Loan amount you are eligible for:

15,68,124 INR

What is Home Loan Eligibility

Your home loan eligibility determines whether you qualify for borrowing a home loan or not. Your lending bank conducts this mandatory housing loan eligibility check when you apply for a home loan. Based on your documentation, credit score and financial history the lending bank is able to analyse your financial status, creditworthiness and repayment capacity. A favourable impression that you leave on the lender increases your chances of getting a home loan. That’s why, before applying for a home loan it is important that you understand the eligibility criteria and make sure you fit the bill.

How is Home Loan eligibility calculated?

You can check your home loan eligibility by taking into account different factors such as your monthly income, current age, credit score, existing loan obligations (if any), and the years left to your retirement. Alternatively, you can also use our home loan eligibility calculator to calculate the exact amount of loan that will be disbursed. Just enter the required details like your monthly income, existing EMIs, and loan tenure along with the other details and our housing loan eligibility calculator will instantly display the total loan amount for you.

Home Loan Eligibility Criteria

Home Loan Eligibility Criteria for an Individual


  • Home Loan Eligibility for Salaried persons is between 18 and 60 years.
  • Home Loan Eligibility for Self-employed persons is between 18 and 65 years.


Indian Resident with a Gross Income of:

  • Minimum Income of Rs. 20,000 per month for residents of Delhi, Mumbai, Bangalore, Pune, and Chennai.
  • Minimum Income of Rs. 15,000 per month for the residents of other cities.


Minimum Qualifications:

  • If the applicant works with a private limited company or a partnership firm, the minimum educational qualification required is a Bachelor’s degree.
  • If the applicant is employed with either a public limited company or MNC or Government or public sector company, no minimum qualification is required.


Home Loan Eligibility Criteria for a Partnership Firm/ LLP/ Indian Company

  • The firm/organization should have been existing for a minimum of three years.
  • The partnership firm/LLP/Indian Company should have a minimum net income of:
    • 2,40,000 per annum for companies/firms/LLPs in Delhi, Mumbai, Bangalore, Pune, and Chennai.
    • 1,80,000 per annum for companies/firms/LLPs in other cities.


Home Loan Eligibility Criteria for a Hindu Undivided Family (HUF)

  • The applicant or the co-applicant must be the Karta of the HUF.
  • The HUF should have been in existence for a minimum of three years.
  • The HUF should provide their IT returns for a minimum of three years.
  • HUF with a Minimum Net Income of:
    • 2,40,000 per annum for the HUFs in Delhi, Mumbai, Bangalore, Pune, and Chennai.
    • 1,80,000 per annum for the HUFs in other cities.


How to use Kotak Mahindra Bank’s Home Loan Eligibility Calculator?

A home loan eligibility checker can help you identify whether or not you fit the housing loan eligibility criteria. It is crucial that you check home loan eligibility before applying for a home loan to avoid your housing loan application from being rejected. Moreover, the housing loan eligibility criteria is also a key indicator of how much loan amount can be approved in each case.

 You can either manually calculate the total amount of loan you are eligible for, or you can do it in an easy and efficient way, that is, by using Kotak Mahindra Bank’s Home Loan Eligibility Checker. Simply enter the required information such as your employment type, customer type, monthly in-hand salary, existing EMIs, loan tenure, and current interest rate. The home loan eligibility calculator will calculate the exact amount of home loan that you are eligible for.

Factors Affecting Housing Loan Eligibility

These factors affect your housing loan eligibility:

  • Your Monthly income: Your monthly income is one of the most important aspects of a home loan application process. It helps lenders decide the total amount of loan that you can afford. A person with a low income will be eligible for a lower loan amount and vice versa.
  • Your Current Age: Next important factor that affects your home loan eligibility is your current age. If you are young, then you can opt for a long loan tenure. Since tenure is long your interest rate will be low, which, in turn, will lower your EMI.
  • Credit History: A good credit history indicates that you are sincere in paying your dues and that you have a solid financial state. A good credit history leaves a positive impact on the lenders, which increases your chances of getting a home loan.
  • Existing Loan Obligations: It is to keep in mind that if you have any existing loan obligations, it can impact your housing loan eligibility. These are considered as regular monthly expenses that can affect your loan repayment ability.
  • Regulatory Requirements: The National Housing Bank (NHB) has set a limit that decides the maximum loan amount that can be disbursed. This depends on the cost of the residence. The high-priced homes in the market may have lower maximum limit while the lower-priced homes may have a higer maximum limit.

