HDFC Home Loan EMI Calculator

HDFC Home Loan - Lowest EMI is Rs. 815 per lakh

Last Updated 10th Dec 2016
  • Get monthly EMI as low as Rs. 815 per lakh with HDFC now offering home loans with loan tenure upto 30 years.
  • Lowest home loan interest rate currently offered by HDFC is 9.15%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,023 for a 15 year loan and Rs. 909 for a 20 year loan. Check the EMI for other tenures using the HDFC home loan EMI calculator on this page.

Home Loan EMI Calculator HDFC

HDFC Home Loan EMI Calculator
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HDFC Home Loan EMI

  • Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to HDFC against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With HDFC offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 815 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by HDFC on Home Loan is 9.15%.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 25,58022,73520,386
    5,000,000 51,16045,47040,772
    7,500,000 76,74168,20561,158
    10,000,000 102,32190,94081,544
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

HDFC Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how HDFC Home Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 1,500,000 to Rs. 100,000,000
r = Rate of interest per month. Current rate is 9.15%, which is linked to HDFC PLR
n = tenure in month. For HDFC, this can be 360 months

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, HDFC will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by HDFC, the bank may increase your EMI amount.
  • For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement.

Will home loan EMI change in case of prepayment?

  • HDFC allows prepayment at nil charges or penalty in case of floating rate home loans.
  • When you make a prepayment, the outstanding principal amount on your home loan reduces. In this case, you may choose to either keep the EMI the same and reduce the loan tenure (that is pay off the loan faster) or reduce the EMI and keep the loan tenure the same (that is pay 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.
HDFC Home Loan EMI Calculator News - Dec 2016
05th Nov 16 HDFC reduces home loan rates to 9.15 percent
HDFC home loan rates have been reduced by 0.15 percent for new customers. The rates are now 9.15 percent for female borrowers and 9.20% for male borrowers. The new home loan rates will be effective from 4th November, 2016. The floating rate loans would be benchmarked to HDFC PLR which is currently 16.30%.
03rd Nov 16 HDFC ARYA has extended its login date till 30th November, 2016
HDFC has launched HDFC ARYA scheme in September to benefit government employees. HDFC has now extended its login date from 31st October, 2016 to 30th November, 2016 subject to first disbursement by 31st January, 2017. Now, central government and defence employees can get the benefit of home loan at 9.30 per cent rate for one more month.
07th Oct 16 HDFC plans to raise 1500 cr in debt to augment capital
HDFC Ltd will raise 1500 crore by issuing debt securities on a private placement basis. The secured non convertible debentures will carry the coupon rate of 7.5 costs per annum. HDFC will start issuing debt securities on October 13 and will end on 12th October 2018.
10th Aug 16 HDFC Ltd. customers can directly access their CIBIL Score and Report on its website
HDFC has implemented the CIBIL Consumer Connect solution which will facilitate customers to purchase their CIBIL Score and Report directly from HDFC website. This move will bring transparency in the loan appraisal process as CIBIL report is an important parameter based on which banks and HFCs decide the eligibility of borrowers. The move is expected to improve customer satisfaction and increase awareness on credit discipline.
22nd Nov 15 HDFC Realty unveils online home auctions
HDFC has tied up with a website ibidmyhome.com which allows customers to bid for houses at prices they are comfortable with.
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