Home Loan on 25000 Salary

The home loan you can get depends on multiple factors like salary, property location, age of the applicant, current obligations, and likes. You can always take the assistance of a home loan eligibility calculator to check the credit amount you can avail of against your current monthly income.

Here is a table offering an overview of the home loan amount you can get against your current salary.

*The home loan amount above is calculated using the Bajaj Finserv eligibility calculator. The actual loan amount varies with city, age & other factors.

Now that you know the amount of home loan on Salary of Rs. 25,000 per month, you can further increase your eligibility by adding other income sources to your total monthly income amount.

Additionally, you can also take into account the tax benefits on home loan before applying.

You can check your eligibility through an online home loan eligibility calculator. Here are the steps:

Step 1: Go to our loan eligibility calculator page.

Step 2: Enter the following information –

• Date of birth
• City of residence
• Net monthly salary
• Current EMIs or other obligations

Step 3: Provide the required information and click on ‘check your eligibility.’

Step 4: This online calculator will instantly show the loan amount you are eligible for. You can then alter these values in different tabs to get an acceptable loan offer.

Besides knowing the loan eligibility, one should also go through the list of documents necessary for this purpose.

What are the documents required for a housing loan?

Here is the list of documents that one needs to submit to avail of a home loan:

• KYC documents
• Income proof (salary slips, form 16, financial documents of a business)
• Business proof stating at least 5 years of continuity
• Bank account statement of last 6 months

What is the current interest rate on a home loan?

The current home loan interest rate offered by Bajaj Finserv starts from 8.50%* p.a per annum. Hence, eligible applicants can now get a housing loan at an EMI starting at just Rs. 733/lakh*.

*The Interest rates mentioned are subject to change to know the latest rate visit here.

Here is a step-by-step guide on the application process of a home loan on a 25,000 monthly salary:

Here are some tips for you to improve your eligibility for a housing loan:

• Maintaining a high credit score and clear repayment history
• Adding a co-applicant
• Mention your additional income source
• A longer tenor can help

Get in touch with a Bajaj Finserv representative to know more about getting a home loan on 25,000 salary.