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This will ensure that the funds you have kept aside for your EMI payments are not impacted in case you face such a situation. Each EMI is made up of interest payable on your loan and part principal repayment. HDFC says any change in EMI needs to be updated in the customer’s account so that the Amortisation can happen with the right EMI.
EMI calculator also provides an amortization table elucidating the repayment schedule. HDFC’s home loan calculator provides a complete break-up of the interest and principal amount. Our tailor made home loans caters to customers of all age groups and employment category.
What is a pre-EMI interest on a home loan?
Customers typically choose prepayment when they have more money. For your convenience, HDFC offers various modes for repayment of the home loan. You may either issue post-dated cheques or standing instructions to your banker to pay the installments through ECS from your Non-Resident Account / Non-Resident Account in India.
You are required to pay 10-25% of the total property cost as ‘own contribution depending upon the loan amount. 75 to 90% of the property cost is what can be availed as a housing loan. In case of construction, home improvement and home extension loans, 75 to 90% of the construction/improvement/extension estimate can be funded. HDFC’s EMI calculators give a fair understanding about the ratio of the principal amount to the interest due, based on the loan tenure and interest rates.
Interest Rate Range for the past quarter for advances granted to individual borrowers
If the home loan is being prepaid after 36 months, no charges will be levied. For individual borrowers, for balance transfer or refinancing, 2% of the amount being prepaid in addition to the applicable taxes and other statutory charges will be levied. They are known for providing easy loans with instant approvals and low-interest rates. You can get a Home Loan, Personal Loan, Car loan and many more from HDFC. But if you are worried about the complicated EMIs then Paytm brings you with an easy Loan EMI payment service. EMI refers to the ‘Equated Monthly Installment’ which is the amount you will pay to us on a specific date each month till the loan is repaid in full.
When a customer increases the EMI, the loan term gets reduced, which in effect reduces the total outflow substantially if the customer regularly exercises this option. Additionally, determine whether investing in MFs is more advantageous than foregoing interest payments or foreclosure. HDFC disburses loans for under construction properties in installments based on the progress of construction. Every installment disbursed is known as a 'part' or a 'subsequent' disbursement. After getting an estimate of EMI using the calculator, you can apply for a home loan online from the comfort of your living room easily with Online Home Loans by HDFC.
HDFC provides several modes through which home loan customers can pay their EMIs.
An online EMI calculator is easily accessible online from anywhere. You can try various combinations of the input variable as many times as required to arrive at the right home loan amount, EMIs, and tenure best suited to your needs. This option provides you the flexibility to increase the EMIs every year in proportion to the increase in your income which will result in you repaying the loan much faster.
HDFC offers various repayment plans for maximizing home loan eligibility to suit diverse needs. Home Loan EMI Calculator assists in calculation of the loan installment i.e. It an easy to use calculator and acts as a financial planning tool for a home buyer. Taking a home loan during your 20s or 30s gives you sufficient time to pay off your home loan before retirement. Besides, you have the option for a longer tenure home loan, which, in turn, implies a lower EMI for the same loan amount.
Applying for a home loan - online vs offline
The service is provided across all HDFC offices without any cost. The new EMI becomes payable with effect from the date that is agreed upon between the customer and HDFC in this regard. HDFC also allows bulk payments where Deduction at Source facilities are available from the customers’ employers.

It includes repayment of the principal amount and payment of the interest on the outstanding amount of your home loan. Most of us think of a housing finance company when we want a home loan – and it’s only logical to... Home loans with fixed interest rates come with a prepayment penalty.
Ensuring timely payment of your EMI helps you escape any extra charges arising out of delayed payments and protects your credit score. Within the first six months of the loan, there will be a two per cent prepayment penalty for prepaying an HDFC home loan. There will also be applicable taxes, statutory levies, and charges. After the loan is paid, the bank will provide you with all of your original property documents and certify that you are the legal owner of the property and that it is no longer subject to amortisation. Additionally, make sure you carefully save the bank paperwork that serves as evidence of loan repayment. You can use the same in the event of a disagreement at a later time.
This helps estimate the loan amount that can be availed and helps in assessing the own contribution requirements and cost of the property. Therefore knowing the EMI is crucial for calculation of home loan eligibility and planning your home buying journey better. When you are closer to completing your home loan repayment, the situation reverses, i.e. the principal repayment component of your EMI is higher while the interest component becomes lower. HDFC provides several modes through which home loan customers can pay their EMIs.
Being a homeowner is one of the most fulfilling experiences for most people. Since this requires a large capital outlay, it makes sense to take a home loan to meet the purchase value of the home. This not only does away with having to wait for years to accumulate the necessary amount to purchase your home, a home loan also provides attractive tax benefits. Make sure you have an emergency fund so that your EMI payments are not impacted in case you face such a situation.

“Differential amounts for more than a month can be aggregated and paid through a single cheque in advance,” says HDFC.
I declare that the information I have provided is accurate & complete to the best of my knowledge. I hereby authorize HDFC Ltd. and its affiliates to call, email, send a text through the Short messaging Service and/or Whatsapp me in relation to any of their products. The consent herein shall override any registration for DNC/NDNC. Loan against property gives you access to immediate funds by placing your property as collateral... It makes sense to take a home loan to meet the purchase value of the home.
For this, fresh authorisations are required to be signed and differential payment has to be done till the time the new instructions are implemented. HDFC says on its official website that in the case of electronic methods, collection of the revised amount usually happens from the next month. Customers are required to pay the differential amount separately for the current month. The bank will determine the total amount owed, including any applicable interest and penalties. The bank will send you an acknowledgement letter after the whole sum has been paid off to them.