(Ques) I am a salaried person aged 30, no loans, married drawing around 8 lacks per annum, I am planning to buy a house and would need a loan any where between 20-25 lacks, would I be eligible for one? If so, what would be the EMI considering my age and other factors. Which banks do you recommend?

(Ans) You are eligible for a loan of Rs. 20 to 25 lacs. For a Rs. 25 lac loan at 11% for 15 years, the EMI would be Rs. 28,415. I would recommend that you take a floating rate loan from the bank where you receive your salary credit. They would be in a position to offer you the best deal.