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How To Be Eligible for a PNB Home Loan In India? Top 6 Techniques

Before applying for a PNB home loan, it is a good idea to check your home loan eligibility and have a clear idea of your eligibility.

By Agency Desk
Updated on :
How To Be Eligible for a PNB Home Loan In India? Top 6 Techniques

Investing in your dream home and applying for a home loan are important decisions in people’s lives. You need to make several adjustments to your monthly budget and annual accounts.

Before applying for a PNB home loan, it is a good idea to check your home loan eligibility and have a clear idea of your eligibility.

The lender assesses your home loan eligibility criteria and only then goes ahead with the approval, verification, and disbursal process. Certain parameters like interest rate, maximum loan amount, source of income, repayment ability, age, credit score, etc., are based on specific criteria of your eligibility.

6 Best Tips for Increasing Your Home Loan Eligibility in India

By following these six tips below, you can increase your home loan eligibility:

  • Have a Strong Credit Report

When you apply for a home loan, the lender will review your CIBIL score and repayment behavior and flag you as a potential high- or low-risk home loan applicant. The CIBIL score measures your ability to repay a loan within the stipulated time frame.

To qualify for your home loan, you must keep a credit score above 750 and make low-interest rates available from any lender. You must ensure you have fully paid off your existing loans and renewed your CIBIL credit score.

  • Open an Account with Your Favorite Lender

After researching the different lenders and finalizing the one that provides you the maximum, it is recommended that you open an account with that specific lender.

You will find plenty of time to build a relationship with the lender, ensuring better eligibility for a loan to purchase a home.

  • Choose a Joint Home Loan for Greater Eligibility

Low income is one of the main causes of home loan rejection based on eligibility.

If you go for a joint home loan, there is a better chance to qualify for approval than an individual applicant. You can consider a co-applicant who belongs to your immediate family. It is even better if the co-applicant is a woman, as the percentage of combined demand from women is low.

The lender also considers your co-applicants source of income when evaluating your eligibility criteria and other incentives such as tax incentives and loan repayments.

  • Add Sources of Income

If you don’t meet the conditions to qualify for a home loan, you can use other sources of income, such as a bonus from your employer, rental income, FD interest, or freelancing income.

These sources of income will support you in strengthening the home loan preferences for buying your home. You must disclose all the correct information about your application.

  • Select a Longer Home Loan Repayment Tenure

The eligibility criteria for a home loan are determined by your ability to repay the monthly loan amount, known as the monthly installments (EMI). If you have a long loan, you pay fewer monthly installments.

This is suitable for all middle and lower-class applicants to repay the loan amount and is eligible to increase the mortgage amount to buy the dream home.

This will lower your EMI to ensure you have a better chance of paying your home loan EMIs on time. It enhances your eligibility to apply for a home loan. To the lender, it will appear to you as a low-risk loan, and, in the process, your home loan will become more suitable.

  • Pay Off All Other Outstanding Debts

All pre-existing loans hurt the home loan eligibility criteria and can have a significant impact on the eligibility for a mortgage. Existing loans are not prepaid, so the lender can either reduce the loan amount or offer the loan at a higher interest rate.

The lender may feel that the borrower is already at the expense of EMI, and the additional loan penalty may delay or fail to pay the installment by one month. In such a case, the lender can refuse the loan.

Paying off your debt faithfully will give you a good credit score, qualifying for your home loan.


You must keep your financial situation stable when applying for a home loan. The home loan eligibility criteria can vary, and as your income increases each year, the option to increase the amount of EMI each year also increases. Limiting the costs a little is necessary and paying off the home loan in a shorter time.


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