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15 Nov, 2025
Are you dreaming of owning your own home, but wondering if you'll be eligible for a home loan? Calculating your home loan eligibility can seem like a daunting task, but it's not as complicated as it might appear. In fact, you can do it yourself with a few simple steps. So, let's break it down and see how you can determine your home loan eligibility.
The first step in calculating your home loan eligibility is to assess your monthly income. Let's say your monthly income is 51,000 Rupees. Typically, banks provide loans based on a percentage of your monthly income, usually between 50% to 60% of your EMI (Equated Monthly Installment).
For our example, let's consider 50% of your monthly income, which would be 25,500 Rupees. Now, let's figure out the EMI for a 1 lakh Rupees loan with the prevailing interest rate, which is typically around 7-8% for a 20-year loan. This comes to about 850 Rupees per month.
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