Ms. Ritika HR Manager with US based consultancy firm is drawing salary of Rs. 75000 p.m.

Se has finalised purchase of ready built house costing Rs. 40 Lacs.

She has decided to raise Housing Loan of Rs. 30 Lacs and the balance amount is avaialble with her as savings.
The details of her salary as per last month October 2021 Salary slip is as under:

1 Basic 40000
2 Dearness Allowance 15000
3 House Rent Allowance 6000
4 Conveyance Allowance 7000
5 Special Allowance 7000
Total Earnings ( A ) 75000

Deductions

1 Provident Fund 3,333

4 Income Tax 3,000
3 Other Deductions (if any) 0

Total Deduction 6,333

Net Salary 68667

Date of joining the Company 15.10.2011

date of birth 26.09.1986
Date of superannuation 30.09.2046

Salary details for FY 2019-20 as per Form 16

1 Basic 480000
2 Dearness Allowance 180000
3 House Rent Allowance 72000
4 Conveyance Allowance 72000
5 Special Allowance 24000
Total Earnings ( A ) 828000

Deductions

Provident Fund 40,000

Total Deduction 40,000

Find her eligibilty for Housing Loan & EMI for repayment period in 240 EMIs when the interest rate is 8% p.a.
Solution

Annual gross salary as per last year ITR 828000

HL limit @5 years gross salary 4140000
loan Requested 3000000
Repayment period (No. of EMI) 240
Proposed monthly installment EMI -25093.20
Present Monthly Gross salary 68667
Present Deductions 6,333
Deductions including EMI 31426.54
Deductions as percentage of gross salary 41.90%
Celing as per scheme 50%

She is eligible to take the proposed Housing loan

erest rate is 8% p.a.
Housing Loan

S No Risk Parameters
Age of applicant with major share of income/Age of
1 main promotor of company (in case of loan against
future lease rental)

Status of Current Residence (Present address for

2 communication)/Status of current residence of promotor
of company (in case of loan against future lease rentals)

3 Distance of proposed property from the financing Branch

4 Occupation
 Work experience/Number of years in
5
business/profession

Spouse's source of Income / source of income of the

6 spouse of the promotor of the company in case of loan
against future lease rentals

7 Repayment Period

Ratio of Net worth (verifiable sources only) to loan

8
amount

9 Loan to value* Ratio

Ratio of Guarantor’s networth or networth of the

10 promotor of the company in case of loan against future
lease rentals to Loan Amount
11 Relationship with PNB (Deposit Account)

Either check-off facility OR Income routed through

12
Branches

13 Purpose of the Loan

Ratio of present Surplus income** (All sources of

14
income) to total EMI
15 Credit History

Total Score

Minimum score required

Attributes

Up to 30 years 4
Above 30 years to 50 years- 3
Above 50 years to 60 years 2
Above 60 years 1
Owned by Self/Spouse 4
Owned by parents of Self/Spouse 3

Leased by the Company/Government 2

Rented by Self/Spouse 1
Others 0
Within city municipality limits in the same city/town by RABs
4
Within city municipality limits in the same city/town/other
centre up to 10 Km by branches other than RABs

3
Within city municipality limits in the same city/town/other
centre between 10 Km to 20 Km by branches other than
RABs

2
Within city municipality limits in the same city/town/other
centre above 20 Km by branches other than RABs 1
Within fast growing neighboring Satellite towns of metros
only or Suburbs of metros only 0
If the proposed property is located at different city/centre
but the loan is sanctioned by the branch/RAB near to the
borrower’s present place of work/posting/residence
The proposed property is located at different city/centre and
the loan is not sanctioned by the branch / RAB near to the
borrower’s present place of work /posting/residence
Any Other
Salaried - Govt service 4
Salaried - PSU 4
Salaried - Blue Chip Cos. 4
Salaried - Private 3
Professional - CA 3
Professional - Engineer/architect 3
Professional - Lawyer 3
Professional - MBBS/MD Doctor
Businessman/Self employed
Small & Marginal farmers
Other agriculturists
Others
Above 15 years
4
Above 10 years upto 15 years
3
Above 3 years up to 10 Years 2
Up to 3 years
1
IT assessee and tax paid during last year

4
IT assesssee but no tax paid 3
Earns but no formal source 2
No source of income 1
Above 20 years upto 25 years
0
Above 15 years upto 20 years
1
Above 10 years upto 15 years
2
Above 5 years upto 10 years 3
Upto 5 years
4
More than 200%
4
More than 100% and up to 200% 3
More than 50% and up to 100%
2
Up to 50%
1
Up to 0.20
More than 0.20 and up to 0.49
More than 0.49 and upto 0.75
More than 0.75

More than 200%

More than 100% and upto 200%
More than 50% and up to 100%
Up to 50% / Guarantor waived by the competent authority
Guarantee not required as per scheme
More than 10 years
More than 5 years and up to 10 years

More than 2 years and up to 5 years

Up to 2 years
No previous relationship

Check off facility provided by the employer/ Tripartite

agreement between the lessor, lessee and the bank in case
of loan against future lease rentals
Salary routed through the account with us and advanced
cheques of all EMIs obtained/an irrevocable power of
attorney in favour of the bank in case of loan against future
lease rentals
Only advance cheques of EMIs provided OR ECS/Standing
mandate along with PDCs/a letter of undertaking from the
borrower addressed to the lessee for paying rent in case of
loan against future lease rentals

None of above

Construction of new house

Repair/Renovation of existing house
Purchase of readymade flats/house X
Purchase of flats/house yet to be constructed
Purchase of land and construction thereof
Loan against IP
Business in case of loan against future lease rentals
Personal purpose in case of loan against future lease
rentals
5 times and above

4
More than or equal to 4 but less than 5 times

3
More than or equal to 3 but less than 4 times
2
More than or equal to 2 but less than 3 times
1
Less than 2 times
0
CIBIL score between 800 and 900 or No CIBIL data
available but availed Earlier loan/loans and repaid all the
installments and/interest within the stipulated period 4
CIBIL score between 720 and 799 or No CIBIL data
available but availed Earlier loan/loans from us/any bank
and account remained occasionally (one to two
times)irregular but repaid all the installments within the
stipulated period 3
CIBIL score between 660 and 719 or No CIBIL data
available but availed Earlier loan/loans from us/any bank
and account remained irregular more than 2 times but the
account was not NPA and the account was fully adjusted
without any loss to the bank 2
CIBIL score between 600 and 659 or No CIBIL data
available and Account became NPA but fully adjusted
without any loss 1
No CIBIL data available and availed no loan/loans from any
financial institution 1
CIBIL score below 600 or no CIBIL data but availed loan
from the banks/institutions and and account was NPA and
adjusted through compromise/write-off 0