Home Loan Eligibility Calculator

Are you eligible for a Home Loan? Find out now!

Calculate your Home Loan Eligibility
  • Category:

  • Gross Monthly Salary:

    Gross Annual Income:

  • Date of Birth:

    Date of Birth / DOI:

  • Tenure (months):

  • CIBIL Score:

    Select CIBIL Score
    • 800 and above
    • 771 and above but less than 800
    • 751 and above but less than 771
    • 726 and above but less than 751
    • 701 and above but less than 726
    • Less than 701
    • (-1)
  • Other EMIs(Monthly):

  • Any monthly deduction
    (tax,NPS etc):

    Any monthly deduction
    (tax etc):

Eligible Loan Amount

  • EMI Amount ₹0
  • Eligible Tenure(In Months) 0
  • Interest Rate* 0%

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.

Home Loan Amortization Schedule

Year Opening Balance EMI*12 Interest paid yearly Principal paid yearly Closing Balance
1 5,000,000 481,523 368,699 112,824 4,890,977
2 4,890,977 481,523 728,700 234,346 4,773,831
3 4,773,831 481,523 1,079,332 365,238 4,647,959
4 4,647,959 481,523 1,419,872 506,221 4,512,708
5 4,512,708 481,523 1,749,543 658,073 4,367,382
6 4,367,382 481,523 2,067,507 821,633 4,211,229
7 4,211,229 481,523 2,372,860 997,802 4,043,442
8 4,043,442 481,523 2,664,632 1,187,554 3,863,155
9 3,863,155 481,523 2,941,774 1,391,935 3,669,437
10 3,669,437 481,523 3,203,158 1,612,073 3,461,287
11 3,461,287 481,523 3,447,571 1,849,184 3,237,630
12 3,237,630 481,523 3,673,703 2,104,575 2,997,310
13 2,997,310 481,523 3,880,146 2,379,656 2,739,087
14 2,739,087 481,523 4,065,380 2,675,945 2,461,625
15 2,461,625 481,523 4,227,771 2,995,077 2,163,493
16 2,163,493 481,523 4,365,558 3,338,813 1,843,150
17 1,843,150 481,523 4,476,844 3,709,050 1,498,942
18 1,498,942 481,523 4,559,586 4,107,832 1,129,090
19 1,129,090 481,523 4,611,583 4,537,358 731,684
20 731,684 481,523 4,630,464 5,000,000 0
21 3,062,991 417,476 6,498,733 2,268,270 2,873,708
22 2,873,708 417,476 6,694,787 2,489,692 2,670,323
23 2,670,323 417,476 6,873,771 2,728,185 2,451,785
24 2,451,785 417,476 7,034,367 2,985,064 2,216,967
25 2,216,967 417,476 7,175,159 3,261,749 1,964,655
26 1,964,655 417,476 7,294,618 3,559,765 1,693,545
27 1,693,545 417,476 7,391,102 3,880,758 1,402,238
28 1,402,238 417,476 7,462,838 4,226,498 1,089,228
29 1,089,228 417,476 7,507,919 4,598,894 752,899
30 752,899 417,476 7,524,288 5,000,000 0
Home Loan Eligibility Calculator

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.

What is Home Loan Eligibility?

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 calculator.

Home Loan Eligibility Calculator

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 calculator.

What is a Home Loan Eligibility Calculator?

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.

Home Loan Eligibility Criteria

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:

  • Nationality of the applicant: For a home loan, applicants may be residents of India, non-resident Indians (NRIs) holding Indian passports, persons of Indian origin (PIOs) holding passports of other countries, or overseas citizens of India (OCI).
  • Age of the applicant: If your age is at least 21 years or if you are a co-applicant, then 18 years of age.
  • Financial position of the applicant: Salaried or self-employed.
  • Creditworthiness of the applicant: A clear current and past credit history and credit score.
  • Existing liabilities of the applicant: Record of financial obligations such as ongoing loans or credit card debt.

Home Loan Eligibility Criteria Based on Age

Minimum age: 21 years for an applicant and 18 years for a co-applicant.

Maximum age (i.e., age + repayment period):

  • For salaried: Generally, up to retirement age
  • For non-salaried: up to 65 years

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 are:

  • Growing age or reaching near your retiring age.
  • Lack of a steady income source.
  • Poor credit score and repayment history.

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:

  • Joint home loan: You can apply for a joint home loan with a co-applicant to increase your chances of availing of a higher loan amount. Any family member can be listed as a co-applicant, including parents, spouses, siblings, and kids. This will also help you share the financial burden. You and the co-applicant will both qualify for tax benefits under the tax laws, so keep that in mind.
  • Longer loan tenure: When determining your eligibility using the home loan eligibility calculator, you can select a longer loan tenure. Even though doing this may strain your finances over time, it will undoubtedly lower your EMI. By doing this, you can make sure that your loan is repaid on time, which will increase your eligibility.
  • Prepayment of existing loans: You can foreclose or make a prepayment of all your existing loans to improve your credit score and increase your loan amount eligibility before checking your home loan amount eligibility and applying for a home loan.
  • CIBIL or credit score: You can maintain a good CIBIL score with a higher credit score of approximately above 800 and can instantly help you enhance your home loan eligibility. You must keep a regular check on your CIBIL score to avoid loan rejection.
  • Additional income sources: You can specify all your additional income sources to improve your loan eligibility as it increases your debt-to-income ratio. For example, if you own another property, you can put it on rent or declare the rent received in favor as the additional income.

