How to Use Kotak Bank's Home Loan Eligibility Calculator | Kotak Mahindra Bank - Home Loan Stories
  • Personal
  • Business
  • Corporate
  • Private Banking
  • Privy League
  • NRI Services
  • Investors
  • Personal
  • Business
  • Corporate
  • Private Banking
  • Privy League
  • NRI Services
  • Investors
Apply Now
22 MARCH, 2022

Apart from being an asset, homes are a status symbol for many people in India. It signifies their success, wealth and position in society. Naturally, having a home is a big achievement for many Indians. However, with high real estate prices, it also sometimes remains a far-fetched dream. Home loans thankfully help them buy their own homes without dipping into their savings. If you are reading this, maybe you plan to opt for a home loan too.


However, to avail a home loan, the first thing you need to do is check your eligibility. Unless you are eligible for a home loan, you cannot get approval for a home loan. Therefore, before applying or hunting for houses, you must ensure that you meet the eligibility criteria. Kotak bank’s home loan eligibility calculator can help you determine your eligibility. Take a look. 


What is home loan eligibility?



  • For salaried applicants, the minimum age limit is between 18 to 60 years
  • For self-employed applicants, the minimum age limit is between 18 and 65 years.


Gross income

  • You must have a minimum gross income of Rs 20,000 per month if you reside in Delhi, Mumbai, Bangalore, Pune or Chennai.
  • For applicants living in other cities, the minimum income should be at least Rs 15,000.



  • The applicants should have an existing job experience of at least two years.
  • If employed with a private limited company or partnership firm, the minimum academic qualification required is a bachelor’s degree.
  • No minimum qualification is required if employed with a government or public sector company or MNC.


What is a home loan eligibility calculator?

The home loan eligibility calculator is an online computation tool that you can use to determine your eligibility for a home loan. With this tool, you can check if you are eligible for a home loan and how much amount you can borrow. You can find this calculator on the lender’s website, enter the relevant information and get the eligible loan amount for you. You can use the eligibility calculator with the following steps:


  • Visit the Kotak Mahindra Bank’s website and click on the eligibility calculator.
  • Click on the relevant circle to record if you are self-employed or salaried or self-employed non-individual.
  • Enter your monthly salary.
  • Enter your existing financial obligations.
  • Enter the loan tenure.
  • Enter the current interest rates.


Your eligibility will be displayed on the right side instantly. You can see the maximum amount of loan you can avail.


Benefits of eligibility calculator

  • You can check if you are eligible for the home loan and avoid your application from getting rejected.
  • You can check the maximum loan amount you are eligible for.
  • You can easily find it on Kotak Bank’s website and use it any number of times by changing the variables.


After checking your home loan eligibility with this calculator, you can make an informed decision and plan your finances accordingly. However, you must know that lenders could change the eligible loan amount after reviewing your credit score and the house property. 

Latest Comments

Leave a Comment

200 Characters

Read Next

Bank vs. HFC: What Should You Choose for Your Home Loan?


Stamp Duty & Property Registration Charges in Chennai, Tamil Nadu


What is Prime Lending Rate? Meaning, Characteristics in Banking & Importance

Load More

Disclaimer: This Article is for information purpose only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank make no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.