# Home Loan EMI Calculator

Rs.
Rs. 1 Lac Rs. 10 Cr
1 30
0 15
21,538
25,00,000
26,69,027
51,69,027

These calculators are provided only as general self-help Planning Tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances.
NRIs should input net income.

## Home Loan EMI Calculator

HDFC's home loan calculator helps you calculate your Home Loan Emi with ease. HDFC's EMI calculator for a home loan can help you make an informed decision about buying a new house. The EMI calculator is useful in planning your cashflows for servicing your home loan. HDFC offers home loans with EMIs starting from ₹762 per lac and interest rates starting from 8.40%* p.a. with additional features such as flexible repayment options and top-up loan. With a low-interest rate and long repayment tenure, HDFC ensures a comfortable home loan EMI for you. With our reasonable EMIs, HDFC Home loan is lighter on your pocket. Calculate the EMI that you will be required to pay for your home loan with our easy to understand home loan EMI calculator.

## What is Home Loan EMI Calculator?

Home Loan EMI Calculator assists in calculation of the loan installment i.e. EMI towards your home loan. It an easy to use calculator and acts as a financial planning tool for a home buyer.

## What is Home Loan EMI?

EMI stands for Equated Monthly Installment. It includes repayment of the principal amount and payment of the interest on the outstanding amount of your home loan. A longer loan tenure (for a maximum period of 30 years) helps in reducing the EMI.

### Illustration: How is EMI on Loan Calculated?

Formula for EMI Calculation is -

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

The rate of interest (R) on your loan is calculated per month.

R = Annual Rate of interest/12/100

If rate of interest is 7.2% p.a. then r = 7.2/12/100 = 0.006

For example, If a person avails a loan of ₹10,00,000 at an annual interest rate of 7.2% for a tenure of 120 months (10 years), then his EMI will be calculated as under:

EMI= ₹10,00,000 * 0.006 * (1 + 0.006)120 / ((1 + 0.006)120 - 1) = ₹11,714.

The total amount payable will be ₹11,714 * 120 = ₹14,05,703. Principal loan amount is ₹10,00,000 and the Interest amount will be ₹4,05,703

Calculating the EMI manually using the formula can be tedious.

## How does EMI calculation help in planning the home purchase?

HDFC’s Home Loan EMI calculator gives a clear understanding of the amount that needs to be paid towards the EMIs and helps make an informed decision about the outflow towards the housing loan every month. This helps estimate the loan amount that can be availed and helps in assessing the own contribution requirements and cost of the property. Therefore knowing the EMI is crucial for calculation of home loan eligibility and planning your home buying journey better.

## What are HDFC Home Loans Key Features and Benefits?

• Home Loans for purchase of a flat, row house, bungalow from private developers in approved projects

• Home Loans for purchase of properties from Development Authorities such as DDA, MHADA etc

• Loans for purchase of properties in an existing Co-operative Housing Society or Apartment Owners' Association or Development Authorities settlements or privately built up homes

• Loans for construction on a freehold / lease hold plot or on a plot allotted by a Development Authority

• Integrated branch network for availing and servicing the Home Loans anywhere in India

• Special arrangement with AGIF for Home Loans for those employed in the Indian Army.

Our tailor made home loans caters to customers of all age groups and employment category. We provide longer tenure loans of up to 30 years, telescopic repayment option, under adjustable rate option that specifically caters to younger customers to become home owners at an early stage of their life.

With our experience of providing home finance for over 4 decades, we are able to understand the diverse needs of our customers and fulfill their dream of owning a home .

## How to use HDFC's Home Loan EMI Calculator?

All you need to do is input the following to arrive at your EMI:

• Loan Amount: Input the desired loan amount that you wish to avail
• Loan Tenure (In Years): Input the desired loan term for which you wish to avail the housing loan. A longer tenure helps in enhancing the eligibility
• Interest Rate (% P.A.): Input interest rate.

## What is Home Loan Amortization Schedule?

Loan amortization is the process of reducing the debt with regular payments over the loan period. A home loan amortization schedule is a table giving the details of the repayment amount, principal and interest component.

HDFC’s EMI calculators give a fair understanding about the ratio of the principal amount to the interest due, based on the loan tenure and interest rates. EMI calculator also provides an amortization table elucidating the repayment schedule. HDFC’s home loan calculator provides a complete break-up of the interest and principal amount.

## HDFC offers various Repayment Plans enhancing Home Loan Eligibility:

HDFC offers various repayment plans for maximizing home loan eligibility to suit diverse needs.

