Check the EMI for your HDFC Personal Loan by providing the Loan Amount, Interest rate (per annum), and loan tenure (in months) details.
|Year||Month||Principal (A)||Interest (B)||EMI (A+B)||Balance||Loan Paid to Date (%)|
The HDFC Personal Loan EMI Calculator is a valuable tool that empowers borrowers to make informed financial decisions. Calculating EMI before applying for a loan gives you clarity about the repayment period. It helps you plan and manage your HDFC personal loan, efficiently.
You can also use the Buddy Loan EMI calculator given above to calculate your HDFC personal loan EMI instantly. Just enter your loan amount, interest rate and loan tenure in months and the calculator will generate the accurate EMI amount!
It is possible to calculate your HDFC personal loan EMI manually without using a calculator. Below is the formula for EMI calculation.
EMI = [P x R x (1+R)^N] / [ ((1+R)^N) - 1]
EMI = Equated Monthly Installment,
P = Principal loan amount,
R = Interest rate, and
N = Repayment tenure in months.
For example, for a loan of ₹5,00,000 with an annual interest rate of 12% and a 5-year tenure (60 months) the EMI can be calculated as:
EMI = [₹5,00,000 x (0.01) x (1+0.01)^60] / [(1+0.01)^60-1]
EMI = [₹5,00,000 x 0.01 x 1.647009] / [1.647009-1]
EMI ≈ [₹5,000 x 1.647009] / 0.647009
EMI ≈ ₹8,235.045 / 0.647009
EMI ≈ ₹12,747
So, the EMI for a ₹5,00,000 loan with an annual interest rate of 12% and a 5-year tenure (60 months) is approximately ₹12,747.
Refer to the table below to see the EMI Calculation for HDFC Personal Loan of ₹1,00,000 at an interest of 11% per annum and repayment tenure from 1 to 5 years.
|Loan Amount (Rs.)||Interest Rate (p.a.)||Tenure (months)||EMI (Rs./month)|
The HDFC Personal Loan Calculator works by using the same mathematical formula mentioned above to calculate the Equated Monthly Installment (EMI) based on the loan amount, interest rate, and tenure provided by the user.
HDFC loan EMI calculator is extremely user-friendly. Follow the below steps to get precise monthly installment figures:
Step 1: Input the desired loan amount.
Step 2: Feed in the interest rate.
Step 3: Specify the repayment period in months.
Step 4: View the results in a clear graphical presentation.
Want to know how Buddy Loan EMI calculator can make your loan experience better? Check out the multiple ways this calculator can be advantageous in your financial planning.
Accuracy: EMI calculators provide precise monthly installment figures, eliminating human calculation errors.
Time-Saving: Calculations that could take a long time manually are done instantly with an EMI calculator.
Comparison: Allows for easy comparison of loan options with different tenures and interest rates.
Budgeting: Helps borrowers determine if the EMI fits comfortably within their budget.
Savings Evaluation: Helps assess the impact of prepayments or changes in loan parameters on the overall cost of the loan.
Quick Decision-Making: Enables borrowers to make informed decisions about loan affordability and suitability.
Like any other loan EMI, HDFC personal loan EMI is also influenced by several factors. Given are the major factors that may affect your equated monthly installments:
Loan Amount: The principal loan amount you borrow significantly impacts the EMI. Higher loan amounts result in larger EMIs.
Interest Rate: A higher interest rate increases the EMI, while lower rates lead to more affordable monthly installments.
Loan Tenure: Extending the loan tenure reduces the EMI amount, but increases the total interest paid. Shorter tenures result in higher EMIs but lower overall interest costs.
Additional Charges: Any processing fees, prepayment charges, or other fees added to the loan can affect the EMI amount.
Credit Score: Your creditworthiness plays a role in determining the interest rate offered by HDFC. A better credit score may lead to a lower interest rate and EMI.
HDFC bank personal loan EMI calculator can help you plan your finances well and make way for a hassle-free loan journey. Read the tips below on how to plan your loan with HDFC EMI calculator.
Precise Loan Assessment: Use the calculator to determine the right loan amount, tenure, and interest rate.
Budget Alignment: Ensure the calculated EMI fits comfortably within your monthly budget.
Comparison of Loan Offers: Utilise the calculator to compare HDFC's various loan options.
Prepayment Strategy: Estimate potential interest savings with the calculator for early repayment plans.
Affordability Evaluation: Understand your loan's affordability by adjusting calculator parameters for informed decisions.
Check other Banks EMI Calculator from below:
|SBI Personal Loan EMI Calculator||ICICI Bank Personal Loan EMI Calculator|
|Kotak Personal Loan EMI Calculator||Axis Bank Personal Loan EMI Calculator|
|Bank of Baroda Personal Loan EMI Calculator||SBI Personal Loan EMI Calculator|
|Canara Bank Personal Loan EMI Calculator||IDFC First Bank Personal Loan EMI Calculator|
|Yes Bank Personal Loan EMI Calculator||Bank of India Personal Loan EMI Calculator|
|IndusInd Bank Personal Loan EMI Calculator||Indian Bank Personal Loan EMI Calculator|
|Standard Chartered Loan EMI Calculator||IOB Personal Loan EMI Calculator|
|UCO Bank Personal Loan EMI Calculator||Citi Bank Personal Loan EMI Calculator|
|Central Bank Personal Loan EMI Calculator||Federal Bank Personal Loan EMI Calculator|
|Bandhan Bank Personal Loan EMI Calculator||RBL Bank Personal Loan EMI Calculator|
Ready to take next step ?
To use HDFC Personal Loan EMI Calculator, visit their website, enter the loan amount, interest rate, and tenure, then click "Calculate" to get the EMI amount. You can also use the Buddy Loan EMI calculator to get accurate results in seconds.
Benefits of using HDFC Personal Loan EMI Calculator include easy and accurate EMI calculation, helping borrowers plan their finances.
You can check out HDFC Personal Loan eligibility along with all the important details about HDFC personal loan here.
Factors affecting HDFC Personal Loan EMI include the loan amount, interest rate, tenure, and any additional charges.
You can apply for HDFC personal loan online via Buddy loan in a few minutes. Just fill the application form and submit. Visit the HDFC website and apply for an instant loan now.
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