Required income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 September 2013
I decided to take a bank loan of Rs. 15,30,000/- for a truck; the loan manager said me to provide them last two years IT return. As per my return my monthly income is Rs.22,000/-. So sir, I want to know only one thing that am I eligible for a loan of Rs.15,30,000/- with this monthly income; and if not then how much monthly income required to get a loan of Rs.15,30,000/- for 60 months?
Any suggestion in this regard will great help for me.
Thanks in advance.
Any suggestion in this regard will great help for me.
Thanks in advance.
23 September 2013
if you take a loan amount to rs. 15 30 000/- then your principle repayment must be at least 306000 (5 year repay) in addition to that interest so your income must be 6 lakh per annum.
and requirement is being decided by bank's criteria..
and requirement is being decided by bank's criteria..
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