Here’s What You Need to Do to Apply for a Home Loan in Jaipur

The very mention of Jaipur, the capital city of the desert state of Rajasthan can flood your senses with palaces and natives in colourful clothes. Despite being an arid region, Jaipur boasts of an economy heavily powered by tourism. Tourists from across the world definitely have Rajasthan on their itinerary. Tap this potential and convert the same into a revenue earning potential by letting out your home.

Yes, buy a home with a Home Loan in Jaipur and you can use the rental income to take care of your EMI payments. The best part is that you don’t have to visit a bank branch in Jaipur to avail a Home Loan. You can apply online for Home Loan in Jaipur and upload all the documents required for Home Loan in Jaipur. This gives you a lot of freedom and flexibility when it comes to buying a home here.

Home Loan Eligibility

Before you get into the process of applying for a Home Loan, you have to calculate what your loan eligibility is. The loan eligibility criteria laid down by banks depends on the place where you intend to buy a home, income, age, credit history and the quantum if you have any current EMIs you’re servicing.

As a matter of practice, banks offer Home Loans at 60 times your monthly salary. If you earn more, you get a higher eligibility and thus a home as per your choice. The minimum salary required for Home Loan in Jaipur online Home Loan application form should be such that you can make the EMI repayments.

Let’s understand how these factors affect your Home Loan eligibility.

Monthly Income

Banks ask for income documents so they can estimate your repayment capacity. Also since the Home Loan eligibility has a multiplier factor on the income, the higher your income, the higher will be your eligibility. If your income is not high enough to qualify, you can consider adding a co-applicant, like your spouse. Using their support, your combined incomes will help increase your loan eligibility.

Credit Score

For availing any type of loan, your credit score will be looked into, make sure that you don’t have any defects in your record. A good credit score not only improves your eligibility for a Home Loan but also puts you at an advantage where you can bargain for a lower interest rate.


Loan eligibility is directly dependent on your age. When you apply for a Home Loan early, like you’re about 26 years, your eligibility will be more, since there’s a high potential to earn more in future as well as a longer time to service the loan. On the other hand, if you apply for a loan a few years prior to retirement, banks are wary of your repayment capacity in the absence of a steady source of income. That can lower your eligibility.

Documents Required for Home Loan in Jaipur

Once your loan eligibility has been determined, you can apply for a Home Loan along with the required documentation.

These include Salary slips, bank statements of the last 6 months, age proof, address proof and details of the property.

After the verification of the documents, the banks approve your loan upto 80% of the property value. The tenure of the loan, interest rate, EMI, prepayment charges and other fees and charges are mentioned in the loan document. After disbursal, you can go ahead and book your home.


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