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 given below:

  • Age criteria: Your age is the foremost determinant considered by banks while determining your home loan eligibility. Most banks limit the home loan tenure to the applicant’s retirement age. Thus, in comparison to young individuals, it is difficult for older people nearing retirement to get a longer-term home loan unless they have proof of a regular income source.
  • CIBIL or credit score: Your CIBIL or credit score is another vital determinant based on which the bank assesses your loan repayment ability. The credit score is a three-digit number which is basically a summary of your credit history. It is always a good option to check the minimum credit score for a home loan before checking your home loan eligibility since a poor credit score leads to higher interest rates or loan rejection.
  • Income stability: The source of income and job stability for salaried individuals are taken into consideration by financial institutions when approving loan applications. Similarly, self-employed individuals can be eligible for a loan if they prove they have a steady income source. Let us understand this with an example.
  • Property details: The age (date or the year of construction) and the location of the property you have chosen to purchase are among the serious factors that banks may consider while approving your home loan. These factors act as a security against which you can avail the home loan. Moreover, there might be a chance that the home loan application would get rejected, if the tenure is longer than the remaining sustaining years of the property. Therefore, banks usually conduct a kind of technical and legal investigation of the property before sanctioning the home loan.
  • Loan-to-value (LTV): The loan-to-value ratio or LTV in home loan refers to the ratio between the home loan amount and the appraised value of the property. In simple words it is one of the risk assessments tools or methods used by banks to minimize the chances of defaults. It is basically the percentage of the property value that a bank can lend to a home buyer.
  • Debt-to-income ratio: Debt-to-income ratio refers to an assessment tool considered by the banks to measure the home loan applicant’s repayment capacity. It is calculated as a percentage by dividing the home loan applicant’s net monthly debt payments by his or her monthly income.

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

Maximum age:

Salaried: Retirement age

Non-salaried: up to 65 years

Credit Score

Above 701

Loan-to-Value (LTV) Ratio (Maximum)

75% to 90%

Employment Status

Salaried/ Self-employed

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 eligibility calculator.

Step no. 2: Select one of the categories:

  • Salaried
  • Self Employed

Step no. 3: Enter your income details:

  • Gross monthly salary, if you are salaried
  • Gross annual income, if you are self-employed

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:

  • PAN Card
  • Aadhaar Card
  • Voter ID Card
  • Passport
  • Driving License

Proof of Residence - any of the following proof of residence:

  • Passport
  • Voter ID Card
  • Aadhaar Card
  • Ration Card
  • Utility Bills

Proof of age - any of the following proof of age:

  • Passport
  • PAN Card
  • Birth certificate
  • Aadhaar card with DOB
  • Driving license
  • Class 10th (SSC) mark sheet
  • Bank’s passbook

Proof of Income - any of the following proofs of income:

For salaried individuals:

  • Form 16
  • A certified letter from the employer
  • Bank account statements for last 6 months
  • Last 3 months' salary slips
  • Income tax returns of the last 3 years

For self-employed individuals:

  • Income tax returns of the last 3 years
  • Last 6-month bank account statements
  • Balance Sheet and P&L Account Statement of the company or firm which is duly attested by a CA
  • Proof of your educational qualifications

Property Documents - any of the following property documents:

  • sale deed
  • the allotment letter
  • stamped agreement of sale,
  • occupancy certificate (in case of ready-to-move-in homes)


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)

  • What is Home Loan eligibility?

    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:

    • An Indian resident.
    • A Non-Resident Indian (NRIs) holding an Indian passport, a Person of Indian origin (PIOs) holding a foreign passport, or an Overseas Citizens of India (OCI).
    • Minimum age of 21 years and 18 years of age, if you are a co-applicant

    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.

  • How is Home Loan Eligibility calculated?

    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.

    You can find Bank of Baroda’s Home Loan Eligibility Calculator, here

  • How does a Home Loan Eligibility Calculator work?

    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.

  • How to use a Home Loan Eligibility Calculator?

    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.

  • What factors determine Home Loan eligibility?

    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.

  • How is Housing Loan eligibility calculated based on age?

    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.

  • How is Home Loan eligibility calculated based on income or salary?

    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.

  • How to improve Home Loan eligibility?

    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.

  • Is it important to check my home loan eligibility criteria and different factors determining it?

    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.

  • How good is a CIBIL or the credit score for a home loan and how much should it be?

    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 which circumstances is the role of a co-applicant important for home loan eligibility?

    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.

  • Who is eligible for a joint home loan?

    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.

  • How much loan can I avail if my monthly salary is Rs. 30,000?

    For a detailed list of documents required, please visit here.

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