How much loan can elderly citizen get from bank?- Property Hotline
August 12, 2016
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3:11Now PlayingHow much loan can elderly citizen get from bank?- Property Hotline
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as posted by the channelExpert: Kartik Jhaveri, Founder & Director of Transcend Consulting India Pvt Ltd?.
Question: I am 50 years old. I can pay Rs1 lakh in instalments every month. How much loan can I get from a bank?
Answer: The general rule of thumb is that for every Rs1 lakh the EMI is Rs1000. Hence if you can service an EMI of Rs1 lakh, the home loan would be about Rs1 crore. However the lending institution will carry out due diligence to determine your home loan eligibility.
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