HDFC Home Loan Eligibility!!

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

Age21 – 65 years
Employment TypeSalaried and Self-employed professional and non-professional
Minimum Salary for SalariedRs.10,000 per month
Minimum Salary for Non-SalariedRs.2 lakh per annum
HDFC Home Loan Eligibility!!

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.

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HDFC Home Loan Eligibility!!
Monthly IncomeLoan Amount
Rs. 25,000Rs.15,18,372
Rs. 30,000Rs.20,49,802
Rs. 35,000Rs.23,91,436
Rs. 45,000Rs.30,74,703
Rs. 50,000Rs.34,16,337
Rs. 55,000Rs.41,75,523
Rs. 60,000Rs.45,55,116
Rs. 65,000Rs.49,34,709
Rs. 70,000Rs.53,14,302
Rs. 75,000Rs.56,93,895
HDFC Home Loan Eligibility!!

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 AgeMaximum Eligible Tenure
21 – 35 years30 years
36 years29 years
37 years28 years
38 years27 years
39 years26 years
40 years25 years
41 years24 years
42 years23 years
43 years22 years
44 years21 years
45 years20 years
HDFC Home Loan Eligibility!!

HDFC Home Loan Eligibility based on Value of Property

Property ValueLTV Ratio
Up to Rs.30 lakh90% of the property cost
From Rs.30 lakh to Rs.75 lakh80% of the property cost
Above Rs.75 lakh75% of the property cost
HDFC Home Loan Eligibility!!

HDFC Home Loan Eligibility Based on Credit Score

RatingCredit Score
Good750 and above
Average600 – 750
PoorBelow 600
HDFC Home Loan Eligibility!!

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.

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HDFC Home Loan Eligibility!!

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
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HDFC Home Loan Eligibility

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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