✓ Home Loan from ₹2 Lakhs to ₹15 Crores ✓ Interest Rates Starting @ 7.99% Apply Now

Whether on a tight budget or looking for additional funds to purchase a house, a home loan can help make that possible. In today’s day and age, property rates are rising by the minute. You may find it nearly implausible to purchase a home just with your savings. 

Home loans can help you become a homeowner. Many banks and financial institutions offer them with easy approval. If you earn ₹35,000 per month, you may qualify for a home loan with good terms.

How Much Home Loan Can I Get on a ₹35,000 Salary

You are currently earning ₹35,000 per month, and it is important to understand the loan amount you may be eligible for. 

Bajaj Markets offers a house loan eligibility calculator to help you find sanctioned loan amounts according to your profile. However, there are various factors like loan tenure, credit score, etc., that influence the sanctioned home loan amount.

At the interest rate of 8.50% p.a., check how variations in loan tenure influence the eligible home loan amount:

Tenure 

Home Loan Amount

10 years

₹15,52,599

15 years

₹19,54,832

20 years

₹22,18,194

25 years

₹23,90,630

30 years

₹25,03,533

*Disclaimer: These values are an estimate and calculated using a home loan eligibility calculator. The actual amount may differ as per your eligibility and the lender’s policies.

As a borrower, you can make use of various methods to increase the amount you can be sanctioned on your home loan eligibility for a ₹35,000 salary, which includes paying off any debt that you may already possess. This vastly improves your credit score and helps give the lender the notion that you will not default on your home loan.

Home Loans Based on Salaries

Your net salary determines the amount of home loan you can get. Listed below are the salaries pertinent to the home loan amounts sanctioned by most lenders:

Borrower’s Age

Net Salary per month (₹)

25,000 – 50,000

75,000

25 Years

20.85 Lakhs - 41.70 Lakhs

62.55 Lakhs

30 Years

20.85 Lakhs - 41.70 Lakhs

62.55 Lakhs

35 Years

20.85 Lakhs - 41.70 Lakhs

62.55 Lakhs

40 Years

19.78 Lakhs – 39.56 Lakhs

59.35 Lakhs

45 Years

17.77 Lakhs – 35.55 Lakhs

53.32 Lakhs

50 Years

14.63 Lakhs – 29.26 Lakhs

43.89 Lakhs

Disclaimer: The loan amounts mentioned in the table above are estimated figures and might change as per the norms and conditions of the banks and financial institutions.

Eligibility Criteria for a Home Loan on a ₹35,000 Salary

To apply for a home loan on Bajaj Markets, you need to meet the following eligibility requirements:

  • You must be an Indian resident

  • Salaried applicants should be between 23 and 62 years old and have at least 3 years of stable employment

  • Self-employed individuals should be aged 25 to 70 and must have a minimum of 5 years of successful business operations

Documents Required for ₹35,000 Salary Home Loan

Once you are eligible, you need to provide the following paperwork to complete the formalities for the home loan application:

  • Identity Proof: PAN Card, Aadhaar Card, Voter ID, Driving Licence

  • Address Proof: Utility Bills, Aadhaar Card, Passport

  • Income Proof (Salaried): Last 3 months’ salary slips, Form 16, ITR of previous 2 years

  • Income Proof (Self-employed): ITR of last 2 years, audited balance sheet from CA, P&L statements (3 years), degree/professional certificates, TDS certificate, business licence

How to Calculate the Maximum Loan Amount for a ₹35,000 Salary

The maximum home loan amount for a ₹35,000 monthly salary is influenced by the loan tenure, interest rate, and income. Lenders generally allow an EMI-to-income ratio between 40 and 50 percent, meaning your EMI needs to fall within the range of ₹14,000 to ₹17,500.

To estimate the maximum eligible loan amount, you have to input your salary, preferred loan tenure, and applicable interest rate into a home loan EMI calculator. Longer tenures may increase eligibility by lowering the EMI, whereas shorter tenures help reduce the total interest paid.

Banks and NBFCs Offering Home Loans on ₹35,000 Salary

On Bajaj Markets, you can get a home loan from several lenders if you have a monthly income of ₹35,000. With interest rates starting from 7.99% p.a. and maximum tenures of 32 years, you can access higher loan amounts with manageable EMIs. Here are the top lenders and their home loan highlights:

Lender Name

Maximum Loan Amount

Minimum Interest Rate

Maximum Tenure

Bajaj Housing Finance

₹15 Crores

7.99% p.a.

32 Years

Home First Finance Company

₹35 Lakhs

9.00% p.a.

20 Years

ICICI Bank

₹5 Crores

9.00% p.a.

30 Years

India Shelter

₹40 Lakhs

13.00% p.a.

20 Years

Kotak Mahindra Bank

₹50 Lakhs

9.00% p.a.

20 Years

L&T Finance

₹7.5 Crores

8.60% p.a.

25 Years

LIC Housing Finance

₹15 Crores

8.65% p.a.

30 Years

PNB Housing Finance

₹15 Crores

8.50% p.a.

30 Years

Sammaan Capital

₹5 Crores

8.75% p.a.

30 Years

Shriram Housing Finance

₹1 Crore

11.50% p.a.

25 Years

Shubham Housing Finance

₹50 Lakhs

9.90% p.a.

30 Years

Vridhi Home Finance

₹25 Lakhs

12.00% p.a.

12 Years

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

Conclusion

Before you decide to take the plunge and purchase a home, you must make sure to conduct in-depth research on the terms and conditions offered by all lenders in the market. Each lender will factor in a wide multitude of factors before they sanction your loan. 

To get the best and most comprehensive home loans in the market, with attractive benefits and features, visit Bajaj Markets today. 

FAQs on a ₹35,000 Salary Home Loan

What home loan amount can I expect on a ₹35,000 salary?

Your loan amount with a salary of ₹35,000 is contingent upon several criteria, such as your loan-to-income ratio, credit score, and the lending institution's rules. 

Lenders often take into account a loan-to-income ratio between 40 and 50%. As a result, you could qualify for a loan with an EMI between ₹14,000 and ₹17,500. Other factors, however, can affect the actual loan amount.

Can I get a home loan with a salary of ₹35,000 if I have a low credit score?

You may still get a home loan with a ₹35,000 salary and a low credit score, but approval is less certain. Lenders might offer a lower amount, charge higher interest, or require a guarantor or collateral. Strengthening your credit score can improve your chances.

How long does it take to get a home loan approved with a salary of ₹35,000?

Home loan approval typically takes a few days to a week, depending on the lender's processing time and documentation verification. Ensure all required documents are in place to help speed up the process.

Can I prepay my loan if my salary increases from ₹35,000?

Yes, you can prepay your loan if your salary increases. Prepayment allows you to make additional payments towards the principal, reducing the outstanding balance and potentially shortening the loan term.

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