How much Home Loan can I Get on 45000 Salary?

Hello Priyal, I can tell you how much home loan can I get on 45000 salary. I applied for a home loan a while ago and have a similar monthly income. So, the loan amount you can get is actually dependent on factors like the credit score, the LTV ratio, the tenure and more. 

I was able to get a loan of approximately Rs. 30 lakhs. Let me tell you more about this.

How Much Home Loan for 45000 Salary?

See, the amount you can get is not only dependent on the salary but your application. So, throwing random numbers wouldn’t be helpful. I will share the factors instead so you can check the eligible amount for your application.

1. Tenure: A longer tenure increases the amount you can get. 

2. Age: Your age is another factor where younger applicants are preferred over older applicants by the bank, thus impacting the loan amount one can get.

3. Debt to Income Ratio: If your debt-to-income ratio is lower, the chances of increasing the loan amount you can get also increase.

So, analyse these factors and you will be able to assess my salary is 45000 how much home loan can I get.

Home loans offered by State Bank of India (SBI) are eligible based on a straightforward set of requirements, making them available to a diverse range of borrowers. There are numerous home loan programmes with appealing interest rates and flexible payback terms to accommodate different needs. The SBI eligibility for a home loan calculator depends on a number of factors such as the age of the applicant, credit score, and income or salary.

As I also opted for an SBI home loan, I can help you by estimating the

home loan eligibility based on salary

, taking into account the starting interest rate of 6.95% p.a., a maximum repayment term of 30 years, and assuming there are no other financial commitments regarding the Equated Monthly Instalments (EMI) for other loans.

You can go through the below-given table to understand the home loan that you can get in different salary ranges;

The following criteria determine eligibility for SBI house loans:

• Candidate's age

• Applicant's credit rating

• Salary or source of income of the applicant

• Citizenship status in India

To conclude, I’d say that you can opt for the NoBroker home loan calculator to understand your EMI amount. I hope this helps:)

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Hi Buddy,

The standards for home loan eligibility as per salary are the same for all banks and non-banking financial institutions (NBFCs). However, depending on each lender's regulations, there can also be particular standards that apply. Understanding the requirements for eligibility for a home loan ensures that your application process will go more smoothly and efficiently.

I have provided a table listing the loan amount that you can avail by using the home loan eligibility calculator based on salary. I have considered the repayment period as 30 years, with no outstanding EMIs, and the interest rate of 6.90 percent p.a. while calculating the sum.

I hope this clarifies your query about

how much loan can i get on 45000 salary.

The bank will decide on the house loan based on your income and ability to make payments. To establish the acceptable home loan amount, additional factors like age, qualification, dependents, your spouse's income, assets, and liabilities are also taken into consideration. It completely depends on banks about your

45000 salary home loan.

I would like to conclude here as I believe this answer suffices your query about

home loan eligibility as per salary. I hope this helps:)

Read More:

• Basic Salary
• Allowances such as House Rent Allowance (HRA), Leave Travel Allowance (LTA), Medical Allowance, Other Allowances, and more.
• There are some deductions like Professional Tax, Tax Deduction at Source (TDS), Provident Fund (EPF), etc. as well.

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