Getting a home loan on a low salary might seem challenging, but with the right planning and documents, it’s absolutely possible. Here’s a step-by-step explanation with important tips to help you secure your dream home.
✅ 1. Know Your Loan Eligibility
- Banks calculate eligibility based on income, age, liabilities, and CIBIL score.
- Generally, 40-50% of your monthly salary can go into EMI.
- On a ₹25,000/month salary, you can get a loan of approx ₹12–15 lakhs (with 15–20 years tenure).
✅ 2. Improve Your CIBIL Score
- A CIBIL score above 700 increases your chances.
- Pay credit card bills and existing EMIs on time.
- Avoid loan defaults or bounced cheques.
✅ 3. Opt for a Joint Loan
- Add a co-applicant like spouse or parent with income.
- This boosts your eligibility and total sanctioned amount.
✅ 4. Look for PMAY Subsidy (Pradhan Mantri Awas Yojana)
- For low-income families, PMAY offers interest subsidies on home loans.
- Under EWS or LIG category, salaried individuals get subsidy up to ₹2.67 lakh.
Read Also
प्रधानमंत्री आवास योजना (PMAY) के लाभ Benefits of PMAY Yojna 2025
Documentation and Stability:
Maintain proper documentation such as salary slips, bank statements, tax returns, and proof of employment. This not only establishes income but also showcases stability.
Loan Terms and EMIs:
Opt for a longer tenure to reduce monthly EMI amounts. Keep an eye on the interest rates, as lower rates help manage the repayment even on a low income.
People Also Ask ( FAQ )
हाँ, बैंक और NBFCs छोटे सैलरी वालों को भी होम लोन देते हैं। आपको इनकम, रोजगार की स्थिरता और क्रेडिट स्कोर दिखाना होगा।
होम लोन approval बढ़ाने के लिए सबसे पहले अपनी इनकम और एक्सपेंस का सही डॉक्यूमेंट दिखाना जरूरी है। अपने क्रेडिट स्कोर को अच्छा रखें और यह ध्यान रखें कि EMI आपकी सैलरी का 40–50% से ज्यादा न हो। अगर संभव हो, तो co-applicant या guarantor जोड़ें, जिससे बैंक को आपकी repayment क्षमता और भरोसा बढ़ेगा और approval आसानी से मिल सके।
लोन tenure लंबा रखें ताकि EMI कम हो। 📄 Pre-approval और बेहतर interest rate खोजें। 💰 Down payment ज्यादा करें और 👥 Co-applicant के साथ apply करें, ताकि low salary पर भी होम लोन आसानी से मिल सके।