If you take a ₹25 lakh home loan from HDFC Bank for 25 years, you will have to pay a monthly EMI of approximately ₹20,554 at an interest rate of 8.75%.
The dream of affordable housing is cherished by every middle-class family, but due to rising property prices, taking a Home Loan has become necessary today. If you are planning to take a ₹25 lakh home loan from HDFC Bank, a leading private bank in India, for a period of 25 years, this news contains important information for you.
EMI and Interest Calculation
HDFC Bank offers Home Loans at a starting interest rate of 8.75%. This rate may vary depending on the loan amount and your CIBIL score. If you take a loan of ₹25 lakh for a period of 25 years, your monthly EMI will be approximately ₹20,554.
Over the entire tenure, you will repay ₹61.66 lakh to the bank, of which approximately ₹36.66 lakh will be interest. This means you will pay significantly more in interest than the principal amount.
Why Choose HDFC Bank?
Competitive interest rate starting from 8.75%
Flexible tenure up to 30 years
Customized EMI based on CIBIL score
Quick loan disbursal and easy documentation
Important Tips
Always check your loan repayment plan beforehand using an EMI calculator.
Try to make pre-payments or part-payments as soon as possible.
Maintaining a good CIBIL score can reduce the interest rate.
If you are thinking of buying a home, understanding EMI and interest calculations is crucial to effectively manage your financial plan.
