How much home loan can I get on my salary?
|Net Monthly income||Home Loan Amount|
Regarding this, how much home loan can I get on 25000 salary?
The take-home salary will determine the EMI amount you can afford and thus the total loan amount you can borrow. For instance, if your take-home salary is Rs. 25,000, you can avail as much as Rs. 18.64 lakh as a loan to purchase a home worth Rs.
Secondly, how much home loan can I get if my salary is 15000?
1,80,000 per annum or Rs. 15,000 per month. While the exact loan amount that you can borrow will vary based on your income and repayment capacity, you will need to borrow at least Rs. 50,000 from IDBI Bank when taking a personal loan from them.
What is the EMI for 20 lakhs home loan?
EMIs on a 20 lakh home loan for 30 years
|Loan Amount||Interest rate||EMI|
EMI on a 25 lakh home loan for 20 years, 15 years and 10 years
|Loan Amount||EMI when Tenor is 10 Years||EMI when Tenor is 20 Years|
Lending institutions provide Loan Against Property approval for a specific percentage of the mortgaged property’s value. For certain security purposes, lenders do not sanction a Mortgage Loan with LTV of 100%. You can avail a maximum of 90% of the property’s present market value from any lender.
EMI Calculations for a Home Loan of Rs. 40 Lakh with varying Tenors
|Loan Details||Monthly Instalment|
|40 lakh home loan EMI for 30 years||Rs. 35,103|
|40 lakh home loan EMI for 20 years||Rs. 38,601|
|40 lakh home loan EMI for 15 years||Rs. 42,984|
|40 lakh home loan EMI for 10 years||Rs. 52,860|
For instance, if your salary is ? 25,000 then at interest rate of 6.70% offered by SBI, the loan amount that you will be eligible for (assuming you have no other EMI’s to pay) would be ? 42,91,028 to ? 50,36,589 depending on your age.
Banks provide loans to individuals who are either salaried or self-employed professionals. Getting a loan without employment is also possible when you have a good credit history, or you are able to on-board a guarantor or co-applicant with a good credit score.
5,40,000. On the other hand,
|Salary||Expected Personal Loan Amount|
|Rs. 20,000||Rs. 5.40 lakhs|
|Rs. 30,000||Rs. 8.10 lakhs|
|Rs. 40,000||Rs. 10.80 lakhs|
|Rs. 50,000||Rs. 13.50 lakhs|
Best Banks Which Offers Home Loans in India
|S.No||Bank Name||Market Percentage|
|1||SBI Home Loan||34.00%|
Banks which are offering
|Monthly Payment (EMI)||Total Interest Payable in 20 years||Total Payment (Principal + Interest) after 20 years for 10 Lakh of loan amount|
SBI Smart Home Top Up Loan Eligibility
- Resident Type: Resident Indian & NRI.
- Minimum Age: 18 years.
- Maximum Age: 70 years.
- CIBIL Score: 550 or above.
- Satisfactory repayment track record of 1 year or more, after completion of moratorium.
- No other Home Top-up or Insta Home Top-up loans should be active.
Some of the best lenders to consider for a $15,000 loan with fair credit include LightStream, American Express, SoFi and Wells Fargo. Just about any lender that caters to people with fair credit scores (640 to 699) will offer loans of $15,000 or more, at least to some applicants.