Your CTC Changed: Here Is How Your Loan Eligibility Changes With It
Your CTC Changed: Here Is How Your Loan Eligibility Changes With It
CTC Changed, Now What?
CTC Changed, Now What?
Your salary directly decides how much of a loan you can get.
Your salary directly decides how much of a loan you can get.
CTC Is Not A take-Home
CTC Is Not A take-Home
Banks care about in-hand salary, not your annual CTC figure.
Banks care about in-hand salary, not your annual CTC figure.
Hike Means More Borrowing
Hike Means More Borrowing
Higher take-home raises your maximum EMI capacity and loan amount.
Higher take-home raises your maximum EMI capacity and loan amount.
FOIR Is The Real Filter
FOIR Is The Real Filter
Lenders keep total EMIs within 40 – 50% of your net income.
Lenders keep total EMIs within 40 – 50% of your net income.
Fixed Pay Carries More Weight
Fixed Pay Carries More Weight
Bonuses and incentives are rarely counted fully toward loan eligibility.
Bonuses and incentives are rarely counted fully toward loan eligibility.
Reimbursements Do Not Count
Reimbursements Do Not Count
Fuel, food, and travel allowances are excluded from income calculation.
Fuel, food, and travel allowances are excluded from income calculation.
Salary Cut Changes Everything
Salary Cut Changes Everything
Lower income shrinks the eligible loan amount and increases lender scrutiny.
Lower income shrinks the eligible loan amount and increases lender scrutiny.
New Job, New Caution
New Job, New Caution
Banks prefer salary stability a few months at a new CTC helps.
Banks prefer salary stability a few months at a new CTC helps.
Wait Before You Apply
Wait Before You Apply
Apply only after two to three updated salary slips reflect the new income.
Apply only after two to three updated salary slips reflect the new income.
Clear Debt, Borrow Better
Clear Debt, Borrow Better
Reducing existing EMIs before applying improves your eligibility significantly.
Reducing existing EMIs before applying improves your eligibility significantly.
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