1. What is HDFC Home Loan Calculator?

The HDFC Home Loan Calculator estimates your maximum eligible loan amount based on your salary statement and repayment capacity. Current interest rates start at 8.45% p.a.

2. How Does the Calculator Work?

The calculator uses the home loan formula:

Where:

• \( P \) — Principal loan amount (INR)
• \( PMT \) — Affordable monthly payment (INR)
• \( r \) — Monthly interest rate (decimal)
• \( n \) — Loan term in months

Explanation: The equation calculates the maximum loan amount you can get based on what you can afford to pay monthly, the interest rate, and loan duration.

3. Importance of Loan Eligibility Calculation

Details: Knowing your maximum eligible loan amount helps in budgeting for your home purchase and ensures you don't overextend financially.

4. Using the Calculator

Tips: Enter your comfortable monthly EMI amount, current HDFC interest rate (default 8.45%), and desired loan term in years. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

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

Q2: What is the maximum loan tenure available?
A: HDFC offers home loans up to 30 years tenure, subject to age criteria.

Q3: What percentage of salary can be used for EMI?
A: Generally, up to 50-60% of your net monthly income can be allocated for EMI payments.

Q4: Are there any processing fees?
A: Yes, HDFC charges processing fees up to 0.50% of loan amount or ₹3,000, whichever is higher.

Q5: Does this include all charges?
A: This calculates principal eligibility only. Additional costs like registration, stamp duty, and insurance are extra.