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Home loan EMI: How much salary do you need for a ₹50 lakh, ₹75 lakh or ₹1 crore home?
Mint 1d ago·16 Oct 2026, 7:26 am
A home loan is a major financial commitment, and understanding your repayment capacity is crucial before applying. Lenders typically allow borrowers to spend up to 50-60% of their monthly net income on EMIs, including other debts. For a ₹50 lakh loan, you generally need a monthly take-home salary of ₹40,000 to ₹50,000, while a ₹1 crore loan would require a much higher income of ₹80,000 to ₹1 lakh. This calculation helps ensure you do not overextend your finances.
Beyond the EMI, buyers must account for a significant down payment, usually 10-20% of the property value, along with registration and stamp duty charges. These upfront costs can be substantial. It is also important to consider the interest rate, which determines your monthly outflow. Checking your eligibility beforehand helps you shortlist affordable properties and avoid financial stress in the long run.
What to watch next: Keep an eye on the Reserve Bank of India's repo rate decisions, as they directly impact home loan interest rates. Additionally, monitor your credit score, as a higher score can help you secure a lower interest rate and reduce your total borrowing cost.
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