Home Loan Eligibility Calculator

A place to call our own is an aspiration for most of us. But owning a home requires a lot of planning, given the costs involved. However, with the right kind of financial support, buying your own home is a dream that you can fulfil easily.

Unlock the doors to your dream home with Axis Bank Home Loans and Home Loan Eligibility Calculator!

Imagine the joy of stepping into a place you can truly call your own. Our intuitive tool takes the guesswork out of the equation, making it easier than ever to determine your eligibility for a home loan.

By entering your basic financial details, you can instantly find out the loan amount you qualify for, empowering you to make informed decisions on your homeownership journey.

Experience the convenience, transparency, and confidence you deserve on your path to homeownership. Start your journey with Axis Bank's Home Loan Eligibility Calculator today and take that leap towards your dream home!

Age
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Loan Tenure
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Net Adjusted Monthly Income
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Other EMIs
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ROI
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Check Eligibility

  • Age

    Loan Tenure

  • Net Adjusted Monthly Income

    Other EMIs

  • ROI

  • Loan Amount (In Lacs)

  • EMI

Recalculate Apply Now

What is home loan eligibility?

Since real estate prices are rising, most individuals depend on home loans to fulfil their dreams. This is when banks and financial institutions step in. However, since a home loan is a big-ticket loan and the tenures are longer than other loans, banks insist on certain eligibility criteria for borrowers.

Housing Loan Eligibility means your ability or capacity to get a loan from a bank or financial institution.

Various factors are taken into consideration to determine home loan eligibility. These factors may include the applicant's age, income, type of employment, credit profile, etc. The eligibility criteria for home loans may vary from one lender to another.

Thus, checking your home loan eligibility before applying for a loan will make the entire process smoother and lessen your chances of your loan getting rejected, which may negatively affect your credit score. Hence, before applying for an Axis Bank home loan, you must understand the eligibility criteria and ensure you fit the bill.

Let us understand the concept with an example.

Suppose two individuals, Harsh, aged 32 years, and Pratik, aged 45 years, wish to apply for a home loan of ₹10 lakh from the same lender. The monthly salaries of Harsh and Pratik are ₹75,000 and ₹50,000, respectively. Both do not have any significant financial obligations. In such a scenario, depending on the lender's eligibility criteria, Harsh is more likely to get a home loan at a lower rate than Pratik.

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How is home loan eligibility calculated?

As mentioned earlier, the lender usually sets certain criteria that the borrower must fulfil to avail of a home loan. Housing loan eligibility of Axis depends on factors including:

  • Age of the applicant
  • Number of dependents
  • Employment type
  • Income
  • Assets and existing debt obligations
  • Credit score and history

The formula to calculate home loan eligibility is complex. Hence, to aid you in realising whether you are eligible for the loan and to what extent, an online tool, Axis Bank’s Home Loan Eligibility Calculator, has been curated. With the help of this tool, you can easily understand your eligibility depending on your income and repayment capacity.

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Home Loan Eligibility Criteria

The following individuals can apply for Axis Bank Home Loans.

Salaried individualsProfessionalsSelf-employed
Who can apply?Individuals employed in permanent service in the Government or reputed companiesDoctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretaries, and management consultants.Any individual filing income tax returns can apply
Age limitMinimum age: Above 21 years at the time of loan commencement
Maximum age: Up to 60 years or superannuation, whichever is earlier at the time of loan maturity.		Minimum age: Above 21 years at the time of loan commencement
Maximum age: Up to 65 years or superannuation, whichever is earlier at the time of loan maturity.		Minimum age: Above 21 years at the time of loan commencement
Maximum age: Up to 65 years or superannuation, whichever is earlier at the time of loan maturity.
Minimum loan amount₹3 lakh
Maximum loan amountUp to ₹5 crore
Loan tenureUp to 30 years
Floating Interest Rate8.75% - 9.15%
Fixed Interest Rate14%
Processing FeeUp to 1% of the loan amount + GST (minimum ₹10,000)

You can determine your criteria for home loan using our Home Loan Eligibility Calculator. Additionally, the document checklist for different borrowers also varies.

Hence, it is best to check the documents required before applying for a home loan.

Frequently Asked Question

What is a Home Loan Eligibility Calculator?

A Home Loan Eligibility Calculator is an online tool to calculate home loan eligibility. It is an easy-to-use tool that gives you the result within seconds and eradicates the hassle of manual calculations and errors.

How to use Home Loan Eligibility Calculator?

A home loan eligibility calculator can help you identify whether or not you fit the housing loan eligibility criteria. To avoid disappointment, check eligibility before applying for a loan. Using Axis Bank's Home Loan Eligibility Calculator is quite simple. Enter details like age, loan tenure, net monthly income, other EMIs and interest rate. You will learn about the eligibility and the EMI due within seconds.

How can I enhance my home loan eligibility?

You can enhance your home loan eligibility by following the below tips:

  • Apply for longer-tenure loans
  • Apply for a joint loan with a co-applicant
  • Clear existing dues and debts
What factors determine home loan eligibility?

Various factors affect home loan eligibility. Typically, banks consider your age, income, employment type, credit score and repayment history. Having a good credit score helps in securing a loan. Additionally, location and other property details may also be taken into consideration.

How is home loan eligibility calculated based on salary?

Your net salary is a major factor determining your home loan eligibility. Your net in-hand salary determines the EMI that you can pay while meeting your monthly expenses. You are often eligible for a home loan up to 60 times your net monthly salary. For example, if your net salary is ₹50,000, you will be eligible for a loan of approximately ₹30 lakh. However, one must understand that this is not the sole factor determining your loan eligibility.

You can check Axis Bank's home loan eligibility criteria here.