Home Loan on ₹ 40,000 Salary

In Indian culture, purchasing a home is one of the most cherished dreams and a crucial step toward reaching the status of being settled. However, with the increasing inflation levels, property prices are going out of control for the employed people. Therefore it has become a general notion that the dream of buying a house can only be realised in the later stages of life when they have acquired significant savings to pay for the house. To help you in these situations, home loans come to your rescue as they help you to realise your dream of buying a home at a young age. So, if you are also wondering how much home loan can you get on a salary of ₹40,000, this article clarifies all your doubts.

How much Home Loan Can I Get on a ₹40,000 Salary

The following table gives you an idea about the amount of loan you can avail yourself based on your salary:

Home Loans Based on Salaries

The criteria of net salary is crucial as it helps get an idea about the repayment capabilities of the borrower. One of the most important eligibility criteria that decide the home loan on ₹40,000 salary is the net salary or the in-hand salary of the applicant. The following table highlights the details of the home loan amount based on the salaries:-

Conclusion

Before you make your final choice for the new home, you should first finalise the budget you wish to spend against it. The budget for the new home also depends on the amount of home loan you can get based on your credit score, monthly in-hand salary, and other eligibility criteria. If you have a good credit score, then opting for a home loan would be the best choice to move close to your dream of owning a new house. You can avail the best home loan offers by applying through Bajaj Markets, and you get a chance to benefit from the competitive rates offered and seamless loan approval process. You can use the home loan eligibility calculator to check your home loan eligibility and accordingly plan the budget for your new home.