Home Loan Eligibility Calculator

Eligibility on your home loan using Piramal Finance Home Loan Eligibility Calculator

Are you planning to apply for a home loan, but you are not sure whether you are eligible? A hassle-free way to check your home loan eligibility is to use an online calculator. Lending institutions consider various factors to determine whether you are eligible for a home loan.

In the Piramal Finance home loan eligibility calculator, you will have to enter various details to determine whether you qualify for the loan. It will ensure that home buyers don’t get rejected after applying for a home loan.

Your home loan eligibility is
Results generated by the calculator is indicative in nature. Piramal Capital Housing Finance Limited (“PCHFL”) does not guarantee accuracy, commitment, undertaking, completeness, or correct sequence of any the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained / data generated herein or on its completeness/accuracy.

The calculator is only a tool that assists the users to arrive at results of various illustrative scenarios generated from the data input by the users. The user should exercise due care and caution (including if necessary, obtaining of advise of tax/legal/accounting/financial/other professionals) prior to taking of any decision, acting, or omitting to act, on the basis of the information contained/data generated herein.

PCHFL does not undertake any liability or responsibility to update any data. No claim (whether in contract, tort (including negligence) or otherwise) shall arise out of or in connection with the services against PCHFL. Neither PCHFL nor any of its agents or licensors or group companies shall be liable to user/any third party, for any direct, indirect, Incidental, special, or consequential loss or damages (including, without limitation for loss of profit, business opportunity or loss of goodwill) whatsoever, whether in contract, tort, misrepresentation or otherwise arising from the use of these tools/information contained/data generated herein.
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Eligibility Table

AgeMaximum Tenure
25 years30 years
30 years30 years
35 years30 years
40 years30 years
45 years25 years
50 years20 years

Amortization Chart

Check out the home loan amortization schedule below:

YearOutstanding Loan AmountPrincipal Amount Interest Amount EMI
₹ 5,181,170.00
₹ 66,908.58
₹ 43,176.42
₹ 110,085.00
₹ 5,114,261.42
₹ 847,750.56
₹ 473,269.44
₹ 1,321,020.00
₹ 4,266,510.86
₹ 936,521.11
₹ 384,498.89
₹ 1,321,020.00
₹ 3,329,989.75
₹ 1,034,587.12
₹ 286,432.88
₹ 1,321,020.00
₹ 2,295,402.63
₹ 178,098.10
₹ 1,321,020.00
₹ 1,152,480.73
₹ 1,152,515.47
₹ 58,419.53
₹ 1,210,935.00

What is Home Loan Eligibility?

Home loan eligibility can be described as a set of criteria depending on which a lender determines the creditworthiness of an applicant. Financial institutions check house loan eligibility to ensure that you will succeed at repaying the loan within the predetermined tenure.

Home Loan Eligibility Criteria

At Piramal Finance, the home loan eligibility criteria are as follows:

  • To be eligible, applicants need to be self-employed or employed by a public or private sector enterprise or an MNC.
  • For self-employed applicants, the age limit for a home loan is 23 to 70 years.
  • For salaried individuals, the age limit is 21 years to 62 years. In the case of government employees, the maximum age limit is 70 years.
  • A CIBIL score of 750 is preferable for a Piramal Finance home loan.

How to Check Piramal Finance’s Home Loan Eligibility?

For a mortgage eligibility check, you can utilize the housing loan eligibility calculator from Piramal Finance. To determine your eligibility, you will need to enter information such as your occupation, age, income, and so on. The amount you can borrow is determined by your eligibility.

How is Home Loan Eligibility Calculated?

Home loan eligibility calculation is primarily done after assessing the annual income of the applicant. After that, the age, credit history, credit score, and financial position of the applicant are taken into account.

Factors Affecting Home Loan Eligibility

The answer to “how much home loan can I get” depends on the following factors:

Self Employed

Self-employed professionals like doctors and architects can also apply for a home loan. The age limit for self-employed professionals to qualify for a home loan is 23 years to 70 years.


