Home Loan on 50000 Salary

The amount of home loan varies based on a few factors that include monthly income, age of an applicant, location of a property, and others. However, you can take the help of different online calculators to find the eligible loan amount in advance and then apply accordingly.

Home loans based on salaries

One of the most important factors that determines the amount of a home loan on Rs. 50,000 salary is the net salary of the borrower. Explained below are the salary pertinent home loan amounts sanctioned:

Borrower’s age	Net salary per month (Rs.)
	25,000 – 50,000	75,000
	Eligible loan amount
25 years	20.85 lakhs - 41.70 lakhs	62.55 lakhs
30 years	20.85 lakhs - 41.70 lakhs	62.55 lakhs
35 years	20.85 lakhs - 41.70 lakhs	62.55 lakhs
40 years	19.78 lakhs – 39.56 lakhs	59.35 lakhs
45 years	17.77 lakhs – 35.55 lakhs	53.32 lakhs
50 years	14.63 lakhs – 29.26 lakhs	43.89 lakhs

** Note - The loan amounts mentioned in the table above are estimated figures and might change as per the norms and conditions of the banks and financial institutions.

How much home loan can I get on a 50000 salary?

If you are contemplating the home loan on 50000 salary, you can refer to the table below for a quick overview:

Net monthly income	Home loan amount**
Rs. 50,000	Rs. 41,70,657
Rs. 49,000	Rs. 40,87,244
Rs. 48,000	Rs. 40,03,831
Rs. 47,000	Rs. 39,20,417
Rs. 46,000	Rs. 38,37,004

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

You can now quickly check your home loan eligibility through an online calculator. Here are the related steps to use it:

Step 1: Go to a home loan eligibility calculator page.

Step 2: Provide the information stated below:

Date of birth
City of residence
Net monthly salary
Loan repayment tenor
Additional income amount
Current EMIs and other obligations

Step 3: After entering these details and click on ‘check your eligibility.’

Step 4: This eligibility calculator will instantly show the loan amount you can avail of. You can also change the values in different tabs to find a preferable loan offer.

Besides assessing home loan eligibility, you should also be mindful of the documents required for home loan.

What are the documents required for a housing loan?

Here is the list of documents you need 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 housing loan offered by Bajaj Finserv?

The current home loan interest rate charged by Bajaj Finserv starts from 7.99%* p.a. As such, the EMIs will start from just Rs. 722/lakh*.

The advantages of availing of housing credit from Bajaj Finserv include:

High loan amount

Depending on your eligibility, you can now get a housing loan of up to Rs. 15 crore* basis eligibility with Bajaj Finserv. Moreover, you can get a top-up loan of up to Rs. 1 crore* or higher to meet additional expenses.
Long repayment tenor

The repayment period of housing loans here can go up to 32 years. Thus, you can repay the credit effortlessly with affordable EMIs. You can also use a home loan EMI calculator to find a suitable tenor as per your repayment capacity.
Balance transfer facility

The home loan balance transfer facility allows you to shift your loan to Bajaj Finserv and enjoy lower interest rate and repayment flexibility. Also, you can enjoy a substantial top-up loan.
No charges on prepayment and foreclosure

Besides paying regular home loan EMIs, you can also opt for prepayment or foreclosure to pay off your debts early. Bajaj Finserv does not levy any additional charges on such facilities.
Online account management

With the customer portal of Bajaj Finserv, you can now manage your loan account without any hassle. You can make loan payments or access vital documents through it.
Property dossier

The property dossier offers an overview of the financial and technical aspects of owning a house, helping you to make an informed decision.
PMAY benefits

Bajaj Finserv is registered to extend the Pradhan Mantri Awas Yojana benefits. You can now get a housing loan against the subsidised interest rate under this plan.

Besides these advantages, you should also be wary of the home loan tax benefits and plan accordingly.

You can apply for a housing loan with Bajaj Finserv by following the steps mentioned below:

1 Go to the official website of Bajaj Finserv
2 Complete the fill-up of loan application form with needed professional and personal information
3 Following the initial approval, submit the required papers and pay associated charges
4 After that, a representative from Bajaj Finserv will contact you for future proceedings
5 After successful verification of property and loan documents, you will receive the loan sanction letter
6 After the signing of a loan agreement, you will get the loan amount

Here are some tips to improve your eligibility for a home loan on 50,000 salary:

Add a co-applicant
Maintain a high credit score and a clean repayment history
Opt for a longer tenor
Add other income sources

To know more about a home loan on 50,000 salary, contact a representative from Bajaj Finserv.

Frequently asked questions

The amount of home loan you can get depends on several factors, including your monthly salary, your creditworthiness, the lender's policies, the interest rate, and the loan tenure. Lenders typically have a certain debt-to-income ratio they use to determine how much of your income can be allocated to loan repayments. This ratio can vary but is usually around 40-50% of your monthly income.

The amount of home loan you can get with a salary of Rs. 40,000 will depend on various factors including your monthly salary, creditworthiness, lender policies, interest rate, and loan tenure.