Hinduja Housing Finance EMI Calculator

Offering housing loans with a rate of interest of 10.50% per annum, Hinduja Housing Finance Ltd. has emerged as a popular choice among home loan borrowers in India. Prospective home loan borrowers can easily check the payable monthly repayment installments on their home loan using the online Hinduja Housing Finance EMI calculator, where they just need to add three main details: loan tenure, loan amount, and rate of interest. Let us help you understand all about the use of the Hinduja online EMI calculator, its benefits and factors that 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 Housing Hinduja Housing Finance EMI?

Calculating the monthly installment payable on a home loan is no rocket science. You can do it manually or make it even simpler by using the online Hinduja Housing Finance EMI calculator. These online calculators provide accurate results instantly, and the user can try it multiple times from anywhere and anytime.

Hinduja Housing Finance EMI Calculator Formula

The Hinduja Housing Finance calculator online can help you plan your monthly budgets well, where you are fully aware of how much you need to pay as repayment on a home loan. The Hinduja Housing Finance calculation formula is easy to understand and is mentioned below for your convenience:

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

Here,

P is a short form for Principal Loan Amount
R is a short form for Rate of Interest 
N is a short form for the Number of installments

Factors Affecting Hinduja Housing Finance EMI

Home loan EMI is largely impacted by three main loan factors. Let us acquaint you with these three Hinduja Housing Finance criteria, which can increase or decrease your home loan EMI:

Principal Loan Amount: Borrowers who apply for higher loan amounts will have to repay in the form of higher EMI installments. So, in short, the higher the loan amount, the higher would be its repayment installments.

Interest Rate: The reason why every home loan applicant looks for a lower rate of interest on a housing loan is that he/ she wants to pay a lower EMI to repay the loan amount. So, to sum up, a higher rate of interest on home loans incurs higher EMI repayments and vice versa.

Tenure: The 3rd crucial home loan factor that impacts the EMI is the loan tenure or duration. Home loans with longer tenures incur lower EMI, however, gradually the interest payable increases. 

Benefits of Using Hinduja Housing Finance Calculator

What are the benefits of the Hinduja Housing Finance Equated Monthly Installments calculator? If you are not yet aware, then continue reading to learn about the same:

Time-Saving: Why think of manual calculations in today’s busy life, when things like calculating home loan EMI can be done within a fraction of a second using online EMI tools such as the one available at the BASIC Home Loan website: https://www.basichomeloan.com/em.

Precise Calculations: By providing the right details in terms of the loan principal amount, rate of interest, and loan tenure, an interested borrower can easily get precise and accurate information regarding the payable EMI through these online tools. 

Clarity for Financial Planning: Another big plus point of using the online EMI tool for home loan calculations is that it helps the borrower get clarity for monthly financial planning. He/ she can get an idea of whether the loan is affordable or should the loan amount be decreased to make it more affordable.

Hinduja Housing Finance Interest Calculator Formula

The Hinduja Housing Finance interest rate calculator is a fantastic and user-friendly tool that housing loan applicants can use to easily calculate the interest payable on a home loan. Otherwise, there is always an option to calculate it manually using a math formula. You will get more clarity on how to use the Hinduja home loan rate of interest calculator formula mentioned below:

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

Here,

P is a short form for Principal Loan Amount
R is a short form for Rate of Interest 
T is a short form for Tenure 

Hinduja Housing Finance Eligibility Criteria

Banks and NBFCs have set some eligibility criteria to allow applicants to get home loans. Using the Hinduja Housing Finance eligibility calculator online, you can easily cross-check whether you are eligible to apply for a home loan from this renowned housing finance company. Some of the general eligibility criteria this tool asks an interested applicant to fill in are age, income, credit score, nationality, and work experience. 

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Comparison of Hinduja Housing Finance EMI with other Popular Banks

A little bit of comparison is always good as it boosts your confidence in applying for a home loan from your chosen NBFC. If you are about to apply for a Hinduja Housing Loan, then we are ready to help you with a comparison table showing the payable EMI for Hinduja Home Loan and other competitors for the duration of a 10-year loan term, so that you can make an informed decision. 

