HDFC Home Loan Calculator

HDFC offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business. There are some benefits of taking loan from HDFC:

• HDFC Home Loan EMI (or equated monthly instalment) is a fixed monthly instalment paid by borrowers to HDFC against the loan taken for repayment of your loan and payment of interest to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
• HDFC offers Home Loans with loan tenure upto 30 years, and the lowest EMI offered by the bank is ₹ 652 per lakh. The Lowest Rate of interest offered by HDFC on Home Loan is 6.80% and is one of the most popular housing loans in India.

EMI for different Home Loan amounts and tenures @ 6.80% interest rate

	Loan Tenure
Loan Amount (Rs.)	15 years	20 years	30 years
2,500,000	₹ 22,192	₹ 19,083	16,298
5,000,000	₹ 44,384	₹ 38,167	32,596
7,500,000	₹ 66,576	₹ 57,250	48,894
10,000,000	₹ 88,768	₹ 76,334	65,193

• As you can see in the above table, for various loan amounts taken at the lowest rate of interest, EMI differs by loan tenure at 15, 20 and 30. Your EMI is higher when you take a loan for a shorter tenure of 15 years and it is lower when you apply for a higher tenure of 30.
• Your EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, every month the proportion of interest payment and principal repaid within each EMI is different. With every EMI, the proportion of principal repayment in EMI keeps increasing and the interest component in EMI keeps reducing.

HDFC Housing Loan Calculator is used along with EMI calculator is used to calculate the total interest a borrower will pay on housing loan at different loan tenure as well as various levels of interest rates.

Home Loan EMI for ₹ 1 Lakh loan amount at lowest 6.80% interest rate offered by HDFC for different tenures

Calculated Results for HDFC Home Loan EMI	5 years	10 years	15 years	30 years
HDFC EMI for a loan amount ₹ 1 lakh at 6.80%	₹ 1,971	₹ 1,151	₹ 888	₹ 652
Total amount you pay back to the bank including principal and interest	₹ 1.18 Lakh	₹ 1.38 Lakh	₹ 1.60 Lakh	₹ 2.35 Lakh
Interest you have to pay during the loan tenure	₹ 18,260	₹ 38,120	₹ 59,840	₹ 1.35 Lakh

The above table shows the longer your loan tenure, lower is the EMI you pay on the loan. However, your total interest outgo is significantly higher in a long tenure loan. In the above example, if you take a ₹ 1 Lakh loan for a period of 30, you pay the lowest EMI of ₹ 652 . However, you pay an interest of ₹ 1,34,720 on a ₹ 1 Lakh loan.
In contrast, if you take a ₹ 1 Lakh loan from HDFC at the lowest loan rate offered for a period of 15 years, you pay a higher home loan EMI of ₹ 1,971 and pay an interest of only ₹ 18,260 which is less than half of what you paid in a 30 years loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses. This can be done using HDFC Home Loan Calculator.

HDFC Home Loan EMI calculator is a quick and straightforward solution to pre-plan and balance one's inflow and outflow of money so that one doesn’t run short of money at any point in time. It is an online device to compute the home loan EMI payments. It is easily accessible and can be availed without bearing any cost. It is user friendly and calculates the EMIs in a matter of seconds and thus helps in saving time. As the home loan generally involves a long tenure and high amount borrower needs to be extra cautious in the selection of home loan, it provides individual with the option to change the various factors of the Homel loan like tenure, rate of interest and loan amount; thus, helps one to analyse the best home loan available. The accuracy of the home loan calculator is 100%, and it can also be helpful in computing the interest amount and EMIs in case of prepayment.

