Question: Who Can Apply For Home Loan?

What is the criteria for home loan?

What is home loan eligibility?Home Loan eligibility criteriaAge Limit of Salaried Individuals23 to 62Required CIBIL Score for Home LoanMinimum 750Work experience of Salaried ApplicantsMinimum 3 YearsBusiness ContinuityMinimum 5 Years3 more rows.

Who can avail home loan?

Housing Loan Eligibility DetailsBankLoan Amount Eligibility for Max TenureAge of Eligible BorrowerCitibank Home Loan Eligibility₹ 5 Cr for 25 years23 to 60 yearsICICI Bank Home Loan Eligibility₹ 7 Cr for 30 years21 to 60 yearsAxis Bank₹ 2 Cr for 30 years24 to 60 yearsPNB Housing Finance₹ 5 Cr for 30 years21 to 70 years48 more rows

How much loan can I get on 35000 salary?

If you are taking a home loan for 35,000 salary, you can get a maximum loan amount of Rs. 20,16,481 at say an 8.5% interest rate for a tenure of 20 years. In this situation, the home loan EMI amount you would pay is not more than Rs. 17,500.

How much amount of home loan can I get?

Your Home Loan Eligibility will be calculated after deductions of the EMIs that you are paying. Generally, the banks provide maximum upto 85% of loan against the value of property. Therefore, if you want a home loan for buying a property of Rs. 50 lakhs, the maximum amount you can get is 85% of that ie 42.50 lakhs.

Which bank gives fastest home loan?

Best Bank for Home Loan in India 2020#1. ICICI Bank Home Loan.#2. State Bank of India Home Loan.#3. HDFC Bank Home Loan.#4. Axis Bank Home Loan.#5. Dewan Housing Finance Ltd. ( DHFL)#6. Indiabulls Home Finance.#7. LIC Housing Finance Home Loan.#8. PNB Housing Finance.More items…•

How much loan I can get if my salary is 25000?

Most lenders determine the maximum loan amount up to 10 times of your monthly salary. If you earn Rs. 25,000 per month, you may become eligible for up to Rs. 2.5 Lakhs.

What is the EMI for 20 lakhs home loan?

Housing Loan Interest CalculatorEMI for various home loan amounts15 years20 years₹ 20 Lakh₹ 17,698₹ 15,207₹ 25 Lakh₹ 22,123₹ 19,009₹ 30 Lakh₹ 26,547₹ 22,811₹ 50 Lakh₹ 44,245₹ 38,0181 more row

How much loan can I get if my salary is 15000?

Salary of 15000, Am I eligible for Loan? Check here onlineProductSalaryMin. loan amountPersonal Loan1500040000Home Loan15000300000Car Loan15000100000Credit Card15000

How is EMI for home loan calculated?

The mathematical formula for calculating EMIs is: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for the loan amount or principal, R is the interest rate per month [if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)], and N is the number of monthly instalments.