1. What is the HDFC Loan Amount Calculator?

The HDFC Loan Amount Calculator helps you determine how much you can borrow based on your affordable monthly payment, current interest rates, and loan term. HDFC home loan rates start at 7.90% p.a.

2. How Does the Calculator Work?

The calculator uses the loan 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 (term in years × 12)

Explanation: The formula calculates the present value of an annuity (the loan amount) based on fixed monthly payments over a specified term at a given interest rate.

3. Importance of Loan Amount Calculation

Details: Knowing your maximum eligible loan amount helps in budgeting and home search. It ensures you look at properties within your financial capacity.

4. Using the Calculator

Tips: Enter your comfortable EMI amount, current HDFC interest rate (default is 7.90%), and desired loan term. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the current HDFC home loan interest rate?
A: Rates start at 7.90% p.a. but vary based on loan amount, tenure, and applicant profile.

Q2: How does loan term affect the loan amount?
A: Longer terms allow larger loan amounts for the same EMI, but increase total interest paid.

Q3: What factors determine my actual eligible loan amount?
A: HDFC considers income, existing obligations, credit score, property value, and other factors beyond this basic calculation.

Q4: Does this include processing fees and other charges?
A: No, this calculates only the principal amount. Additional fees (0.50% or more) will apply.

Q5: How accurate is this calculator?
A: It provides a good estimate, but your actual eligible amount may differ based on HDFC's full assessment.