Home loan on a ₹1,50,000 monthly salary
Banks set your loan limit mainly from your monthly income. They usually let all your EMIs together take up to 50% of your take-home pay. This share is called FOIR, the fixed obligation to income ratio. On a take-home salary of ₹1,50,000 a month, that means a maximum EMI of ₹75,000. At 7.4% for 20 years, that supports a loan of about ₹93.81 L. A safer rule is to keep your EMI under 40% of take-home pay, which leaves room for bills and savings. At 40%, your EMI would be ₹60,000 and the loan about ₹75.05 L. The table below shows both limits for each tenure. Use the calculator above to change the rate, add existing EMIs and see what you could borrow. Your bank sets the final amount after checking your credit score and job.
- ₹75,152
- Principal amount
- ₹94,00,000
- Total interest
- ₹86,36,486
- Total amount
- ₹1,80,36,486
You'll pay ₹86.36 L interest on a ₹94 L loan.
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You could borrow up to
₹62.54 L
Banks usually cap all EMIs at about half your take-home pay.
What if…
One prepayment or a 0.5% rate change can move your interest by lakhs. Try one.
· Add a one-time payment or an extra monthly amount to see the saving.
Worth knowing
For every ₹1 you borrow, you pay back ₹0.92 in interest.
In year 12, more of your EMI starts going to the loan than to interest.
Pay one extra EMI a year and you save ₹14.67 L and finish 3 years early.
Banks use the standard reducing-balance formula:
EMI = P × r × (1+r)n / ((1+r)n − 1)
P is the loan amount, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of months.
With your numbers
- P = ₹94,00,000
- r = 7.4% ÷ 12 ÷ 100 = 0.006167
- n = 240 months
- EMI = ₹75,152
Each month interest is charged on what you still owe. That is why early EMIs are mostly interest.
Share this calculation
| Tenure | Bank limit (50% of pay) | Comfortable (40% of pay) |
|---|---|---|
| 10 years | ₹63.46 L | ₹50.77 L |
| 15 years | ₹81.4 L | ₹65.12 L |
| 20 years | ₹93.81 L | ₹75.05 L |
| 25 years | ₹1.02 Cr | ₹81.91 L |
| 30 years | ₹1.08 Cr | ₹86.66 L |
Common questions
- How much home loan can I get on a ₹1,50,000 salary?
- About ₹93.81 L at 7.4% for 20 years, if you have no other EMIs and the bank allows 50% FOIR. Your credit score and employer also matter.
- What is FOIR?
- FOIR is the share of your monthly take-home pay that goes to loan EMIs. Most banks cap it near 50%.
- Is it wise to borrow the full amount?
- Not always. A common rule is to keep your EMI under 40% of take-home pay. On ₹1,50,000 that is ₹60,000, which supports about ₹75.05 L.
- How can I get a bigger loan?
- Clear other EMIs first, add a co-applicant with income, choose a longer tenure or improve your credit score. A longer tenure raises the loan you qualify for but costs more interest.