How Much Home Loan Can I Get on My Salary? (Eligibility Table)
How banks decide how much you can borrow
Lenders use a simple rule. They add up all the fixed monthly payments you would have, including the new EMI, and check that the total is within a share of your net monthly income. This share is called the FOIR (fixed obligation to income ratio). It is commonly 40 to 55%, and higher for high earners.
The steps:
- Maximum EMI = income × FOIR − existing EMIs.
- Convert that EMI to a loan amount using the EMI formula in reverse, at the interest rate and tenure.
For a salary of ₹1 lakh, FOIR of 50% and no existing EMIs, the maximum EMI is ₹50,000. At 8.5% for 20 years, ₹50,000 a month supports a loan of about ₹57.6 lakh.
Eligibility table
Loan you may get at 8.5% for 20 years, no existing EMIs, by FOIR:
| Net monthly income | At 40% FOIR | At 50% FOIR |
|---|---|---|
| ₹50,000 | ₹23.0 lakh | ₹28.8 lakh |
| ₹75,000 | ₹34.6 lakh | ₹43.2 lakh |
| ₹1,00,000 | ₹46.1 lakh | ₹57.6 lakh |
| ₹1,50,000 | ₹69.1 lakh | ₹86.4 lakh |
| ₹2,00,000 | ₹92.2 lakh | ₹1.15 crore |
These are estimates. Your lender will also check your credit score, age, employer, job stability and the value of the property. Use the home loan eligibility calculator with your own numbers.
Reducing-balance method, monthly compounding. Rate shown is indicative: confirm the live rate with your lender.
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*Monthly take-home needed if EMI is capped at 50% of income.
Year-by-year repayment schedule
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| Year 1 | ₹99,511 | ₹4,21,182 | ₹49,00,489 |
| Year 2 | ₹1,08,307 | ₹4,12,387 | ₹47,92,181 |
| Year 3 | ₹1,17,881 | ₹4,02,813 | ₹46,74,300 |
| Year 4 | ₹1,28,300 | ₹3,92,394 | ₹45,46,000 |
| Year 5 | ₹1,39,641 | ₹3,81,053 | ₹44,06,359 |
| Year 6 | ₹1,51,984 | ₹3,68,710 | ₹42,54,375 |
| Year 7 | ₹1,65,418 | ₹3,55,276 | ₹40,88,957 |
| Year 8 | ₹1,80,039 | ₹3,40,655 | ₹39,08,918 |
| Year 9 | ₹1,95,953 | ₹3,24,741 | ₹37,12,965 |
| Year 10 | ₹2,13,274 | ₹3,07,420 | ₹34,99,691 |
| Year 11 | ₹2,32,125 | ₹2,88,569 | ₹32,67,566 |
| Year 12 | ₹2,52,643 | ₹2,68,051 | ₹30,14,923 |
| Year 13 | ₹2,74,974 | ₹2,45,720 | ₹27,39,949 |
| Year 14 | ₹2,99,279 | ₹2,21,415 | ₹24,40,670 |
| Year 15 | ₹3,25,733 | ₹1,94,961 | ₹21,14,937 |
| Year 16 | ₹3,54,525 | ₹1,66,169 | ₹17,60,412 |
| Year 17 | ₹3,85,862 | ₹1,34,832 | ₹13,74,550 |
| Year 18 | ₹4,19,968 | ₹1,00,726 | ₹9,54,582 |
| Year 19 | ₹4,57,090 | ₹63,604 | ₹4,97,492 |
| Year 20 | ₹4,97,492 | ₹23,202 | ₹0 |
What reduces your eligibility
- Existing EMIs: every ₹10,000 of other EMIs cuts your maximum loan by roughly ₹11.5 lakh at these assumptions.
- Credit card dues: lenders count minimum dues in your obligations.
- Short tenure: a 10-year loan has a much higher EMI, so the maximum loan is lower.
- Age: lenders cap the tenure so the loan ends by about age 60 to 70, depending on the lender and your job type.
How to raise your eligibility
- Close or reduce other loans first. Clearing a small personal loan can raise your home loan limit a lot.
- Add a co-applicant. Their income is added to yours.
- Choose a longer tenure. This lowers the EMI so the loan amount rises, though total interest rises too.
- Improve your credit score. A better score can bring a lower rate, which raises the loan you qualify for.
- Make a larger down payment. You need a smaller loan to begin with.
- Include other regular income. Rent, bonuses and side income count if you can prove them.
Eligibility is a ceiling, not a target
Being eligible for ₹57.6 lakh does not mean you should borrow it. A good test is to keep all EMIs within about 40% of take-home pay, and check that you can still save and cover an emergency fund. Run the EMI for the amount you actually need in the home loan EMI calculator.
FAQ
How much home loan can I get on ₹50,000 salary?
At 8.5% for 20 years with a 50% cap and no other EMIs, about ₹28.8 lakh. With a 40% cap, about ₹23 lakh.
What is the FOIR for a home loan?
It is the share of income allowed for fixed obligations. Most lenders use 40 to 55%.
Can I get a home loan with a co-applicant?
Yes. Lenders add the co-applicant's income, and both are responsible for repayment.
Does bonus or rental income count?
Often yes, if it is regular and documented. Lenders may count only part of variable income.
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This guide is for general information, not financial advice. Rates and rules change: confirm current terms with your lender.