On a ₹30,000 net monthly salary, you qualify for a home loan of roughly ₹17 lakh. That’s at the standard bank assumptions: 50% FOIR cap, 8.75% per annum interest, 20-year tenure, and no existing EMIs eating into your budget. Carrying a car loan or a personal loan already? Subtract that EMI first, the eligible amount drops fast.
The exact math for ₹30,000 salary
Banks cap your total EMI burden at 50% of net monthly income, called FOIR (Fixed Obligations to Income Ratio). On ₹30,000, that’s ₹15,000 available for EMI. Reverse-calculate that EMI into a loan amount at 8.75% over 20 years and you land at ₹17.0 lakh.
Eligible EMI = ₹30,000 × 50% = ₹15,000
Loan amount at 8.75% / 20 yrs = ₹15,000 × 113.16 = ₹16,97,388
| Existing EMI | Eligible EMI left | Home loan eligibility |
|---|---|---|
| ₹0 | ₹15,000 | ₹17.0 lakh |
| ₹3,000 | ₹12,000 | ₹13.6 lakh |
| ₹5,000 | ₹10,000 | ₹11.3 lakh |
| ₹8,000 | ₹7,000 | ₹7.9 lakh |
A ₹5,000/month bike or personal loan EMI cuts your home loan eligibility by nearly ₹5.7 lakh. Close small loans before applying if you can.
How tenure changes the number
| Tenure | EMI per lakh | Loan eligibility on ₹15,000 EMI |
|---|---|---|
| 15 years | ₹999 | ₹15.0 lakh |
| 20 years | ₹884 | ₹17.0 lakh |
| 25 years | ₹822 | ₹18.2 lakh |
| 30 years | ₹787 | ₹19.1 lakh |
A longer tenure lowers the EMI per lakh borrowed, so the same ₹15,000 budget stretches further. The trade-off is more total interest paid over the life of the loan.
Two ways to raise this number
Add a co-applicant. If a working spouse earns ₹25,000 and joins as co-borrower, combined eligible EMI goes from ₹15,000 to ₹27,500. That alone can push eligibility from ₹17 lakh to roughly ₹31 lakh.
Extend the tenure. Moving from 20 to 30 years on the same EMI budget adds about ₹2.1 lakh of eligibility, though the total interest paid rises meaningfully. Many buyers start at 25–30 years and prepay once income grows.
Check your own number
Enter your exact income, any existing EMIs, and your bank’s rate and tenure into the Home Loan Eligibility Calculator above to get a precise figure with a FOIR health indicator. For the full formula walkthrough and CIBIL/age/down-payment rules, see how much home loan you can get on your salary.
Frequently asked questions
How much home loan can I get on a ₹30,000 salary?
Around ₹17 lakh, assuming 50% FOIR, 8.75% interest, a 20-year tenure, and no existing EMIs. This drops if you’re already paying off a car, personal loan, or credit card EMI.
Is ₹30,000 salary enough for a home loan?
Yes, ₹30,000/month qualifies for a real loan amount at most banks, roughly ₹17 lakh at standard terms. It’s usually enough for an affordable-housing or smaller-city property, especially combined with a down payment and possibly a co-applicant.
What down payment do I need on a ₹17 lakh home loan?
For properties up to ₹30 lakh, banks typically finance up to 90% (LTV), so you’d need about 10% as down payment, roughly ₹1.9 lakh on a ₹19 lakh property, plus stamp duty and registration separately.
Sources
- FOIR cap of 50% as used by SBI, HDFC, ICICI, Axis and Kotak for salaried home loan applicants
- Standard home loan reducing-balance EMI formula, RBI-regulated lending norms