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What is the HDFC Personal Loan EMI Calculator?
The HDFC personal loan EMI calculator is a powerful tool designed to calculate EMIs on an HDFC Bank personal loan. It effortlessly determines the monthly repayment amount for your loan. By inputting the loan amount, the chosen repayment period, and the applicable interest rate, the calculator quickly computes your monthly repayment amount or the EMI. The online HDFC personal loan EMI calculator simplifies the process and saves you valuable time. It allows you to ensure that your financial obligations remain balanced by accurately balancing the inflow and outflow of money.
Whether planning a dream vacation, a home renovation, or a wedding celebration, the HDFC personal loan EMI calculator empowers you to make informed decisions. It clearly explains your monthly financial commitment, allowing you to manage your budget effectively. By leveraging the efficiency and accuracy of the HDFC personal loan EMI calculator, you can confidently explore different loan options and customise your repayment plan to suit your needs. It acts as your financial companion, guiding you through the loan journey and enabling you to make sound financial decisions.
How Does the HDFC Personal EMI Calculator Work?
The personal loan EMI calculator considers the loan amount you require, the duration you choose for repayment, and the prevailing interest rate. Considering these crucial factors, it generates an accurate EMI value, giving you a realistic picture of your financial obligations. It lets you plan and ensure the loan comfortably fits your monthly budget.
What is the HDFC Personal Loan EMI Calculator Formula?
The HDFC personal loan EMI calculator formula is given below:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
P is the principal loan amount
R = Rate of interest
N = Duration of the loan
How to Use the HDFC Personal Loan EMI Calculator Online?
The online personal loan EMI calculator on Angel One is easy to use. Below are the steps you must follow:
Access the personal loan EMI calculator on Angel One.
Enter the personal loan amount you wish to borrow.
Specify the loan tenure in years.
Enter the applicable interest rate.
Once you have entered the required information, the HDFC personal loan EMI calculator will calculate your monthly instalments, interest, and total payable amount.
Here’s an example to help you understand it better:
Suppose you want to take a personal loan of Rs. 3,00,000 for 2 years, and the bank charges an interest rate of 11% annually. Your monthly EMIs will amount to Rs. 13,982, while the total payable amount will be Rs. 3,35,576, with an interest of Rs. 35,576.
Benefits of Using Online Kotak Credit Card EMI Calculator
There are several benefits of using a credit card. Some of the benefits are mentioned below:
Saves time: The HDFC personal loan EMI calculator provides a convenient, time-saving solution. It allows you to calculate your EMIs instantly.
Accurate and reliable results: It eliminates human error risk and provides accurate EMI amounts, interest rates, and total repayment figures. The online HDFC personal loan EMI calculator helps you make informed decisions about your loan without doubts or uncertainties.
Flexibility in loan planning: With the HDFC personal loan EMI calculator, you can explore different scenarios and adjust the loan parameters to suit your financial goals. By varying the loan amount, interest rate, and tenure, you can instantly see how these factors affect your monthly EMIs.
Financial transparency: The online HDFC personal loan EMI calculator provides a transparent overview of your loan repayment. It breaks down the monthly instalment into principal and interest components, enabling you to understand the loan's cost structure.
User-friendly interface: The HDFC personal loan EMI calculator is designed with a user-friendly interface. The intuitive design ensures a smooth experience, enabling you to navigate the calculator effortlessly.
Types of Personal Loans Provided by HDFC
HDFC offers the following types of personal loans:
Golden Edge Personal Loan: If you have taken a personal loan from HDFC of over Rs. 10 lakh, you can qualify for the Golden Edge Personal Loan. Moreover, you must be between 21 and 60 years of age, an employee of the public or private sector, and earn a minimum of Rs. 75,000 monthly. Under this personal loan scheme, you can avail of a loan of Rs. 10 lakh to Rs. 40 lakh.
Personal Loan for Women: HDFC offers personal loans to women to fund their higher education, travel- wedding plans, and emergency expenses. They are available at competitive rates and have flexible loan amounts and repayment tenure.
Marriage Loan: You can secure an amount ranging from Rs. 50,000 to Rs. 40 lakh. The loan offers flexibility with a repayment period spanning 12 to 60 months. You must be between 21 and 60 years old to qualify for this loan.
Medical Emergency Loan: You can avail of an emergency loan from HDFC for an amount of Rs. 50,000 and Rs. 40 lakh. This personal loan also has a flexible tenure of 1 to 5 years.
The HDFC personal loan EMI calculator is an online tool that assists you in calculating the EMIs you would pay towards the repayment of your loan.
To use the online HDFC personal loan EMI calculator, visit Angel One and navigate to the calculator. Enter the principal, interest rate, and investment tenure. The calculator will use these values and generate EMIs.
Yes, the HDFC personal loan EMI calculator is free to use. You can use the personal loan EMI calculator multiple times on Angel One website.
The minimum tenure of a personal loan differs from bank to bank. It typically starts from 3 months and can go on up to years.
The interest rate of an HDFC Bank personal loan depends on your income, tenure, credit score,etc.