BAJAJ FINSERV DIRECT LIMITED

Home Loan on ₹30,000 Monthly Salary

Discover how much home loan you can get on a ₹30,000 monthly salary and the factors that influence your eligibility.

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Max. Tenure 30 Years
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Lending Partners 10+
Max. Amount ₹15 Crores

Depending on an interest rate of 7.35% p.a. and a 30-year tenure, lenders may offer a home loan ranging between ₹20 Lakhs and ₹27 Lakhs for a ₹30,000 salary. To find a plan that best suits your repayment capacity and long-term financial goals, reviewing offers from various lenders on Bajaj Markets is recommended. 

Go through the table below to understand the estimated home loan amounts that you could obtain on a salary of ₹30,000 or less. The amounts are calculated considering an interest rate of 7.35% and a tenure of 30 years.

Net Monthly Income

Approx. Home Loan Amount

₹30,000

₹20.49 Lakhs

₹29,000

₹19.95 Lakhs

₹28,000

₹19.41 Lakhs

₹27,000

₹18.87 Lakhs

₹26,000

₹18.33 Lakhs

Disclaimer: You can use the eligibility calculator to check home loan amounts for different terms and salaries.

To apply for a home loan online, you must fulfil the required eligibility criteria as set by your lender. Additionally, submit essential documents like ID proof, address proof, income proof, etc. with your home loan application for fast processing.

How Much Home Loan Can I Get If I Earn ₹30,000 per Month

If you earn ₹30,000 per month, the amount of home loan you can get largely depends on factors such as your age, credit score, existing financial obligations, and the policies of the lender. Typically, lenders offer loans up to 60 times your net monthly income. Therefore, with a ₹30,000 salary, you could qualify for a home loan of approximately ₹18 Lakhs, assuming you have no other ongoing EMIs and maintain a favorable credit profile.

Several factors influence your eligibility for a home loan. These include:

  • Age plays a key role, as younger borrowers may be eligible for longer loan tenures, reducing monthly EMIs.

  • A higher credit score, generally 750 or above, can also improve loan terms and interest rates.

  • Existing obligations, such as other loan repayments, impact your debt-to-income ratio, with lenders preferring a lower ratio.

  • Stable employment with reputed organisations enhances your eligibility.

To improve your chances of securing a larger loan, you can increase your income by adding a co-applicant or securing additional sources of revenue. Clearing outstanding debts also helps lower your debt-to-income ratio, making you a more attractive borrower. Opting for a longer loan tenure can also reduce your monthly EMIs, making repayment more manageable.

Loan Amount You Can Get for Different Repayment Tenures

The loan amount you can secure depends on the repayment tenure and the interest rate applied. Assuming an annual interest rate of 7.35%, let's calculate the eligible loan amount for various tenures. The table below outlines the eligible loan amounts, monthly EMIs, and total repayments for different loan tenures:

Tenure

Approx. Loan Amount

Approx. EMI

15 years

₹20.49 Lakhs

₹18,350

20 years

₹25.00 Lakhs

₹22,950

30 years

₹30.00 Lakhs

₹27,540

Note: These figures are indicative and may vary based on lender policies, credit profile, and other factors. It's advisable to use the lender’s eligibility calculator for more accurate assessments.

Estimated Loan Eligibility from Different Lenders

For a ₹30,000 monthly salary, lenders typically assess eligibility based on your ability to pay EMIs that don’t exceed 40–50% of your income and factoring in prevailing interest rates and repayment tenure. Bajaj Markets’ partner lenders may thus offer different combinations of interest rates, loan tenures, and maximum loan amounts tailored to this income bracket.

Below is an indicative comparison of lender-wise eligibility estimates for borrowers earning ₹30,000 per month:

Lender

Starting Interest Rate

Maximum Tenure

Approximate Loan Amount

Bajaj Housing Finance

7.45% p.a.

32 years

₹21.92 Lakhs

Home First Finance Company

9.00% p.a.

20 years

₹16 Lakhs

ICICI Bank

9.00% p.a.

30 years

₹18 Lakhs

India Shelter

13.00% p.a.

20 years

₹12 Lakhs

L&T Finance

8.60% p.a.

25 years

₹17 Lakhs

LIC Housing Finance

8.65% p.a.

30 years

₹18 Lakhs

PNB Housing Finance

8.50% p.a.

30 years

₹18 Lakhs

Sammaan Capital

8.75% p.a.

30 years

₹17 Lakhs

Shriram Housing Finance

11.50% p.a.

25 years

₹14 Lakhs

Shubham Housing Finance

10.90% p.a.

25 years

₹15 Lakhs

Vridhi Home Finance

12.00% p.a.

12 years

₹10 Lakhs

South Indian Bank

9.50% p.a.

30 years

₹17 Lakhs

Easy Home Finance

10.50% p.a.

20 years

₹15 Lakhs

Note: These figures are indicative and can vary based on individual financial profiles and lender policies. It's advisable to use the respective lender's home loan eligibility calculator for precise estimates.

Steps to Apply for a Home Loan on Bajaj Markets

Follow the steps given below to easily apply for a home loan online on Bajaj Markets: 

  • Click on the ‘Check Offer’ tab on this page 

  • Provide your basic personal details as asked on the online application form 

  • Choose your preferred lender from the eligible options available 

  • Enter your required loan amount and repayment tenure 

  • Submit the form for verification 

Post verification, a representative will reach out to you and guide you about the further proceedings.

Frequently Asked Questions

What loan amount can I expect on a ₹30,000 salary?

With a monthly salary of ₹30,000, you can get a home loan between ₹16 Lakhs and ₹22 Lakhs approximately. This has been calculated on a tenure ranging between 15 and 30 years and an interest rate of 8.50% p.a.

To ensure that your home loan EMIs do not strain your income, it should not be more than 40% of your net salary.

The ideal tenure balances affordable EMIs and interest costs. Most lenders on Bajaj Markets offer tenures ranging up to 30 years. A longer tenure reduces monthly payments, while a shorter one increases EMI but lowers total interest. Choose based on your income stability and long-term financial plan.

A co‑applicant isn’t mandatory, but including one can increase your eligible loan amount and improve approval chances. Especially if credit score or repayment capacity needs a boost. Bajaj Markets lets you compare solo and joint application options for maximum benefit.

Eligibility hinges on factors such as age, employment history, credit score, and EMI-to-income ratio (typically 40–50%). With ₹30,000 salary, EMI capacity ranges from ₹12,000 to ₹15,000 monthly, determining your loan eligibility.

For salaried applicants, you generally need valid ID (PAN, Aadhaar, Passport), address proof, 3–6 months of salary slips, 2 years of ITR or Form 16, and bank statements. Specific lender requirements may vary.

PMAY eligibility depends on annual income categories, namely ₹30,000/month amounts to ₹3.6 lakhs/year, which typically qualifies within the EWS (≤ ₹3 lakhs) or LIG (₹3–6 lakhs) bracket. You may be eligible under CLSS for subsidy. Verify eligibility and documentation under PMAY norms.

Yes, Bajaj Markets offers seamless online applications, even for ₹30,000 salary earners. You can submit your details digitally, compare offers from multiple lenders, calculate EMIs and eligibility, and proceed with e-verification, all online.

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