How to Calculate Home Loan Eligibility | Kotak Mahindra Bank - Home Loan Stories
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13 DECEMBER, 2021

Digitization has made all the processes faster. Now you can gather any information in the blink of an eye. For instance, if you need a home loan, you need not wait in queues at the bank branch and wait for your turn to gather details. Neither do you need to visit the branch several times to get your loan approved. Everything can be done from the comfort of your house. You can explore the different options available, check the features, pick a suitable lender and start the application process. Moreover, you need not wait for the bank representative to tell you if you are eligible for the loan or not. You can calculate your eligibility using a home loan eligibility calculator.

If you have been planning to avail a housing loan, you must first know if you are eligible for one. Instead of personally visiting the bank’s branch, you can use Kotak Bank’s eligibility calculator. Let's see how.

What is a home loan eligibility calculator?

It is an online tool that can help you determine if you are eligible for the loan amount you wish to borrow. You can find Kotak’s loan eligibility calculator on the website and enter your monthly income, tenure to calculate your eligibility. It can also help you determine your loan amount and aid you in preparing the estimates of funds you would need to buy your house.

How to use Kotak’s home loan eligibility calculator?

To use Kotak’s home loan eligibility calculator, you would need the following variables - monthly income, tenure, any existing obligations, etc.

  • Step 1: Visit the home loan webpage and click on the eligibility calculator tab
  • Step 2: Enter your date of birth
  • Step 3: Select your city of residence from the drop-down menu
  • Step 4: Enter your monthly income in the space given below or use the slider
  • Step 5: Fill in other monthly obligations like EMI, etc.

You can then instantly view your home loan eligibility amount and proceed with the application.

What are home loan eligibility criteria?

Factors like your age, income, city of residence, existing loan obligations, etc., affect your home loan eligibility.

To avail a housing loan, you need to meet the following eligibility criteria:

  • You must be an Indian resident.
  • If you are a salaried person, your age should be between 18-60 years.
  • If you are self-employed, your age should be between 18-65 years.
  • Your minimum income should be Rs 20,000 per month if you live in Delhi, Mumbai, Bangalore, Pune, and Chennai and Rs 15,000 if you live in any other city.
  • You should be at least a graduate if you are employed with a private company or a partnership firm.


You must also know that your credit profile is a significant eligibility criterion. To avail a housing loan at competitive interest rates, you must have a credit score of 750 and above. Using Kotak’s home loan eligibility calculator will help you choose an affordable house and plan your loan efficiently. So, what are you waiting for? Check your eligibility and apply for home loan, today.

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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.