Home Loan on ₹40,000 Salary
How much you can borrow
₹23,04,617 loan
With a net monthly salary of ₹40,000 and no other EMIs, banks usually allow an EMI of up to ₹20,000. At 8.5% for 20 years, that means a home loan of about ₹23,04,617, enough for a property of around ₹28,80,771 with a 20% down payment.
Eligible loan by tenure (8.5%)
| Tenure | Eligible loan | EMI |
|---|---|---|
| 10 years | ₹16,13,089 | ₹20,000 |
| 15 years | ₹20,30,994 | ₹20,000 |
| 20 years | ₹23,04,617 | ₹20,000 |
| 25 years | ₹24,83,771 | ₹20,000 |
| 30 years | ₹26,01,073 | ₹20,000 |
Eligible loan by interest rate (20 years)
| Rate | Eligible loan | Property value |
|---|---|---|
| 7.5% | ₹24,82,643 | ₹31,03,303 |
| 8% | ₹23,91,086 | ₹29,88,857 |
| 8.5% | ₹23,04,617 | ₹28,80,771 |
| 9% | ₹22,22,899 | ₹27,78,624 |
| 9.5% | ₹21,45,621 | ₹26,82,026 |
Assumes up to 50% of net income can go to EMIs. Banks also check credit score, age and job stability.
Try your own numbers
Eligible loan
₹23,04,617
≈ ₹23.05 Lakh
- Max EMI you can pay
- ₹20,000
- Property you can buy (20% down)
- ₹28,80,771
- Down payment needed
- ₹5,76,154
- Total interest
- ₹24,95,383
Estimates only. Actual figures may vary with your bank, fund or policy.
How it worksBanks usually allow total EMIs up to about 50% of your net monthly income. Your eligible loan is what that EMI can repay over the tenure.