HDFC Bank Home Loan EMI Calculator

HDFC Bank is a prestigious private sector bank in India that offers easy home loans to potential home buyers and existing homeowners. HDFC home loans are available at an annual interest rate of 8.50%. The bank recommends borrowers use the online HDFC EMI calculator, which is a convenient resource offering a quick and accurate overview of potential monthly financial commitments. Using the online HDFC Home Loan EMI Calculator is very simple, and one simply needs to input details like the home loan tenure, interest rate, and principal amount to get the EMI estimates through this tool. Read through to understand the functioning of the HDFC home EMI calculator, why to use it, and what factors might impact the home loan EMI. 

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Break up of Total Payment

Your monthly EMI is

Total Amount Payable

  • Principal Amount

  • Total Interest

How to Calculate HDFC Bank Home Loan EMI?

As one of the leading banks in India, HDFC encourages borrowers to save time in calculating home loan EMI by using the online calculator available on its official website. The EMI calculation in this calculator is done using factors like the interest rate, tenure, and loan amount. A comprehensive understanding of how to calculate the HDFC Bank housing loan EMI can empower borrowers to plan their finances effectively. 

HDFC Bank Home Loan EMI Calculator Formula

The HDFC  home loan calculator online that we are recommending you use is based on a simple mathematical formula. The three main components used in the HDFC  home loan calculation formula are principal loan amount, loan tenure, and interest rate. Have a look at the formula to understand it better:

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

In the above formula:

P stands for the Principal Loan Amount
R stands for the Rate of Interest
N stands for the No. of Installments 

Factors affecting HDFC Bank Home Loan EMI

It is not necessary that HDFC Bank will ask for the same EMI for all home loans; certain factors may determine your specific home loan EMI. Continue reading to understand the main HDFC Bank home loan criteria that can impact your home loan Equated Monthly Installments:

Interest Rate: The first factor to impact your home loan monthly installments is the rate of interest at which you got the loan. Remember, to opt for a home loan at a lower interest rate to pay lower EMIs every month. 

Principal Amount: The second factor that can determine what EMI you will pay for an HDFC housing loan is the loan amount you took from the bank. If you've borrowed a substantial sum, prepare to repay a sizable amount as your housing loan EMI.

Tenure: The third crucial factor to affect the housing loan EMI is the loan tenure for which you took the loan. Borrowing money from the bank for a longer time means paying less EMI because the overall interest keeps adding on, whereas if you choose a shorter tenure, you pay a higher EMI. 

Benefits of Using HDFC Bank Home Loan Calculator

Online tools such as the online HDFC housing loan calculator have undoubtedly made things easier. Want to know how? So, read on to learn the benefits of HDFC home loan EMI calculator:

Accurate Results: The topmost benefit of using the HDFC housing loan EMI calculator is that it provides 100% accurate results for a variety of combinations. The only pre-requisite is that the borrower must enter the right details in the form of tenure, loan amount, and interest rate. 

Saves Time and Efforts: One of the main advantages of using the online home loan EMI calculator is that it helps save time by offering instant results without putting in any effort. We recommend using the EMI calculator available online at the official website of the BASIC Home Loan: EMI.

Easy to Access: Not to forget that the online HDFC housing loan EMI calculator is an easy-to-access tool that can be used by anyone, from anywhere, and anytime. It gives them the freedom to determine their home loan repayment capacity without putting them under any constraints to visit the bank branch.

HDFC Bank Home Loan Interest Calculator Formula

You must note that the monthly EMI you will pay for a home loan includes the principal repayment and the interest payable. You can calculate the interest using the HDFC bank home loan interest rate calculator. The HDFC housing loan interest rate calculator formula is again based on the same three factors: loan tenure, loan amount, and interest rate. Have a look at the formula below:

Total Interest = (P X R X T) / 100

In the above formula:

P stands for Principal Loan Amount
R stands for the Rate of Interest 
T stands for the Tenure 

HDFC Bank Home Loan Eligibility Criteria

It is important to understand whether or not you are eligible to apply for an HDFC home loan. This can be done instantly by using the online HDFC home loan eligibility calculator. To use this calculator, one needs to input details such as employment status, salary or income, credit score or CIBIL score, repayment capacity, and nationality of the borrower. 

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Comparison of HDFC Bank Home Loan EMI with Other Popular Banks

It is always good to do some comparison when shortlisting a bank for a home loan. If you have already made up your mind to apply for an HDFC home loan, we still recommend you check the EMI of other leading lenders and compare it with HDFC Equated Monthly Installments to make an informed decision. For this, we are now showing you a comparison of an HDFC home loan Equated Monthly Installments with the EMI of 5 popular banks and other financial lenders for a 10-year tenure:

