs to meet the eligibility criteria required to qualify for a housing loan. This ensures that he/ she can repay the loan amount effortlessly without defaulting. Failing to meet the eligibility criteria may lead to the rejection of the loan application, leaving a negative mark on the individual’s credit profile. So, ensure to complete the processing faster and smoothly by fulfilling the required eligibility criteria.

Home loan eligibility criteria

To be eligible for a home loan, several factors are considered, including your salary, age, credit score, location, work experience, and monthly financial commitments. Bajaj Finserv brings easy-to-meet eligibility criteria, making the home loan more accessible. Below is a chart with details.

Eligibility criteria for home loan

Age limit of salaried individuals

23 years to 65 years

Age limit of self-employed individuals

23 years to 75 years

Required Credit Score for home loan

725 or higher

Work experience of salaried applicants

Minimum 3 years

Business Vintage

Minimum 5 years

Minimum salary

Rs. 25,000*


Indian, residing within the country

** Maximum age considered at the time of loan maturity.

Applicants can get home loan up to Rs. 15 crore*, based on their eligibility. Know the home loan eligibility criteria and documents required for home loan before applying.

Home loan eligibility based on salary

One of the eligibility criteria that determine how much loan you can avail is your net salary (in-hand salary). Your salary is crucial as it helps in forecasting your repayment capabilities.

Your income will determine the loan amount you are eligible for. Lenders will consider your take-home salary, minus certain common deductions such as gratuity, PF, ESI, etc. The take-home salary will determine the EMI amount you can afford and thus the total loan amount you can borrow.

How to calculate home loan eligibility

For instance, if your take-home salary is Rs. 25,000, you can avail as much as Rs. 18.64 lakh as a loan to purchase a home worth Rs. 40 lakh (provided you have no existing financial obligations.) But if your take home is Rs. 50,000, you can avail a loan amount of Rs. 37.28 Lakh for the same property. Subsequently, if your take-home is Rs. 75,000 you can increase your eligibility up to a loan amount of Rs. 55.93 Lakh.

Net Monthly Income (Rs)

Loan Amount (Rs)


15.07 lakh


37.28 lakh


55.93 lakh


64.59 lakh


80.74 lakh


96.89 lakh


1.37 crore


2.06 crore


2.50 crore


2.50 crore

Home loan eligibility based on age

Age is another determining factor when it comes to loan tenure. The maximum tenure that you can avail of is up to 40 years.

You will be able to avail of a longer repayment tenure if you are of a lower age. You can also avail of a home loan of higher value provided you have a high income.

Salaried applicants have to be between the ages of 23 years to 65 years to apply for a home loan. Self-employed applicants have to be within the age bracket of 23 years to 75 years to avail one.

**Maximum age considered at the time of loan maturity.

How to check home loan eligibility?

Individuals can easily check their home loan eligibility criteria on the official website of their preferred lending institution. Although most key requirements are usually the same, certain eligibility criteria may differ from lender to lender. These eligibility criteria are basically a set of parameters based on which a lender can assess a borrower’s creditworthiness and past repayment behaviour. It depends on several factors like credit history, age, credit score, financial obligations of an individual along with FOIR and financial status.

Another easier and quick way to determine loan eligibility is to use an online home loan eligibility calculator. One can use this calculator to work out a personalised quote that can possibly meet the loan amount requirement on favourable and affordable means.

How is home loan eligibility calculated?

The eligibility calculator functions on a mathematical formula to evaluate the eligible loan amount. This considers factors such as the loan tenure, monthly income after taxes, any current debt or loan repayments, and any additional income.

What is an eligibility calculator for a home loan?

An easier way to check home loan eligibility is by using an online calculator. The Bajaj Finserv Home Loan Eligibility Calculator instantly computes the amount that you are eligible to borrow. It helps in better financial planning and reducing the chances of application rejection. This tool also eradicates the hassle of manual calculation completely.

With Bajaj Finserv, access this online calculator whenever you need from anywhere and use it for free.

How to increase home loan eligibility?

Here are some ways to increase your home loan eligibility and improve the chances of availing a home loan.

  • Improve CIBIL Score: Lending institutions tend to provide home loans at attractive interest rates to individuals who possess an ideal CIBIL Score above 750. Many things affect it, such as credit history, age, credit score, debt, fixed obligations compared to income, and the person's financial status..
  • Clear existing loans: Lenders also assess loan repayment capacity by gauging an individual’s debt-to-income ratio. Hence, clearing existing loans before applying for a new one can increase home loan eligibility.
  • Select a joint home loan: If an individual applies for a home loan with a co-applicant or spouse who is earning, their eligibility for the credit product will increase.

