Do you want to buy a house or property? Then take a home loan from HDFC Bank. That provides you an attractive rate of interest on your loan amount, you can buy a house flat, property, and construct a house by taking the HDFC home loans. You can also take the HDFC home loan for your house renovation and extension. HDFC Bank provides you a tool known as home loan EMI calculator using which you can calculate the EMI. amount. Read this article to know more about the HDFC home loan EMI calculator.
An online loan Device To Calculate the monthly loan installments
You can easily use the HDFC Home Loan EMI Calculator by just inserting the loan details like the principal amount, rate of interest and loan duration, because it works on the formula [P x R x (1+R)^N]/[(1+R)^N-1]. HDFC home loan EMI calculator determines the equated monthly installments (EMIs) in just a few seconds.
You can use the HDFC calculator to choose a suitable loan payment duration that helps in prepaying the loan amount easily and also you can reduce the interest payment on your loan amount. Because the HDFC Home Loan Interest Rates comes at both fixed and floating types which depend on the repo linked lending rate (RLLR).
For example, if you take a home loan of 30 lacs from HDFC Bank at an interest rate of 8.30% on a loan tenure of 20 years then you can use the HDFC home loan calculator and find your loan EMI, probably that would be INR 25,656.
How to know whether you are eligible for the HDFC home loan or not?
To apply for the HDFC home loan your minimum age should be 21 years and maximum age must be 70 years during the loan maturity period. If you are a salaried person then you must have a regular or permanent job with a 1-year experience in the current organization. Otherwise, the self-employed applicants have to submit their income tax return report for the last 3 years. If an applicant doesn’t have a regular flow of income then he/she isn’t eligible for the HDFC home loan.
If you want to become eligible for a home loan then you must have a good CIBIL score and repayment history. Because any bank or housing finance company doesn’t want to provide a loan to a customer with a poor credit history.
Get attractive HDFC home loan interest rates
To borrow a home loan from HDFC Bank, the first thing you'll notice is the interest rate. And HDFC home loan provides you interest rate at both fixed and floating type. Also, women borrowers get the home loan at a concessional rate of interest. See the table below and know what are the HDFC home loan interest rates for customers.
Floating Rate of Interest
TRU-FIXED LOANS - 2 Years
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