How much I can get home loan on my salary?
|Age||Net Monthly Income (Rs.)|
|40 years||44.72 Lakh||67.07 Lakh|
|45 years||42.47 Lakh||63.71 Lakh|
|50 years||39.15 Lakh||58.72 Lakh|
Consequently, how much loan I can get on my salary?
However, most banks and NBFCs limit a personal loan at Rs. 25 lakh to an individual. Lenders evaluate the monthly income of loan applicants and the potential growth in it before approving a loan. In most of the cases, individuals are eligible for a personal loan amount of up to 30 times of their monthly income.
Likewise, how much home loan can I get on 50000 salary? Normally, all banks provide home loans up to 60 times your monthly net income. You have a monthly in-hand (take home) salary as Rs 50,000 and you are looking for a home loan of about Rs 30 lakh.
Subsequently, one may also ask, how much home loan can I get on 40000 salary?
25,000. In case your net monthly income is between Rs. 25,000 – Rs. 40,000, you may be eligible for loan if your fixed obligations (rent, EMI) do not exceed 50% of income.
How much home loan can I get on 20000 salary?
As 20000 Rs as monthly income you can get minimum of 20000 x 60 = 1200000 Rs loan. If you want to increase your loan amount following can be done. Show more income source, like Passive income, Fixed deposit or part time job etc.