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HDFC Home Loan EMI Calculator

HDFC Home Loan EMI Calculator: Calculate HDFC Home Loan EMI Online

A home loan is one of the most widely availed financial products in India. Following a slump post the 2008 financial crisis, the real estate industry has steadily picked up the pace ever since. The demand for real estate is on a rise, and home loans help thousands of individuals fulfill their dreams of owning a house.

HDFC is a premier financial institution that offers such loans. A prospective borrower must calculate the EMI amount that they need to pay as per their loan amount and tenor accordingly. Proper financial planning is crucial to successfully repay such a long-term loan. HDFC home loan EMI calculator can help individuals immensely in that endeavor.

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How can the HDFC home EMI calculator help you?

A home loan is secured credit. There are several aspects to this loan, which might confuse a borrower on the exact EMI amount that they need to pay towards its repayment. The HDFC housing loan calculator helps them by computing the EMI amount that borrowers need to pay every month to stay in tune with the repayment expectations of the lender.

  • The calculator uses raw data to calculate the exact EMI amount to help borrowers.
  • It is exceptionally fast. You can know your payable EMI amount in a few seconds, which saves you valuable time.
  • It is always accurate to the last digit. You can bank on this information and plan your finances accordingly.
  • It is a highly specific calculator for home loans.

The formula to determine home loan EMI

The home loan calculator uses a standardised method to calculate the EMI amount that one has to pay every month.

E = P.r. (1+r)n (1+r)n-1, where

E is the EMI

P is the principal amount

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r is the applicable rate of interest

n is the number of EMIs

For example, if you avail a loan worth Rs. 1 Crore for a tenure of 20 years with an interest rate of 10%, your EMI shall be –

E= 1,00,00,000 x 10 (1+10)240 (1+10) 240-1, which equates to Rs. 96, 502.

Do note that the EMI amount remains constant for home loans with a fixed rate of interest. For home loans with a floating interest rate, one has HDFC housing loan EMI calculator every time the rate changes.

HDFC’s amortization schedule

If you have taken a loan of Rs 10 Lakh over a period of 10 years or 120 months at 12% annual interest, the amortisation schedule will be the following.

Month Principal (in Rs) Interest (in Rs) Principal + Interest To be paid (in Rs)
1 4347 10000 14347 995653
2 4391 9957 14347 991262
3 4434 9913 14347 986828
4 4479 9868 14347 982349
5 4524 9823 14347 977825
6 4569 9778 14347 973257
7 4615 9733 14347 968642
8 4661 9686 14347 963981
9 4707 9640 14347 959274
10 4754 9593 14347 954520
11 4802 9545 14347 949718
12 4850 9497 14347 944868

This is the amortization table for the first 12 months post taking a loan. It will progress accordingly throughout the loan tenure. 

How to use Groww’s HDFC home loan calculator?

Groww makes the process of calculating home loan EMI simple and straightforward with its HDFC bank home loan calculator. Follow these steps to know your EMI.

  • Enter the loan amount, interest rate and tenure.
  • Click to know your monthly payable EMI.
Advantages of using Groww calculator
  • It’s absolutely safe and does not compromise on the information that you provide.
  • It is entirely free of charge for registered users.
  • It lets you gauge the EMI amount beforehand, providing you with valuable information so that you can plan your finances with ease.

Home loans provided by authorized financial institutions have helped countless individuals realize their dream of owning a house. It eases the financial burden associated with the purchase of a new house significantly.

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Here are some common doubts and queries people have regarding HDFC Home Loan EMI calculator.

Frequently Asked Questions (FAQ)
  • What is the maximum possible tenure of a home loan in India?

Most home loans have a minimum tenure of 5 years and a maximum tenure of 30 years. 

  • Can I add my family members as co-guarantors?

You can apply for a joint home loan and add co-guarantors from your immediate family. YOU cannot add your friends or colleagues as co-debtors.

  • Can I switch from a floating rate of interest to a fixed one?

Some lenders give you the advantage of switching from a floating rate to a fixed rate of interest. However, some loan conditions may be tweaked. Please get in touch with your lending institution.

  • What happens if I default on my EMI payments?

All lenders levy a penalty which you will have to pay if you default on regular EMI payments.


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