20,00,000 people visited this section in last 30 daysApply Online

Get Cashback of Upto ₹ 1,000* on Home Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

HSBC Home Loan Eligibility Calculator

Home Loan Eligibility Calculator HSBC Bank 2021

Last Updated 12th Nov 2021

Eligibility CriteriaHSBC Bank Home Loan
Eligible Age of Borrower21 - 60 years
Minimum Eligible Income ₹ 40,000 and above
Home Loan Eligibility Calculator

What is HSBC Home Loan Eligibility?

HSBC offers various home loan schemes and offers at affordable rates to eligible customers whether salaried or self-employed. HSBC home loan eligibility is defined as a set of parameters that determines the creditworthiness of the borrowers based on factors like age, salary, occupation, property type and credit score. You can get details about the eligibility for a HSBC home loan using the HSBC home loan eligibility calculator. It is an online tool that uses mathematical algorithms to check if you are eligible for a home loan or not. In addition, you can know about the amount that you are eligible for.

How is Home Loan Eligibility Calculated by HSBC?

HSBC Housing loan eligibility is primarily dependent on income and repayment capacity. Other factors that may impact the eligibility of home loans are age, financial position, credit history, credit score, other financial obligations etc.

HSBC Home Loan Eligibility Based on Age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. The minimum HSBC Bank home loan age limit to get a HSBC Bank home loan is 21 years at the time of loan commencement and maximum age limit is 60 years. HSBC Bank offers home loans for a maximum period of 30 Years subject to the condition that the borrower’s age at the end of the tenure must not exceed 60 of tenure.

HSBC Home Loan Eligibility Based on Salary

  • Net income: Your net monthly income determines how much HSBC Bank home loan EMI you are capable of paying after meeting all the living expenses based on your standard of living. For instance, if your salary is ₹ 25,000 then at an interest rate of 6.70% offered by HSBC Bank, the loan amount that you will be eligible for would be ₹ 28,68,649 to ₹ 48,35,689 depending on your age. Similarly, if your salary is ₹ 75,000, you might get eligible for a loan amount of ₹ 57,37,298 to ₹ 96,71,379 for the same property at the same rate depending on your age at the time of loan application. However, HSBC Bank asks for a net monthly income of ₹ 40,000 to avail a home loan.
Age Net Monthly Income (₹)
25,000 50,000 75,000
25 years48.36 Lakh72.54 Lakh96.71 Lakh
30 years48.36 Lakh72.54 Lakh96.71 Lakh
35 years48.36 Lakh72.54 Lakh96.71 Lakh
40 years43.76 Lakh65.64 Lakh87.53 Lakh
45 years37.43 Lakh56.14 Lakh74.85 Lakh
50 years28.69 Lakh43.03 Lakh57.37 Lakh

You may consider repaying any loans with short tenure and high EMI to increase your HSBC Bank home loan eligibility.

  • Nature of employment: HSBC Bank will check whether you are salaried or self-employed and the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. HSBC Bank requires minimum income history and job stability of more than 0 years for salaried individuals and of 0 years for self-employed individuals.

Home Loan Eligibility HSBC Bank based on Value of Property

  • Value of property: HSBC Bank does not finance the entire property value. The maximum home loan eligibility would depend upon the value of the property as shown below:
Property Value LTV
Less than 30 Lakh90%
Between 30 Lakh and 75 Lakh80%
Above 75 Lakh75%
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the HSBC Bank's legal team.

The housing loan eligibility calculator of HSBC Bank can be a useful tool to assess your eligibility for the loan.

HSBC Housing Loan Eligibility Calculator based on FOIR

FOIR (Fixed Obligation to Income Ratio) is an important parameter used by HSBC Bank to determine your home loan eligibility. HSBC Bank considers all your fixed obligations like current EMIs into account while estimating your eligibility. The minimum FOIR required to be eligible for an HSBC Bank home loan is 0.65. Calculate your eligibility with the HSBC Bank home loan calculator and apply for the eligible loan amount hassle-free.

