Tuesday, 22 August 2017

For your home loan endeavor use the EMI calculator.

Most of us always try to plan our things accordingly, that helps us to be prepared with the back-up plans when required. Then how come the biggest venture of your life, the home loan endeavor can go unplanned? HDFC EMI calculator is the perfect tool for people who believe in planning before executing. Unplanned loan tenure can dent your finances and increase your loan burden. For taking a wise and informed decision you need to plan properly. The borrower needs to evaluate his affordability before taking the loan, so that he doesn’t end up in financial crisis staking his property and future. This tool can be of great help for your home loan venture and evaluating your affordability as the borrower.

One can use this online tool anytime free of cost to get the EMI value for repaying his home loan. The home loan comprises of accrued interest for a stipulated period of time. It’s best to know your capacity before taking the loan and enjoy your new home peacefully without straining yourself with the EMI every month, especially when other financial emergency knocks. This calculator helps you to take a step ahead in deciding on the home loan for which the borrower wants to apply.

Some of the benefits of HDFC EMI CALCULATOR are as follows:
  • Your EMI calculation is done within few seconds.
  • Different combinations of principal amount, interest rates and loan tenure can be tried.
  • The calculator is easy to use.
  • Error free calculations of the inputted figures.
  • You can use the calculator free of cost 24*7days owing to online availability.


The technology advanced generations have enough money, but they don’t have time to spare. Remember hard earned money is valuable for everyone and we must make sure that we don’t decide anything in haste that may affect our financial profile. In many instances we see that, tempted by lowering rates people make haste in buying a property, without any plans. When the market condition fluctuates their monthly budgets are very badly affected because of an unplanned decision.

In case of a planned borrower who had calculated the EMIs earlier, they can adjust the financial sails according to the market flow and very easily pass through the phase with little adjustment which is better than struggling with the fluctuations.

The calculator can give you the scope to craft your loan term according to your financial profile and affordability. You can take few steps to reduce your interest cost like:
  • Increase the down-payment amount.
  • Decrease the loan tenure.
  • Try to increase the monthly EMI with increase in affordability.


Before taking the loan just utilize your day off in doing some online research about the financers and their home loan nitty gritties after that calculate your EMI with the property price excluding the margin money, present interest rates and the loan term. With rough idea you can plan your loan term perfectly. Utilize the tool for your own benefit and enjoy building home from the concrete structure of a house with your loved ones.

Thursday, 17 August 2017

Here are 5 things to do before applying for a home loan.

Most major life events call for preparations. In our childhood, we prepared months in advance for our exams. Athletes prepare themselves before a major event; we prepare ourselves before an interview, so on and so forth. The truth is preparation ensures better execution and this hold true for many walks of life, even when applying for a home loan. In fact, sound preparation will ensure a home loan journey without any unexpected hiccups. This article will give you 5 ways to prepare yourself for a home loan.

The approval of HDFC home loan is highly dependent on your credit score. Therefore the first thing to do is work on your credit score. Check your credit score independently, see where you stand and then make plans to improve it. One way to do this is to make your credit card payments on time. If you have any debts, make sure these payments are also made on a timely basis. Try to stay under the credit card limit and use your oldest credit card whenever possible. Working on your credit score before applying will ensure your home loan application is approved in a speedy manner, it might also bring down your interest rate, or at least it gives you the power to negotiate it.

The next thing you can do is start saving for your down payment well in advance. Larger down payments will again speed-up the approval process. It will also lighten the burden of your home loan with a smaller EMI. Also since the interest is calculated on the loan amount, having larger down payment also helps you save on interest payable. After all, saving on your own is much better than borrowing and owing more.

The next step is to compare the providers of HDFC home loan. See their interest rates, their charges, their tenures, etc. This will allow you to choose from the best. Just finalizing on any lender might land you in jeopardy later on and force you to go for a complex balance transfer process to switch to another lender.

Once you’ve done the above two things, you can then use an EMI calculator to plot the repayment schedule of your home loan. Remember, HDFC HOME LOAN requires a lot of planning and the base to this planning is an EMI calculator. It will provide you a near-accurate EMI amount basis your loan amount and tenure. Key-in these details and hit enter, it should provide you the complete amortization break-up of your repayment schedule. Armed with these numbers you can budget your monthly income to cover your EMI without straining your lifestyle costs.

Lastly, you should read the offered documents carefully. Try consulting a financial expert to help you better understand the terminologies and intricacies of the document. Leave nothing to chance and understand everything before you sign your name on the dotted line.

Following these few tips before applying for HDFC home loan could help you with a smooth home loan process without any unexpected bumps.