Bank Name Rate of Interest Rs. 10 lakhs Rs. 20 lakhs Rs. 30 lakhs Rs. 40 lakhs Rs. 50 lakhs
Hinduja Housing Finance 10.50% p.a. onwards Rs. 13,493 Rs. 26,987 Rs. 40,480 Rs. 53,974 Rs. 67,467
Federal Bank 8.80% p.a. onwards Rs. 12,560 Rs. 25,119 Rs. 37,679 Rs. 50,238 Rs. 62,798
Shriram Housing Finance 9.50% p.a. onwards Rs. 12,940 Rs. 25,880 Rs. 38,819 Rs. 51,759 Rs. 64,699
India Shelter 10.50% p.a. onwards Rs. 13,493 Rs. 26,987 Rs. 40,480 Rs. 53,974 Rs. 67,467
Piramal Housing Finance 11.00% p.a. onwards Rs. 13,775 Rs. 27,550 Rs. 41,325 Rs. 55,100 Rs. 68,875
Motilal Oswal Housing Finance 11.75% p.a. onwards Rs. 14,203 Rs. 28,406 Rs. 42,609 Rs. 56,812 Rs. 71,015
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Hinduja Housing Finance Amortization Schedule

Hinduja Housing Finance Amortization Schedule is a crucial financial tool that can help borrowers to understand the different portions of the repayment structure of their housing loan. This table outlines the periodic payments required to repay the loan, breaking down each installment into interest and principal components over the entire loan duration. 

Steps to Calculate Hinduja Home Loan Amortized Interest

Step 1: First of all, divide the interest rate on the Hinduja home loan by the total EMIs you decide to pay per annum. Like, if you have a 10.50% p.a. rate of interest and you prefer making monthly repayments, then you divide 10.50% by 12 = 0.0088

Step 2: Then proceed by multiplying this number with your outstanding loan amount to calculate the monthly interest payable. Like, if your home loan amount balance is Rs. 6,000,000, the interest for the first month would be 6,000,000 x 0.0088 = Rs. 52,800

Step 3: In the next step, deduct the monthly interest you calculated above from your fixed monthly installment and you will get the principal payable in the 1st month. Like, if your monthly EMI is Rs. 59,903, you will pay Rs. 59,903- Rs. 52,800 = Rs. 7,103 as the loan principal amount, and this amount will be deducted from your outstanding home loan balance for calculating the same for the subsequent months

Step 4: Repeat these steps to calculate the interest, outstanding loan amount, and principal for each coming month

To understand it better, please go through the Hinduja Housing Finance Amortization Schedule 2024 below:
Year/Month Principal Amount Interest Loan EMI
2024 Rs. 93,238.42 Rs. 625,597.58 Rs. 6,000,000.00 Rs. 718,836.00
2nd Month Rs. 7,467.78 Rs. 52,435.22 Rs. 5,992,597.00 Rs. 59,903.00
3rd Month Rs. 7,533.12 Rs. 52,369.88 Rs. 5,985,129.22 Rs. 59,903.00
4th Month Rs. 7,599.03 Rs. 52,303.97 Rs. 5,977,596.10 Rs. 59,903.00
5th Month Rs. 7,665.53 Rs. 52,237.47 Rs. 5,969,997.07 Rs. 59,903.00
6th Month Rs. 7,732.60 Rs. 52,170.40 Rs. 5,962,331.54 Rs. 59,903.00
7th Month Rs. 7,800.26 Rs. 52,102.74 Rs. 5,954,598.95 Rs. 59,903.00
8th Month Rs. 7,868.51 Rs. 52,034.49 Rs. 5,946,798.69 Rs. 59,903.00
9th Month Rs. 7,937.36 Rs. 51,965.64 Rs. 5,938,930.18 Rs. 59,903.00
10th Month Rs. 8,006.81 Rs. 51,896.19 Rs. 5,930,992.81 Rs. 59,903.00
11th Month Rs. 8,076.87 Rs. 51,826.13 Rs. 5,922,986.00 Rs. 59,903.00
12th Month Rs. 8,147.55 Rs. 51,755.45 Rs. 5,914,909.13 Rs. 59,903.00
Disclaimer: The above table aimed to acquaint you with an estimate of EMI for a housing loan amount of Rs. 6,000,000 at a 10.50% interest rate for 20 years. Please note these numbers can change with the change in these loan factors.

FAQs

The Hinduja Home Loan EMI calculator is 100% accurate provided you enter the right details to check the EMI calculations. 

The three main details required for using the Hinduja Housing Finance EMI calculator are the loan amount, loan tenure, and the rate of interest.

The maximum tenure on the Hinduja Housing Finance EMI calculator is 30 years. 

As such there is no lowest interest rate value on the Hinduja Housing Finance EMI calculator and the borrower can fill in any rate of interest to check the EMI payable.

A borrower can pay Hinduja Housing Finance EMI online through net banking, debit card and UPI.