• Step Up Repayment Facility (SURF)

SURF offers an option where the repayment schedule is linked to the expected growth in your income. You can avail a higher amount of loan and pay lower EMIs in the initial years. Subsequently, the repayment is accelerated proportionately with the assumed increase in your income.

• Flexible Loan Installments Plan (FLIP)

FLIP offers a customized solution to suit your repayment capacity which is likely to alter during the term of the loan. The loan is structured in such a way that the EMI is higher during the initial years and subsequently decreases in proportion to the income.

• Tranche Based EMI

If you purchase an under construction property you are generally required to service only the interest on the loan amount drawn till the final disbursement of the loan and pay EMIs thereafter. In case you wish to start principal repayment immediately you may opt to tranche the loan and start paying EMIs on the cumulative amounts disbursed.

• Accelerated Repayment Scheme

This option provides you the flexibility to increase the EMIs every year in proportion to the increase in your income which will result in you repaying the loan much faster.

• Telescopic Repayment Option

With this option you get a longer repayment tenure of up to 30 years. This means an enhanced loan amount eligibility and smaller EMIs.

Estimate EMIs of your housing loan by using our feature rich EMI calculator, now!

After getting an estimate of EMI using the calculator, you can apply for a home loan online from the comfort of your living room easily with Online Home Loans by HDFC.

## What is a Pre-Approved Home Loan?

HDFC also offers a facility of a pre-approved home loan even before you have identified your dream home. A pre-approved home loan is an in-principal approval for a loan given on the basis of your income, creditworthiness and financial position.

Apply for a home loan online with HDFC, click Apply Online

In case you would like us to get in touch with you, kindly leave your details with us.

## Home Loan Amortization Schedule

YearOpening BalanceEMI*12Interest paid yearlyPrincipal paid yearlyClosing Balance
125,00,0002,58,4512,08,09050,36124,49,639
224,49,6392,58,4512,03,69354,75823,94,881
323,94,8812,58,4511,98,91259,53923,35,342
423,35,3422,58,4511,93,71464,73722,70,605
522,70,6052,58,4511,88,06270,39022,00,215
622,00,2152,58,4511,81,91676,53521,23,680
721,23,6802,58,4511,75,23483,21820,40,462
820,40,4622,58,4511,67,96890,48419,49,979
919,49,9792,58,4511,60,06898,38418,51,595
1018,51,5952,58,4511,51,4781,06,97417,44,621
1117,44,6212,58,4511,42,1381,16,31416,28,308
1216,28,3082,58,4511,31,9821,26,46915,01,839
1315,01,8392,58,4511,20,9401,37,51113,64,328
1413,64,3282,58,4511,08,9341,49,51712,14,811
1512,14,8112,58,45195,8801,62,57210,52,239
1610,52,2392,58,45181,6851,76,7668,75,473
178,75,4732,58,45166,2521,92,1996,83,273
186,83,2732,58,45149,4712,08,9814,74,293
194,74,2932,58,45131,2252,27,2272,47,066
202,47,0662,58,45111,3852,47,0660

## Home Loan FAQs

### What does an EMI mean?

EMI refers to the ‘Equated Monthly Installment’ which is the amount you will pay to us on a specific date each month till the loan is repaid in full. The EMI comprises of the principal and interest components which are structured in a way that in the initial years of your loan, the interest component is much larger than the principal component, while towards the latter half of the loan, the principal component is much larger.

### When does my home loan EMIs start?

EMI's begins from the month subsequent to the month in which disbursement of the loan is done. For loans for under-construction properties EMI usually begins after the complete home loan is disbursed but customers can choose to begin their emi’s as soon as they avail their fist disbursement and their emi’s will increase proportionately with every subsequent  disbursement.For resale cases,since the whole loan amount is disbursed in one go,emi on the whole loan amount start from the subsequent to the  month of disbursment

### What are the benefits of using an EMI Calculator for a home loan?

Following are the benefits of an EMI calculator for a home loan-

An EMI calculator is useful in planning your cash flows much in advance, so that you make your home loan payments with ease whenever you avail a home loan. In other words, an EMI calculator is a useful tool for your financial planning and loan servicing needs.

Easy to use

EMI calculators are very simple and easy to use. You need to provide only three input values namely:

a. Loan Amount
b. Interest Rate
c. Tenure

Basis these three input values, the EMI calculator will compute the instalment you need to pay to the home loan provider each month. Some EMI calculators for home loan also provide a detailed breakup of the interest and principal amount you will be paying over the entire loan tenure.

