1. What is HDFC Home Loan Eligibility?

The HDFC Home Loan Eligibility Calculator determines the maximum loan amount you can get based on your repayment capacity, current interest rates (starting at 8.45% p.a.), and loan tenure. Minimum income requirement is ₹25,000.

2. How Does the Calculator Work?

The calculator uses the present value of annuity formula:

Where:

• \( P \) — Principal loan amount (INR)
• \( PMT \) — Affordable monthly payment (INR)
• \( r \) — Monthly interest rate (annual rate ÷ 12)
• \( n \) — Total number of payments (years × 12)

Explanation: The formula calculates the lump sum amount (P) that can be repaid through fixed monthly installments (PMT) over the loan term at the given interest rate.

3. Importance of Loan Eligibility Calculation

Details: Knowing your maximum eligible loan amount helps in budget planning, property selection, and ensures you don't apply for amounts beyond your repayment capacity.

4. Using the Calculator

Tips: Enter your comfortable monthly EMI (minimum ₹25,000), current interest rate (minimum 8.45%), and desired loan term. The calculator will show your maximum eligible loan amount.

5. Frequently Asked Questions (FAQ)

Q1: What is the minimum salary for HDFC home loan?
A: HDFC typically requires a minimum monthly income of ₹25,000 for salaried individuals.

Q2: What are current HDFC home loan rates?
A: Rates start at 8.45% p.a. and vary based on loan amount, tenure, and applicant profile.

Q3: How is EMI calculated?
A: EMI = [P × r × (1+r)^n] ÷ [(1+r)^n-1], where P=loan amount, r=monthly interest rate, n=tenure in months.

Q4: What factors affect loan eligibility?
A: Income, existing obligations, credit score, property value, and loan tenure.

Q5: Can I get 100% home loan?
A: Typically banks finance up to 75-90% of property value; the rest must come from your own funds.