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 8.45% p.a. with a minimum income requirement of ₹25,000.

2. How Does the Calculator Work?

The calculator uses the present value of annuity formula:

Where:

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

Explanation: The formula calculates the maximum loan amount that can be repaid with the given monthly payment over the specified term at the current interest rate.

3. Importance of Loan Eligibility

Details: Knowing your eligibility helps in financial planning, property selection, and ensures you apply for a loan amount within your repayment capacity.

4. Using the Calculator

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

5. Frequently Asked Questions (FAQ)

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

Q2: What is the current interest rate?
A: Rates start at 8.45% p.a. but may vary based on loan amount, tenure, and applicant profile.

Q3: What is the maximum loan tenure?
A: HDFC offers home loans for up to 30 years, subject to age criteria.

Q4: What factors affect eligibility?
A: Income, existing obligations, credit score, property value, and applicant age all influence eligibility.

Q5: Is this calculation exact?
A: This provides an estimate. Actual eligibility is determined by HDFC after complete application review.