The formula to calculate simple interest is: **principal x rate x time = interest** (with time being the number of days borrowed divided by the number of days in a year). If you borrow a $2,500.00 loan with an interest rate of 5.00% for a period of one year, the interest you owe will be $125.00 ($2,500.00 x .

## Secondly, how do banks calculate your borrowing capacity?

Lenders calculate your borrowing capacity **using an assessment rate to examine your application**. They have their own assessment rate and it’s based on their appetite for risk, which is why your borrowing capacity may vary from one lender to another.

**PMT(17%/12,2*12,5400)**

The rate argument is the interest rate per period for the loan. For example, in this formula the 17% annual interest rate is divided by 12, the number of months in a year. The NPER argument of 2*12 is the total number of payment periods for the loan. The PV or present value argument is 5400.

## In this way, how do I calculate loan to value?

Understanding the Loan-to-Value (LTV) Ratio

An LTV ratio is **calculated by dividing the amount borrowed by the appraised value of the property, expressed as a percentage**. For example, if you buy a home appraised at $100,000 for its appraised value, and make a $10,000 down payment, you will borrow $90,000.

## How do you solve a loan problem?

**In the pages that follow, we outline some strategies that can help you manage your debt situation without stressing your wallet.**

- Repay high interest loans first. …
- Increase repayments with rise in income. …
- Use windfall gains to repay costly debt. …
- Convert credit card dues to EMIs. …
- Use existing investments to repay debt.

## How much can I borrow with 50k deposit?

If you’ve been able to save a large deposit to buy a home, a lender will likely lend you more. However, lenders will generally **not let you borrow more than 90% of a property’s value**. For example, if a property costs $500,000 and you have a $50,000 the deposit, the lender will only lend you $450,000.

## How much loan can I get on 17000 salary?

With a salary of ₹ 17,000, the maximum amount he is eligible for is **₹ 3.87 Lakh**. The interest he has to pay for this amount for 48 months is 11.99%.

## How much loan can I get on 18000 salary?

With a salary of ₹ 18,000, the maximum amount he is eligible for is **₹ 3.75 Lakh**. The interest he has to pay for this amount for 60 months is 10.70%.

## How much loan can I get on 35000 salary?

Here taking a salary as ₹ 35k, & without any fixed monthly obligation, you can pay a maximum of ₹ 17,500 as EMI considering 50% FOIR. If the interest rate is 10% per annum, the loan amount eligibility can be arrived at **₹ 20,46,586** using a home loan eligibility calculator (assuming 3 household members).

## How much loan can I get on 60000 salary?

However, if you are deliberating on the loan amount with how much loan I can get on a 60,000 salary, the approved amount should be close to

Salary | Expected Personal Loan Amount |
---|---|

Rs. 40,000 | Rs. 10.80 lakhs |

Rs. 50,000 | Rs. 13.50 lakhs |

Rs. 60,000 | Rs. 16.20 lakhs |