Home Loan EMI Calculator

These calculators are provided only as general self-help Planning Tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circ*mstances.
NRIs should input net income.

HDFC Bank's home loan calculator helps you calculate your Home Loan Emi with ease. HDFC Bank's EMI calculator for a home loan can help you make an informed decision about buying a new house. The EMI calculator is useful in planning your cashflows for servicing your home loan.HDFC Bank offers home loans with EMIs starting from ₹787 per lac and interest rates starting from 8.75%* p.a. with additional features such as flexible repayment options and top-up loan. With a low-interest rate and long repayment tenure,HDFC Bank ensures a comfortable home loan EMI for you. With our reasonable EMIs, HDFC Bank Home Loan is lighter on your pocket. Calculate the EMI that you will be required to pay for your home loan with our easy to understandhome loan EMI calculator.

What is Home Loan EMI Calculator?

Home Loan EMI Calculator assists in calculation of the loan installment i.e. EMI towards your home loan. It an easy to use calculator and acts as a financial planning tool for a home buyer.

What is Home Loan EMI?

EMI stands for Equated Monthly Installment. It includes repayment of the principal amount and payment of the interest on the outstanding amount of your home loan. A longer loan tenure (for a maximum period of 30 years) helps in reducing the EMI.

Illustration: How is EMI on Loan Calculated?

Formula for EMI Calculation is -

P x R x (1+R)^N / [(1+R)^N-1] where-

P= Principal loan amount

N= Loan tenure in months

How does EMI calculation help in planning the home purchase?

HDFC Bank’s Home Loan EMI calculator gives a clear understanding of the amount that needs to be paid towards the EMIs and helps make an informed decision about the outflow towards thehousing loanevery month. This helps estimate the loan amount that can be availed and helps in assessing the own contribution requirements and cost of the property. Therefore knowing the EMI is crucial for calculation of home loan eligibility and planning your home buying journey better.

What areHDFC Bank Home Loans Key Features and Benefits?

Home Loans for purchase of a flat, row house, bungalow from private developers in approved projects
Home Loans for purchase of properties from Development Authorities such as DDA, MHADA etc
Loans for purchase of properties in an existing Co-operative Housing Society or Apartment Owners' Association or Development Authorities settlements or privately built up homes
Loans for construction on a freehold / lease hold plot or on a plot allotted by a Development Authority
Expert legal and technical counselling to help you make the right home buying decision
Integrated branch network for availing and servicing the Home Loans anywhere in India
Special arrangement with AGIF for Home Loans for those employed in the Indian Army.

Our tailor made home loans caters to customers of all age groups and employment category. We provide longer tenure loans of up to 30 years, telescopic repayment option, under adjustable rate option that specifically caters to younger customers to become home owners at an early stage of their life.

With our experience of providing home finance for over 4 decades, we are able to understand the diverse needs of our customers and fulfill their dream of owning a home .

How to use HDFC Bank's Home Loan EMI Calculator?

All you need to do is input the following to arrive at your EMI:

Loan Amount: Input the desired loan amount that you wish to avail
Loan Tenure (In Years): Input the desired loan term for which you wish to avail the housing loan. A longer tenure helps in enhancing the eligibility
Interest Rate (% P.A.): Input interest rate.

'Click Hereto Know the Prevailing Home Loan Interest Rates'

What is Home Loan Amortization Schedule?

Loan amortization is the process of reducing the debt with regular payments over the loan period. A home loan amortization schedule is a table giving the details of the repayment amount, principal and interest component.

HDFC Bank’s EMI calculators give a fair understanding about the ratio of the principal amount to the interest due, based on the loan tenure and interest rates. EMI calculator also provides an amortization table elucidating the repayment schedule. HDFC Bank’s home loan calculator provides a complete break-up of the interest and principal amount.

HDFC Bankoffers various Repayment Plans enhancing Home Loan Eligibility:

HDFC Bankoffers various repayment plans for maximizinghome loan eligibilityto suit diverse needs.

Step Up Repayment Facility (SURF)

SURF offers an option where the repayment schedule is linked to the expected growth in your income. You can avail a higher amount of loan and pay lower EMIs in the initial years. Subsequently, the repayment is accelerated proportionately with the assumed increase in your income.

Flexible Loan Installments Plan (FLIP)

FLIP offers a customized solution to suit your repayment capacity which is likely to alter during the term of the loan. The loan is structured in such a way that the EMI is higher during the initial years and subsequently decreases in proportion to the income.

