Quick Answer: How Much Loan Can I Get On 27000 Salary?

What is the EMI for 15 lakhs home loan?

EMI Calculations for a Home Loan of Rs.

15 Lakh with Different TenorsLoan AmountEMI when Tenor is 10 YearsEMI when Tenor is 20 YearsRs.

15,00,00019,82314,475.

How is loan amount calculated?

The mathematical formula for calculating EMIs is: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for the loan amount or principal, R is the interest rate per month [if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)], and N is the number of monthly instalments.

What is cc limit?

Cash credit limit or CC limit is a kind of current account with cheque book facility. … CC limit holders offers stock and debtors as primary security to the bank. A CC limit or cash credit limit allows you to withdraw money or issue cheque up to the approved CC limit, even if there is no balance in the account.

What will be the EMI for 50 lakhs?

Rs 50 lakh home loan EMI for 20 years at interest rate of 7.5% has a monthly EMI of Rs 40,280. This means that the total interest paid is Rs 47 lac during the full loan tenure without any prepayments. Rs 50 lakh home loan EMI for 15 years at interest rate of 7.5% has a monthly EMI of Rs 46,351.

How much loan can I get if my salary is 25000?

Most lenders determine the maximum loan amount up to 10 times of your monthly salary. If you earn Rs. 25,000 per month, you may become eligible for up to Rs. 2.5 Lakhs.

How much loan can I get if my salary is 24000?

Based on the information provided by the applicant, bank will calculate his eligibility using eligibility calculator. With a salary of ₹ 24,000, the maximum amount for which he is eligible is ₹ 5.89 Lakh. The interest he has to pay for this amount for 72 months is 9.60%.

How much home loan can I get on 28000 salary?

Here taking a salary as ₹ 30k, & without any fixed monthly obligation, you can pay a maximum of ₹ 15,000 as EMI considering 50% FOIR. If the interest rate is 10% per annum, the loan amount eligibility can be arrived at ₹ 17,09,806 using a home loan eligibility calculator (assuming 3 household members).

How much home loan can I get on 20000 salary?

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

How is loan eligibility calculated for salary?

If you take a personal loan for a maximum of 5 years, then your loan amount will be ₹ 20,000*12*5 = ₹ 12,00,000. However, the multiplier is 20, then the loan amount will be ₹ 40,000*20 = ₹ 8,00,000. Therefore, the amount you will get on ₹ 40,000 salary is ₹ 8,00,000.

Can I take 100% home loan?

Lending institutions provide Loan Against Property approval for a specific percentage of the mortgaged property’s value. For certain security purposes, lenders do not sanction a Mortgage Loan with LTV of 100%. You can avail a maximum of 90% of the property’s present market value from any lender.

What will be the EMI for 25 lakhs home loan?

Current EMI for ₹ 25 Lakh loan is ₹ 16,132 and EMI for ₹ 30 Lakh loan is ₹ 19,358 for a 30 year loan at the minimum interest rate.

Can I get 15 lakh loan?

15 lakh with flexible repayment….Axis Bank Personal Loan Details.Interest Rate12% – 21% p.a.Loan AmountUp to Rs.15 lakhLoan TenureUp to 5 yearsMinimum Income RequiredRs.15,000 (monthly)

Can I get personal loan if my salary is 10000?

The more income proof you are able to provide, the higher will be the approval chances. Banks such as SBI and Indian Overseas Bank provide personal loans to individuals who have lower income of Rs….personal loan for low salary less than 10000.BankMinimum Monthly Income RequiredPunjab National BankRs. 10,000HDFC BankRs. 15,000ICICI BankRs. 17,5002 more rows•Jun 19, 2019

Can I buy a house with 40000 salary?

Take a homebuyer who makes $40,000 a year. The maximum amount for monthly mortgage-related payments at 28% of gross income is $933. … Furthermore, the lender says the total debt payments each month should not exceed 36%, which comes to $1,200.

How much loan can I get if my salary is 12000?

Salary of 12000, Am I eligible for Loan? Check here onlineProductSalaryMin. loan amountPersonal Loan1200040000Home Loan12000300000Car Loan12000150000Credit Card12000

How much loan can I get on 30000 salary?

Consider – how much personal loan can I get on a 20,000 salary? Sans any other financial obligations, you can expect to be eligible for a loan of Rs. 5,40,000….Multiplier Method.SalaryExpected Personal Loan AmountRs. 20,000Rs. 5.40 lakhsRs. 30,000Rs. 8.10 lakhsRs. 40,000Rs. 10.80 lakhsRs. 50,000Rs. 13.50 lakhs1 more row•Apr 8, 2020

What is the EMI for 20 lakhs home loan?

EMIs on a 20 lakh home loan for 30 yearsLoan AmountInterest rateEMIRs.20 lakh10%Rs.17,551

How much home loan can I get on 15000 salary?

1,80,000 per annum or Rs. 15,000 per month. While the exact loan amount that you can borrow will vary based on your income and repayment capacity, you will need to borrow at least Rs. 50,000 from IDBI Bank when taking a personal loan from them.