HSBC Bank Home Loan Eligibility for Women

HSBC Bank offers the same rates to women borrowers starting at 6.70% with similar eligibility criteria for home loan. In the case of a joint home loan, the woman borrower also needs to be the co-owner of the property and should have a good credit history to get the joint home loan application passed for concessional rates.

Minimum CIBIL Score for HSBC Home Loan

HSBC considers credit score as a barometer to gauge your past credit behaviour, and hence, CIBIL score becomes the most important factor in defining your eligibility to get a home loan. A higher credit score increases your chances to get loan approval from HSBC. However, a low CIBIL score reduces your chances to get a home loan. HSBC requires a minimum credit score of 650 to be eligible for a home loan.

How to Enhance HSBC Home Loan Eligibility?

You can enhance the HSBC home loan eligibility using the tips mentioned below:

  • Add an earning family member as a co-applicant.
  • Ensure a steady income flow, regular savings and investments.
  • Provide details of your regular additional income sources.
  • Track your variable salary components.
  • Take actions to rectify errors (if any) in your credit score.
  • Repaying ongoing loans and short term debts.

How to Use HSBC’s Home Loan Eligibility Calculator?

To check HSBC Bank home loan eligibility perform the following steps:-

  • Go to the HSBC Bank website
  • Now navigate to the option HSBC Bank home loan
  • To check eligibility criteria use a home loan eligibility calculator.
  • Fill the required details like loan amount required, salary, age etc.

Also, you can contact the bank by calling on their customer care number .

FAQs

What is the criteria to get HSBC Bank home loan?

The basic criteria to get a home loan from HSBC Bank are as following:

Age21 - 60 years
Income ₹ 40,000
Income3 years for salaried, 5 years for self-employed
Credit score650 and above

How much home loan can I get on my salary from HSBC Bank?

The amount for which you are eligible is calculated based on the FOIR and LTV. The higher your income, and the least is your fixed obligations (mostly ongoing EMIs), the higher will be your eligibility for a home loan.

What is the minimum salary to get home loan from HSBC Bank?

The minimum salary required to avail home loan from HSBC Bank is ₹ 40,000.for salaried borrowers. The income criteria for self employed professionals or businessmen may vary in HSBC Bank.

Is HSBC Bank good for home loan?

The lowest interest rate provided by HSBC Bank is 6.45% which is a best rate in the market. There are no prepayment charges on floating rate based home loan. Hence, you can consider this as a good option for housing loan.

Does adding a co-applicant increase housing loan eligibility?

Yes, adding a co-applicant with an independent income source increases housing loan eligibility significantly. By doing so you will be able to get a higher loan amount and also both of you can save on taxes under Income Tax Act.

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.50%. Cashback of up to ₹ 1,000

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000.

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.00% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 6.90%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
HSBC Home Loan News - Nov 2021
  • 2021-10-19 : HSBC Bank Cuts Home Loan Interest Rate
    HSBC Bank has reduced home loan interest rate by 35 basis points. Currently, the bank is offering a home loan at an interest rate of 6.45 percent. The processing fee on a home loan is Rs 10,000.
  • 2021-10-04 : HSBC Bank Reduces Home Loan Balance Transfer Rates
    HSBC Bank has reduced home loan balance transfer rates by 10 basis points (bps). Now the bank is offering a home loan at 6.45% to the borrowers who want to transfer the loan. The lender has also waived off processing fees for the borrowers.
  • 2021-08-24 : HSBC Bank reduces home loan rate by 0.56%
    HSBC Bank- India’s leading financial institution- has revised the home loan interest rate. The interest rate charged on a home loan is 6.64%, earlier it was 7.20%. A processing fee of a total of 1% of the loan amount sanctioned or ₹10,000 (whichever is lower) will be charged.
  • 2021-08-11 : HSBC Bank increases interest rate on home loan
    HSBC Bank has increased home loan interest rate by 0.40%. Now, the lender is offering home loans at 7.20% to the salaried employees and the interest rate for self-employed and businessmen is 7.30%.
  • 2021-01-15 : HDFC Bank revised its home loan rates
    HDFC banks revised its home loan rates. The lowest home loan for customers above the CIBIL score of 750 is 6.80%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
Loader
Please wait while your information is being processed...