Tranche Based EMI

If you purchase an under construction property you are generally required to service only the interest on the loan amount drawn till the final disbursem*nt of the loan and pay EMIs thereafter. In case you wish to start principal repayment immediately you may opt to tranche the loan and start paying EMIs on the cumulative amounts disbursed.

Accelerated Repayment Scheme

This option provides you the flexibility to increase the EMIs every year in proportion to the increase in your income which will result in you repaying the loan much faster.

Telescopic Repayment Option

With this option you get a longer repayment tenure of up to 30 years. This means an enhanced loan amount eligibility and smaller EMIs.

Estimate EMIs of your housing loan by using our feature rich EMI calculator, now!

After getting an estimate of EMI using the calculator, you can apply for a home loan online from the comfort of your living room easily with Online Home Loans by HDFC Bank.

What is a Pre-Approved Home Loan?

HDFC Bankalso offers a facility of a pre-approved home loan even before you have identified your dream home. Apre-approved home loanis an in-principal approval for a loan given on the basis of your income, creditworthiness and financial position.

Apply for a home loan online with HDFC Bank, clickApply Online

In case you would like us to get in touch with you, kindly leave your details with us.

Click hereto know more about home loans.

Home Loan EMI Calculator | EMI Calculator | Calculate EMI for Housing Loan (2024)

FAQs

How to calculate EMI for home loan formula? ›

EMI= ₹10,00,000 * 0.006 * (1 + 0.006)120 / ((1 + 0.006)120 - 1) = ₹11,714. Calculating the EMI manually using the formula can be tedious. HDFC Bank's EMI Calculator can help you calculate your loan EMI with ease.

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How to calculate interest rate for housing loan? ›

Interest = (Principal Amount x Rate of Interest x Time)/100. So, the total interest payable on your Home Loan over a period of 20 years would be Rs. 510,000. By using this formula, you can calculate the interest on your Home Loan manually and get a clear idea of how much you'll be paying in interest over the loan term.

How to calculate EMI on financial calculator? ›

EMI = P x R x (1+R)^N / [(1+R)^N-1], where P is the principal, R is the rate of interest, and N is the tenure. Enter the principal, tenure, and rate of interest to calculate the EMIs payable, and total interest payable and get a detailed amortisation schedule.

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What is the formula for calculating house payments in Excel? ›

The formula for calculating mortgage payments is PMT(interest rate/12, number of payments, loan amount). For example, if you're taking out a 10-year loan with a 6% interest rate for $200,000, the Excel formula would be: PMT(. 06/12, 120, 200000). This formula will give you a monthly payment amount of $1,788.76.

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What is the formula for EMI on home? ›

The formula to calculate EMI is P x R x (1+R)^N / [(1+R)^N-1] – where, “P” is the principal loan amount, “N” in tenure in months, and “R” is the prevailing interest rate.

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Is 7% interest high for a home loan? ›

Home buyers are going to have to settle for a 7% mortgage. The cost of a home loan has soared in recent years, in part thanks to a series of rate increases by the Federal Reserve. The average rate on a 30-year fixed mortgage was 6.74% this week, the mortgage giant Freddie Mac said.

What is the formula for interest on a housing loan? ›

The monthly interest rate (R) is calculated as the annual rate of interest divided by 12 and then by 100. For example, with a loan amount of Rs. 10,00,000, an illustrative annual interest rate of 7.25%, and a tenure of 120 months, the EMI would be approximately Rs. 11,740.

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What is the formula for EMI simplified? ›

The formula to calculate EMI is P x R x (1+R)^N / [(1+R)^N-1] – where, “P” is the principal loan amount, “N” in tenure in months, and “R” is the prevailing interest rate.

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What is the formula for calculating interest rate of EMI? ›

The mathematical formula for calculating EMIs is: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for the loan amount or principal, R is the interest rate per month [if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)], and N is the number of monthly instalments.

How to calculate mortgage loan formula? ›

If your loan amount is $100,000, you would multiply $100,000 by 0.005 for a monthly payment of $500. A simpler calculation may be first multiplying the loan amount of $100,000 by the interest rate of 0.06 to get $6,000 of yearly interest, then dividing that $6,000 by 12 to get your monthly payment of $500.

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What is the formula for installment loan? ›

The equation to find the monthly payment for an installment loan is called the Equal Monthly Installment (EMI) formula. It is defined by the equation Monthly Payment = P (r(1+r)^n)/((1+r)^n-1). The other methods listed also use EMI to calculate the monthly payment.

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