5. What are general components of Net Monthly Income to calculate loan eligibility?

The NMI is income from all sources of an salaried individual It Includes:

  1. 1. The NMI from the salary of applicant
  2. 2. The NMI from the salary of co-applicant/spouse
  3. 3. The income from other sources like Rent from the existing/proposed flat, Agricultural income, Income from tuitions, other business etc.

In case of self employed/professional the NMI is Annual Income after deduction of income tax divided by 12 (as per I-T return) plus other income as above.

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