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  • HDFC Home Loan EMI Calculator

    Updated as per Latest Rates on 24 Jun 2019

    Compute the equated monthly instalments (EMI) payable towards your housing loan using the HDFC Home Loan EMI Calculator. The minimum EMI per lakh stands at Rs.776. 


    Enter the required details such as the loan amount, rate of interest, loan tenure and processing fee on the BankBazaar Home Loan EMI Calculator and click on ‘Calculate’. You will be provided a break-up of total amount payable along with the total interest due and the EMIs payable during the tenure. 

    Calculate Your HDFC Home Loan Monthly Repayment 

    The table below offers an illustration of EMIs for different loan amounts and tenures: 

    Rs.10 Lakh  Rs.20 Lakh  Rs.40 Lakh  Rs.50 Lakh 
    10 years  Rs.12,614  Rs.25,227  Rs.50,454  Rs.63,068 
    20 years  Rs.8,933  Rs.17.866  Rs.35,732  Rs.44,665 
    30 years  Rs.7,974  Rs.15,949  Rs.31,898  Rs.39,872 

    Let us assume that you are applying for the HDFC Home Loan of Rs.10 lakh, Rs.20 lakh, Rs.40 lakh or Rs.50 lakh at an interest rate of 8.90% p.a. Make sure that you know the latest HDFC home loan interest rates before you enter the particulars of the loan. 

    HDFC Home Loan EMI Calculator

    Enter the required details such as the loan amount, rate of interest, loan tenure and processing fee on the BankBazaar Home Loan EMI Calculator and click on ‘Calculate’. You will be provided break-up of total amount payable along with the total interest due and the EMIs payable during the tenure.

    What is amortisation?

    This is a question many people ask when taking a loan. Amortisation is the way in which the lender expects you to repay the loan you take. It shows you the interest and principal components of each EMI, helping you understand how the prepayment process works.

    Home Loan EMI Calculator Formula: The formula used for calculation of Home Loan EMI is mentioned below:

    E = P . r . ( 1 + r ) n ( ( 1 + r ) n - 1

    In this formula, P is the loan amount, r is the rate of interest and n is the tenure of the loan in months.

    HDFC Home Loan Interest Rates: As of 24 Jun 2019, the interest rates for HDFC Home Loans range from 8.60% p.a. to 8.95% p.a.

    HDFC Home Loan Processing Fee: HDFC charges you a fee for processing your loan application and sanctioning the amount. This processing fee is usually limited to 0.5% of the amount of loan or Rs.3,000, whichever is more. Any taxes that apply on this fee will be extra.

    HDFC Home Loan Amount and Tenure: If you’re planning on applying for a property loan from HDFC, the minimum amount you can apply for is Rs.1 lakh and the maximum amount is Rs.10 crore. You also get to choose a tenure of your choice, ranging from 1 year to 30 years.

    Amortisation of your HDFC Home Loan

    Let’s now look at an example to get a better idea of how your HDFC loan will amortise over a given tenure. Let’s consider the following parameters:

    Loan amount: Rs.10 lakh
    Interest rate: 8.95%
    Tenure: 10 years
    Processing fee: Rs.5,000 (10,00,000 x 0.5%)
    EMI: Rs.12,641

    The following table will show you how this loan will amortise over the next ten years:

    Year Principal Paid - A (Rs.) Interest Paid - B (Rs.) Total Payment - A+B (Rs.) Outstanding Loan Balance (Rs.)
    2019 53,597 72,810 1,26,407 9,46,404
    2020 69,801 81,887 1,51,688 8,76,603
    2021 76,311 75,375 1,51,686 8,00,293
    2022 83,427 68,259 1,51,686 7,16,866
    2023 91,207 60,478 1,51,685 6,25,657
    2024 99,716 51,973 1,51,689 5,25,943
    2025 1,09,013 42,673 1,51,686 4,16,928
    2026 1,19,182 32,506 1,51,688 2,97,747
    2027 1,30,298 21,390 1,51,688 1,67,450
    2028 1,42,449 9,238 1,51,687 25,001
    2029 25,001 280 25,281 0

    HDFC Ltd. Home Loan EMI Calculator FAQs

    1. Why should I calculate EMI before taking a loan?

      Calculating your EMIs before you opt for a loan can be helpful in the following ways:

      • You can get an idea of how much money you need to allocate towards repaying the loan every month.
      • It helps you budget your monthly expenses better.
      • Financial planning in terms of prepayment and pre-closure becomes easier.
    2. Will the home loan EMIs change in case of prepayment?

      When a prepayment is done, the outstanding principal reduces. You can either reduce the monthly instalment amounts by keeping the tenure of the loan the same or you can keep the instalment amounts the same and reduce the tenure of the loan. It is generally advisable to reduce the tenure of the loan and keep the monthly instalments constant as this will make sure that you pay lesser interest in the long run.

    3. Are there any charges for prepayments?

      HDFC Bank allows prepayment without any charges for their housing loans that carry floating rates of interest. For fixed-rate loans, keep in mind that the bank charges a 2% prepayment or foreclosure fee on the amount prepaid only if you pay using sources other than your own funds. If you use your own funds to prepay the outstanding amount, no such charge will apply.

    4. Do all EMI calculators function in the same way?

      Yes, every EMI calculator that uses the principal amount, interest rate, and tenure for calculation works in the same manner. BankBazaar’s calculator also gives you the amortisation details so that you know how much of each EMI goes towards repaying the principal and how much is charged as interest.

    5. Is the EMI calculator accurate?

      An EMI calculator is accurate as long as you give it the correct inputs. That said, the EMI quoted to you by the bank may be a bit different. This is because the bank may charge certain additional fees.

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