From standard EMI plans to unique options tailored to your income patterns, HDFC Bank home loan allows you to choose the plan that works best for your lifestyle and repayment capacity, ensuring stress-free home loan management.
How to Repay Your HDFC Bank Home Loan EMI Online via the official website?
Paying your home loan EMI doesn’t need to be complicated, especially with HDFC Bank. Here’s a simple guide to repay your EMIs quickly through their official website:
- Visit the official HDFC Bank Home Loan login page.
- Login using user ID and password. Alternatively you can login using loan account number and date of birth.
- Navigate to the Loans or Manage Your Loan Account section and select your Home Loan account .
- Click Make Payment or Pay Overdue EMI to proceed .
- Confirm the EMI amount (pre‑filled), choose the debit account, and authenticate via the Secure Access System (OTP or hardware token). A digital receipt will be generated instantly.
Suggested Read: HDFC Bank Home Loan CIBIL Score Requirement
How to Repay HDFC Bank Home Loan EMI Online via Mobile Application?
- Download and register on the PayZapp app by linking your HDFC Debit/Credit Card or bank account .
- On the home screen, tap Bills & Recharges, select Financial Services, then Loan .
- Choose HDFC Bank as the lender, enter your Home Loan account number and/or registered mobile number, and tap Continue .
- PayZapp will fetch your EMI details; select your preferred payment method and complete the transaction. You can also set up standing instructions for automatic EMI payments on a fixed date each month.
Suggested Read: HDFC Bank Home Loan Statement Download
How to Repay HDFC Bank Home Loan EMI Online via UPI Applications?
To repay your HDFC Bank Home Loan EMI online via UPI, follow these steps:
Prerequisites:
- Ensure your bank account is UPI-enabled and linked to a UPI app (e.g., Google Pay, PhonePe, BHIM, Paytm).
- Have your HDFC Bank home loan account details handy.
- Sufficient funds in your UPI-linked bank account.
Step-by-Step Process:
- Open the UPI application on your mobile device.
- Navigate to the ‘Loan EMI Payment’ section.
- Select ‘HDFC Bank’ as your lender.
- Enter your Loan Account Number.
- Click on ‘Get Payable Amount’ to fetch your EMI details.
- Choose your preferred payment method (e.g., UPI, debit card, credit card, Paytm Wallet).
- Complete the payment and save the receipt for your records.
Suggested Read: HDFC Bank Home Loan Customer Care
How to Repay HDFC Bank Home Loan EMI Offline?
If you’re someone who prefers making payments in person, HDFC Bank also offers multiple offline options to repay your home loan EMI. These methods are safe, widely accepted, and can be done by visiting authorized branches or through simple banking channels.
| Modes of Offline Payment | Steps & Key Details |
|---|---|
| Post-Dated Cheques (PDCs) | – Submit a series of cheques to HDFC Bank at the start of your loan. – Ensure the cheque date and amount match the EMI schedule. – Mention loan account number on the back. – Collect acknowledgement receipt. |
| Electronic Clearing Service (ECS) | – Fill out the ECS mandate form at your bank. – Submit it to HDFC Bank with bank details. – Monthly EMI auto-debited from your account. – No manual effort required every month. |
| NACH Mandate | – Fill and sign the NACH form. – Authorizes automatic EMI deductions. – Submit it at the branch or through your bank. – Secure and hassle-free recurring payment method. |
| Cash Payment at Branch | – Visit the nearest HDFC Bank branch. – Make payment in cash for the EMI amount. – Get an official payment receipt. – Useful for one-time or overdue payments. |
| Cheque/Demand Draft (DD) | – Write cheque/DD in favor of “HDFC Bank.” – Mention your loan account number on the back. – Drop it at the branch or authorized collection point. – Always collect a receipt for confirmation. |
Suggested Read: HDFC Bank Home Loan Tax Certificate
HDFC Bank Home Loan Repayment Options
When you take a home loan, knowing your repayment options helps you manage finances better. HDFC Bank offers flexible ways to repay your loan:
1. EMIs (Equated Monthly Instalments)
- You repay the loan in fixed monthly instalments.
