How do I know the appropriate installment amount for my income? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

How do I know the appropriate installment amount for my income?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

Start with your net income, liabilities, and a safety margin for expenses and emergencies.

Steps

  1. Don't automatically use the maximum amount the bank allows.

  2. Your comfortable capacity may be less than the credit limit.

The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.

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