• Purpose of Loan: HDFC house loan is taken to purchase, construct a home, renovate your existing home.
• Key Features
• Loan available for both salaried and self employed. Special rates for women borrowers.
• Borrowers within the age group of 24 and 60 years.
• Security: Mortgage of property you are planning to purchase, renovate or construct.
• Loan to Value Ratio of 90%.
• Loan Tenure can range from 5 to 30 years.
• Interest rates in the range of 6.80% to 8.20%.
• HDFC home loan EMI per lakh starts from ₹ 652. However, you can calculate your home loan EMI using HDFC home loan calculator 2021.
• Processing Fees: 0.25% of loan amount Minimum ₹ 5,000
• Special schemes: HDFC offers customised home loan interest rates and schemes for special category of borrowers including women borrowers, senior citizens, NRIs etc. Some of the special loan offers of HDFC are:
• Adjustable Rate Home Loan
• Plot loan TruFixed
• HDFC Home Improvement Loans
• HDFC Home Extension Loan
• HDFC Plot Loans
• HDFC Short Term Bridging Loan
• Rural Housing Finance
• HDFC Reach Home Loans
• HDFC Home Loan Top Up

• Loan amount – This is the amount borrowed by a borrower from HDFC. If you apply for a higher loan amount, your monthly EMI will be high. HDFC gives a minimum home loan of ₹ 5,00,000 upto an amount of ₹ 5,00,00,000.
• Interest rate - Interest rates is the rate charged by HDFC on your home loan. Higher interest rate increases your housing loan EMI which will increase the total cost of the loan. HDFC current home loan interest rate starts at 6.80%. Do complete market research and compare rates and calculate EMI online using HDFC home loan calculator before you apply for a home loan.
• Loan tenure – This is the period in which you can repay your home loan in HDFC. Longer loan tenure means lower housing loan EMI. Loan term can be determined by your age at the time of loan sanctioning and your retirement age. Generally, HDFC offers house loans for a maximum tenure of 30 years.

The amortization schedule breaks the month-wise calculation of principal and interest amount you will be paying in the form of your EMIs. In simple words, with each month’s EMI, the share of interest and the principal amount keeps changing, while the former keeps on reducing the later keep on increasing. That’s why if you decide to prepay your loan in the first few years you will find out that you have paid a very small proportion of the principal sum. Let us understand this better with the help of an illustration.

Illustration: How to read an amortization schedule

Suppose you borrow a Home Loan of ₹ 25 Lakh from HDFC for 5 years at an interest rate of 6.80%, the EMI calculated for this loan amount would be ₹ 49,267 and the total annual EMIs to be paid annually is ₹ 5,91,209. The HDFC Home Loan EMI schedule for 5 years is explained below in the table –

