Purchasing a home is a significant milestone for many individuals, marking a transition from renting to owning and providing a sense of stability and security. However, for those with a modest income, navigating the world of home loans can seem challenging. The question then arises: how much home loan can I get on Rs. 20,000 salary per month?
Reduced interest rates, government initiatives, and related benefits have propelled the expansion of the home loan industry. Nonetheless, meeting specific eligibility requirements is imperative for securing approval for a home loan. While these criteria may differ among lenders, certain factors remain consistent across the board. These include the age of the property, the applicant's age, monthly income, and others.
Furthermore, utilising an online home loan eligibility calculator can aid in ascertaining the permissible amount and facilitate the application process.
How much home loan can I get on a Rs. 20,000 salary?
For information regarding eligible home loan amount as per salary bracket, refer to the table below:
Net monthly income |
Home loan amount** |
Rs. 30,000 |
Rs. 18,08,653 |
Rs. 29,000 |
Rs. 17,48,365 |
Rs. 28,000 |
Rs. 16,88,077 |
Rs. 27,000 |
Rs. 16,27,788 |
Rs. 26,000 |
Rs. 15,67,500 |
Rs. 25,000 |
Rs. 15,07,211 |
Rs. 24,000 |
Rs. 14,46,923 |
Rs. 23,000 |
Rs. 13,86,634 |
Rs. 22,000 |
Rs. 13,26,346 |
Rs. 21,000 |
Rs. 12,66,057 |
Rs. 20,000 |
Rs. 12,05,769 |
The figures presented for home loan amounts are derived from the Bajaj Finserv eligibility calculator. The actual loan amount may vary depending on factors such as city, age, and others.
How to check home loan eligibility?
Easily determine your eligibility for a Bajaj Housing Finance Home Loan using our online eligibility calculator. Follow these simple steps to make the most of this convenient tool:
- Visit the eligibility calculator.
- Enter the following details:
- Date of birth
- Residential address
- Net monthly income
- Monthly obligations
- Current EMIs or other financial commitments
- Upon providing this information, the online tool will promptly display the precise loan amount you qualify for. You can also adjust the parameters to explore various loan options.
Furthermore, it's essential to furnish authentic documents to facilitate smooth loan approval.
What are the documents required for a Bajaj Housing Finance Home Loan?
Take a look at the list of documents that you need to submit to avail of a home loan:
- KYC documents (identity and address proof)
- Proof of income (salary slips or P&L statement)
- Proof of business (for self-employed applicants), and
- Account statements for the last 6 months
How to apply for a Bajaj Housing Finance Home Loan?
You can easily apply for a home loan by following the simple steps mentioned below:
- Click the 'APPLY' button located on this page.
- Input your complete name, mobile number, and employment status.
- Choose the type of loan you intend to apply for.
- Generate and provide your OTP to verify your mobile number.
- After OTP verification, furnish additional information such as your monthly income, desired loan amount, and whether you've identified the property.
- Proceed to enter your date of birth, PAN number, and any other necessary details based on your chosen occupation type.
- Click the ‘SUBMIT’ button.
Your application is now submitted. Expect our representative to reach out to you and assist you with the subsequent steps.
It's that simple! Don't delay—apply for a home loan today!
