The minimum salary requirement varies by lender and location. Generally, most banks require a minimum annual income of ₹3-6 lakhs for salaried individuals. The exact amount depends on the loan amount, city of residence, and other factors.

Key factors that affect home loan eligibility include your income, age, credit score, employment stability, existing obligations, property value, and loan-to-value ratio. Lenders assess these factors to determine your repayment capacity.

Yes, most banks allow prepayment of home loans, though some may charge a prepayment penalty, especially on fixed-rate loans. It’s always advisable to check the prepayment terms with your lender before making extra payments.

The maximum home loan tenure typically ranges from 20 to 30 years, depending on the lender’s policies and the borrower’s age at the time of loan application. Most banks offer loans up to the age of 70-75 years.

Fixed interest rates remain constant throughout the loan tenure, providing certainty in EMI amounts. Floating rates fluctuate with market conditions, which means your EMI may change over time. Floating rates are generally lower than fixed rates but carry the risk of potential increases.