1. What is HDFC Home Loan Eligibility?

The HDFC Home Loan Eligibility Calculator helps determine the maximum loan amount you can qualify for based on your repayment capacity, current interest rates, and loan tenure. 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 loan eligibility formula:

Where:

• \( P \) — Principal loan amount (INR)
• \( PMT \) — Affordable monthly payment (INR)
• \( r \) — Monthly interest rate (decimal)
• \( n \) — Total number of monthly payments

Explanation: The formula calculates the present value of an annuity (the loan amount) based on regular payments, interest rate, and time period.

3. Importance of Loan Eligibility

Details: Knowing your eligibility helps in financial planning, property selection, and ensures you don't apply for amounts beyond your repayment capacity.

4. Using the Calculator

Tips: Enter your comfortable EMI amount (minimum ₹25,000), current interest rate (starting at 7.90%), and preferred loan term in years. The calculator will show your maximum eligible loan amount.

5. Frequently Asked Questions (FAQ)

Q1: What is HDFC's minimum income requirement?
A: HDFC requires a minimum monthly income of ₹25,000 to qualify for a home loan.

Q2: What factors affect loan eligibility?
A: Income, existing obligations, credit score, property value, interest rate, and loan tenure all affect eligibility.

Q3: What is the maximum tenure for HDFC home loans?
A: Typically up to 30 years, subject to age at loan maturity (usually 65-70 years).

Q4: Does this calculator show the exact loan amount I'll get?
A: This provides an estimate. Final approval depends on document verification and credit appraisal.

Q5: Are there prepayment charges?
A: HDFC doesn't charge for prepayment from own funds, but may charge for foreclosure from other sources.