How to Calculate HDFC Home Loan EMI?

A home/housing loan is a safe and secured big-ticket loan that helps you attain the required financial assistance to buy a home in return for some collateral. HDFC home loan calculator is a pretty basic and straightforward tool that helps individuals assess eligibility while applying for a home loan and getting it sanctioned. But this is just a broad view of a more complicated process. In essence, the main function of the home loan is that it helps the buyer of any property or house, under construction or already built, with some immediate cash flow only to have it repaid at some interest rate and within a stipulated time. 

HDFC home loans are probably one of the best in the market that offers attractive interest rates with sufficient loan repayment tenure and enough options for you to decide on how you want to repay the loan. One may go for the EMI option, payback beforehand and so on. Of these, the EMI option is the most frequented, because it comes at a predetermined rate, annually, and is not subject to change.

If you wish to know more about HDFC home loan EMI eligibility criteria and how to calculate the same, then this article is for you.

What is EMI?

EMI stands for Equated Monthly Installment, meaning it entails payment of an equivalent sum of money in monthly instalments throughout the entire loan repayment tenure. Longer loan tenure and lower rates of interest undoubtedly reduce the EMI amount and hence makes it more affordable to one and all. There is also an additional option of paying back beforehand in case your EMI repayment method becomes too time-consuming or tedious. HDFC home loan calculator takes this definition of EMI into account while including it as one of the loan repayment options under the housing loan category.

What is a home loan EMI calculator? – HDFC

HDFC home loan EMI calculator thus helps you calculate the amount of EMI you’ll be charged for taking out sums of money at regular intervals to find your home purchase plans. The HDFC home loan calculator is truly one of the best in business. Since it offers almost accurate results regarding the amount of EMI you’ll end up paying. 

They require only three details i.e. your desired principal amount, the prevalent rate of interest and the period of repayment. Checking your dues in the online EMI calculator not only helps ease you into the home loan scheme or program but also notifies you accordingly whether it’s within your range of affordability.

How to Calculate HDFC Home Loan EMI?

EMI calculator usually uses the formula P x R x (1+R)^N / [(1+R)^N-1] where,

P = Principal loan amount, N = Loan tenure in months, R = Monthly interest rate.

  1. Principal – The higher the amount of principal, the higher will be your EMI requirements
  2. Loan tenure – The higher the loan tenure, the lower will be the monthly or period wise EMI requirements
  3. Interest rate – The higher the interest scaled up to the annual rate, the higher will be the EMI amount again.

How does HDFC EMI loan calculator help you in planning your housing purchases?

HDFC Home Loan EMI calculator is pretty transparent and accurate in its workings and results. By offering you a clear cut idea about the amount of money you’d be required to pay for your house purchase loan on EMI, they not only provide you with a range of your affordability but you can further compare it with the future rates of inflation and adjust your asset portfolio accordingly. It helps in the regular and up-to-date assessment of the home loan and your contribution requirements towards the future cost of the property. It is hence a foremost important step to check your loan eligibility and EMI amount before opting for the HDFC home loan scheme.

Key benefits of HDFC home loan EMI calculator

The main features or takeaways of this particular tool are –

  • They help in a calculative purchase of flats, row houses and bungalows from private developers in approved projects.
  • Approves home loan purchases from Development Authorities such as DDA, MHADA etc.
  • Also, take into consideration loans for construction or places that are held out on lease or freehold.

An amortization schedule shows you a period wise list of EMI required to pay against the outstanding balance at a prefixed rate of interest and within the given period. HDFC’s home loan calculator provides a complete break-up of the interest and principal amount.

So now that you know the benefits of the HDFC home loan EMI calculator, you don’t need to worry further about checking out your loan eligibility criteria and the rest. However, it is always advisable that you go through the bank’s terms and conditions carefully before investing.

Other Blogs:

Functionalities of the Payment Processor or Payment Gateway in your eCommerce Business


Sakshi is a Financial Advisor who helps people with investments and help them to get more out of their investment.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button