1. What is HDFC Home Loan Eligibility?

The HDFC Home Loan Eligibility Calculator helps determine how much loan amount you can get based on your repayment capacity. HDFC Bank 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 (annual rate ÷ 12)
• \( n \) — Total number of monthly payments

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

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 considers 50-60% of your income as EMI capacity.

4. Using the Calculator

Tips: Enter your comfortable EMI amount (minimum ₹25,000), current HDFC interest rate (starting at 7.90%), and desired loan term (1-30 years). The calculator will show your maximum eligible loan amount.

5. Frequently Asked Questions (FAQ)

Q1: What is HDFC's minimum home loan amount?
A: HDFC typically offers home loans starting from ₹5 lakhs up to ₹15 crores, depending on property value and applicant's profile.

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

Q3: What is the maximum loan tenure with HDFC?
A: HDFC offers home loans up to 30 years tenure, subject to applicant's age (retirement age minus current age).

Q4: Does HDFC offer special rates for women?
A: Yes, HDFC offers 0.05% concession on interest rates for female applicants.

Q5: What documents are needed for HDFC home loan?
A: Typically requires income proof, ID/address proof, property documents, bank statements, and photographs.