The EMI for a ₹20 lakh Home Loan will depend on factors like the interest rate, type of interest rate and loan tenure. You can calculate the EMI amount on an EMI calculator for a Home Loan based on the details specific to your Home Loan.

The formula for EMI Calculation is - 

• P x R x (1plusR)^N / [(1plusR)^N-1] where- 

• P = Principal loan amount 

• N = Loan tenure in months 

• R = Monthly interest rate 

• The interest rate (R) on your loan is calculated monthly. 

• R = Annual Rate of interest/12/100 

If the ₹15 lakh Home Loan is approved at a 9% interest rate (assuming it is a fixed interest rate) for 20 years, the EMI will be ₹15,214.

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. The EMI comprises of the principal and interest components which are structured in a way that in the initial years of your loan, the interest component is much larger than the principal component, while towards the latter half of the loan, the principal component is much larger.

EMI's begins from the month subsequent to the month in which disbursement of the loan is done. For loans for under-construction properties EMI usually begins after the complete home loan is disbursed but customers can choose to begin their emi’s as soon as they avail their first disbursement and their EMI’s will increase proportionately with every subsequent disbursement. For resale cases, since the whole loan amount is disbursed in one go, EMI on the whole loan amount start from the subsequent to the month of disbursement

Pre-EMI is the monthly payment of interest on your home loan. This amount is paid during the period till the full disbursement of the loan. Your actual loan tenure — and EMI (comprising of both principal and interest) payments — begins once the Pre-EMI phase is over i.e. post the loan has been fully disbursed.

Yes. You can do so by visiting your nearest HDFC Bank branch.

A home loan is usually repaid through Equated Monthly Instalments (EMI). The EMI comprises of the principal and interest components which are structured in a way that in the initial years of your loan, the interest component is much larger than the principal component, while towards the latter half of the loan, the principal component is much larger.

For your convenience, HDFC Bank offers various modes of repayment of the home loan. You may either issue post-dated cheques or standing instructions to your banker to pay the installments through ECS (Electronic Clearing System) from your Non-Resident (External) Account / Non-Resident (Ordinary) Account in India. Cash payments will not be accepted.

For details on penalty for delayed payments and cheque bounce charges, please refer to the information on our specific product pages

Home loans are availed either for purchase of an under-construction or a ready property from a developer, purchase of a resale property, to construct a housing unit on a plot of land, to make improvements and extensions to an already existing house and to transfer your existing home loan from a financial institution to HDFC Bank. Click here to know what is a home loan

A HDFC Bank Home Loan provides numerous benefits such as facility to apply online, quick loan processing, attractive interest rates, customized repayment options and simple & hassle-free documentation.

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 the case of construction, home improvement and home extension loans, 75 to 90% of the construction/improvement/extension estimate can be funded.

You can avail a HDFC Bank home loan online in 4 quick and easy steps:

1. Sign Up / Register
2. Fill in the home loan application form
3. Upload Documents
4. Pay Processing Fee
5. Get Loan Approval

You can also apply for a home loan online. Visit https://portal.hdfc.com/ to apply now!

HDFC Bank will determine your Home Loan Eligibility largely by your income and repayment capacity. Other important factors include your age, qualification, number of dependants, your spouse's income (if any), assets & liabilities, savings history and the stability & continuity of occupation.

You can apply for a pre-approved home loan which is an in-principal approval for a loan given on the basis of your income, creditworthiness and financial position. Generally, pre-approved loans are taken prior to property selection and are valid for a period of 6 months from the date of sanction of the loan .

HDFC Bank 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.

• The following types of Home Loans products are usually offered in India by Housing Finance Institutions