Know how much should be your salary to take a home loan of 50 lakhs from SBI? Be sure to check before taking a loan.

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 50 lakhs from SBI, then how much should be your monthly salary? Let us know.

Everyone dreams of living in their own house but nowadays the price of property is skyrocketing. In such a situation, it is very difficult for common people to buy their own house. It takes a person's lifetime earnings to buy a house. If you also want to live in your own house and are unable to buy your house due to lack of money, then you can take the help of home loan. There are many people who take the help of home loan to buy a house.

Many people take home loan but later they are not able to pay the EMI of the home loan. This happens because they do not look at their salary while taking a home loan. You should always take a home loan by looking at your salary. The monthly EMI of your home loan should not be more than 30 percent of your salary. Today we will tell you what your monthly salary should be if you take a home loan of 50 lakhs from SBI. Let's know.

SBI Home Loan

Talking about the interest rates of home loans of India's largest government bank i.e. SBI, after the cut in repo rate, it starts from 8.25 percent. If you are taking a home loan of 50 lakhs from SBI, then your monthly EMI will be Rs 38,000. This is for a period of 30 years. In such a situation, your monthly salary must be around Rs 76,000. If your salary is less than this, then it can be very difficult for you to pay the EMI of the loan.