Piramal Housing Finance Home Loan Eligibility Calculator

The Piramal Housing Finance Home Loan Eligibility Calculator helps you check the home loan amounts you’re eligible for. It increases your loan eligibility and makes you a more confident borrower.

Piramal Finance offers home loans for residential, construction, renovation and refinance purposes. Hesitation and uncertainties are common while applying for a home loan. Am I eligible or not? Do I satisfy the criteria or not? Clarify all your doubts using the Piramal Housing Finance home loan eligibility calculator. Stay tuned as we discuss the simple ways to use this free digital calculator.  

Salient Features of Piramal Housing Finance Home Loan Eligibility Calculator

The calculator is specifically designed to help customers apply for the right loan amounts. Take a look at the key features of this calculator below:

• Simple Interface: The calculator’s user interface is extremely simple and user friendly. A pleasing colour scheme and minimalist design make it easy to use for customers.
• Instant Estimates: As soon as a user enters the required values, the calculator produces the loan estimates. There is no delay in the calculator’s computations. 
• Additional Details: The calculator also lets you check the interest rate and time periods for which the eligible home loan amount may be available to you. 
• Increased Eligibility: By gaining the right estimates, a borrower can apply for loan amounts that align with their income. This increases the chances of loan approval. 
• Freedom to Explore: Loan applicants can keep tweaking the input values until they arrive at the desired results. This allows them to have a clearer understanding of the loan tenures and interest rates suitable for them.

How to use the Piramal Housing Finance Home Loan Eligibility Calculator? 

The Piramal Housing Finance Home Loan Eligibility Calculator is available free of cost on Urban Money’s website.

• Visit www.urbanmoney.com.
• Select ‘Home Loan’ from the ‘Loans’ menu.
• Select ‘Piramal Housing Finance’ from the list of Banks and NBFCs.
• The website will then direct you to the ‘Piramal Housing Finance Home Loan’ page.

• Fill in the required fields and accept the T&Cs.
• Click on ‘Check Eligibility’.
• Complete the OTP verification and get instant estimates.

Interested applicants can click on ‘Apply Now’ to proceed with the loan application. Otherwise, one can click on ‘View All Offers’ to take a look at loan offers from other lenders.

Eligibility Criteria of Piramal Housing Finance Home Loan

Piramal Housing Finance’s home loan eligibility criteria are listed below:

• Eligible candidates: Salaried/ Self-Employed individuals.
• Minimum Age: 21 years for salaried/ 23 years for self-employed applicants.
• Maximum Age: 62 years for salaried/ 70 years for self-employed applicants.
• CIBIL Score: 750 or above.
• Citizenship: Indian

Factors affecting Piramal Housing Finance Home Loan Eligibility

The Piramal Housing Finance Home Loan Eligibility Calculator offers only quantitative estimates. Here is a list of the factors influencing these estimates.

• Age: The lender determines the loan tenure on the basis of an applicant’s age. Candidates up to 40 years of age are offered home loans for up to 30 years. The loan tenure keeps diminishing after that.
  
• Monthly Income: The lender aims to establish an applicant’s repayment potential through this criterion. Applicants fulfilling the specified levels of minimum income are more likely to get their loan applications approved. 
  
• Co-application: Housing loans from Piramal Housing Finance mandate co-applications from a parent, spouse, sibling or any other first-blood relative.
  
• Additional Incomes and Existing Debts: Additional incomes can increase an applicant’s loan eligibility. While existing debts can make the lender more sceptical.
  
• Property Status: Piramal Housing Finance only offers a home loan after due verification of the concerned property. The property-related documents are scrutinised by experts.
  
• Credit Score: Credit scores reflect an applicant’s ability to manage their debts. Borrowers with high credit ratings stand higher chances of approvals and vice versa.
  
• Citizenship/Residential Status: Piramal Housing Finance extends home loans to Indian citizens only.

Ways to Improve Your Piramal Housing Finance Home Loan Eligibility

The home loan eligibility calculator of Piramal Housing Finance offers estimates considering one’s present financial standing. You can follow these simple steps to easily gain higher loan amounts.

• Maintain a high credit score by making timely payments, using a good credit mix and ensuring appropriate credit utilisation.
• Apply for loan amounts that lie within your repayment capacity.
• Maintain a low debt-to-income ratio by paying off existing debts or increasing your monthly income.
• Submit joint applications with highly rated co-applicants to increase your chances of approval. 
• Make sure that all the documents are updated at the time of applying for the loan.

Understanding the Impact of Credit Score on Piramal Housing Finance Home Loan Eligibility

Credit scores reflect a candidate’s credit-worthiness. For the lender, it highlights an applicant’s repayment potential and helps minimise risks. For the applicant, it helps establish credibility and increase their home loan eligibility. The better the credit score, the better will be the loan offer.

Loan terms like interest rates, loan tenures and LTV ratios are strongly influenced by the applicant’s credit ratings. Lenders also extend special offers to positively rated borrowers.