Every person wants to have his own house but buying a house is not an easy task. Lakhs of rupees are needed to buy a house. In such a situation, even a common man’s lifetime earnings fall short of buying a house. In such a situation, some people take a home loan from the bank to buy their own house, after which they pay the price of their house a little every month. However, on taking a home loan, you have to pay a lot more money than the price of the house.
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Different banks of the country offer home loans to their customers at different interest rates. In such a situation, you should take a home loan from a bank that offers home loans at a low interest rate. Today we will tell you about the home loan of HDFC Bank, one of the largest private banks in the country. We will tell you how much money you will have to pay as EMI on taking a home loan from HDFC Bank. Let us know.
HDFC Bank Home Loan
HDFC Bank offers home loans to its customers at a very good interest rate. You can take a home loan from HDFC Bank at an initial interest rate of 8.75 percent. This interest rate can also change depending on the loan amount and your CIBIL score.
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Monthly EMI on a home loan of Rs 25 lakh from HDFC Bank
If you take a home loan of Rs 25 lakh from HDFC Bank for 25 years, then you will have to pay Rs 20,554 every month as EMI at an interest rate of 8.75 percent. In this way, you will give a total of Rs 61,66,077 to the bank in 25 years. In this, Rs 36,66,077 will be only for your interest.
