SBI Home Loan: Salary Requirements for a Rs 40 Lakh Loan at 7.25% Interest

• SBI offers home loans starting at 7.25% interest, benefiting from RBI's repo rate cuts.
• To secure a Rs 40 lakh home loan for 30 years at 7.25% interest, a minimum monthly salary of Rs 55,000 is required.
• The estimated monthly EMI for a Rs 40 lakh loan under these terms is approximately Rs 27,500.
• Applicants should not have other active loans to meet the salary criteria.
• A good credit score is crucial for loan approval and can help negotiate better interest rates.

Why It Matters: A Rs 40 lakh SBI home loan at 7.25% for 30 years requires a Rs 55,000 monthly salary and good credit.