HSBC Home Loan Eligibility Calculator

HSBC offers home loans to eligible customers at affordable interest rates starting at 8.75% p.a., with a repayment period of up to 25 years. However, you will get a loan only if the bank deems you eligible.

Here’s how to check your HSBC home loan eligibility.

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HSBC Home Loan Eligibility Checklist

Criteria	Details
Age	21 years – 65 years
Employment Type	Salaried, Self-Employed (Professionals and Non-Professionals)
Income	Salaried: Rs. 5,00,000 p.a. Self Employed: Rs. 7,50,000 p.a.
Nationality	Residents of India and NRIs

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Factors Affecting HSBC Home Loan Eligibility

Several factors affect your eligibility for a HSBC housing loan, including:

Factor	Impact on Eligibility
Age of the applicant	Younger applicants get longer repayment tenures
Financial position	Strong financials improve eligibility
Repayment record	Also good repayment history boosts eligibility
Credit score	Higher scores increase chances of approval
Existing liabilities	Higher liabilities reduce eligibility
Applicant’s profile	Stable profiles are favored
Property specifications	Newer, well-located properties have better eligibility
Loan guarantor status	Being a guarantor to another loan can affect eligibility

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Eligibility Based on Age

The eligibility for a home loan is often determined by the applicant’s age, which directly impacts the maximum loan tenure.

Younger applicants can enjoy longer repayment periods, while older applicants may have shorter tenures based on their age. Here’s a breakdown:

Applicant Age	Maximum Eligible Tenure
23 – 45 years	30 years
46 years	29 years
47  years	28 years
48  years	27 years
49 years	26 years
50 years	25 years
51 years	24 years
52 years	23 years
53 years	22 years
54 years	21 years

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Eligibility Based on Property Value

The value of your property also influences your loan eligibility. Here’s how:

Property Value	LTV Ratio
Up to Rs.30 lakh	90.00% of the property cost
From Rs.30 lakh to Rs.75 lakh	80.00% of the property cost
Above Rs.75 lakh	80.00% of the property cost

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Eligibility Based on Credit Score

Your credit score is a crucial factor in determining your eligibility.

Rating	Credit Score
Good	750 and above
Average	600 – 750
Poor	Below 600

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Eligibility for Women

HSBC is dedicated to empowering women on their path to homeownership by offering equal eligibility criteria for all applicants. In addition, women benefit from a special advantage:

• Interest Rate Concession: Women applicants are eligible for a 0.05% interest rate concession on the home loan. This concession not only reduces the overall cost of the loan but also makes monthly EMIs more affordable, easing the financial burden and promoting financial independence among women.

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Tips to Improve HSBC Home Loan Eligibility

1. Maintain a High Credit Score: Ensure timely repayment of existing debts and keep credit utilization low to boost your credit score.
2. Reduce Existing EMIs: Paying off existing loans or reducing their tenure can free up more of your income for the new home loan.
3. Choose a Longer Tenure: While tenure may increase the total interest payable, it can lower your monthly EMIs, enhancing affordability.
4. Opt for a Co-applicant: Including a co-applicant with a stable income can increase your eligibility amount.

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Conclusion

The HSBC Home Loan Eligibility Calculator helps you assess your borrowing capacity instantly, making home loan planning easier and more informed.

For expert assistance, Credit Dharma is here to guide you through every step of the process. Enjoy the convenience of managing your entire home loan journey online, from application to disbursement. Book a FREE call with Credit Dharma for a seamless and hassle-free home loan

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Frequently Asked Questions