You can check our home loan eligibility checker to calculate the exact loan amount you are eligible for.

Frequently Asked Questions

What is Home Loan Eligibility?

While sanctioning loan to a person, the bank or lending institution does a background check to determine whether the applicant is capable of repaying a loan or not. If capable, then how much loan should be disbursed. This process of the determination of creditworthiness of an applicant is known as home loan eligibility.

In the absence of salary slips, especially for non-salaried individuals, applicants may submit bank statements and complete ITR details as required by the lending bank. So, although salary slips improve your chances to get a home loan, it’s not mandatory.

How can I improve my Home Loan Eligibility?

Home loan eligibility plays an important role in deciding the total amount of home loan a bank or lender will sanction to you. Here are some ways through which you can improve your housing loan ability:

How to check home loan eligibility online?

Check your housing loan eligibility with our housing loan eligibility checker. In the calculator:

  • Choose the type of employment; i.e. salaried or self-employed
  • Enter the exact amount of in-hand salary
  • Enter your current existing EMI (if any)
  • Loan tenure, and
  • Current interest rate
  • The calculator will show the exact loan amount you are eligible for

What are the factors that affect Home Loan Eligibility?

Your home loan eligibility decides the amount of loan that can be sanctioned to you, and the following factors affect it:

  • Monthly Income: Your monthly income is the reflection of the repayment capability of your home loan. The greater the income the higher the chances of getting a higher loan.
  • Age: Another important factor is age. A young applicant can opt for a longer tenure which can further reduce the interest rate and hence your EMI.
  • Credit Score: A better credit score reflects strong creditworthiness, which means a higher loan amount.
  • Existing Loan Obligations: Existing loans affect your repayment capability that can lower the total loan amount eligible for disbursement.

How is Home Loan Eligibility calculated on the basis of Income/Salary?

Your income or salary is a reflection of your repayment capability that directly affects your home loan eligibility. If your in-hand salary (after PF and gratuity deductions) is higher then you get a better home loan deal and if it is lower, it makes it more difficult in procuring the loan. However, the bare minimum salary for residents of Mumbai, Delhi, Bangalore, Pune, and Chennai is Rs. 20,000/month while for the residents of other cities it is Rs. 15,000/month.

How is Housing Loan Eligibility calculated on the basis of age?

For a salaried applicant the age bracket lies between 18 and 60 years, while for self-employed professionals, it is from 18 to 65 years. However, younger applicants have an advantage over older applicants. They can opt for a longer tenure, the maximum being 20 years. This significantly reduces their overall interest rate and EMI.

How is Home Loan Eligibility calculated?

In order to qualify for a home loan, you have to meet certain home loan eligibility criteria. These include your monthly income, credit score, age, existing loan obligations, and work experience. The banks or lending institutions use these criteria to determine whether you will be able to repay the loan or not.

Is it beneficial to use home loan eligibility checker?

You must meet certain housing loan eligibility criteria to qualify for a loan. So, it is advisable to use these parameters to calculate the amount of the loan. Our home loan eligibility checker is the right tool for you. It saves you from the hassle of calculating it by yourself and helps in better planning of repayment schedules.

How much home loan can I get with 40000 salary?

You can easily calculate this by using our housing loan eligibility calculator through these simple steps:

  • Navigate to the Home Loan Eligibility section under Home Loan
  • Scroll down to find the home loan eligibility checker
  • Fill in your monthly income and other details
  • The calculator will show the exact amount of loan that you can get

How much housing loan can I get from bank?

Kotak Mahindra Bank offers great flexibility not only on the housing loan eligibility but on the total amount of loan disbursed too. Right from a minimum loan amount of Rs. 10 lakhs you can avail of a loan as high as Rs. 10 crores. However, the total amount of the loan disbursed all depends on your eligibility.

Have specific doubts? Talk to our Home Loan Advisor

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Disclaimer (Things you should know):

For loans: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.

* Rs. 5,000 Flat processing fee applicable for women applicants.