• ₹5,000
  • ₹1 Cr
  • ₹0
  • ₹1 Cr
Years
  • 3 Years
  • 30 Years
%
  • 7%
  • 18%
  • ₹5,000
  • ₹1 Cr

Your Home loan eligibility can increase upto ₹ 73 Cr on the basis of your income.
Please get in touch with the nearest branch or call us for more details

You are eligible for a
total amount of

Your EMI
will be

Property cost
you can afford

₹1,100,000

Remaining
balance salary

₹ 6,946,954

Use ICICI Bank Home Loan Affordability Calculator to

Precision in Planning
Precision in
Planning
Get realistic borrowing limits
Get realistic
borrowing limits
Customised Financial Insights
Customised
Financial Insights
Time and Cost Efficiency
Time and
Cost Efficiency

Affordable Home Loan Eligibility Criteria

Eligibility Criteria Requirement
Age 20 to 65 years for salaried individuals and 21 to 70 years for self-employed individuals
Income Minimum salary of Rs. 25,000
Employment Stability Self-employed: Stable business track record
Credit Score A good credit score of 700 and above
Nationality  Indian 

At the heart of the Home Loan Affordability Calculator lies a sophisticated algorithm that harmonises various financial elements to provide a nuanced and realistic picture of your borrowing potential.

The calculator meticulously considers Down Payment, Gross Monthly Income, Existing EMIs, Illustrative Interest Rate, and Tenure. By weighing these factors against each other, the calculator determines the Total Property Cost you can afford, your Home Loan Eligibility with ICICI Bank, the anticipated Home Loan EMI, and the Remaining Balance required to seal the deal on your property purchase.

Factors Affect Your Home Loan Affordability

Down Payment

Down Payment

A higher down payment often translates to a more favourable loan amount and improved affordability.

240
Gross Monthly Income

Gross Monthly Income

The calculator assesses your monthly earnings, ensuring that the proposed loan amount aligns with your financial capacity.

240
Existing EMIs

Existing EMIs

The calculator considers your ongoing EMIs, balancing them with the prospective home loan to ascertain a manageable repayment structure.

240
Illustrative Interest Rate

Illustrative Interest Rate

It influences your Home Loan EMI and, consequently, the overall affordability of the loan.

240
Tenure

Tenure

While a longer tenure might lower your monthly EMI, it could impact the total interest paid.

240

FAQs on Home loan Affordability

What is the Rule for Home Loan Affordability?

The rule for home loan affordability revolves around ensuring that monthly repayments fit comfortably within your budget. The Home Loan Affordability Calculator adheres to this principle, providing a structured approach to balancing your aspirations with financial well-being.

How Do You Calculate Home Loan Affordability?

Home loan affordability is calculated by considering key factors such as Down Payment, Gross Monthly Income, Existing EMIs, Illustrative Interest Rate, and Tenure. This comprehensive analysis results in personalised insights into the loan amount you can afford.

How to Improve Home Loan Affordability?

Improving home loan affordability involves strategic steps such as enhancing your credit score, reducing existing debts, and increasing your income. The calculator reflects these improvements, potentially qualifying you for a higher loan amount.

What are the Parameters for Home Loan Affordability?

The parameters encompass Down Payment, Gross Monthly Income, Existing EMIs, Illustrative Interest Rate, and Tenure. These factors collaborate to shape a personalized and prudent borrowing limit, ensuring your journey towards homeownership is both informed and financially sound.

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