Bank Name Rate of Interest Rs. 10 lakhs Rs. 20 lakhs Rs. 30 lakhs Rs. 40 lakhs Rs. 50 lakhs
HDFC 8.5% p.a. onwards Rs. 12,399 Rs. 24,797 Rs. 37,196 Rs. 49,594 Rs. 61,993
LIC 8.5% p.a. onwards Rs. 12,399 Rs. 24,797 Rs. 37,196 Rs. 49,594 Rs. 61,993
Tata Capital 8.70% p.a. onwards Rs. 12,506 Rs. 25,012 Rs. 37,517 Rs. 50,023 Rs. 62,529
Aditya Birla Housing Finance 8.85% p.a. onwards Rs. 12,587 Rs. 25,173 Rs. 37,760 Rs. 50,346 Rs. 62,933
ICICI Bank 9.00% p.a. onwards Rs. 12,668 Rs. 25,335 Rs. 38,003 Rs. 50,670 Rs. 63,338
Cholamandalam Home Loan 9.00% p.a. onwards Rs. 12,668 Rs. 25,335 Rs. 38,003 Rs. 50,670 Rs. 63,338
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HDFC Bank Home Loan Amortization Schedule

Another table that can help you be aware of your monthly expenses for a home loan is the HDFC Home Loan Amortization Schedule Table. It is through this schedule that a borrower can know exactly how much is being paid for which component every month in your housing loan EMI. 

Steps to Calculate HDFC Bank Home Loan Amortized Interest

Step 1: The first step to calculate the housing loan amortization interest starts by dividing your HDFC home loan interest rate by the no. of EMIs you will make in a year. For example, if your home loan rate of interest is 8.50% p.a. and you prefer paying monthly payments, then must divide 8.50% by 12 = 0.007083
Step 2: Now, continue multiplying this no. with the remaining loan balance, and you will derive the monthly interest. For example, if your loan balance is Rs. 5,500,000, the interest you are expected to pay in the first month would be 5,500,000 x 0.007083 = Rs. 38,958
Step 3: In the third step, you must subtract this monthly interest from your Equated Monthly Installment to derive the principal loan amount payable in the 1st month. For example, if your EMI is Rs. 47,730, you will pay Rs. 47,730 - Rs. 38,958 = Rs. 8,771.66 as the principal loan amount, and the same amount will be reduced from your remaining loan to calculate the outstanding balance for the next month and so on
Step 4: Repeat all these steps to calculate the outstanding loan balance, principal, and interest for each month

You will be able to understand it better with the HDFC Bank Home Loan Amortization Schedule 2024 given below:
Year/Month Principal Amount Interest Loan EMI
2024 Rs. 109,459.14 Rs. 463,300.86 Rs. 5,500,000.00 Rs. 572,760
1st Month Rs. 8,771.67 Rs. 38,958.33 Rs. 5,500,000.00 Rs. 47,730
2nd Month Rs. 8,833.80 Rs. 38,896.20 Rs. 5,491,228.33 Rs. 47,730
3rd Month Rs. 8,896.37 Rs. 38,833.63 Rs. 5,482,394.53 Rs. 47,730
4th Month Rs. 8,959.39 Rs. 38,770.61 Rs. 5,473,498.16 Rs. 47,730
5th Month Rs. 9,022.85 Rs. 38,707.15 Rs. 5,464,538.77 Rs. 47,730
6th Month Rs. 9,086.76 Rs. 38,643.24 Rs. 5,455,515.92 Rs. 47,730
7th Month Rs. 9,151.13 Rs. 38,578.87 Rs. 5,446,429.16 Rs. 47,730
8th Month Rs. 9,215.95 Rs. 38,514.05 Rs. 5,437,278.03 Rs. 47,730
9th Month Rs. 9,281.23 Rs. 38,448.77 Rs. 5,428,062.09 Rs. 47,730
10th Month Rs. 9,346.97 Rs. 38,383.03 Rs. 5,418,780.86 Rs. 47,730
11th Month Rs. 9,413.18 Rs. 38,316.82 Rs. 5,409,433.89 Rs. 47,730
12th Month Rs. 9,479.85 Rs. 38,250.15 Rs. 5,400,020.71 Rs. 47,730
Disclaimer: The information provided in the above table is just for an estimate of the EMI for a loan amount of Rs. 5,500,000 at an interest rate of 8.50% p.a., for 20 years. The Equated Monthly Installments may vary for different loan details.


The current interest rate for a home loan from HDFC starts at 8.50% per annum. 

The 30% EMI rule means the recommended EMI for a home loan must not exceed 30% of the borrower's monthly income. It helps assess the home loan's overall affordability for a borrower. 

The interest rate for a 15 lakh home loan in HDFC Banks starts at 8.50% per annum.

You can reduce your HDFC Bank home loan EMI by renegotiating the interest rate or making a lump sum payment as a prepayment. 

A home loan EMI amortization schedule is a table that clearly outlines the breakup of each EMI payment for the entire home loan tenure.

Yes, a home loan borrower can pay more than the EMI for a home loan at HDFC Bank as a prepayment. 

If a borrower fails to pay the HDFC Bank home loan EMI on time, it may lead to a penalty and might also bring down the credit score of the borrower. 

Calculating the HDFC home loan EMI in advance will help you plan your monthly budget in a better way. You will get a clear idea of how much you are expected to pay for your home loan repayment every month with other financial commitments.