Amortization Schedule for a Home Loan of ₹ 25 Lakh over the 5 years

Year	Interest paid during the year	Principal repaid during the year	Total amount paid during the year (Interest + Principal)	Outstanding Principal
2021	₹ 1,44,705	₹ 3,97,236	₹ 5,41,942	₹ 21,02,764
Feb	₹ 14,167	₹ 35,101	₹ 49,267	₹ 24,64,899
Mar	₹ 13,968	₹ 35,300	₹ 49,267	₹ 24,29,599
Apr	₹ 13,768	₹ 35,500	₹ 49,267	₹ 23,94,099
May	₹ 13,567	₹ 35,701	₹ 49,267	₹ 23,58,398
Jun	₹ 13,364	₹ 35,903	₹ 49,267	₹ 23,22,495
Jul	₹ 13,161	₹ 36,107	₹ 49,267	₹ 22,86,389
Aug	₹ 12,956	₹ 36,311	₹ 49,267	₹ 22,50,077
Sep	₹ 12,750	₹ 36,517	₹ 49,267	₹ 22,13,560
Oct	₹ 12,544	₹ 36,724	₹ 49,267	₹ 21,76,837
Nov	₹ 12,335	₹ 36,932	₹ 49,267	₹ 21,39,905
Dec	₹ 12,126	₹ 37,141	₹ 49,267	₹ 21,02,763
2022	₹ 1,28,751	₹ 4,62,458	₹ 5,91,209	₹ 16,40,306
Jan	₹ 11,916	₹ 37,352	₹ 49,267	₹ 20,65,411
Feb	₹ 11,704	₹ 37,563	₹ 49,267	₹ 20,27,848
Mar	₹ 11,491	₹ 37,776	₹ 49,267	₹ 19,90,072
Apr	₹ 11,277	₹ 37,990	₹ 49,267	₹ 19,52,081
May	₹ 11,062	₹ 38,206	₹ 49,267	₹ 19,13,876
Jun	₹ 10,845	₹ 38,422	₹ 49,267	₹ 18,75,454
Jul	₹ 10,628	₹ 38,640	₹ 49,267	₹ 18,36,814
Aug	₹ 10,409	₹ 38,859	₹ 49,267	₹ 17,97,955
Sep	₹ 10,188	₹ 39,079	₹ 49,267	₹ 17,58,876
Oct	₹ 9,967	₹ 39,300	₹ 49,267	₹ 17,19,575
Nov	₹ 9,744	₹ 39,523	₹ 49,267	₹ 16,80,052
Dec	₹ 9,520	₹ 39,747	₹ 49,267	₹ 16,40,305
2023	₹ 96,305	₹ 4,94,904	₹ 5,91,209	₹ 11,45,401
Jan	₹ 9,295	₹ 39,972	₹ 49,267	₹ 16,00,333
Feb	₹ 9,069	₹ 40,199	₹ 49,267	₹ 15,60,134
Mar	₹ 8,841	₹ 40,427	₹ 49,267	₹ 15,19,707
Apr	₹ 8,612	₹ 40,656	₹ 49,267	₹ 14,79,051
May	₹ 8,381	₹ 40,886	₹ 49,267	₹ 14,38,165
Jun	₹ 8,150	₹ 41,118	₹ 49,267	₹ 13,97,047
Jul	₹ 7,917	₹ 41,351	₹ 49,267	₹ 13,55,697
Aug	₹ 7,682	₹ 41,585	₹ 49,267	₹ 13,14,111
Sep	₹ 7,447	₹ 41,821	₹ 49,267	₹ 12,72,291
Oct	₹ 7,210	₹ 42,058	₹ 49,267	₹ 12,30,233
Nov	₹ 6,971	₹ 42,296	₹ 49,267	₹ 11,87,937
Dec	₹ 6,732	₹ 42,536	₹ 49,267	₹ 11,45,401
2024	₹ 61,583	₹ 5,29,627	₹ 5,91,209	₹ 6,15,775
Jan	₹ 6,491	₹ 42,777	₹ 49,267	₹ 11,02,624
Feb	₹ 6,248	₹ 43,019	₹ 49,267	₹ 10,59,605
Mar	₹ 6,004	₹ 43,263	₹ 49,267	₹ 10,16,342
Apr	₹ 5,759	₹ 43,508	₹ 49,267	₹ 9,72,834
May	₹ 5,513	₹ 43,755	₹ 49,267	₹ 9,29,079
Jun	₹ 5,265	₹ 44,003	₹ 49,267	₹ 8,85,076
Jul	₹ 5,015	₹ 44,252	₹ 49,267	₹ 8,40,824
Aug	₹ 4,765	₹ 44,503	₹ 49,267	₹ 7,96,322
Sep	₹ 4,512	₹ 44,755	₹ 49,267	₹ 7,51,567
Oct	₹ 4,259	₹ 45,009	₹ 49,267	₹ 7,06,558
Nov	₹ 4,004	₹ 45,264	₹ 49,267	₹ 6,61,295
Dec	₹ 3,747	₹ 45,520	₹ 49,267	₹ 6,15,774
2025	₹ 24,424	₹ 5,66,785	₹ 5,91,209	₹ 48,990
Jan	₹ 3,489	₹ 45,778	₹ 49,267	₹ 5,69,996
Feb	₹ 3,230	₹ 46,037	₹ 49,267	₹ 5,23,959
Mar	₹ 2,969	₹ 46,298	₹ 49,267	₹ 4,77,661
Apr	₹ 2,707	₹ 46,561	₹ 49,267	₹ 4,31,100
May	₹ 2,443	₹ 46,825	₹ 49,267	₹ 3,84,275
Jun	₹ 2,178	₹ 47,090	₹ 49,267	₹ 3,37,185
Jul	₹ 1,911	₹ 47,357	₹ 49,267	₹ 2,89,829
Aug	₹ 1,642	₹ 47,625	₹ 49,267	₹ 2,42,204
Sep	₹ 1,372	₹ 47,895	₹ 49,267	₹ 1,94,309
Oct	₹ 1,101	₹ 48,166	₹ 49,267	₹ 1,46,142
Nov	₹ 828	₹ 48,439	₹ 49,267	₹ 97,703
Dec	₹ 554	₹ 48,714	₹ 49,267	₹ 48,989
2026	₹ 278	₹ 48,990	₹ 49,267	₹ 0
Jan	₹ 278	₹ 48,990	₹ 49,267	₹ 0