Helps brings focus on property search

The EMI calculator helps you arrive at the right home loan amount that best fits your monthly budget, by helping you decide the loan EMI and tenure most suitable to your financial position. This helps bring more focus on your property search.

Easily accessible

An online EMI calculator is easily accessible online from anywhere. You can try various combinations of the input variable as many times as required to arrive at the right home loan amount, EMIs, and tenure best suited to your needs.

You can avail home loan and buy your dream house in cities like Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Pune, Jaipur and more.

### What is a pre-EMI interest on a home loan?

Pre-EMI is the monthly payment of interest on your home loan. This amount is paid during the period till the full disbursement of the loan. Your actual loan tenure — and EMI (comprising of both principal and interest) payments — begins once the Pre-EMI phase is over i.e. post the loan has been fully disbursed.

### Can I change my home loan EMI date? If yes, how can I do that?

Yes. You can do so by visiting your nearest HDFC branch.

### How does your home loan repayment work?

A home loan is usually repaid through Equated Monthly Instalments (EMI).The EMI comprises of the principal and interest components which are structured in a way that in the initial years of your loan, the interest component is much larger than the principal component, while towards the latter half of the loan, the principal component is much larger.

### How do I repay a home loan ?

For your convenience, HDFC offers various modes for repayment of the home loan. You may issue standing instructions to your banker to pay the installments through ECS (Electronic Clearing System), opt for direct deduction of monthly installments by your employer or issue post-dated cheques from your salary account.

### What is a Home loan and how does it work?

Home loans are availed either for purchase of an under-construction or a ready property from a developer, purchase of a resale property, to construct a housing unit on a plot of land, to make improvements and extensions to an already existing house and to transfer your existing home loan from a financial institution to HDFC. Click here to know what is a home loan

A HDFC home loan provides numerous benefits such as facility to apply online, quick loan processing, attractive interest rates, customized repayment options and simple &hassle-free documentation.

### What is the maximum home loan that I can obtain?

You are required to pay 10-25% of the total property cost as  ‘own contribution depending upon the loan amount. 75 to 90% of the property cost is what can be availed as a home loan. In case of construction, home improvement and home extension loans, 75 to 90% of the construction/improvement/extension estimate can be funded.

### How do I apply for a home loan?

You can avail a HDFC home loan online in 4 quick and easy steps:
3. Pay Processing Fee
4. Get Loan Approval

You can also now apply for a home loan online. Visit https://portal.hdfc.com/ to apply now!.

### How will HDFC decide the home loan amount i am eligible for?

HDFC will determine your Home Loan Eligibility largely by your income and repayment capacity. Other important factors include your age, qualification, number of dependants, your spouse's income (if any), assets & liabilities, savings history and the stability & continuity of occupation.

### Can I get an approval for a home loan while I decide which property, I should purchase?

You can apply for a pre approved home loan which is an in-principal approval for a loan given on the basis of your income, creditworthiness and financial position. Generally, pre-approved loans are taken prior to property selection and are valid for a period of 6 months from the date of sanction of the loan .

### What is part/subsequent disbursement of a home loan?

HDFC disburses loans for under construction properties in installments based on the progress of construction. Every installment disbursed is know as a 'part' or a 'subsequent' disbursement.

### What are the different types of Home Loans available in India?

The following types of Home Loans products are usually offered in India by Housing Finance Institutions:

### Home Loans

These are Loans availed for:

1. The purchase of a flat, row house, bungalow from private developers in approved projects;

2.Home Loans for purchase of properties from Development Authorities such as DDA, MHADA as well as Existing Co-operative Housing Societies, Apartment Owners' Association or Development Authorities settlements or privately built up homes;

3.Loans for construction on a freehold / lease hold plot or on a plot allotted by a Development Authority

### Plot Purchase Loan

Plot purchase loans are availed for purchase of a plot through direct allotment or a second sale transaction as well as to transfer your existing plot purchase loan availed from another bank /financial Institution.

### Balance Transfer Loan

Transferring your outstanding home loan availed from another Bank / Financial Institution to HDFC is known as a balance transfer loan.

### House Renovation Loans

House Renovation Loan is a loan for renovating (without altering the structure/carpet area) your home in many ways such as tiling, flooring, internal / external plaster and painting etc.

### Home Extension Loan

It is a loan to extend or add space to your home such as additional rooms and floors etc.