The eligible loan amount depends on a host of other factors such as your occupation i.e. whether salaried or self-employed, your monthly expenditures, number of dependents, the interest rate charged by the bank, tenure of the loan, etc. Normally, lenders consider a certain percent of your net monthly income as available for payment of all the Emi’s. Nevertheless, there is no fixed percentage defined. It differs from one fiscal institute to another but typically 40% – 45% of net monthly income is considered as a comfortable ratio.
What FinZkart has in store
FinZkart offers you a Loan Eligibility Calculator that will give you a rough estimate of how much a lender will be able to finance you. All calculators and comparators are based on certain assumptions, which may not always be true in your case. Consulting your personal financial advisor before taking any decision is advisable. FinZkart renounces any responsibility for any decision taken based on these calculators and comparators.