Illustration For If a person is 30 years old and has a gross monthly salary of Rs. 30,000, he can avail a loan of Rs. lakh at an interest rate of for a tenure of 30 years provided he has no other existing financial obligations such as a personal loan or car loan ;· In the case of Pushpam, the maximum Home Loan amount he can get is up to Rs. 24 lakhs for a tenure of 30 years which is the maximum tenure offered by banks. The EMI for this amount would be between Rs. 13,000 and Rs. 15,000 per month at an interest rate of between and Pushpam will have to arrange the down payment of Rs. 8 are eligible for a home loan of approximately Rs. 36 Lakh, if your in-hand salary is Rs. 60,000. Now, a lender will not consider allowances like medical and leave travel when assessing your income. These allowances are provided for the respective expenses; hence, financial institutions exclude ;· How Much Home Loan can I get approved for? The amount of home loan you can get approved for is 60 times your monthly in-hand salary. Government banks calculate the net pay differently than private sector banks in principal outstanding on all existing loans and the Loan Against Property being availed should not cumulatively exceed 60% of the Market Value of the mortgaged property as assessed by Much Home Loan Can I Get - Salary India? - IndiaHow Much Home Loan Will I Get? - BankBazaarHow Much Personal Loan Can I Get On My Salary? - Fullerton IndiaHow Much Home Loan Can I Get - Salary India? - IndiaAs a rule of thumb, salaried individuals are eligible to get home loans approximately up to 60 times their net monthly income. So, if your net monthly salary is ₹40,000, you can get a home loan up to approximately ₹24 lakh. Likewise, if you earn ₹35,000 per month, you can get approximately up …

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