Each HDFC Home Loan EMI consists of both amounts of interest as well as the principal repaid. The interest component of EMI goes down while the principal component goes up in both cases while doing the calculation.

As you assess the amortization table, you will find that by the end of 1st year 73.51% of your EMI has been used to repay the principal amount. This means that the remaining 26.49% of the EMI went into interest payment. Thus, you end up paying only 17.38% of the loan amount of ₹ 25 Lakh after paying 12 EMIs in the first year to HDFC.

In year 5, the interest component of HDFC EMI is around 3.59%, while the principal component is around 96.41%. Upto 5 years, you have cumulatively repaid 100% of your total HDFC Home Loan.

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how HDFC Home Loan EMI calculator formulates EMI:

In above formula,

P = Loan amount. This can range from ₹ 5,00,000 to ₹ 5,00,00,000

r = Rate of interest per month. Current rate is 6.80%, which is linked to HDFC PLR

n = tenure in month. For HDFC, this can be 360 months

Typically, Home Loan EMIs constitute a large proportion of the household’s monthly expenditure to pay for a long period. Being a long tenure loan, the total interest you pay on a housing loan for 30 years can be more than the original loan amount you have borrowed from the bank. HDFC Home Loan Interest rate Calculator online can help you calculate the interest rate you are eligible for and also, the total interest you will pay during the loan duration. Some of factors that are used for interest rate calculation are:

• Occupation of the borrowers: Banks charge a slightly higher interest rate on home loans for self-employed as compared to that on loans for salaried borrowers.
• Amount of the Loan: HDFC offers loans of up to ₹ 30,00,000 at 6.80% and loans of above ₹ 30,00,000 at rates ranging from 6.80% to 6.95%.
• Type of loan opted for: The bank also offers different rates on its various loan schemes such as fixed rate home loan, floating rate home loan and home loan with overdraft facility etc.
• Existing bank customers: ICICI Bank may also offer lower interest to its existing bank account holders to maintain its relationship.

• Ascertain the amount you need to borrow: It is important that before approaching a bank for a loan, you need to estimate the amount of loan you need to borrow. Remember house loan is a long term loan, and hence it is advisable to minimise your loan amount to the extent possible. Limit your loan amount to the balance funds you need to fund the property after accounting for your available funds. Also, using the HDFC Housing Loan EMI calculator try to opt for the lowest tenure of loans as long tenure loans result in huge interest outgo.
• Review your current obligations: Before taking a loan. it is advisable to evaluate your current monthly expenses including any EMI obligations that you have on your current loans. The assessment will help you to estimate the amount of EMI you can pay comfortably after taking into account other obligations. Once you arrive at the EMI you can service, you can also decide on the right loan tenure.
  
