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IIFL Home Loan Eligibility Calculator

IIFL Home Loan Eligibility in India 2021

Last Updated 09th Jun 2021

Eligibility CriteriaIIFL Home Loan
Eligible Age of Borrower18 - 70 years
  • IIFL home loan eligibility is dependent on factors like your age, income, property value and repayment capacity.
  • IIFL calculates the amount of home loan you are eligible for using a formula that includes your net take home salary, the EMIs you have to pay and the value of property.
  • You can increase your eligibility to get a housing loan from IIFL by adding earning family members as co-applicants or by applying for a longer tenure loan.
Home Loan Eligibility Calculator

IIFL Home Loan Eligibility

IIFL offers various home loan schemes and offers at affordable rates to eligible customers whether salaried or self-employed. IIFL housing loan eligibility is based on factors like age, salary, occupation, property type and credit score. Detailed information on these factors is mentioned in the further sections.

IIFL 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 age limit to get IIFL home loan is 18 years at the time of loan commencement and maximum age limit is 70 years. IIFL 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 70 of tenure.

IIFL Home Loan Eligibility based on Salary

  • Net income: Your net monthly income determines how much IIFL 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 interest rate of 6.75% offered by IIFL, the loan amount that you will be eligible for would be ₹ 37,58,697 to ₹ 42,46,297 depending on your age. Similarly, if your salary is ₹ 75,000, you might get eligible for a loan amount of ₹ 75,17,395 to ₹ 84,92,594 for the same property at the same rate depending on your age at the time of loan application. However, IIFL asks for a net monthly income of ₹ 0 to avail a home loan.
Age Net Monthly Income (₹)
25,000 50,000 75,000
25 years42.46 Lakh63.69 Lakh84.93 Lakh
30 years42.46 Lakh63.69 Lakh84.93 Lakh
35 years42.46 Lakh63.69 Lakh84.93 Lakh
40 years42.46 Lakh63.69 Lakh84.93 Lakh
45 years40.53 Lakh60.80 Lakh81.06 Lakh
50 years37.59 Lakh56.38 Lakh75.17 Lakh

You may consider repaying any loans with short tenure and high EMI in order to increase your IIFL home loan eligibility.

  • Nature of employment: IIFL 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. IIFL 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 IIFL based on Value of Property

  • Value of property: IIFL 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 IIFL's legal team.

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

Minimum CIBIL Score for IIFL Home Loan

  • CIBIL Score: IIFL considers credit score as a barometer to gauge your past credit behaviour and hence, CIBIL score becomes the most important factor to define your eligibility to get a home loan. Higher credit score increases your chances to get loan approval from IIFL However, low CIBIL score reduces your chances to get a home loan. IIFL requires a minimum credit score of 650 to be eligible for a home loan.

IIFL Housing Loan Eligibility Calculator based on FOIR

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

IIFL Home Loan for Women Eligibility

IIFL offers the same rates to women borrowers starting at 6.75% with similar eligibility criteria for home loan. In 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.

How can I Check my IIFL Home Loan Eligibility ?

To check IIFL home loan eligibility perform the following steps:-

  • Go to the IIFL website
  • Now navigate to the option IIFL 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 1860-267-3000/ 703-905-0000.

Other Loan Calculators


What is the criteria to get IIFL home loan?

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

Age18 - 70 years
Income ₹ 0
Income3 years for salaried, 5 years for self-employed
Credit score650 and above

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

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 IIFL?

The minimum salary required to avail home loan from IIFL is ₹ 0.for salaried borrowers. The income criteria for self employed professionals or businessmen may vary in IIFL.

Is IIFL good for home loan?

The lowest interest rate provided by IIFL is 8.45% 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.

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IIFL Home Loan News - Jun 2021
  • 2021-06-09 : Growth of upto 18% expected by IIFL Home Finance on loans
    IIFL Home Finance expects a growth on its loan book which includes Home loans and Loan against property of upto 18%.
  • 2021-01-20 : IIFL Home Finance and Standard Chartered Bank joined hands for co-lending
    IIFL Home Finance and Standard Chartered Bank joined hands for extending credit. It is one of the first co-lending partnership after Reserve Bank India’s co-lending guidelines were issued. Under this co-lending agreement, IIFL Home Finance Ltd and the Standard Chartered Bank will co-originate these loans and the IIFL Home Finance Ltd will service the customers through the entire loan life-cycle including.
  • 2020-08-24 : IIFL Home Finance launches the next phase of green affordable housin
    IIFL Home Finance announced the launch of the sixth edition of Kutumb initiative. The initiative focuses on promoting green affordable housing.
  • 2019-08-06 : IIFL Finance to raise up to Rs. 1,000 crore through bonds
    One of the leading non-banking financial company, IIFL Finance, has plans to raise up to Rs. 1,000 crore through a public issue of bonds. The funds will be raised to augment its business growth and expansion and to meet the needs of the underserved population like providing easy loans and deposits to them at doorsteps.
  • 2019-07-18 : IIFL comes up with unique home loan ‘Swaraj’ for the informal segment
    One of the leading housing finance companies, IIFL Home Finance has come up with a unique home loan ‘Swaraj’ to meet the needs of the borrowers in the informal segment. Home loans offered under Swaraj are between Rs. 2 lakh and Rs. 20 lakh.
*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
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