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Are you eligible for a Home Loan? Find out now!
Gross Monthly Salary:
Gross Annual Income:
Date of Birth:
Date of Birth / DOI:
Any monthly deduction(tax,NPS etc):
Any monthly deduction(tax etc):
Eligible Loan Amount
These calculators are provided only as general self-help Planning Tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances.
These calculators are provided only as general self-help Planning Tools. Results depend on many factors, including
*Conditions apply, interest rates and charges are the bank’s sole discretion and are subject to change from time to time.
Buying the home of your dreams is no less than a milestone for you. It all begins with a decision, followed by
consideration of various home loans provided by banks and non-banking financial institutions (NBFCs) and
consideration of all financial factors. Before applying for a home loan, it is crucial to take all necessary
measures to financially prepare yourself for a significant investment, as this is one of the most important
decisions of your life. One of these steps is knowing your home loan eligibility criteria.
Home loan eligibility describes the criteria that banks, and non-banking financial institutions (NBFCs) use to assess
a loan applicant's creditworthiness and ability to repay the loan. Thus, checking your home loan eligibility and
doing a loan eligibility check will make your loan availing process smooth. Additionally, it lessens your chance of
having a loan denied, which could affect your credit score. Which tool is required to determine your eligibility for
a home loan? And the answer is the home loan eligibility
You can check your loan eligibility in a few minutes while lounging in the comfort of your home thanks to the
digitization of banks and the availability of online banking products. All you need to do is access the online home loan eligibility
A home loan eligibility
calculator is an online tool that enables you to assess your home loan eligibility in just a few clicks with
some simple steps. Using this home loan eligibility calculator, you can get an accurate idea of the loan amount you
qualify for to purchase a home. If you have checked your home loan amount eligibility online, it will be clear if
you are eligible for the loan or not.
Certain criteria that must be met by a housing loan eligibility calculator are nearly identical to those needed for
any other bank loan eligibility. The basic requirements to match a home loan amount eligibility are as follows:
Minimum age: 21 years for an applicant and 18 years for a co-applicant.
Maximum age (i.e., age + repayment period):
A note on home loan eligibility: The loan period may be viewed in some circumstances as exceeding
the maximum age.
Understanding how your age may affect your ability to obtain a home loan is crucial. Since a lot of individuals in
their mid-20s and 30s have higher disposable income, it is quite easy for them to avail an affordable home loan with
a longer repayment tenure and higher value. However, the same may not be applicable for individuals in their 40s and
those nearing retirement age.
How to Improve Your Home Loan Eligibility?
There are certain factors that may prevent you from getting the right home loan for your right home. These factors
However, it is possible to improve your loan amount eligibility and significantly enhance your chances of getting a
home loan with these five easy ways:
The List of Factors which Determine Home Loan Eligibility
Your home loan eligibility is majorly determined by factors such as your monthly or annual income, your age, your
CIBIL or credit score, financial obligations, credit history, etc. Let us discuss some of these factors in detail as
Illustration: take a look at the table below to understand how different factors determine the eligibility to avail
of a home loan:
Age iIn years)
Minimum age: 21years, 18 years in case of co-applicant
Salaried: Retirement age
Non-salaried: up to 65 years
Loan-to-Value (LTV) Ratio (Maximum)
75% to 90%
Salaried/ Self-employed Professional Agriculturists
Note: The information given above is for indicative purposes only. The eligibility criteria and other factors may
differ, depending on the bank.
Bank of Baroda Home Loan Eligibility Calculator
Bank of Baroda understands the need of a home loan seeker, like you, and gives you the advantage of knowing your home
loan eligibility from the comfort of your home with Bank of Baroda Home Loan Eligibility Calculator. This digital
facility is available on their website where you can check your Bank of Baroda home loan eligibility.
The Steps to use Bank of Baroda's Home Loan Eligibility Calculator
Here’s a quick guide showing the steps to use Bank of Baroda's Home Loan eligibility calculator:
Step no.1: Visit or go to Bank of Baroda's home Loan
Step no. 2: Select one of the categories:
Step no. 3: Enter your income details:
Step no. 4: Enter your date of birth.
Step no. 5: Enter the loan tenure (in months).
