Home Loan on 35000 Salary

Before individuals apply for a housing loan, they should be aware of the different factors responsible for their loan amount eligibility. These factors include the individual’s salary, age, current obligations, desired property location, and more.

However, one can always find out his or her loan amount eligibility before applying for one with the help of a home loan eligibility calculator.

How much home loan can I get on Rs. 35,000 salary?

The table below offers a complete overview of the loan amount an individual is eligible for based on his or her current salary, current obligations, location, and a tenor of 20 years.

Net monthly income	Home loan amount**
Rs. 35,000	Rs. 29,19,460
Rs. 34,000	Rs. 28,36,047
Rs. 33,000	Rs. 27,52,633
Rs. 32,000	Rs. 26,69,220
Rs. 31,000	Rs. 25,85,807

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

With this, individuals can figure out the amount they are eligible for a home loan on 35000 salary. They can further boost their loan amount eligibility by including other sources of income.

Individuals should also be aware of the home loan eligibility parameters before applying for one to avoid rejections.

Individuals can check their eligibility for home loans by using an online eligibility calculator from Bajaj Finserv. Here is a step-by-step guide on using it:

Step 1: Open the home loan eligibility calculator page on the website.

Step 2: Enter the following details:

Date of birth
City of residence
Net monthly salary
Current financial obligations and EMIs

Step 3: Click on ‘check your eligibility.’

Step 4: The calculator will compute and show the loan amount you are eligible for. Adjust all the details in different tabs to find a suitable loan offer.

What are the documents required to avail of a home loan?

Eligible individuals need to submit these documents while applying for a home loan:

Proof of income (salary slips, financial documents of the business, form 16)
KYC documents
Bank account statement for the last 6 months
Proof of business continuity

Interest rates on/ home loans for individuals earning Rs. 35,000 per month depend on several factors such as the lender’s policies, the applicant’s credit score, loan tenure, and property location. Generally, salaried applicants with a stable income and a high credit score (725 or above) can secure competitive interest rates.

With Bajaj Finance, borrowers can get a home loan interest rate starting from 7.99%* p.a.. Before finalising a loan, borrowers should also explore tools like the home loan EMI calculator to evaluate how interest rates impact their EMI and long-term costs.

How to calculate the maximum loan amount for a Rs. 35,000 salary

Calculating the maximum loan amount for a Rs. 35,000 salary involves considering factors like income, tenure, and interest rate. Lenders generally allow an EMI-to-income ratio of 40-50%, meaning your EMI should ideally not exceed Rs. 14,000-Rs. 17,500.

Using a home loan EMI calculator, applicants can input their salary, loan tenure, and interest rate to estimate the maximum loan amount they qualify for. A longer tenure may increase eligibility by lowering EMIs, while shorter tenures can reduce overall interest costs.

A home loan on 35000 salary from Bajaj Finserv comes with several benefits:

Longer repayment tenor

Individuals opting for home loans from Bajaj Finserv can choose a maximum repayment period of up to 32 years. A longer repayment tenor makes EMIs affordable, and individuals can repay the credit amount without any hassle. In this regard, individuals can also use an home loan EMI calculator to find their best-suited repayment tenor.
High loan amount

Bajaj Finserv offers a maximum home loan amount of up to Rs. 15 crore* , basis eligibility. This loan amount can go even higher depending on the applicant’s eligibility.
Disbursal within 48 hours*

Once the loan application is approved after the required paperwork and property verification, individuals can expect to receive the loan amount within a time span of 48 hours*.
PMAY benefits

As one of the registered financial institutions, Bajaj Finserv extends the Pradhan Mantri Awas Yojana benefits to individuals availing of home loans from this NBFC.
Easy balance transfer

With Bajaj Finserv, home loan balance transfer has become easier than ever. Individuals can avail of a maximum top-up loan of Rs. 1 crore* or higher with this facility.
Online account management

With the online Bajaj Finserv customer portal, individuals can easily manage their loans after the amount is disbursed. Furthermore, individuals can access loan documents, statements and pay EMIs anywhere anytime at their own convenience.
Zero additional charges on part-prepayments or foreclosure

Besides regular home loan EMIs, individuals can foreclose their loan accounts or make part payments whenever they like. There are no extra charges for that.

Apart from these, individuals can also avail of tax benefits on home loans under Sections 80C and 24B.

Individuals willing to apply for home loans on 35000 salary can follow these simple steps:

1 Go to Bajaj Finserv's official website
2 Fill out the home loan application form with all the required details
3 Submit the necessary documents after getting the initial approval
4 Representatives from Bajaj Finserv will reach out to them to verify the property documents
5 Individuals will receive a loan sanction letter after successful property and document verification
6 On signing the loan agreement and paying the required fee, individuals will receive the loan amount