- Each EMI includes both principal and interest.
- EMIs are auto-debited from your bank account on a set date.
- You can choose a repayment tenure that suits your budget — longer tenure means smaller EMIs, but higher total interest.
2. Part Prepayment
- You can pay a lump sum amount (more than your EMI) toward the loan.
- Helps reduce the outstanding principal faster.
- Leads to either lower EMIs or a shorter loan tenure.
- HDFC Bank usually does not charge fees for part prepayment if it’s a floating-rate loan taken by an individual.
3. Foreclosure (Full Loan Prepayment)
- You can repay the entire outstanding loan amount before the end of the tenure.
- Saves you from paying future interest.
- Ideal when you have a surplus of funds.
- Like part payment, foreclosure charges are usually nil for floating-rate individual loans.
Suggested Read: Top 5 HDFC Bank Approved Properties in Bangalore
HDFC Bank Home Loan Pre-Payment Charges
Depending on the property ownership and the type of loan interest rate (floating or fixed), HDFC Bank charges different prepayment fees and GST may apply.
For Floating Interest Rates
| Loan Type | Prepayment Charges | Additional Notes |
|---|---|---|
| Loans sanctioned to individual borrowers | No prepayment charges | Prepayments (partial or full) can be made without penalty from any source |
For Fixed Interest Rates
| Details | Information |
|---|---|
| Prepayment Charge | 2% of the prepaid amount |
| Applicable On | Loans prepaid through refinance from any Bank/HFC/NBFC/Financial Institution |
| Inclusions | All amounts prepaid during a financial year |
| Exemption | No charges if prepayment is made from own sources |
| Scope | Applies to both partial and full prepayments |
Factors to Consider When Choosing a Home Loan Repayment Option
- Monthly Budget: Choose an EMI that fits comfortably within your monthly income.
- Loan Tenure: A longer tenure reduces EMI but increases total interest outgo.
- Interest Rate Type: Fixed rates offer stability; floating rates may help save if rates fall.
- Prepayment Flexibility: Check if part prepayment or foreclosure is allowed without penalty.
- Income Stability: Opt for flexible plans if your income is variable or business-based.
- Future Financial Goals: Align your repayment plan with other financial commitments.
- Total Interest Payable: Compare repayment options based on total interest over the loan term.
- Charges & Fees: Be aware of hidden costs like processing fees, foreclosure charges, etc.
- Lender’s Terms: Always review the fine print of repayment clauses before signing.
Suggested Read: How Does Foreclosure Affect Your Home Loan Interest?
Is it Better to Prepay your Home Loan or Invest in a Mutual Fund?