Frequently asked questions

How to use Home Loan Eligibility Calculator?

It’s quite easy and simple to use the eligibility calculator. Enter all the details as required, including your date of birth and residing city.

  • Enter the date of birth in the format of DD/MM/YYYY
  • Provide the place you are residing in
  • Set net monthly salary either by directly entering the amount or by adjusting the bar provided
  • Set your preferred tenure up to 40 years as per your financial plans and repayment capability
  • Enter details of other incomes per month if any. Skip this step if you do not have other income sources
  • Provide the total amount of EMI you are currently paying towards your existing debts. Avoid if there is none

Make sure to provide accurate information to compute the correct results. Recheck all the entries and click on ‘check your eligibility’. The calculator displays the maximum loan amount you can borrow from Bajaj Finserv instantly.

Adjust the bar for other feasible tenures and check the amounts that you can avail. Once you get the maximum eligibility amount, apply for a home loan as per your needs.

What factors determine home loan eligibility?

Several factors determine a borrower’s eligibility for a home loan. A few of the essential ones are as follows:

  • Age bracket: Self-employed applicants falling within the age bracket of 23 years to 75 years qualify to apply for the loan. Salaried individuals must age between 23 years to 65 years to be eligible
  • CIBIL Score: CIBIL Score is a 3-digit value, which signifies the creditworthiness of an individual. On the scale of 300 to 900, 750 is considered as the minimum rating required to qualify for a loan. A healthy CIBIL Score for Home Loan can be beneficial to avail attractive features and better interest rates
  • Occupation: Applicants must either be self-employed (businessman, doctor, chartered accountant, and others) or salaried with any private or public sector company or an MNC
  • Minimum earnings: Bajaj Finserv brings a slab of net income per month based on the location of residency. Applicants must meet the minimum requirements as applicable
  • LTV and property value: The chance of getting a higher loan amount is more if the property’s market value is higher. If you can make a 20% down payment, you can get a home loan faster

An eligible applicant can enjoy competitive home loan interest rates along with features like part-prepayment, foreclosure, balance transfer facility, etc.

What is the minimum salary to get a home loan?

Your minimum take home salary should be 25,000 per month to be eligible for Bajaj Finserv home loan.

How much home loan can I get for my salary?

The amount of a home loan is determined by factors such as your credit score, income, work history, age, location, and existing financial commitments. You can use a home loan eligibility calculator to calculate the home loan amount based on your salary.

Does income affect loan eligibility?

Your net monthly income (NMI) is in fact one of the most important deciding factor for lenders when it comes to approving and rejecting your loan. While there is a minimum net monthly income you should earn to qualify for a loan, your loan application can still be rejected for an income more than that. In case you want a higher loan amount, you can add a co-applicant who earns and can add to your monthly income. Use a Home Loan Eligibility Calculator to easily determine your eligibility for a Home Loan.

How much home loan can I get on a 25000 salary?

Considering your age is 25, with no other monthly income & obligations - you are eligible for a home loan up to 19,87,150 for tenor of 25 years on your monthly 25,000 salary.

How much home loan can I get on a 35000 salary?

Considering your age is 25, with no other monthly income & obligations - you are eligible for a home loan up to 27,82,011 for tenor of 25 years on your monthly 35,000 salary.

How much home loan can I get on a 60,000 salary?

Considering your age is 25, with no other monthly income & obligations - you are eligible for a home loan up to 47,69,161 for tenor of 25 years on your monthly 60,000 salary.

How much EMI should I pay for a Rs. 60 lakh home loan?

For a Rs. 60 lakh home loan with a 15-year tenure at an 8.50% annual interest rate, your EMI would be approximately Rs. 59,084. This monthly installment ensures that you can manage your finances effectively while repaying your loan over the chosen period. Note that this is an approximate amount and can vary based on your eligibility criteria and lender policies.

How much EMI is good for home loan?

A good EMI for a home loan should ideally not exceed 30-40% of your monthly income. This ensures financial stability and prevents overburdening your budget, allowing you to manage other expenses and savings comfortably.

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

Yes, if you have an existing home loan, you can apply for a home loan balance transfer with Bajaj Finance and avail of a top-up loan of Rs. 1 crore* or higher.

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