Exact home loan eligibility for every salary level. SBI, HDFC, ICICI rates. Calculate in seconds.
| Your Salary | SBI 8.35% | HDFC 8.5% | Monthly EMI |
|---|---|---|---|
| ₹20,000/mo | ₹12-14L | ₹11-13L | ₹8,000-10,000 |
| ₹25,000/mo | ₹15-17L | ₹14-16L | ₹10,000-12,500 |
| ₹30,000/mo | ₹18-20L | ₹17-19L | ₹12,000-15,000 |
| ₹35,000/mo | ₹21-24L | ₹20-22L | ₹14,000-17,500 |
| ₹40,000/mo ⭐ | ₹24-27L | ₹23-25L | ₹16,000-20,000 |
| ₹50,000/mo 🏆 | ₹30-33L | ₹28-31L | ₹20,000-25,000 |
| ₹75,000/mo | ₹45-50L | ₹42-47L | ₹30,000-37,500 |
| ₹1,00,000/mo | ₹60-68L | ₹57-64L | ₹40,000-50,000 |
Banks use the FOIR (Fixed Obligation to Income Ratio) method. Most banks allow 40-50% of your net monthly income as total EMI obligations (existing EMIs + new home loan EMI). For a ₹50,000 salary with no existing loans: Maximum EMI = ₹50,000 × 50% = ₹25,000/month. At SBI 8.35% for 20 years, ₹25,000 EMI = ₹30.4 lakh home loan.
1. Add a co-applicant: If your spouse earns ₹30,000, combined income = ₹80,000 → eligible for ₹48-54 lakh. This is the single biggest eligibility booster.
2. Improve CIBIL score: CIBIL 750+ gets best rates. CIBIL below 700 may mean rejection or higher rates. Check free on PaisaBazaar, work on improving 3-6 months before applying.
3. Close existing loans: Every ₹5,000 existing EMI reduces your home loan by ~₹6 lakh. Clear car loans and personal loans before applying.
4. Longer tenure: 30-year loan vs 20-year: same salary supports 20% larger loan amount. Trade-off: more total interest paid.
5. Choose the right bank: SBI (8.35%) offers higher eligibility than HDFC (8.5%) or ICICI (8.6%) on the same income because lower rate = lower EMI = more loan for same EMI capacity.
Rahul earns ₹50,000/month net salary. No existing loans. CIBIL score: 760. Wants to buy a ₹35 lakh flat.
SBI eligibility at 8.35% for 20 years: ₹30.4 lakh. Gap: ₹4.6 lakh. Solution: His wife earns ₹20,000/month. Combined ₹70,000 salary → eligible for ₹42.6 lakh. Rahul can now buy the ₹35 lakh flat comfortably with ₹7.6 lakh buffer. Monthly EMI: ₹28,900 (41% of combined income — well within 50% limit).