What is an ideal home loan EMI to net take-home loan salary ratio?
Unfortunately, there is no magic number. As with most things with personal finance, the answer will vary across borrower families. Yes, the banks cap fixed obligations to income ratio (FOIR) at 40-50% as a safe bet and to ensure that you don’t overborrow. Fixed obligation to income ratio (FOIR) = Total EMI outgo including the… Continue Reading