Question: What Is The EMI For 40 Lakhs Home Loan?

What is the EMI for 60 lakhs home loan?

60 Lakh at 9% (0.75% per month) rate of interest with tenure of 20 years (240 months).

Then, EMI = [60,00,000 x 0.75% x (1+0.75%)^240]/[(1+0.75%)^ (240-1)]….FAQs.LTVProperty value90%Less than Rs.

30 Lakh80%Rs.

30 Lakh to up to Rs.

75 Lakh75%Above Rs.

75 Lakh.

Can I get 15 lakh loan?

15 lakh with flexible repayment….Axis Bank Personal Loan Details.Interest Rate12% – 24% p.a.Loan AmountUp to Rs.15 lakhLoan TenureUp to 5 yearsMinimum Income RequiredRs.15,000 (monthly)

How much home loan can I get on 55000 salary?

If your monthly income is Rs. 55,000 net, your Home Loan EMI can be a maximum of Rs. 22,500, as per the 50% rule. Assuming, you take the Home Loan for a period of 20 years, as is the usual benchmark, at the rate of 10% per annum, a loan amount of Rs.

Which bank is best for home loan?

These 10 banks are offering the lowest home loan interest rates for salaried individuals.BANK NAMERLLRMaximum Interest Rate (%)ICICI Bank6.958.05Indian Bank6.807.40Kotak Mahindra Bank7.408.60Indian Overseas Bank6.857.306 more rows•5 days ago

How much home loan I can get if my salary is 20000?

Salary / Income per MonthSalary / Income per MonthSBI Home Loan EligibilityLIC Home Loan Eligibility20000120000011000002500014000001200000300001700000150000035000200000018000002 more rows

How much loan can I get on 35000 salary?

If you are taking a home loan for 35,000 salary, you can get a maximum loan amount of Rs. 20,16,481 at say an 8.5% interest rate for a tenure of 20 years. In this situation, the home loan EMI amount you would pay is not more than Rs. 17,500.

How much home loan can I get on 25000 salary?

If your earning Rs. 25,000 per month, your maximum EMI towards a personal loan can be up to Rs. 12,500. Most lenders determine the maximum loan amount up to 10 times of your monthly salary.

How is loan amount calculated?

Divide your interest rate by the number of payments you’ll make in the year (interest rates are expressed annually). So, for example, if you’re making monthly payments, divide by 12. 2. Multiply it by the balance of your loan, which for the first payment, will be your whole principal amount.

Can I get 10 lakh loan?

With Bajaj Finserv, you can avail a high-value Mortgage Loan of up to Rs. 10 Lakh at affordable rate of interest. Both salaried and self-employed individuals can avail the loan.

How can I get a bank loan for a house?

Let’s understand the home loan procedure.Step 1: Fill the application form. … Step 2: Verification of documents. … Step 3: Background check. … Step 4: Processing free payment. … Step 5: The loan approval process. … Step 6: Processing the property documents. … Step 7: Loan disbursal.

How much loan can I get if my salary is 17000?

Fullerton India Personal Loan EligibilityEligibility CriteriaSalariedSelf Employed ProfessionalsMinimum Eligible Income₹ 17,000 per month₹ 2 Lakh gross annual receiptsMaximum Eligible Loan15x of monthly income-Maximum Loan Amount Eligibility₹ 25 Lakh₹ 20 LakhMinimum Work Experience12 months3 more rows•Sep 2, 2020

What is the EMI for 50 lakhs home loan?

Housing Loan Interest CalculatorEMI for various home loan amounts15 years30 years₹ 20 Lakh₹ 17,698₹ 12,972₹ 25 Lakh₹ 22,123₹ 16,215₹ 30 Lakh₹ 26,547₹ 19,458₹ 50 Lakh₹ 44,245₹ 32,4301 more row

Can I get home loan with 15000 salary?

How much loan amount you can get at 15000 per month income so here’s the complete list of banks with minimum loan amount, maximum loan amount….Home Loan Interest Rates Nov 2020.SBI6.95 – 7.70%LIC Housing Finance6.90 – 7.30%DHFL Housing8.70%Axis Bank7.75 – 8.40%Bank of Baroda6.85 – 7.85%4 more rows

How much loan can I get if my salary is 15000?

Personal Loan Eligibility Criteria for Top Banks and NBFCsLendersEligible Loan AmountMinimum Eligible IncomeTata CapitalRs. 75,000 to Rs. 25 LakhRs. 15,000 per monthUnion Bank of IndiaUp to 10 LakhRs. 15,000 per monthYES BankRs 1 Lakh to Rs 40 LakhOn a case by case basis24 more rows

How much home loan can I get on 31000 salary?

Housing Loan Eligibility – Tips Suppose, your monthly income is ₹ 30,000 and the loan amount you are eligible for is ₹ 15 Lakh, If you add your spouse as co-applicant, earning ₹ 20,000 per month, can increase your eligibility to ₹ 25 Lakh.

How much home loan can I get on 80000 salary?

For the couple making $80,000 per year, the Rule of 28 limits their monthly mortgage payments to $1,866. Ideally, you have a down payment of at least 10 percent, and up to 20 percent, of your future home’s purchase price.

What is the EMI for 15 lakhs home loan?

What is home loan EMI?Loan AmountTenure10 Years15 YearsRs. 30 LakhRs. 35,611Rs. 27,810Rs. 40 LakhRs. 47,481Rs. 37,080Rs. 50 LakhRs. 59,351Rs. 46,3511 more row

What is the EMI for 12 lakhs home loan?

Check EMI Calculation for 12 Lakh home loan for 5, 10, 15, 20 Years or How much EMI you have to pay for 12 Lakh home loan amount per month?…EMI Calculation for 12 Lakh Home Loan amount for Various Tenure Options:Tenure OptionsEMI Per Month5 YearsRs. 2433610 YearsRs. 1455615 YearsRs. 1147220 YearsRs. 100322 more rows•Feb 27, 2013

Can I get a loan of 1 lakh?

1 lakh personal loan from Bajaj Finserv. Enjoy instant approval and disbursal within only 24 hours, hassle-free application process and easy to meet eligibility criteria for instant financing. … 1 lakh amount. You can select a flexible repayment tenor ranging up to 60 months to repay the loan with ease.

What is the interest of 10 lakh in SBI?

Balances above Rs 1 lakh and up to Rs 10 lakh will fetch 6 per cent per annum. For savings account balances above Rs 10 lakh, interest rate of 6.75 per cent per annum will be applicable. Therefore, to earn the higher interest rate you will be required to maintain the balance in the savings account.