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Home Loan Eligibility in Top 5 Banks

Home Loan Eligibility in Top 5 Banks

Last Updated : March 25, 2016, 11:05 a.m.

Are you planning to avail a home loan, but don’t know your eligibility yet? Well, nothing to worry because these days it is easy to grab any information. Yes, with many online portals available, it becomes quite easy to get the information at your fingertips. These sites do the thorough research and after collecting the data from different lending institutes or banks they make sure to provide you the information at one place. Whether you are setting at your home, travelling by a metro or using your system, you can get the information online without any hassle. However, one thing that needs to be mentioned here is the fact that once you start searching online, you will find endless renowned banks offering you the same information. Thus, there is every possibility for you to get confused.

With plenty of information, facts and figures, usually people get confused and won’t be able to choose best home loan deal among many. But, now no worries as this article will give you all the required information regarding the home loan eligibility criteria in different banks. It doesn’t matter whether you are salaried, self-employed or professional, this article will give you a good brief about all. So, just take a look below and know the home loan eligibility criteria in major banks.

BankEligibilitySalariedSelf EmployedProfessionals
SBI (State Bank of India)age18 years to 70 years21 years to 70 yearsNA
incomeRs.1,20,000 (p.a.)Rs.2,00,000 (p.a.)NA
loan amount offered5,00,000 - 1,00,000005,00,000 - 2,00,00000NA
tenure5 years-20 years5 years-20 yearsNA
holding same business2 years3 yearsNA
interest rate9.50% - 9.55%9.50% - 9.55%NA
axis bankageabove 24 years-60 yearsabove 24 years-65 yearsabove 24 years-65 years
interest rate9.60%-11.75%(p.a.)9.70%-11.75%(p.a.)NA
loan amount offeredRs 1 crore & aboveRs 1 crore & aboveNA
TenureUpto 20 yearsUpto 20 yearsNA
pnb housingagenot nore than 70 yearsnot more than 65 yearsnot more than 65 years
IncomeRs.12000/- p.mRs.12000/- p.mRs.12000/- p.m
Interest rate9.75%-9.959.95%-10.259.75%-9.95
Tenure30 years30 years30 years
united bank of indiaageabove 21 yearsabove 21 yearsabove 21 years
incomeregular incomeregular incomeregular income
holding same businessNAleast 02 years in trade or professionleast 02 years in trade or profession
bajaj finservage21 years-65 years28 years -70 yearsNA
holding same businessNAminimum 5 Years in same businessNA
loan amount offeredNA30, 00, 000-15,00,0000NA
incomeRs. 40,000-80,000(monthly)NANA
Interest rate9.50%NANA
holding same businessNAminimum 5 yearsNA

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