Home Loan: How much should be your income to get a home loan of 50 lakhs from a government bank..

It is everyone's dream to have their own house, but the rising property prices in the present times have made it difficult to achieve. Often, buying your own house takes a person's entire life's earnings. If you also wish to live in your own house and are unable to do so due to financial constraints, then a home loan can be a good option. Many people take advantage of home loans to fulfill their dream of owning a house.

Most people take home loans, but later they are unable to pay the EMI of the home loan. This happens because they ignore their salary while taking a home loan. You should always take a home loan, keeping in mind your salary.

The monthly EMI of your home loan should not be more than 30 percent of your salary. Today, we will tell you that if you take a home loan of Rs 50 lakh from SBI, then what should be your monthly salary? Let's know.

SBI Home Loan-
SBI (State Bank of India) home loan interest rates now start from 8.25 percent after the cut in repo rate. If you take a home loan of Rs 50 lakh for 30 years, then your monthly EMI will be around Rs 38 thousand. To repay this EMI, your monthly salary should be at least Rs 76,000. If your salary is less than this, then it may be difficult for you to repay the EMI.

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