Here are the main eligibility criteria most banks and lenders consider for approving a home loan in India:

Age:

Applicants must typically be above 21 years of age. For salaried borrowers, some lenders have an upper age limit of 60 or 65 years.

Employment:

Salaried applicants must have a minimum 2 to 3 years of stable employment with their current employer. Self-employed applicants usually need 2 to 5 years in business.

Income:

Banks usually require a minimum annual income ranging from INR 3 lakh to 5 lakh. There are ratios between loan amount, income and EMI that banks consider.

Credit score:

Most lenders check the applicant's credit score with credit bureaus. A score of 750 and above is generally considered good. Low scores can impact loan eligibility.

Down payment:

Banks typically require a down payment of 20% of the property cost though some lenders offer loans with 10% or 15% down payment.

Repayment capacity:

Banks evaluate an applicant's ability to comfortably repay the loan by considering income, existing obligations and other expenses.

Collateral:

The property being financed itself acts as the primary collateral for the home loan. Banks take a charge against the property to secure the loan amount.

Other factors like monthly cash flow, debt to income ratio, existing loans and assets may also be considered by some lenders. But the criteria I've mentioned - age, employment, income, credit score, down payment and repayment capacity - are the major factors that determine eligibility for most home loans in India.