Loan Eligibility Formula:
From: | To: |
The Axis Bank Home Loan Eligibility Calculator helps you determine how much you can borrow based on your income, credit score, and repayment capacity. Axis Bank requires a minimum credit score of 700 and the EMI should not exceed 60% of your monthly income.
The calculator uses the present value of annuity formula:
Where:
Explanation: The formula calculates the maximum loan amount you can get based on what you can afford to pay monthly, the interest rate, and loan term.
Details: Knowing your eligibility helps in financial planning, property selection, and improves your chances of loan approval. Axis Bank considers credit score, income stability, and existing obligations.
Tips: Enter your realistic monthly payment capability, current interest rates, desired loan term, actual monthly income, and credit score. All values must be positive numbers.
Q1: What is the minimum credit score for Axis Bank home loans?
A: Axis Bank typically requires a minimum credit score of 700 for home loan approval.
Q2: What EMI to income ratio does Axis Bank accept?
A: Generally, your EMI should not exceed 60% of your monthly income.
Q3: What documents are needed for Axis Bank home loan?
A: Typically requires income proof, identity proof, address proof, property documents, and bank statements.
Q4: Does Axis Bank offer pre-approved home loans?
A: Yes, pre-approved offers are available for existing customers with good banking relationships.
Q5: How can I improve my eligibility?
A: Increase your income, improve credit score, reduce existing debts, or opt for longer tenure.