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How to Calculate EMI for Home Loan in HDFC?

HDFC bank is one of the leading private banks of India. It caters to loan products to its consumers daily. Moreover, it provides custom quotes that enable people to customize their loan plans. Also, the tenure of repayment is longer than many private banks present in the country. Furthermore, HDFC provides online assistance that is available 24*7. Availing of a loan is a click away with HDFC. You just have to go to the Official Website of the bank. You can check out the home loan plans there. Further, customer care executives will help you navigate through the conditions. The article will make you understand the home loan EMI calculator HDFC elaborately. Also, you will get to know the features and attributes of HDFC home loans.

Why go for HDFC Home Loans?

The HDFC bank has the most attractive loan plans. It gives house loans at a starting rate of 6.70% per annum. Additionally, the tenure of repayment is longer than the rest of the market. It accepts a repayment of the loan for a term of up to 30 years. Furthermore, sanctioning a loan takes place within 5 working days. The bank provides loans to everyone with employment. Be it a business person or a service holder, everyone can avail of the loan. Consumers can not only buy but also renovate their homes with such loans. The process of documentation is hassle-free. Also, the application process is less time-taking. Moreover, the home loan EMI calculator HDFC makes it easy to find the amount you need to pay every month for clearing the loan.

Key Attributes of HDFC Home Loans:

  • The whole process can take place in the online mode. You do not have to run to a branch nearby. The bank executives will do the job for you. 
  • Also, you can manage your loans digitally. All you need to do is log in to the Official website of the bank. However, you can manage it through the bank’s mobile application as well. 
  • The bank provides day-long assistance throughout the week. You can dial the toll-free number anytime to get assistance. 
  • Also, they provide legal assistance to enlighten you about the terms. 
  • Furthermore, it will assist you with the technicalities.
  • The bank work in a network. You can avail of your service anywhere in the country. 
  • Under the PMAY CLSS subsidy, one can save a ransom of up to Rs. 2.67 Lakhs. 
  • The defence personnel get special benefits with AGIF for getting house loans. 
  • Additionally, women get loans at cheaper rates. The interest rates are between 6.80% to 7.25% per annum for women customers. 

Calculating EMI for HDFC Home Loans:

The HDFC home loan EMI calculator helps you to calculate house loans at home. You can calculate the EMI value in two ways:

  • Flat Rate Method and 
  • The Reducing Balance method

Out of the two methods, the flat-rate method is in extensive use.

In the Flat rate method, EMI calculation happens by the summation of the loan’s principal amount and the principal sum’s interest. After the summation, divide the outcome (total) by the number of periods. Then there should be a multiplication with the number of months. 

To have clarity on the above statements, go through the example below::

Suppose, a person takes a home loan of Rs 6 lacs at an interest rate of 8%. If the duration of the debt is 10 years. Then as per the flat rate method, the calculations are as follows:

EMI = (6,00,000+(6,00,000 ✕10 ✕ 0.080))/10✕12

EMI =  Rs. 9000

Consequently, following the flat rate method, the value of your EMI will be Rs 9000. Hence, you need to pay an instalment of Rs. 9000 for ten years every month. 

Eligibility Criteria to Apply for HDFC House Loans:

The following are the criteria for being eligible to apply for HDFC Home loans:

  • The applicant has to be between the age group of 21 years and 65 years. 
  • Furthermore, the consumer should have a job for which they get a salary. Or else they should have self-employment. 
  • One should be of Indian nationality to apply for a loan with HDFC bank.
  • However, people of any gender can apply for a house loan. 
  • If you opt to have a co-applicant then it is advantageous. 
  • The presence of a co-applicant helps to maximize the amount of the loan. 
  • A woman co-applicant yields a better rate of interest. As the rates are lower for women candidates.
  • Besides, your co-applicant does not have to be a co-owner. Moreover, it is better to have a close relative or family member as a co-applicant.

House loans are beneficial to everyone belonging to the working class. It allows consumers who have dreams of an ideal house. The HDFC bank makes sure to tailor your loan plan. It keeps no coins unturned to give you the best experience. Also, the EMI plans are beneficial to a large consumer base. It makes the calculations simpler and easier to understand. 


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

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