Buying a home is a dream for many Indians. But if your monthly salary is between ₹15,000 and ₹30,000, you may wonder whether banks will give you a home loan or not. The good news is—yes, it is possible, if you meet certain conditions.
In this article, we will explain home loan eligibility for low to mid-income salaried people, and also share a real example of a common Indian family.
Can You Get a Home Loan on ₹15,000–₹30,000 Salary?
Banks and housing finance companies in India mainly look at:
Your monthly income
Your existing EMIs
Your job stability
Your credit score
Your age
Most banks allow your home loan EMI to be up to 40%–50% of your monthly salary.
Home Loan Eligibility Based on Salary
Monthly Salary Approx EMI Allowed Approx Loan Amount*
₹15,000 ₹6,000 ₹8–10 lakh
₹20,000 ₹8,000 ₹12–15 lakh
₹25,000 ₹10,000 ₹18–20 lakh
₹30,000 ₹12,000 ₹22–25 lakh
*Loan amount depends on interest rate and loan tenure (20–30 years).
Real Example: Common Indian Family
Ramesh Das, a private school clerk in Assam, earns ₹22,000 per month.
His wife is a homemaker, and he has no existing loans.
His Details:
Monthly salary: ₹22,000
Credit score: 720
Job experience: 6 years
Age: 32 years
Bank Calculation:
Allowed EMI (45%): ₹9,900
Loan tenure: 25 years
Interest rate: 8.75%
Result:
👉 Home loan approved: ₹14.5 lakh
Ramesh bought a small 1BHK house in a semi-urban area. He also received PMAY subsidy, which reduced his overall loan burden.
Minimum Requirements to Get Home Loan at Low Salary
To improve your eligibility, you should have:
✔ Stable job (minimum 2 years)
✔ Credit score above 700
✔ Low or no existing EMI
✔ Age below 45 years
✔ Salary account with a bank
Government Support: PMAY Subsidy
If your income is low, you may qualify for Pradhan Mantri Awas Yojana (PMAY).
Benefits:
Interest subsidy up to ₹2.67 lakh
Lower monthly EMI
Higher loan affordability
This scheme is very helpful for people earning ₹15,000–₹30,000 per month.
How to Increase Home Loan Eligibility on ₹15k–₹30k Salary
Apply jointly with spouse
Choose longer tenure (25–30 years)
Clear existing personal loans or credit cards
Maintain a good credit score
Opt for a smaller city or suburban property
Final Words
Getting a home loan on a salary of ₹15,000–₹30,000 is not impossible. With proper planning, stable income, and government schemes like PMAY, many common Indian families are already living their dream of owning a home.
If you are disciplined with money and choose the right property, your salary does not limit your dream—your planning does.
