The Equitas home loan eligibility depends on several aspects, including credit score, employment type, and income. It also differs for salaried and self-employed individuals in India. The eligibility criteria are to accommodate a wide range of applicants and ensure more people can access housing finance.
Age: Applicants must be between 18 and 60 years old.
Employment Type: Both salaried and self-employed individuals are eligible.
Loan Amount: Loans up to Rs300 lakhs are available.
Loan-to-Value (LTV) Ratio:
Up to 90% for properties valued up to Rs30 lakhs.
Up to 80% for properties valued between Rs30 lakhs and Rs75 lakhs.
A higher credit score improves eligibility and may lead to better interest rates. Higher existing debts can reduce loan eligibility. Contributing a larger down payment can increase loan approval chances. I hope you found this helpful.
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Hello there. I applied for a home loan at Equitas Bank a couple of months ago. Before applying, I wanted to look at the Equitas Bank home loan eligibility to ensure that I was eligible for a loan from the bank. On their website, they have simply mentioned that the eligibility criteria is that the applicant must be a salaried or a self-employed person. However, there is more to it in terms of the loan eligibility. Let me share those with you below.
What is the Equitas Home Loan Eligibility?
Here is the eligibility criteria for a home loan as asked in general by financial institutions:
Age: Most financial institutions require a minimum age of 18 to 21 to be eligible to take a loan. There is also an upper limit for the age, which refers to the applicable age at the time of loan maturity.
CIBIL score: You must have a healthy credit score, preferably 700 to 750. Some banks also offer loans on a credit score of 650, but it all depends on your application and the individual bank.
Minimum Salary: Banks require you to have a minimum monthly salary, which is different from one institution to another. So, check with Equitas for the same. The same goes for the business income.
Employment Status: You must either be self-employed or a salaried employee.
This is all from my side. I recommend you contact Equitas Bank and ask for comprehensive eligibility criteria. I hope this helps.
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What is Equitas Bank Home Loan Eligibility?
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2024-10-01T10:16:08+00:00 2024-10-01T10:16:09+00:00Comment
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