Piramal Finance has set a specific monthly net income for applicants according to where they live. While using a home eligibility calculator, you will have to enter your net annual income to check whether your loan application will get approved.

Independent Professionals

Independent professionals like business owners, partners of partnership firms, and proprietors are also eligible for a home loan from Piramal Finance. The age limit for independent professionals to qualify for a home loan is 23 years to 70 years.

Loan Term

The loan tenure you choose has a huge impact on your housing loan eligibility amount. When you have chosen a longer home loan tenure, your EMIs will be lower. When you enter a high loan tenure on a home loan eligibility checker, your chances of approval are higher because the EMIs become more affordable.

Age Limit

Banks want to know how many years applicants have left as salaried or working professionals. When you are getting a home loan years before your retirement, the chances of approval are higher. You will certainly have the edge over other applicants when you are in the early years of your career.

Outstanding Loan(s)

When you check housing loan eligibility, multiple loans and debts won’t affect your chances. However, too many unpaid loans are going to be a problem. Missing EMI payment dates and undisciplined credit history are going to negatively impact your chances of home loan approval.

CIBIL Score Report

Your CIBIL Score Report shows whether you have been good at managing your credit history. Your CIBIL score depends on factors like your repayment history, credit card dues, and existing loans. An ideal CIBIL score to be eligible for a home loan is 750 on a scale of 300 to 900. The purpose of checking your CIBIL score is to assess your repayment capacity and financial credibility.

Rate of Interest

A fixed rate, a floating rate, or a mixed interest rate are all options. Floating interest rates fluctuate in response to Reserve Bank of India changes (RBI). If the latest RBI guidelines result in lower interest rates, your EMIs will be lower as well, and vice versa. A fixed interest rate remains constant throughout the term of your loan. Loans with mixed interest rates begin with a fixed interest rate for a set period of time before switching to a floating interest rate.

LTV and Property Value

Lenders are also concerned about the property for which you are taking a loan. If the market value of your dream home is higher, you will qualify for a higher loan value, and vice versa. Therefore, you need to be able to choose the right value to substantially increase your funds.

The bank will also check the down payment you make and the financing amount you need. It becomes easier to get a home loan when you have the capital for a 20% down payment. If you need more funds, you will usually have to pay a higher rate of interest.

Salaried Individual

Salaried individuals working in either the public or private sector are eligible for a home loan. Employees in government institutions, MNCs, proprietorship concerns, and partnership firms are also eligible. Moreover, people working in NGOs or related organizations are also eligible.

The minimum age to be eligible for a housing loan is 21 years, and the maximum is 60 years. But for government professionals, the age limit is up to 70 years because they have pensions. However, the home loan can be availed as long as the individual stays an income contributor.

How to Increase Home Loan Eligibility?

If you wish to increase home loan eligibility, you should keep in mind the following:

  • Choose a co-applicant who has a good credit score.
  • Maintain a CIBIL score of more than 750.
  • Always repay your debts on time.
  • Declare your additional sources of income.
  • Pick a longer tenure to repay your home loan.
  • Keep the Fixed Obligation to Income Ratio below 40%.
  • Put down a higher down payment.

Frequently asked questions

What is the minimum salary to get a home loan?
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How much home loan can I get for my salary?
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Is it beneficial to use a home loan eligibility checker?
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How much housing loan can I get from the bank?
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What are home loan eligibility documents?
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What is the role of a co-applicant in home loan eligibility?
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What are the eligibility criteria for home loan Subsidy?
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Can I get a top-up loan in addition to my existing home loan?
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Can I borrow a loan for an under-construction property?
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Who is eligible for a joint home loan?
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Are my children eligible to be co-applicants for my home loan?
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Am I eligible for tax benefits if I take a home loan?
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Will I be eligible for a home loan if I have a bad credit score?
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What is the process of disbursement for an under-construction property?
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What security needs to be provided when applying for a home loan?
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Can I get a higher loan through my existing loan account to buy a new property?
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