1. What is HDFC Home Loan Eligibility?

The HDFC Home Loan Eligibility Calculator helps determine the maximum loan amount you can get based on your repayment capacity. HDFC offers home loans starting at 7.90% p.a. with a minimum income requirement of ₹25,000.

2. How Does the Calculator Work?

The calculator uses the principal amount 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 equation calculates the maximum loan amount you can get based on what you can afford to pay monthly.

3. Importance of Loan Eligibility Calculation

Details: Knowing your eligibility helps in financial planning, property selection, and loan application preparation. HDFC requires minimum ₹25,000 income and typically offers loans up to 80% of property value.

4. Using the Calculator

Tips: Enter your comfortable monthly EMI (minimum ₹25,000), current HDFC interest rate (starting at 7.90%), and loan tenure (1-30 years).

5. Frequently Asked Questions (FAQ)

Q1: What is HDFC's minimum home loan amount?
A: HDFC typically offers home loans starting from ₹5 lakhs upwards, depending on property value and location.

Q2: What factors affect HDFC loan eligibility?
A: Income, existing obligations, credit score, property value, age, and employment stability affect eligibility.

Q3: What is the maximum tenure for HDFC home loans?
A: Up to 30 years or till age 70, whichever is earlier.

Q4: Does HDFC offer special rates for women applicants?
A: Yes, HDFC offers slightly lower rates (typically 0.05% less) for women applicants.

Q5: What documents are needed for HDFC home loan?
A: Typically includes income proof, identity/address proofs, property documents, and bank statements.