HDFC Home Loan Calculator

HDFC Home Loan Calculator

hdfc-emi-calculatorHDFC bank is one of the largest financial services providers in India. The parent company Housing development Finance Corporation, was actually meant for providing affordable housing loans are two individuals for fulfilling their dreams of purchasing own house. Today, HDFC bank is trusted by millions of retail customers and individuals for getting affordable house loans on simple and trustworthy conditions.

Home Loan Calculator On HDFC Website

HDFC relies heavily on its robust IT infrastructure for providing fast, reliable and trustworthy customer services and this is one area which can be termed as its USP and differentiates it from its competitors. However, If you search for an online home loan calculator on HDFC website, you may not be able to find a decent and useful online loan calculator there.

The only loan calculator on their website is a Flash version, which just calculates the EMI if you enter the three inputs namely – the total loan amount, the interest rate and the loan period. The default value of the interest rate is taken as 12.25% for all types of loans, which may not always be the case.

The other loan calculator provided by HDFC is on their mobile website. The usability of the online HDFC home loan calculator is still more restricted as it allows you only to enter the loan amount. It calculates your EMI based on an undisclosed rate of interest and a fixed duration of 36 months. You are not allowed to vary the interest rate and the duration of the loan period.

Both these online HDFC home loan calculator, do not create an amortization schedule, which is a must for any decent loan calculator.

Alternative HDFC Home Loan Calculator

There are many websites which allow you to calculate lots of the parameter is about your home loans based on the values entered by you. We advise you, to know the applicable interest rates from HDFC and then use any of these online calculators to get a detailed view of your home loan conditions.

One such calculator is presented below on this page, which allows you to calculate lots of important information like – your scheduled EMI payment, total number of payments, the outstanding loan balance after each EMI installment payment, the interest component in the EMI, the principal repayment component in the EMI, the cumulative interest paid by you tell a particular EMI et cetera.

Download HDFC Home Loan Calculator

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The beauty of this online HDFC home loan calculator is that, it can also adjust itself in case you decide to make extra payments in addition to your scheduled EMI payments. These extra payments can either be in the form of lump-sum payments as and when you have surplus money with you or they can also be in the form of regular payments along with your scheduled monthly EMI payments. By using this online home loan calculator, you can clearly see how these extra payments are reducing the total number of payments, how it is reducing your total interest liability et cetera.

HDFC home loan calculator will also create an EMI payment schedule for you, which will mention the exact date and amount on which you have to make your EMI payment. Knowing about all these details will help you a great deal to plan your finances well and keep things in control.

HDFC Home Loan Calculator – Download Excel Template

We encourage you to download the basic Excel template used to create this HDFC home loan calculator. This will facilitate you to make calculations even when you are off-line and thus will allow you to compare different loan offering at your convenience. Just click on the download link has given earlier in the post.

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Lots of approximations and assumptions have been made while developing the calculators.

Please make your own calculations before making any financial decision.