Question: How Much Loan Can I Get If My Salary Is 20000?

How much loan can I get on 24000 salary?

Based on the information provided by the applicant, bank will calculate his eligibility using eligibility calculator.

With a salary of ₹ 24,000, the maximum amount for which he is eligible is ₹ 5.89 Lakh.

The interest he has to pay for this amount for 72 months is 9.60%..

What is the EMI for 20 lakhs personal loan?

Formula of Calculation of EMILoan amountInterest RateEMI per month5 Lakh8.35%Rs. 6,15910 Lakh8.50%Rs. 9,84715 Lakh8.60%Rs. 13,11220 Lakh8.70%Rs. 17,610

What is the EMI for 10 lakhs home loan?

EMI Calculation for a Home Loan of Rs. 10 Lakh with Different TenorsLoan AmountEMI when Tenor is 10 YearsEMI when Tenor is 15 YearsRs. 10,00,00013,21510,746

How can I get 2 lakh loan fast?

2 lakh loan from Bajaj Finserv.Instant approval. Meet the basic eligibility criteria to avail this short-term loan. … Loan disbursed within only 24 hours. … Simple documentation. … Up to 45% less EMIs. … Pre-approved offers. … Zero hidden charges. … Flexible repayment tenor. … Collateral free credit.More items…

Can I get 100% car loan?

Car Loan Eligibility Criteria for 100% On-Road Finance The applicant must have a minimum annual income of Rs. 3 lakh. The car loan amount will not be more than the applicant’s net annual income. Existing loan EMIs plus the proposed loan EMI must be less than 50% of the applicant’s salary.

What car payment can I get on 15000 salary?

Salary of 15000, Am I eligible for Loan? Check here onlineProductSalaryMax. loan amountPersonal Loan15000140000Home Loan15000850000Car Loan15000310000Credit Card15000

Can I get personal loan if my salary is 15000?

Income: In order to be eligible for a personal loan through a bank, you have to draw a minimum salary every month, which varies from bank to bank. But generally, if you are earning at least Rs. 15,000 every month, you will be eligible for a personal loan.

How much car loan can I get on 30000 salary?

While taking the car loan, one has to factor in equated monthly installments (EMIs), the sum of principal and interest that get deducted each month from your pocket….Bank NameSBIEst. Max Loan amount (In Rs.)3.65 lacsMax Tenure (In Years)5Interest Rate9.80%Est.EMI (In Rs.)6,0223 more columns•Oct 27, 2016

Which type of loan is cheapest?

To know which type of loan is cheapest in India, we are showing some of the top secured loans so that you can make the decision….Car Loan Interest Rates of Top Lenders.Car Loan LenderInterest Rate (in per annum)ICICI Bank9.30% – 12.85%HDFC Bank7.70% – 13.55%Bank of India7.35% – 7.95%IDBI Bank8.10% – 8.70%6 more rows

Can I get personal loan of 20 lakhs?

Take note of the personal loan eligibility criteria mentioned below before applying….Eligibility Criteria for Rs. 20 Lakh Personal Loan.Eligibility CriteriaRequirementsOccupationSalaried or self-employedAgeBetween 23 and 55 yearsNationalityResiding Indian citizenCIBIL score750 and above

Can I get home loan with 20000 salary?

Here taking a salary as ₹ 40k, & without any fixed monthly obligation, you can pay a maximum of ₹ 20,000 as EMI considering 50% FOIR. If the interest rate is 10% per annum, the loan amount eligibility can be arrived at ₹ 23,83,366 using a home loan eligibility calculator (assuming 3 household members).

How much car loan can I get on 20000 salary?

With the salary of Rs. 20,000 per month, you may become eligible for a maximum loan amount of Rs. 3 Lakhs. In case you do not qualify for a new car loan, you can also check your eligibility for a pre-owned car loan.

How much loan can I get if my salary is 18000?

Yes Bank allows a maximum FOIR of 0.45. Based on the information provided by the applicant, bank will calculate his eligibility using eligibility calculator. With a salary of ₹ 18,000, the maximum amount for which he is eligible is ₹ 3.77 Lakh. The interest he has to pay for this amount for 60 months is 10.50%.

How is loan amount calculated?

The mathematical formula for calculating EMIs is: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for the loan amount or principal, R is the interest rate per month [if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)], and N is the number of monthly instalments.

How is loan eligibility calculated for salary?

If you take a personal loan for a maximum of 5 years, then your loan amount will be ₹ 20,000*12*5 = ₹ 12,00,000. However, the multiplier is 20, then the loan amount will be ₹ 40,000*20 = ₹ 8,00,000. Therefore, the amount you will get on ₹ 40,000 salary is ₹ 8,00,000.

What is cc limit?

Cash credit limit or CC limit is a kind of current account with cheque book facility. … The cash credit limit loan in Delhi or CC limit is the maximum amount that you can overdraw from bank. However the drawing limit is specified by the bank. Borrower has to pay interest on utilized amount only, not on limit sanction.

What is the minimum salary for home loan?

₹10,000Home Loan Eligibility Criteria Age Limit for Salaried Individuals: 21 to 65 years . Age Limit for Self-Employed Individuals: 21 to 65 years. Minimum Salary: ₹10,000 p.m. Minimum business income: ₹2 lac p.a.

Can I get a loan of 1 lakh?

1 lakh personal loan from Bajaj Finserv. Enjoy instant approval and disbursal within only 24 hours, hassle-free application process and easy to meet eligibility criteria for instant financing. … 1 lakh amount. You can select a flexible repayment tenor ranging up to 60 months to repay the loan with ease.

What is the EMI for 20 lakhs home loan?

EMIs on a 20 lakh home loan for 30 yearsLoan AmountInterest rateEMIRs.20 lakh10%Rs.17,551

What is the EMI for 20 lakhs home loan in SBI?

SBI Home Loan EMI Calculator 2021Loan Amount10 Year Loan30 Year loan₹ 20 Lakh₹ 23,170₹ 13,239₹ 30 Lakh₹ 34,755₹ 19,858₹ 50 Lakh₹ 57,925₹ 33,097Apr 5, 2021

How much personal loan can I get if my salary is 40000?

Consider – how much personal loan can I get on a 20,000 salary? Sans any other financial obligations, you can expect to be eligible for a loan of Rs. 5,40,000….Multiplier Method.SalaryExpected Personal Loan AmountRs. 30,000Rs. 8.10 lakhsRs. 40,000Rs. 10.80 lakhsRs. 50,000Rs. 13.50 lakhsRs. 60,000Rs. 16.20 lakhs1 more row•Apr 8, 2020