Home Loan Eligibility

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Home Loan Eligibility

Home Loan Eligibility

Home Loans are very significant when a person desires to buy a house of their own. For any financial institution or loan provider, Home Loan Eligibility is very important. All Home finance companies refer to their EMI table when calculating the EMI payments. This table lists the monthly EMIs per lakh, for different tenures and rates of interest.



Monthly Income(Rs) 30,000
(Assumed) Income available for EMI payment (i.e. 55% of 30,000)(Rs) 16,500
Rate of Interest(%) 8.00
Tenure(yrs) 20
EMI per lakh(Rs) 836
Home Loan Eligibility (Rs) 1,973,000

The Following are other factors that help in the evaluation of Home Loan Eligibility:

  1. Nature of Job of Individual
  2. Location of the Property
  3. Personal Details of the individual

Know more about Home Loan EMI Calculator.

Things you need to know about before you apply for a home loan

  1. Documents
  2. Home Loan Interest Rates

Calculate Your EMI:

Monthly Salary Slab(Rs)

Percentage of monthly salary considered for making EMI payments(%)

8000- 10,000 45
10,000-20,000 50
20,000-35,000 55
Above 35,000 60

If an individual is drawing a net salary of Rs 25,000 pm, then Rs 13,750 (i.e. 55% of 25,000, Refer the table) will be considered as a part of EMI payments. Likewise, the amount will vary according to the individual’s income.

It is important for everyone interested to take a home loan to know about the basics of home loan calculations with the Home Loan Calculator.

Leading Home Loan Providers 

  1. Axis Bank Home Loan
  2. HDFC Home Loan
  3. SBI Home Loan
  4. Citibank Home Loan
  5. Other Banks

Avail your Home Loan with Dialabank for personalized Assistance.