Home Loan

How Much Home Loan Can I Get On 75K Salary?


Numerous factors determine the home loan amount that you can get on your salary in India. These factors include age, income, current debts, credit score, and employment history. Lenders will also consider the type of property you are looking to purchase as well as the location of the property.

To know how much housing loans you can get on your salary in India, it is best to speak to a mortgage specialist. They will be able to assess your situation and provide you with an accurate estimate.

Generally, the higher your income and the lower your debts, the more home loan you can get. Read on to learn more about how much a home loan you can get on a 75k salary.

How Much Home Loan Can I Get On 75k Salary?

Assuming you take a home loan for the first time in India, your maximum loan eligibility will be calculated based on your income and repayment capacity. The general rule is that your monthly EMIs (Equated Monthly Installments) should not exceed 35%-40% of your monthly income.

On a salary of INR 75,000 per month, you can get a home loan of up to INR 55.93 Lakh. This amount considers that banks typically finance up to 80% of the property value. So, if you are looking at a property worth INR 50 lakhs, you would need to bring in 20% as a down payment, which would come to INR 10 lakhs.

Your EMI will depend on the bank’s interest rate and the housing loan’s tenure. For example, at an interest rate of 9%, your EMI for a 30-year tenure loan would be approximately INR 28,500 per month. reduce your EMI burden by choosing a longer tenure loan or opt for a variable house loan interest rate instead of a fixed rate if market rates fall during your loan repayment period.

Loan Types in India

Housing Loan: A housing loan is a loan to purchase a property or land. The interest rate on a housing loan is usually lower than that of a personal loan or credit card.

Mortgage Loan: A mortgage loan is a secured loan against a property. The interest rate on a mortgage loan is usually lower than that of a personal loan or credit card.

Home Equity Loan: A home equity loan is a secured loan against the equity in your home. The interest rate on a home equity loan is usually lower than that of a personal loan or credit card.

Personal Loan: A personal loan can be used for any purpose, including purchasing a property or land. The interest rate on a personal loan is usually higher than that of a housing or mortgage loan but lower than that of a credit card.

Top-up Loan: Borrowers who have previously obtained a mortgage loan from the same lender are eligible to apply for a top-up loan, an extra loan of the same kind. It is common for the house loan interest rate on top-up loans to be lower than the rate on personal or unsecured loans.

How to Qualify for a Home Loan in India

Assuming you’re salaried, to qualify for housing loans in India, most banks would require the following:

  • A minimum income of Rs.25,000-30,000 per month
  • A good credit score
  • A stable employment history of at least 2-3 years
  • Age between 21 and 65 years
  • Indian residency
  • Repayment capacity as determined by the bank’s internal criteria

(Note that these are general guidelines, and each bank has specific eligibility criteria, which may differ from others.)

Interest Rate on a Home Loan In India

The interest rate on housing loans in India depends on numerous factors, such as the type of loan, the tenure of the loan, the LTV ratio, etc.

India’s house loan interest rate starts at around 6.65% per annum. However, this can differ based on the type of home loan, the lender and other factors. Generally, the interest rate is higher for loans with shorter repayment tenure and vice versa. 

For instance, SBI’s house loan interest rates start at 8.55% per annum for loans up to Rs 30 lakhs with a tenure of up to 30 years.

India Home Loan Down Payment

Assuming you are taking a home loan for the first time in India, the following down payments would be applicable –

  • For loans up to Rs.30 lakhs for 10 years- 7.6% of the loan amount
  • For loans between Rs.30 lakhs to Rs.75 lakhs – 20% of the loan amount
  • For loans above Rs.75 lakhs – 25% of the loan amount
  • Hence, if you take housing loans of Rs.50 lakhs, your down payment would be Rs.5 lakhs (10% of the loan amount). Similarly, for a loan amount of Rs.1 crore, your down payment would be Rs.25 lakhs (25% of the loan amount).

Home Loan Lenders in India: How to Choose!

There are many factors to consider when choosing a lender, but some of the most important include the following:

1. Interest rates: One of the most important factors when choosing a lender. Make sure to compare interest rates from multiple lenders before making your decision.

2. Loan terms: Another important factor to consider is the loan term. Make sure to choose a loan term that you are comfortable with and that fits your financial needs.

3. Charges: Some lenders may charge fees you are unaware of. Read the fine print and understand the fees before signing on with a lender.

4. Customer service: When you are taking out a loan, you want to ensure you can get help. Choose a lender with good customer service so that you can get help when needed.


If you’re looking to take out a home loan in India, it’s important to know how much you can borrow. This will depend on your income and other factors. Typically, banks will lend you up to four times your annual salary. 

However, this is just a general guide. The actual amount you can borrow will depend on your circumstances. The lender will consider factors such as your credit history and employment status.

Visit Piramal Finance, where you can find similar articles and start exploring housing loans in India with a salary of 75K. It’s always best to speak to our financial advisor before taking out a home loan with a house loan interest rate. They’ll be able to help you understand your options and find a loan that’s right for you.