How much salary is required for 1cr home loan?

Net Monthly Income : Your net monthly income should be more than ₹ 25,000. If your net monthly income is between ₹ 25,000 – ₹ 40,000, you may be eligible for a loan if your fixed obligations (rent, EMI) do not exceed 50\% of income.

Can we get 1 crore home loan?

Bajaj Finserv offers high-value Home Loans up to Rs. 3.5 crore, using which you can become a homeowner without compromise or delay. Further, you benefit from a flexible tenor spanning up to 240 months and to manage your EMIs with ease.

How much salary is required for home loan in India?

You 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 them.

How much home loan can I get for 50 lakhs property?

Therefore, if you want a home loan for buying a property of Rs. 50 lakhs, the maximum amount you can get is 85\% of that ie 42.50 lakhs. Banks also consider other specific criteria before accepting the property for granting a loan.

What is the current loan rate of a bank in India?

Banks usually stick to 35\% of the disposable income but can go as high as 50\%. (In exceptional cases, the bank may allow a higher \% limit on EMI deduction.) Now we come to the loan rate. The current loan rate is (from what I read) is as low as 6.65\%. But that is for the ordinary mortals like us. You are requesting a huge ₹2.5 Cr (₹25,000,000).

How much home loan can I get based on my salary?

The loan amount you can avail depends on criteria like your credit score, salary, age, location, current obligations, etc. Lenders usually offer a home loan that is 60 times your salary. However, lenders do not generally consider your in-hand salary when determining the loan amount.