1. What is HDFC Bank Home Loan?

HDFC Bank offers home loans with competitive interest rates starting from 8.45% p.a. for salaried individuals. The loans are available for purchase, construction, renovation, or extension of residential properties.

2. How Does the Calculator Work?

The calculator uses the standard EMI formula:

Where:

• \( P \) — Loan principal amount
• \( r \) — Monthly interest rate (annual rate divided by 12)
• \( n \) — Loan tenure in months

Explanation: The formula calculates the fixed monthly payment (EMI) required to fully repay the loan over the specified tenure.

3. Current Interest Rates

Details: As of current information, HDFC Bank home loan interest rates start at 8.45% p.a. for salaried individuals. Rates may vary based on loan amount, tenure, applicant's profile, and other factors.

4. Using the Calculator

Tips: Enter loan amount in ₹, tenure in years, and interest rate in % p.a. The calculator will show monthly EMI, total interest, and total payment.

5. Frequently Asked Questions (FAQ)

Q1: What is the minimum loan amount for HDFC home loans?
A: The minimum loan amount is typically ₹5 lakhs, but may vary based on property value and location.

Q2: What is the maximum tenure available?
A: HDFC offers home loans up to 30 years tenure, subject to applicant's age and retirement age.

Q3: Are there any prepayment charges?
A: HDFC Bank does not charge prepayment penalty for floating rate home loans.

Q4: What documents are required?
A: Standard documents include identity proof, address proof, income proof, property documents, and bank statements.

Q5: How is the interest rate determined?
A: Rates depend on multiple factors including loan amount, tenure, applicant's credit score, income profile, and property value.