HDFC Home Loan Eligibility!!: HDFC offers home loans to eligible customers at affordable interest rates starting at 6.90% p.a. The home loan can be repaid over a period of 30 years. However, you will get a loan only if the bank deems you eligible. Your home loan eligibility depends on various parameters, including your employment status, age, credit score, and monthly/annual income, to name a few. Depending on your eligibility, the bank will finalize your loan amount and approve your application.
HDFC Home Loan Eligibility Criteria
| Age | 21 – 65 years |
| Employment Type | Salaried and Self-employed professional and non-professional |
| Minimum Salary for Salaried | Rs.10,000 per month |
| Minimum Salary for Non-Salaried | Rs.2 lakh per annum |
HDFC Home Loan Eligibility!!
HDFC Ltd. Home Loan Eligibility Based on Salary
The loan amount you will be eligible for based on your salary has been mentioned in the table below. While determining the amount, the repayment tenure was considered as 30 years, existing EMIs as nil and the interest rate is 6.90% p.a.
In case, you want to check your eligibility based on your salary you can use the HDFC’s Home Loan eligibility calculator.
| Monthly Income | Loan Amount |
| Rs. 25,000 | Rs.15,18,372 |
| Rs. 30,000 | Rs.20,49,802 |
| Rs. 35,000 | Rs.23,91,436 |
| Rs. 45,000 | Rs.30,74,703 |
| Rs. 50,000 | Rs.34,16,337 |
| Rs. 55,000 | Rs.41,75,523 |
| Rs. 60,000 | Rs.45,55,116 |
| Rs. 65,000 | Rs.49,34,709 |
| Rs. 70,000 | Rs.53,14,302 |
| Rs. 75,000 | Rs.56,93,895 |
HDFC Home loan Eligibility Based on Age
Applying for an HDFC home loan early will ensure that you can get a longer repayment tenure. This will help in lowering the EMI and ensure that your financial priorities are taken care of.
| Applicant Age | Maximum Eligible Tenure |
| 21 – 35 years | 30 years |
| 36 years | 29 years |
| 37 years | 28 years |
| 38 years | 27 years |
| 39 years | 26 years |
| 40 years | 25 years |
| 41 years | 24 years |
| 42 years | 23 years |
| 43 years | 22 years |
| 44 years | 21 years |
| 45 years | 20 years |
HDFC Home Loan Eligibility based on Value of Property
| Property Value | LTV Ratio |
| Up to Rs.30 lakh | 90% of the property cost |
| From Rs.30 lakh to Rs.75 lakh | 80% of the property cost |
| Above Rs.75 lakh | 75% of the property cost |
HDFC Home Loan Eligibility Based on Credit Score
| Rating | Credit Score |
| Good | 750 and above |
| Average | 600 – 750 |
| Poor | Below 600 |
To avail a home loan from HDFC, your minimum credit score should be 650. It makes the chance of your loan application getting approved better.
HDFC Home loan for Women’s Eligibility
For women applicants, the eligibility criteria laid down by HDFC for a home loan is similar to other applicants. However, women applicants are eligible for a 05 bps interest rate concession on the loan.
HDFC Home loan Eligibility for Co-Applicant
In case, you are applying for a home loan along with a co-applicant, the co-applicant will also need to fulfil the eligibility criteria laid down by the bank. The eligibility criteria are as follows:
- Age should be between 21 and 65 years of age.
- Must be resident Indian
- Should be salaried or self-employed
- Co-applicants should not be co-owners
Factors Affecting HDFC Home Loan Eligibility
Some of the factors which affect HDFC home loan eligibility are listed below:
- Age of the applicant
- Financial position of the applicant
- A good repayment record
- Good credit score
- Existing liabilities to judge the incremental burden of the additional loan
- Profile of the applicant
- Specifications which the underlying property such as age of the property, its size, etc.
- Take into consideration whether the applicant is a guarantor to an existing loan
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