1. What is HDFC Home Loan Eligibility?

The HDFC Home Loan Eligibility Calculator helps you determine how much loan amount you may be eligible for 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 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 equation calculates the maximum loan amount you can borrow based on what you can afford to pay monthly, the interest rate, and loan term.

3. Importance of Loan Eligibility Calculation

Details: Knowing your eligibility helps in financial planning, property selection, and loan application preparation. It prevents disappointment from applying for loans beyond your repayment capacity.

4. Using the Calculator

Tips: Enter your comfortable monthly EMI amount, current HDFC home loan interest rate (default 7.90%), and desired 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 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 7.90% 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 up to 30 years, subject to applicant age and retirement age.

Q4: What factors affect eligibility beyond this calculation?
A: Credit score, existing obligations, employment stability, property value, and down payment amount also affect final eligibility.

Q5: Does this include all charges?
A: This calculates principal eligibility only. Processing fees, insurance, and other charges may apply separately.