June 21, 2024
New Delhi
Finance How to

How to Increase EMI of HDFC Home Loan?

Increase EMI of HDFC Home Loan

How to Increase EMI of HDFC Home Loan? Home is more than a place to live. More than that, in fact, it is a cozy, personal space that is catered to your preferences and requirements. It is a place where you can live while both grieving the losses and celebrating the happiness. It might be very challenging to save for your ideal home because buying a property demands a sizable sum of money. When that happens, a mortgage can be useful. 

Read: How To Close RBL Credit Card Permanently?

Read: What is Digital Loan? Benefits & Complete Guide

Equated Monthly installments, or EMIs, are a convenient way to repay a house loan, which is one of its main advantages. However, paying larger EMIs can lower your available income and force you to make significant lifestyle adjustments. Therefore, it’s crucial to estimate your house loan EMI before applying in order to budget your monthly spending. A home loan is a type of mortgage that is offered to both service-class people and self-employed people who want to buy their very own home.

HDFC Home Loan

There is no place like home, and with an HDFC Bank house loan, you may build memories, gather hopes, and realize your ambitions in your own home. To make things easier, you may now apply online for a home-building loan. 

Building a house on an empty plot requires a significant financial commitment. Rapid approvals, a simple application process, affordable interest rates, and minimal paperwork are all features of Aavas home construction loans. 

So, to create the home of your dreams, apply right away for home construction financing from HDFC Home Loan.

HDFC offers enticing interest rates for customers looking to apply for home loans to purchase their homes. These rates are reasonable and provide tempting financing options for terms of up to 30 years.

Eligibility for an HDFC Home Loan

The primary factors used to determine a customer’s eligibility for HDFC home loans are their income and ability to repay the loan. The applicant must not be below 21 years of age or above 65 years of age. 

The income of a salaried person must not be less than Rs. 10000, and those who are self-employed should have an income above Rs. 2 lakhs and above per annum. 

The applicant who is interested in a home loan must be residing in India. Moreover, the applicant’s credit scores, credit histories, and other variables are all taken into account by HDFC Home Loans. These are essential requirements to be eligible to apply for a home loan.

How to Increase EMI of HDFC Home Loan

During the term of a loan, HDFC gives clients the option to increase the EMI at no additional cost. If a customer frequently uses this option, increasing the EMI effectively shortens the loan period and lowers the overall outlay.

Amortization is used to calculate an appropriate EMI and satisfy the customer, according to HDFC. Any change in EMI must be updated in the customer’s account. Amortization is the process of reducing the loan’s value. Financial institutions and other lenders display a loan repayment schedule according to a certain maturity date using amortization schedules. 

Amortization schedules make it clear what percentage of each monthly loan payment goes towards interest against the principal and how much is still owed after each payment has been made. Additionally, it provides guidance on how much interest borrowers might reduce by making extra payments.

Amortisation took place with the appropriate EMI; according to HDFC, any change in EMI must be updated in the customer’s account. All HDFC offices are able to use the service for free. From the day that has been decided upon in this regard by the customer and HDFC, the new EMI is due.

You can use any of the following methods to adjust your loan payback installment:

  • To discuss this issue of increasing EMIs on home loans, speak with your relationship manager.
  • You can contact the HDFC customer care team through email at customerservices.cards@hdfcbank.com, requesting the modification of your EMI payment for your HDFC home loan.
  • You can physically visit the nearby or appropriate branch.
  • You can send an online request for increasing the EMI of your home loan to HDFC Bank.

There is no online method for increasing your EMI on a home loan. You are required to receive the form from the HDFC Bank physically, or if you’d like to download it, go to the website of the HDFC Bank or click on:

  • Form for an increase in HDFC Home Loan EMI
  • After downloading this form, complete it with all the necessary information, including
  • Submit this form at your HDFC bank branch with all the details, such as your name, your account number, your bank number, and other information.

Here’s how to raise the EMI on an HDFC home loan. However, it is advisable to choose an EMI that you can manage. Although a shorter loan term will result in a reduced absolute interest payment, it will also make your EMI payments more onerous. This is why you should always choose your loan EMI amount while keeping affordability as the main consideration.

You can present your most recent loan statement when you visit HDFC Limited or HDFC Local Bank. It must state how much principal and interest have already been paid in addition to the outstanding sum. Your greater income must be verified by the branch manager before you can borrow money of this kind. Once all the prerequisites have been met, you will receive a new loan agreement letter with the revised tenure. 

Any extra payments you make over your regular EMI go towards paying off the principal of your mortgage. Your debt will be paid off faster as a result. Your loan term will be shortened as a result. If you don’t have any additional money and are concerned about paying your bills, you can reduce your EMI.

Benefits of Increasing EMI HDFC Home Loan

If you shorten the duration as your income rises, there are a tonne of savings waiting for you. You can make a better judgment by using an example.

Paying more for your EMI every month compared to the actual one is another simple way to close the loan early. Prepaying a loan in this manner is one of the most popular methods. Your monthly income increases in value over time. You can use the extra money to help pay back the increased loan EMI. Additionally, you can modify the EMI amount by contacting your bank.


Home loans have recently made it possible for millions of people to easily buy the homes of their dreams. Businessmen and independent contractors with solid credit histories are the main target audience for HDFC home loans. However, salaried workers, NRIs, and farmers can also apply for a loan from HDFC if certain requirements are met. 

Prospective borrowers frequently misunderstand the duration and amount of their EMIs. These borrowers would be more successful in repaying their loans if they were aware of the EMI amount. To find out in advance the interest rates, EMI payment, and loan term, use an HDFC Home Loan EMI calculator.

    Leave feedback about this

    • Quality
    • Price
    • Service


    Add Field


    Add Field
    Choose Image
    Choose Video