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Eligibility standards for Home or Housing Loan, Home Improvement, Extension or a Land Purchase Loan in India





Banks have different set of eligibility standards to offer Housing or Home Loan, Home Improvement or Extension Loan or a Land Purchase Loan in India. Here we have listed common set of eligibility standards to give you an overview.

If you need detailed information you can visit respective bank’s website or contact us or fill up the form to know about the best home or housing loan solution (free) in India.

Home or Housing Loan for Salaried Individuals:

Age of the applicant

18 years to 65 years

Maximum age of applicant to repay

65 to 70 years or Retirement (whichever is early)

Minimum Annual Income

Rs. 72,000/- or above (may include spouse’s income)

Work Experience

2 Years

Stay at Current Residence

1 year (at least)

Telephone

Compulsory at home and / or office

Others:

Declaration of assets and Liabilities of the applicant or applicants

Satisfactory completion of health declaration form

Home or Housing Loan for Self Employed Individuals:

Age of the applicant

21 to 65 years (Max)

Work experiences

3 years (Min)

Gross annual Income

Rs.100000/- and above

Loan tenure

5 years to 20 years