Home Loan Eligibility Calculator

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Home Loan Eligibility Calculator

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Home Loan Eligibility Calculator

  • Your Eligibility

  • Your Home Loan EMI will be


Getting a home loan depends on many factors, including your age, monthly income, credit score, financial status, etc. Before applying for a home loan (HL), you can check your eligibility using Poonawalla Fincorp’s home loan eligibility calculator.

What is aHome Loan (HL) Eligibility Calculator?

An HL eligibility calculator is an online tool that helps you determine your eligibility for a home loan and compute the EMIs on your loan.

Calculation of Eligibility

    The following factors impact your eligibility for a home loan::
  • Age
  • Monthly income or financial status
  • Credit score
  • Credit history
  • Other financial obligations

Eligibility Criteria

  • Age : Minimum age limit for self-employed or salaried individuals is 21 years. The maximum age limit is 65 years.
  • Income : A salaried individual must make a minimum of Rs.20,000 per month, while a self-employed individual must have a business income of Rs.3,00,000 per annum.
  • Loan tenure : Maximum of 30 years
  • Credit history : Should have a record of regular repayments of existing loans and a good credit score
  • Other criteria : A person’s other financial obligations such as credit card balance, car loan, personal loan, etc., are also considered.

How to Use HL Eligibility and EMI Calculator?

Using Poonawalla Fincorp’s online Home loan eligibility checker is straightforward. Input the following details in the calculator to get your home loan eligibility:

  • Gross monthly income
  • Tenure of the loan
  • Anticipated interest rate
  • Other financial obligations or loans

Once you enter these details, the HL eligibility calculator will compute your eligibility for a loan and give you your monthly EMI obligation.

Interest Rate

APR ranging from 9.55% to 16% | One-time Processing Fee up to 2% plus taxes

Repayment

Flexible repayment tenure from 1 year to 30 years with zero Foreclosure charges for all Floating Rate Home Loans

Example

Loan Amount Rs.10 lakh, Interest Rate: 10%, Tenure: 5 years, equates to EMI of Rs. 21,247 per month.

This rate of interest is prone to fluctuation basis our internal credit and risk policy, and as per an algorithmic multivariate score card.
*T&C Apply

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