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What if rates rise?
See your EMI and your safety margin.
A rule of thumb: EMIs up to 40% of income are comfortable, 40 to 50% tight, over 50% risky. Only loans linked to the repo rate move quickly.
Common questions
How much does the EMI rise if rates go up?
On a 20 year loan, about 7 to 8 percent for each 1 point. Most floating loans keep the EMI and stretch the tenure instead, unless you ask otherwise.
What share of income should EMIs be?
Many lenders use 40 to 50 percent of net income as the ceiling. Staying under about 35 percent leaves room for rate rises.