How to qualify for a PNB home loan in India? The 6 best 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 your annual accounts.

Before applying for a PNB real estate loanit is a good idea to check your eligibility for the home loan and have a clear idea of ​​your eligibility.

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

6 Top Tips to Increase Your Eligibility for Home Loan in India

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

  • Have a strong credit history

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

To qualify for your home loan, you must maintain a credit score above 750 and offer low interest rates with any lender. You must ensure that you have fully repaid your existing loans and renewed your CIBIL credit score.

  • Open an account with your preferred lender

After researching the various lenders and finalizing the one that offers you the most, it is recommended that you open an account with that specific lender.

You will have ample time to establish a relationship with the lender, thereby ensuring better eligibility for a home purchase loan.

  • Choose a Joint Home Loan for Greater Eligibility

Low income is one of the leading causes of home loan denial based on eligibility.

If you opt for a joint home loan, there is a better chance of qualifying for approval than an individual applicant. You may 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 the combined application 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.

If you don’t qualify for a home loan, you can use other sources of income, such as a bonus from your employer, rental income, FD interest, or self-employment income.

These sources of income will help you strengthen home loan preferences for your home purchase. You must disclose all correct information regarding your application.

  • Select a longer mortgage repayment term

Eligibility criteria for a home loan are determined by your ability to repay the monthly loan amount, known as the monthly payment (EMI). If you have a long loan, you pay less monthly payments.

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 house.

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

  • Repay all other outstanding debts

All pre-existing loans harm the home loan eligibility criteria and can have a significant impact on 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 EMI’s expense, and the additional loan penalty may delay or not pay the installment by a month. In such a case, the lender can refuse the loan.

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


You must maintain your financial situation stable when apply for a home loan. Home loan eligibility criteria can vary, and as your income increases each year, the possibility of increasing the amount of EMI each year also increases. Limiting the costs a little is necessary and repaying the mortgage in a shorter time.