PNB Home Loan Eligibility Calculator India Sep 2017

PNB 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. To be eligible for PNB home loan, you must be at least 21 years of age at the time of loan commencement. PNB 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 30 years for salaried borrowers and 30 years for self employed borrowers. The maximum tenure of loan that you may be eligible for will be as follows:

Your current age	Max tenure for salaried	Max tenure for self employed
25 years	30 years	30 years
30 years	30 years	30 years
35 years	25 years	30 years
40 years	20 years	25 years
45 years	15 years	20 years
50 years	10 years	15 years

PNB home loan eligibility based on income

• Net Income: Your net monthly income (take home salary after all deductions like PF, ESI, gratuity) determines your home loan servicing capacity. It determines how much home loan EMI you are capable of paying after meeting living expenses based on your standard of living. For instance, if your net monthly income is Rs 70,000 and the value of house you are buying is Rs. 50 lakh, then at 8.35% interest rate offered by PNB, the maximum loan amount that you will be eligible for (assuming you have no other EMI’s to pay) would be as follows:

Age	Net Monthly Income (Rs.)
	50,000	75,000	100,000
25 years	4,285,856	6,428,784	8,571,712
30 years	4,285,856	6,428,784	8,571,712
35 years	4,087,310	6,130,965	8,174,621
40 years	3,786,321	5,679,482	7,572,642
45 years	3,330,031	4,995,047	6,660,063
50 years	2,638,311	3,957,466	5,276,621

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

• Nature of Employment: PNB 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. PNB requires minimum income history and job stability of more than 2 years for salaried individuals and of 5 years for self employed individuals.

Home loan eligibility PNB based on value of property

• Value of property: PNB will 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 lakh	90%
Between 30 lakh and 75 lakh	80%
Above 75 lakh	75%

• Co-applicant: Adding a co-applicant increases your eligibility for home loan as it increases your repayment capacity. The co-borrower you add should have good income, low obligation and clean CIBIL record.
• Property documents: Your property’s legal documents should be satisfactory and be cleared by the bank’s legal team.

PNB housing loan eligibility based on CIBIL score

• CIBIL Score: Your credit behaviour and track record from your past lenders and credit card providers gets captured in your CIBIL score. Banks consider this 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. When checking eligibility for home loan, PNB will look at the complete CIBIL report, which also includes all past running loans and your payment track record on loans and credit cards. Higher credit score increases your chances that your loan application from PNB will get approved. However, low CIBIL score will decrease your eligibility to get home loan. PNB requires a minimum credit score of 650 to be eligible for a home loan.

There are few factors which affect your credit score -

• Late payments – If you have delayed in payments on your existing or past loans, it negatively affects your CIBIL score and reduces your chances of getting a loan from PNB
• High number of unsecured loans – Always keep a balance between secured and unsecured loans. More number of unsecured loans can adversely affect your credit score.
• Usage of credit limit – Credit card bills and use of credit limit shows your credit behaviour. Frequent withdrawals up to the credit card limit reflects a potential financial stress, indiscipline on your part and may adversely impact your credit score.
• Multiple loan applications – If you apply for loan in multiple banks at one time, it can affect your score negatively and reduce your CIBIL score. In case of application rejection from PNB, improve your credit worthiness to get a good score.

PNB house loan eligibility based on FOIR

FOIR (Fixed Obligation to Income Ratio) is an important parameter that PNB uses to determine your PNB home loan eligibility. PNB takes all your fixed obligations (like rent or current EMIs) into account while estimating your eligibility. Minimum FOIR required to be eligible for home loan from PNB is 0.65. Calculate your eligibility with PNB home loan calculator and apply for eligible loan amount hassle free.