| Factors | Home Loan Prepayment | SIP Investment |
|---|---|---|
| Interest Rate vs. Returns | Compare your home loan interest rate (post-tax) with SIP returns. – If loan rate > SIP returns (e.g., loan at 12% vs. SIP at 8%), prepay. – If SIP returns > loan rate (e.g., loan at 8% vs. SIP at 10–12% long-term), invest. | Historically, equity SIPs average 10–12% returns over 5+ years. Returns are market-dependent and not guaranteed. |
| Tax Implications | Loss of tax deductions on home loan interest (if applicable). | Tax-efficient if investing in equity (LTCG taxed at 10% post-₹1 lakh exemption). ELSS SIPs offer tax deductions under Section 80C. |
| Risk Tolerance | No risk: Guaranteed savings via reduced interest. | Market risk: Volatile in short-term but potential for higher long-term gains. |
| Financial Goals | Prioritize becoming debt-free (short-term goals). | Build wealth for long-term goals (retirement, education). |
| Job Security/Income | Safer if income is unstable. | Requires stable income to withstand market volatility. |
| Age/Life Stage | Better for those nearing retirement (debt reduction). | Ideal for younger investors (long compounding horizon). |
| Emotional Factor | Peace of mind from reduced debt burden. | Motivation from growing wealth and financial freedom. |
| Loan Tenure Impact | Prepay early to save more interest. Partial payments reduce tenure. | No direct impact on loan; focus on wealth creation. |
| Emergency Fund | Ensure 6–12 months of expenses saved before prepaying. | Ensure emergency funds exist before investing. |
| Future Credit Needs | – Invest in SIPs if the loan rate is 8–10% (equity outperforms long-term). – Compounding in SIPs can yield a higher corpus over 20+ years. | Closing a loan may affect the credit mix/score. |
| Expert Opinion | – Prepay if the loan rate is high (e.g., 12–15%). – Avoid prepayment if leveraging low-interest loans for real estate gains. | – Invest in SIPs if the loan rate is 8–10% (equity outperforms long-term). – Compounding in SIPs can yield higher corpus over 20+ years. |
Key Takeaways
Prepay If :
- Loan interest rate > SIP returns (post-tax).
- You prioritize stability and debt freedom.
- Uncertain income or nearing retirement.
Invest in SIP If :
- SIP returns > loan rate (e.g., equity SIPs over 8–10% loan rates).
- Comfortable with market risk and focused on long-term wealth.
- Younger with stable income and a 5–10+ year horizon.
Example :
- A ₹50 lakh loan at 9% (20 years) costs ₹76 lakh total. Prepaying ₹5 lakh early saves ₹12+ lakh in interest.
- Investing ₹25,000/month via SIP averaging 12% returns yields ₹3.5 crore in 20 years.
Conclusion
Buying a home is a big step. Getting a home loan can be hard, but we make it easy. At Credit Dharma, we make this possible by offering the lowest guaranteed interest rates that keep your monthly payments manageable, allowing you to enjoy more of what truly matters.
But that is not it. We offer:
- Guaranteed up to 100% funding
- Receive lifetime assistance and expert guidance long after your loan is approved.
- Enjoy a fully digital process with minimal paperwork
- Get your loan approved within just 1-2 weeks.
Frequently Asked Questions
You can request a change in your EMI due date by submitting the “Shift in Due Date” application form at any Retail Loan Service Centre. The bank will process your request, and if your next EMI falls beyond 25 days, PDCs/Debit Instructions will be re‑presented on the revised date.
A late payment penalty of ₹550 plus GST is levied on non‑payment or partial payment of any EMI outstanding, subject to regulatory changes.
Yes, you may prepay or foreclose your home loan at any point, but foreclosure charges of 3 % of the outstanding principal plus GST apply if paid via refinance.
If you use your own funds for prepayment, no penalty is levied after 36 months from loan disbursement.
EMI is computed using the formula E = P × r × (1 + r)^n / ((1 + r)^n – 1), where P is the principal, r is the monthly interest rate, and n is the number of instalments.
This standardised method ensures your monthly obligation remains fixed over the loan tenure.
You can preview your EMI for different scenarios using the HDFC home loan EMI calculator.
Log in to HDFC NetBanking or the standalone Loans Portal to view your loan summary, transaction history, EMI status, and current outstanding balance anytime.
The service is free, secure, and available 24×7, even outside regular banking hours.
You can also request statements or generate account reports online for detailed review.
Missing an EMI may attract a higher interest rate of 1–2 % on the overdue amount and could lead to your name being listed as a defaulter.
Such defaults can negatively impact your credit score and future borrowing ability.
It’s best to contact your Relationship Manager immediately if you anticipate any payment delays.
You may apply for one-time loan restructuring, which can extend your remaining tenure by up to 24 months at the bank’s discretion.
This option helps ease your EMI burden but does not suspend EMIs beyond the sanctioned relief period.
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