What is Rule of 40 percent EMI Rules | What percentage of salary should be EMI? | EMI Rule | #shorts
Channel: Indira Securities
Date: 12/11/2021

What percentage of salary should be EMI? 
IF YOU EARN 50,000 PER MONTH.THEN YOU SHOULD NOT HAVE EMIs OF MORE THAN 20,000.

This Rule is generally used by Finance companies to provide loans.

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What is the rule of EMI?
An equated monthly installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are applied to both interest and principal each month so that over a specified number of years, the loan is paid off in full.

1-How bank calculate Home Loan Amount.
2-What factors Bank consider for Home loan eligibility.
3-How we can increase the Home Loan Eligibility Amount. 
4-After getting Approval online without Fee, Property can be selected. 

How much EMI is safe?
The thumb rule that people should follow while buying a house is that their home loan EMI should not be more than 35-40% of monthly net income

How much personal loan can I get if my salary is 40000?
Consider - how much personal loan can I get on a 20,000 salary? Sans any other financial obligations, you can expect to be eligible for a loan of Rs. 5,40,000.

What is the minimum salary to get personal loan?
The minimum salary for a personal loan for salaried individuals is INR 25,000 per Month (for residents of Mumbai and Delhi) or INR 20,000 per Month (for all other locations).

How much loan I can get if my salary is 40000?
Multiplier Method
Salary Expected Personal Loan Amount
Rs. 20,000 Rs. 5.40 lakhs
Rs. 30,000 Rs. 8.10 lakhs
Rs. 40,000 Rs. 10.80 lakhs
Rs. 50,000 Rs. 13.50 lakhs

How is loan eligibility calculated for salary?
Your loan eligibility is calculated based on the ratio of your fixed obligations to your monthly income. If your income is less than ₹ 30,000, the maximum obligations cannot exceed 50% of your monthly income. However, for a higher income, the obligations to income ratio can go upto 65%.

What is the eligible salary to get personal loan?
Although, individuals with a minimum monthly income of Rs. 25,000 are preferred more by the banks. And for self-employed individuals, a gross annual income of minimum Rs. 5 lakh is usually needed to qualify for a personal loan.


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