Thinking about getting a home loan? Knowing the eligibility criteria before applying can help make the process smoother and faster. Discover if you meet the home loan eligibility criteria set by banks and financial institutions, and check your potential loan amount, tenure, and EMI with SuGanta.
Home Loan EMI Calculator
SuGanta’s Home Loan EMI Calculator is simple and user-friendly. Calculate your monthly instalments by following these steps:
Step 1. Enter Loan Amount: Input the desired loan amount.
Step 2. Enter Tenure: Select the loan period.
Step 3. Enter Interest Rate: Input the current interest rate.
Step 4. Calculate EMI: Click on “Calculate Your EMI” to view the estimated monthly payment.
Benefits of Using the Home Loan EMI Calculator
An EMI calculator helps you understand your finances better. Here’s why it’s a must-use tool for every home loan applicant:
- • Determine Loan Amount: Choose a loan amount based on the EMI you can afford.
- • Select the Right Tenure: Find a tenure that balances EMI affordability and interest savings.
- • Optimize Down Payment: Determine how much down payment to make for the best EMI and interest rates.
Factors Affecting Home Loan EMI
Several factors impact your home loan EMI. Knowing these can help you make an informed choice:
• Loan Amount: Higher loan amounts increase EMIs.
• Loan Tenure: Longer tenure means lower EMI but higher total interest.
• Interest Rate: With floating rates, your EMI fluctuates according to market changes.
Bank-wise Home Loan Eligibility Criteria
- Resident Type: Indian Residents and Non-Resident Indians (NRIs)
- Applicant’s Age: 21 to 70 years
- Applicant’s Age: 18 to 70 years
- Resident Type: Indian Residents and Non-Resident Indians (NRIs)
- Minimum Monthly Income: Rs 25,000 for the primary applicant
Union Bank of India Home Loan
- Applicant’s Age: 18 to 75 years
- Resident Type: Indian Residents and Non-Resident Indians (NRIs)
- Applicant’s Age: 25 to 65 years
- Resident Type: Indian Residents and Non-Resident Indians (NRIs)
- Minimum Monthly Income: Rs 18,000 for the primary applicant
- Applicant’s Age: 18 to 70 years
- Resident Type: Indian Residents and Non-Resident Indians (NRIs)
- Minimum Monthly Income: Rs 15,000 for the primary applicant, Rs 10,000 for the co-applicant
- Applicant’s Age: 18 to 70 years
- Resident Type: Indian Residents and Non-Resident Indians (NRIs)
- Minimum Monthly Income: Rs 15,000 for the primary applicant, Rs 10,000 for the co-applicant
Bajaj Housing Finance Home Loan
- Applicant’s Age: 23 to 55 years
- Resident Type: Indian Residents only
- Applicant’s Age: 18 to 60 years for salaried applicants, 18 to 65 years for self-employed applicants
- Resident Type: Indian Residents and Non-Resident Indians (NRIs)
- Minimum Monthly Income: Rs 15,000 for both the primary applicant and co-applicant
- Applicant’s Age: 21 to 60 years
- Resident Type: Indian Residents and Non-Resident Indians (NRIs)
- Minimum Monthly Income: Rs 15,000 for both the primary applicant and co-applicant
- Applicant’s Age: 18 to 70 years
- Resident Type: Indian Residents and Non-Resident Indians (NRIs)
- Minimum Monthly Income: Rs 15,000 for the primary applicant, Rs 10,000 for the co-applicant
Cholamandalam HFL Home Loan
- Applicant’s Age: 21 to 60 years
- Resident Type: Indian Residents only
- Minimum Monthly Income: Rs 15,000 for the primary applicant, Rs 10,000 for the co-applicant
Magma Housing Finance Home Loan
- Applicant’s Age: 21 to 65 years
- Resident Type: Indian Residents only
- Co-Applicant Requirement: Co-applicant with income is mandatory if the primary applicant is up to 25 years of age
SuGanta’s home loan guide simplifies the application process by helping you understand eligibility, calculate EMIs, and compare top loan offers. With clear criteria and a user-friendly EMI calculator, you can plan your finances effectively. Secure the best home loan for your needs and make your homeownership dreams a reality.