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Home Loan for ₹40,000 Salary
With a ₹40,000 net monthly salary and no other EMIs, you can typically get a home loan of about ₹23,04,617 at 8.5% over 20 years, with an EMI of up to ₹20,000 a month.
Eligible loan at each bank
EMI up to ₹20,000 over 20 years, at each bank's advertised starting rate (a best case).
| Bank | Starting rate | Eligible loan |
|---|---|---|
 Bank of MaharashtraHighest amount | 7.25% | ₹25,30,441 |
 Indian Bank | 7.35% | ₹25,11,155 |
 Canara Bank | 7.40% | ₹25,01,596 |
 Punjab National Bank | 7.45% | ₹24,92,092 |
 Central Bank of India | 7.45% | ₹24,92,092 |
 State Bank of India | 7.50% | ₹24,82,643 |
 Federal Bank | 7.50% | ₹24,82,643 |
 Kotak Mahindra Bank | 7.60% | ₹24,63,907 |
 IDFC FIRST Bank | 7.75% | ₹24,36,206 |
 Axis Bank | 8.00% | ₹23,91,086 |
 ICICI Bank | 8.50% | ₹23,04,617 |
 HDFC Bank | 8.50% | ₹23,04,617 |
Check your own numbers
How tenure changes your loan
| Tenure | Eligible loan at 8.5% | EMI |
|---|---|---|
| 15 years | ₹20,30,994 | ₹20,000 |
| 20 years | ₹23,04,617 | ₹20,000 |
| 25 years | ₹24,83,771 | ₹20,000 |
| 30 years | ₹26,01,073 | ₹20,000 |
If you already pay EMIs
| Existing EMIs | EMI left for a home loan | Eligible loan |
|---|---|---|
| None | ₹20,000 | ₹23,04,617 |
| ₹2,000 a month | ₹18,000 | ₹20,74,155 |
| ₹5,000 a month | ₹15,000 | ₹17,28,463 |
| ₹10,000 a month | ₹10,000 | ₹11,52,308 |
Frequently asked questions
How much home loan can I get on a ₹40,000 salary?
With a ₹40,000 net monthly salary and no other EMIs, banks typically allow an EMI of up to about ₹20,000. At 8.5% over 20 years that supports a home loan of about ₹23,04,617.
What price of home can I buy on a ₹40,000 salary?
About ₹25,60,685. Banks lend up to 90% of the property value at this loan size, so you would pay about ₹2,56,069 yourself, plus stamp duty and registration.
Which bank gives the highest home loan on a ₹40,000 salary?
At advertised starting rates, Bank of Maharashtra supports the most, about ₹25,30,441, because a lower rate means more loan for the same EMI. Your actual rate depends on your credit score.
How can I get a bigger loan on a ₹40,000 salary?
Choose a longer tenure (30 years supports about ₹26,01,073), add a co-applicant (with a partner earning the same, about ₹46,09,234), close small loans first, and keep your credit score above 750.
Home loan on other salaries
₹15,000 salary₹20,000 salary₹25,000 salary₹30,000 salary₹35,000 salary₹50,000 salary₹60,000 salary₹75,000 salary₹1 lakh salary₹1.5 lakh salary₹2 lakh salary