1. What is HDFC Home Loan Eligibility Calculator?

The HDFC Home Loan Eligibility Calculator helps you determine how much loan amount you can get from HDFC based on your repayment capacity, current interest rates, and loan tenure. HDFC offers home loans starting at 8.45% p.a.

2. How Does the Calculator Work?

The calculator uses the loan eligibility formula:

Where:

• \( P \) — Maximum 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 present value of an annuity (the loan amount) based on regular payments (EMIs) over time.

3. Importance of Loan Eligibility Calculation

Details: Knowing your eligible loan amount helps in budget planning, property selection, and financial preparation before applying for a home loan.

4. Using the Calculator

Tips: Enter your comfortable EMI amount, current HDFC interest rate (starting at 8.45% p.a.), and preferred loan tenure. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is HDFC's current home loan interest rate?
A: HDFC home loan rates currently start at 8.45% p.a. for eligible borrowers, but may vary based on credit profile and loan amount.

Q2: How accurate is this eligibility calculator?
A: This provides an estimate. Final eligibility depends on HDFC's assessment of income, credit score, property value, and other factors.

Q3: What's the maximum tenure for HDFC home loans?
A: Typically up to 30 years, subject to age at loan maturity (usually 60-70 years depending on employment type).

Q4: Does HDFC offer special rates for women borrowers?
A: Yes, HDFC often provides slightly lower interest rates (typically 0.05% less) for female home loan applicants.

Q5: What other charges apply to HDFC home loans?
A: Processing fees (0.5-1% of loan amount), administrative charges, legal/technical charges, and applicable taxes.