HDFC Home Loan EMI Calculator

How much will I have to pay every month?
Loan Amount
Rate of Interest
Your EMI Per Month will be
*These calculators are only for illustrative purposes. These figures may or may not be applicable to your particular situation. Magicbricks will not be responsible for any loss or liability arising from the use of these calculators.

HDFC Home Loan EMI Calculator

In the past few years, home loans have empowered millions of individuals to purchase their dream houses without much hassle. HDFC home loans are primarily offered to businessmen and self-employed people having good credit histories. However, even salaried employees, NRIs, and farmers can apply for a loan from HDFC, depending on the fulfillment of specific criteria.

Prospective borrowers are often confused about the EMI tenure and amount. Knowing the EMI amount will help such borrowers to successfully repay their loans. You can use an HDFC Home Loan EMI calculator to know in advance about the interest rates, EMI amount, and loan tenure.

Apply for Home loan
Get Started

Benefits of HDFC Home Loan Calculator

HDFC Bank home loan calculator will allow you to plan your loan repayment. You can change the loan amount, tenure, and interest rates in the home loan calculator to find the best home loan plan for yourself.

  • It is a straightforward and quick online solution to calculate your EMI
  • It will deliver the accurate EMI amount in seconds to help you plan your finances seamlessly
  • It allows you to analyze the various home loan plans and cautiously select the ideal option

How to Calculate HDFC Home Loan EMI?

There is a standardized method to calculate your home loan EMI. However, Magicbricks offers you a free tool that will instantly analyze your home loan scheme. You can fill in the loan details to know your payable monthly EMI.

How to Use Magicbricks' Home Loan EMI Calculator?

Magicbricks Home Loan EMI calculator is extremely easy to use and navigate. Follow these steps to check your EMI –

  • Visit HDFC Bank home loan page
  • Enter your desired borrowing amount
  • Fill in the tenure for which you wish to borrow
  • Enter the rate of interest
  • Click on the option 'Calculate Your EMI'

Home Loan EMI Calculator Formula

Many borrowers rely on the standardized formula for calculating their home loan EMI.

E = P.r. (1+r)^n/([(1+r)^n]-1)

where, P = Loan/Principal Amount
E= applicable EMI
r =rate of interest per month (annual rate of interest divided by 12)
n = tenure or number of EMIs

For example, if any borrower avails a loan of 15 lakh for a tenure of 7 years at a 6.80% rate of interest, the applicable EMI will be –
E = 15,00,000 × .0056(1+.0056)^84/([(1+.0056)^84]-1)

However, you must note that the amount of EMI will remain fixed for home loans having a fixed interest rate. If you have a floating interest rate, you need to calculate the EMI amount each time the interest rate changes.

HDFC Home Loan Amortization Schedule

Typically, Amortization is the process of writing down the value of a loan. The Amortization schedules are used by financial institutions and other lenders to showcase a loan repayment schedule as per a specific maturity date. Amortization schedules clarify what part of loan payment constitutes the interest against principal for each monthly payment and find out the outstanding amount after making the payment each time. It also guides the borrowers with the information on how much interest they can save by making payments additionally.

If you have taken a loan of Rs 15 lakh over a 7-year tenure at 6.80% annual interest, your amortization schedule will look like the following –

Year Opening Balance EMI*12 Interest Paid Yearly Principal Paid Yearly Closing Balance
1 15,00,000 2,69,912 96,667 1,73,245 13,26,755
2 13,26,755 2,69,912 84,512 1,85,400 11,41,355
3 11,41,355 2,69,912 71,504 1,98,408 9,42,947
4 9,42,947 2,69,912 57,584 2,12,328 7,30,619
5 7,30,619 2,69,912 42,687 2,27,225 5,03,394
6 5,03,394 2,69,912 26,745 2,43,167 2,60,227
7 2,60,227 2,69,912 9,684 2,60,227 0

Home Loan FAQs

  • Q. What is HDFC Home Loan EMI Calculator?

    It is a tool that allows you to know the details of your loan payment in advance. The Equated Monthly Installment, commonly known as EMI is directly proportional to your loan amount, the applicable tenure, and the interest rate. Home loans are seen as long-term commitments which makes it essential to plan the whole EMI payment.
    A home loan calculator will provide you with the details of your monthly installments, repayment, interest, and balance amounts.

  • Q. How to use HDFC Home Loan EMI Calculator?

    You need to fill in your loan details including:

    Loan Amount-The desired amount of loan that you want to avail
    Interest rate-The interest rate of HDFC
    Loan Tenure-The tenure for which you want to avail of the HDFC home loan
  • Q. What is a Home Loan EMI Amortization Schedule?

    A home loan amortization schedule shows the reduction in your debt due to regular EMI payments during the loan tenure. It is nothing but a table showing the details of your principal, interest component, repayment amount, and closing balance.

  • Q. How to reduce my HDFC Bank Home Loan EMI?

    You can reduce your HDFC home loan EMI by opting for a higher down payment or choosing a loan repayment option with a longer tenure. You can also negotiate with your bank or choose a step-down EMI scheme.

Contact Us
Have any queries? We'd love to hear from you.
Call us
Request a Call Back

Disclaimer: The information available on this site has been gathered from publicly available sources and is accurate to the best of our knowledge. However, please be aware that the rates and other offers may vary based on your profile and may be subject to change without notice. Therefore, we advise you to verify the information before applying for any loan through this website. Magicbricks accepts no liability for any loss arising from the use of the information on this website. Refer T&C for the detail.
(T&C link:

**This service is available in select cities only.

*These calculators are only for illustrative purposes. These figures may or may not be applicable to your particular situation. Magicbricks will not be responsible for any loss or liability arising from the use of these calculators.