  • Calculate your HDFC home loan eligibility: Your home loan eligibility is a function of value of the property and assessment of your repayment capacity based on your monthly income. HDFC provides a LTV upto 90% and expects the borrower to fund the remaining value of the property by their own money. For example, at its lowest LTV 90%, HDFC would expect its borrowers to provide margin money of 10%.
  • HDFC will also estimate your Fixed Income to Obligations Ratio to ascertain the maximum EMI you can service based on your current income and other monthly expenses. The bank applies a certain ratio to your income to estimate your monthly expenses and then adds your other EMI obligations to calculate your fixed obligations. The proportion of fixed income to your calculated fixed obligations gives your FOIR. HDFC lends up to a maximum FOIR of 0.65. Based on the FOIR, the bank will also estimate the maximum amount of EMI you can service as a borrower. HDFC's assessment may be different from your assessment. Any differences in assessment may require you to readjust your loan amount requirement. You may also consider paying back other running short term loans to improve your eligibility.

✅Will the HDFC home loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

Typically, the home loan EMI remains unchanged unless the customer requests for a change and the same is approved by HDFC subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI). In case the floating rate of interest on your home loan increases, the EMI will increase as per the reset frequency of your home loan. For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement. You can plan your EMIs with HDFC Home loan EMI calculator 2021.

✅Will home loan EMI change in case of prepayment?

HDFC allows prepayment at nil charges in case of floating rate home loans. When you make a prepayment, the outstanding balance of the principal amount on your home loan reduces. In this case, you may choose to either keep the EMI same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure same (that is paying lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option. After prepayment, you can calculate your home loan EMI using HDFC home loan calculator.

✅Why should I calculate HDFC loan EMI before taking a loan?

It is advised to calculate home loan EMI before taking a home loan. There are several benefits of calculating your HDFC housing loan EMI which can be done using HDFC housing loan EMI calculator as discussed below -

• In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and makes EMI easily affordable.
• If you already know the EMI you have to pay each month, then you can plan your spends accordingly
• Based on the EMI amount, you can opt for making a prepayment of your home loan in the future when you have surplus amount

✅What is the EMI for home loan in HDFC?

The EMI will vary based on loan amount, tenure, rate of interest and can be calculated using HDFC home loan calculator. Based on the lowest rate of 6.80% and maximum tenure of 30 years, the HDFC home loan EMI for different loan amount will be:

Loan amount	EMI
₹ 10 Lakh	₹ 6,519
₹ 30 Lakh	₹ 19,558
₹ 50 Lakh	₹ 32,596

You can compare home loan EMI for different loan amounts and tenure and then choose the loan amount based on your repayment capacity.

✅Can I use the same Housing payments calculator for an HDFC home loan?

The home loan EMI calculator works in the same manner for all banks. So, you can use the EMI calculator for HDFC home loan to calculate the monthly installments and know about. Besides, using the HDFC home loan calculator will save your time and help you analyze different offers easily.

✅How accurate is a HDFC Housing Loan EMI calculator?

Online HDFC housing loan calculators use technology to calculate the results and hence, if the data entered by you is correct the results should be 100% accurate.

✅Why should I calculate my HDFC home loan EMI in advance before taking a loan?

By calculating the EMI before availing the HDFC home finance will help you identify the amount you can pay each month as EMI. Plus, based on your budget, you can assess the maximum loan amount you can be eligible for and the applicable rate for it.

✅How to pay your HDFC Home loan EMI?

To pay the EMI of HDFC home loan, you can log in to your net banking account as provided during the time of availing the loan and pay using your savings account or debit/credit card.
You can also visit the branch and submit the cheque of your EMI.

✅How is SBI home loan EMI calculated?

The SBI Home loan EMI calculation formula is as follows:
E = [P x R x (1+R)^N]/[(1+R)^N-1] where
‘E’ means Equated monthly instalments
‘P’ means the principal amount
‘N’ is the number of monthly instalments
‘R’ is the interest rate per month.