Loan eligibility
How much a bank may really give you, and three ways to get more.
About you
How you earn
₹
₹90,000
₹
₹0
₹
₹8,000
Good. Normal terms
The loan you would take
Lenders stop the loan at 60
%
Around 8.5% today
Your income breakdown
Monthly take-home (with co-applicant)₹90,000
Summary
- Monthly take-home (with co-applicant)
- ₹90,000
- Share of income banks allow for EMIs
- 52%
- Existing EMIs
- ₹8,000
- New home loan EMI
- ₹38,800
- Loan a bank may sanction
- ₹44,38,533
- Homes you could buy, up to
- ₹55,48,166
- Down payment you would need
- ₹11,09,633
- Tenure
- 20 years (240 months)
Good to know
How banks decide the loan
Banks let about 52% of your take-home pay go to all EMIs together. Existing EMIs reduce your new loan.
Your credit score helps you
A score of 750 or more gets the best rates and the fastest approval.
You still need a down payment
Banks lend 75% to 90% of the price. With this loan you could buy a home up to ₹55,48,166, paying about ₹11,09,633 yourself.
Salaried? Keep these ready
Your last 3 salary slips, 6 months of bank statements and Form 16. Public sector banks usually give the lowest rates.