Home Loan on 40,000 Salary

Check How much Home Loan Can I Get on 40000 Salary

✓ Home Loan from ₹2 Lakhs To ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 8.50%

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:

Net Monthly Income

Home Loan Amount











The home loan amount given in the table is calculated using the eligibility calculator. The actual home loan amount can vary based on location, age, monthly income & various other factors.

As a borrower, when you know the amount of home loan on a ₹40,000 salary, there are many ways to improve your home loan eligibility for a ₹40,000 salary, like increasing your credit score and paying off all your debts on time, etc.

What is the current Interest Rate on a Home Loan available on Bajaj Markets

When you choose Bajaj MARKETS home loans, you get a chance to benefit from an attractive interest rate starting at just 7.10%*. The eligibility parameters for a home loan are highly simplified at Bajaj MARKETS, and the documents required are minimal. You can avail the best offers to support you in buying, constructing, or renovating your new home.

You can use the online home loan EMI calculator of Bajaj MARKETS to plan your loan repayment seamlessly. You can avail of a maximum loan tenure of up to 30 years at a competitive interest rate; you can easily calculate the most suitable EMIs that complement your monthly income.

** The above charges are excluding taxes
* Placeholder for disclaimers on Interest and Charges page
 **These are indicative and subject to change at the discretion of lender/ without prior notice.

How to Check Home Loan Eligibility

Salaried individuals or people earning through their self-employment can easily check their housing loan eligibility for a ₹40,000 salary seamlessly by visiting the home loan EMI calculator page on the official website of Bajaj Markets. Generally, the basic requirements are the same; some specific factors can vary based on the borrower's age and income structure. You can follow the given steps to check your home loan eligibility using the home loan eligibility calculator.

  • Step 1: You would be required to input your location or city of residence and the date of birth in the respective fields of the EMI calculator window.

  • Step 2: Next, you need to enter the monthly income amount against the given field on the calculator.

  • Step 3: You can click the "check your eligibility" button to know the eligible loan amount.

  • Step 4: You can also modify the values to adjust the loan amount according to your requirements.

Documents Required for Home Loan on 40,000 Salary

The documents required to apply for the home loan vary based on the type of employment the applicant is engaged in. Some of the common home loan documents that need to apply are as follows: -

1. For salaried individuals

  • Address proof

  • KYC documents

  • Proof of income

  • Form 16 or latest salary slips (last 3-6 months)

  • Bank/financial statement for the last six months

2. For self-employed applicants

  • Profit and Loss account statement

  • KYC documents

  • GST registration certificate of the firm/business

  • Financial statement pertaining to last six months

  • Balance sheet of the firm/business

How to Apply for a Home Loan on Bajaj Markets

You can follow the given step-by-step guide for the easy application process for the home loan on a salary of ₹40,00:-

  • Step 1: First, visit the official website of Bajaj Markets to initiate the application process.

  • Step 2: Next, you can fill out the loan application form by providing the required details.

  • Step 3: You can choose the amount of the home loan based on your requirement and submit it for initial approval.

  • Step 4: Once the initial approval is done, you need to submit the required documents.

  • Step 5: Once the documents are verified, the applicant will be issued a loan sanction letter.

  • Step 6: After the loan amount is approved, the applicant can easily receive the sanctioned loan amount.

Factors that Affect Home Loan Eligibility

The lender/financial institution determines the eligibility of the home loan application based on certain factors; the major factors have been discussed here: -

  • The willingness of the borrower to pay the loan amount:  Willingness to pay back the loan amount can be adjudicated through the borrower's credit score. The credit score reflects the applicant's current financial obligations and credit history. Lenders generally prefer lending home loans to individuals with a high credit score as it assures the lender about the good record of credit handling by the borrower.

  • Repayment capacity of the borrower: Financial institutions cross-check the in-hand salary of the applicant while determining the eligibility of his home loan application. The applicant with a handsome salary and good credit score can easily get their home loan approved at attractive interest rates and low processing charges. If you have a credit score of 750 or more, you can easily negotiate the housing loan interest rate.

  • Occupation/type of employment: People employed with a reputable company will likely get their house loan approved easily since regular salary payments ensure prompt monthly EMI payments. There are chances that the approved loan amount might also be on the higher side.

  • Age of the applicant: Home loans are generally offered to applicants between the age of 21 to 55 years. Financial institutions/lenders prefer lending loans to younger applicants since they have a more extended career ahead, and their repayment prospects of home loan repayment are higher. 

  • Tenure of home loan: The duration of the home loan repayment or the loan tenure also governs the eligibility criteria. On choosing a longer tenure, the instalment amount reduces, which eventually increases the loan amount eligibility.

  • Existing loans: For determining the eligibility, the lender considers the personal loans, vehicle loans, and the credit limit utilised on the credit cards, etc., for loans of high amounts like a home loan. This factor helps to determine that the borrower is not over-indebted and can seamlessly pay back the applicable EMIs regularly.

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:-


Age of Borrower

Net/in-hand Monthly Salary (in ₹)

25,000 – 50,000


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


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.

Home Loan on 40,000 FAQs

  • ✔️How much house loan can I get on a ₹25,000 salary?

    Assuming your age is 25 years and you have no other outstanding loans or monthly obligations, so with a monthly salary of ₹25,000, you can quickly get a home loan of up to ₹20.85 lakhs.

  • ✔️How much house loan can I get on a ₹45,000 salary?

    Considering your age is 25 years, and you have a good credit score of 750+, so on a monthly salary of ₹45,000, you can get a home loan of up to ₹37.53 lakhs. 

  • ✔️How much house loan can I get on a ₹50,000 salary?

    Assuming you are 25 years old and have no other outstanding loans, with a monthly salary of ₹50,000, you can easily get a home loan of up to ₹41.70 lakhs.