Step no. 6: Enter your CIBIL or credit score.
Step no. 7: Enter any other EMIs (monthly), if any.
Step no. 8: Enter any monthly deduction (tax, NPS, etc.), if any.
Step no. 9: Click on “Calculate now”.
Finally, when you get an indication of your eligibility and home loan amount by using the home loan eligibility
calculator, you can apply for an online home loan with Bank of Baroda.
What are the Documents Required for a Home Loan?
Once you have checked your home loan eligibility and move forward towards applying for an online home loan you must
keep the important documents ready to be submitted based on which the bank assesses your eligibility.
Here is a list of common documents that a home loan applicant will have to provide to the bank:
A duly completed home loan application
Set of recent passport-size photographs
Identification proof - any of the following identification proofs:
Proof of Residence - any of the following proof of residence:
Proof of age - any of the following proof of age:
Proof of Income - any of the following proofs of income:
For salaried individuals:
For self-employed individuals:
Property Documents - any of the following property documents:
You can use the online home loan eligibility calculator which will compute the home loan amount he or she is eligible
to get. All that it takes is entering a few details like net income, loan amount, etc.
Frequently Asked Questions (FAQs)
Each bank sets its own Home Loan eligibility criteria as per its policies and discretion. The Bank of Baroda helps those applying for a Home Loan by setting out some basic eligibility criteria, which are as follows:
You must be:
In addition, the type of property, the loan amount, your income and a few other criteria will also be used to check your home loan eligibility.
Generally, banks decide an individual’s eligibility for a Home Loan based on credit score, income, age, work experience, current obligation, debt, etc. To understand your eligibility, you can make use of a home loan eligibility calculator. It helps you determine the amount of loan you can get.
Home Loan Eligibility Calculators work based on a mathematical formula that helps evaluate the loan amount you are eligible for. It considers several factors to conduct the calculations. The Bank of Baroda Home Loan Eligibility Calculator requires you to enter basic details like loan amount, tenure, and interest rate.
Using Home Loan Eligibility Calculator is quite simple and available online. You just have to enter the details required, and you will get to know about your loan eligibility instantly. For instance, with the Bank of Baroda Home Loan Eligibility Calculator, you can use the sliders to enter the amount you are seeking, the interest rate, and the tenure. You will get to know your eligibility and the EMI due within seconds.
You Home Loan eligibility depends on various factors. The banks also take into account your credit score and repayment history. They also look into any existing debt you might have. They consider your employment conditions and income. Additionally, they also factor in your age, location, and property details.
Usually, the banks have age-related restrictions as part of the Home Loan eligibility criteria. Since the maximum tenure for most Home Loans is up to 30 years, an applicant must be able to service the loan throughout its tenure.
Lenders like banks pay close attention to your income while evaluating your Home Loan eligibility. Essentially, they are concerned with your take-home salary/income, which is the amount left after making deductions like gratuity, PF, other obligations, etc. It is based on your income that banks can determine how much EMI you will be able to pay each month basis the home loan eligibility calculator. Thus, they can offer the loan amount accordingly.
You can improve your Home Loan eligibility by improving your credit score, repaying any existing debts, and applying jointly with your partner or close relatives. In addition, you can also opt for a longer tenure and put down a larger down payment.
It does not matter whether you are a salaried employee or a self-employed individual. it is very important to know the home loan eligibility criteria and the different factors that will determine the maximum amount of loan you can get as the home loan providing bank shall decide the loan amount based on different factors, including age, income and LTV ratio etc.
Having a good CIBIL or credit score is essential so that you face no rejections while applying for a home loan. Usually, a minimum CIBIL for applying for a home loan, 750 is good to go, but a score above 800 can increase your chances of getting a loan more easily and that too would fetch you lower interest rates.
In certain cases where the main home loan applicant is not able to match or fulfill the criteria set by the bank, adding a co-applicant to your home loan application is one of the best ways in which you can improve your home loan eligibility and increases the possibility of home loan approval.
Any of the immediate family members of the loan applicant, such as spouse, parents, children, and siblings, are eligible to be a co-applicant for a joint home loan.
For a detailed list of documents required, please visit here.
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