Thursday, 10 August 2017

After all the hard-work you deserve your own home

Home is a place where you bask in the affection and care of your family members, basking under one’s own roof can give unparalleled sense of accomplishment and security. When the property prices are increasing like the speed of a new SUV car, buying a home all by ourselves is not a cup of tea for the middle class strata of the society, which is the majority count. But home is something that is not only for your comfort, it is a necessity. After working so hard; every individual deserves to own a home for their family. The government and bank policies are making every conscious effort to help the common men to get their home with a home loan.

Every individual is unique, similarly the requirement of each borrower is different; to cater to different need financers are providing different home loan. You can get a home loan for buying a ready flat, resale property, under-construction property, a plot of land or to build a concrete structure on a plot of land and to extend or renovate an existing property. Your savings habit from the very beginning of your career can get you a good credit score to get a suitable loan. Another benefit you get by saving early is that you can save lump sum amount for your down-payment. Both these factors can not only help in your loan process but it will also help you to get a fair rate of interest and maximum loan amount according to the loan amount slab.\

Home loan are creating revolution in this age of zooming property price. Most of the salaried or self-employed people prefer home loan for funds to purchase their home. Why should they not? Because they can avail several of benefits like:
  • Get lump sum amount of money to buy their selected property.
  • With the lowest interest rate in the history of home loan, the interest cost has reduced.
  • They get loan tenure of maximum of 30years to repay their debt.
  • Get a tax benefit on the paid interest.


When you are getting the scope to buy your property by repaying your EMIs in time, then it’s wise to go for a loan while enjoying the benefits. The EMIs can easily adjust with your monthly budget, which is bit more than the monthly house rent you pay.

Before getting the home loan select your financer diligently after doing in depth online research and visit at least two to three financers, that are established and RBI authorized. Then compare the interest rates, processing and other charges, loan tenure, loan amount disbursement timing and debt repayment options.

If you consider few things, then you can ease off the debt burden, try to cut short the interest cost by paying maximum margin money, lessen the loan tenure and to some extent the rate of interest also plays a role, take the adjustable rate which is lower than the fixed rate. A tip for the potential borrower is that only go for adjustable rates if you can afford the rates when it increases depending on the market health.

Wednesday, 9 August 2017

EMI Calculator: the user friendly budgeting tool.

Home loans have made it easier for all the people from every strata of the society to own a home according to their financial profile. The people with a fixed source of income keep the home buying wish in the back burner owing to ever rising property prices. Earlierthey used to guesstimate the home buying expenses and kept on postponing the plan. Nowadays the lower home loan interest rates are encouraging the potential homebuyers to invest in the immovable properties. But some fence sitter possible borrowers are still waiting for the rates to come down, this happens when you cannot craft your budget accordingly. The online EMI Calculator in the financers’ websites and the aggregator sites can help you in crafting your debt repayment according to your affordability and financial profile.

When you plan to purchase a home you must ask yourself one thing; “are you loan ready?” if the answer is ‘yes’ then confirm the basics of a home loan. Some basic features are:
  • You must have a good credit score.
  • Maximum amount to pay the down payment.
  • A stable job and monthly source of income to complete the tenure without being a defaulter.
  • Keep in mind that the EMIs may absorb 30-40% of your monthly income, prepare yourself in such a way that your other financial commitments should not suffer for your loan term.


Getting a home loan is not a difficult task owing to numerous financers available in the market and the easy RBI & government policies, which are crafted for the borrowers’ convenience. But the loan repayment tenure can be exhaustive in case your monthly budgets are not set according to your EMI. To set the budget you need to calculate the EMI accurately but the manual calculations are generally confusing task, as a result chances of some loophole remains. To help the borrowers and help them in setting the budget, the financers are providing online EMI Calculator in their webpage. It is a tool to make the EMI calculations easier for the potential borrower.

You have to enter three figures in the given calculator, for calculating your EMI: the balance loan amount, interest rate and the loan term/number of installments. When you use the EMI Calculator you get few benefits like:
  • The mind boggling calculations are done within a wink.
  • The EMI values you get are accurate, depending on the inputs you feed in.
  • Before hand EMI calculations help to craft your monthly budget accordingly.
  • You can try different combinations of loan amount, tenure and interest rates, which would have been a difficult task in case of manual calculations.
  • You get an amortized table for your remaining EMIs.


Home loan is a matter of lump sum amount, if it is planned and crafted accordingly then you can minimize the interest cost. For example if you take the loan for short tenure, though you have to pay high EMIs but the interest cost is reduced. Similarly if you take loan for lesser amount by paying maximum amount as down payment then the interest cost is reduced. With the help of EMI Calculator your term hassle-free.