HDFC personal loan EMI calculator: All you must know about it

HDFC personal loan EMI calculator is an important instrument tool available online to assist compute and assessing your EMIs (equated monthly instalments) whenever you want to avail a personal loan. Accordingly, you can determine your loan proceeds and repayment loan tenure you are comfortable with.

A personal loan is a good option to cater to unprecedented and sudden financial requirements. Note that HDFC bank provides personal loans for numerous purposes with zero paperwork or formalities. If you are also looking to avail a personal loan, HDFC Bank personal loan EMI calculator will come across as a help to manage your funds and determine the appropriate loan amount concerning other important factors with ease.

How can you use HDFC personal loan EMI calculator?

HDFC Bank is the country’s top bank today that provides a range of personal loans to its consumers, including personal travel loans, personal marriage loans, debt consolidation personal loans and personal loans for COVID, among others. Quick disbursal, minimal documentation, zero hidden fees, and flexible repayment tenures are a few crucial features that make the personal loan from HDFC attractive. Thus, with numerous options to select from, it is a prudent decision to use HDFC personal loan calculator to make sure your finances are managed well post availing loan.

To use the calculator, ensure to take the listed steps:

  • Go to the bank’s official site
  • Navigate to tab ‘personal’ in the header bar.
  • After this, go to the ‘tools & calculators’ option and choose a personal loan calculator.
  • Once you reach the HDFC personal loan calculator page, fill up the values in the EMI calculator. These values include the loan amount, loan repayment tenure, and interest rate by using the slider on the page.
  • Limits are preset on the calculator – the loan amount falls between Rs 5,000 and Rs 40 lakh, the HDFC Personal Loan Interest Rate lies between 10.50 percent and 21 percent, and the tenure is between 1 and 5 years based upon your loan type.
  • Once you fix the loan values, enter the ‘calculate’ button to instantly get the graphical representation of how your loan EMIs can proceed with respect to the loan amount and repayment tenure.
  • At the top will be the exact EMI you must meet for the loan amount and repayment tenure.

HDFC personal loan EMI calculator formula

When you use your HDFC personal loan calculator, it is crucial to note that the personal loan EMI calculation can be done through the formula:

{P X R (1 + R) ^ N} / {(1 + R) ^ N-1}

Here, the 3 crucial inputs are – principal, interest rate and repayment tenure of loan (in months).

In the personal loan interest rate formula

R = interest rate

N = repayment tenure

P = principal amount

HDFC personal loan EMI calculator – benefits

Here are a few major benefits that consumers can enjoy when using HDFC personal loan EMI calculator:

  • Through the calculator, you can avail the EMI. With the EMI, you can ascertain whether you are eligible for a personal loan.
  • An EMI calculator is an important tool that ultimately assists you to plan as well as budgeting your finances once you have an idea of what EMI you expect every month on a personal loan you avail.
  • Through HDFC personal loan EMI calculator, you can even compare distinct personal loans from sane banks or throughout distinct banks with ease.
  • When you use HDFC personal loan calculator, you see your EMI payments in graphic form, which assists in better understanding as well as decision making.
  • It even is a highly accurate tool based on which you can make your decision because it is 100 percent error-proof. As an outcome, you save yourself from the problem of lengthy calculations. With a personal loan EMI calculator, you can expect accurate results instantly.

Reasons to use HDFC personal loan EMI calculator.

Just by using the HDFC EMI calculator, there is considerable scope for an accurate outcome than manual calculations. It is a complicated calculation with scope for errors when computed on your own. Through the HDFC EMI calculator, you can get the right perspective on your loan EMI in just a few seconds.

Use HDFC personal loan EMI calculator to accurately calculate your EMI based on your budget

Here are a few ways through which you effectively can plan out your EMIs based on your budget with the assistance of the HDFC personal loan EMI calculator:

Loan prepayment

While with a personal loan, you can easily mitigate your monetary needs instantly, it is even a good way to manage your budget and finances in a way that matches your repayment capacity. Note that you always have the option to prepay the money; you can do so whenever you avail of surplus funds.

Manage the loan repayment tenure

In case you are sure that the loan proceeds are fixed, you can use the HDFC personal loan EMI calculator to get the right balance between loan repayment tenures and EMIs. On the extension of loan repayment tenure, you can pay more interest on the loan, but at the same time, your loan EMIs get reduced. With a personal loan calculator, you can figure out the EMI that you simply pay by enhancing your loan repayment tenure on the EMI calculator.

Determining between the fixed and floating interest rate

Use the HDFC personal loan EMI calculator to view how the fixed interest rate impacts your EMI vs how a little reduction in interest rate can bring your EMI down. Accordingly, depending upon the analysis, you can determine which type of rate of interest to avail.

Crucial parameters impacting the HDFC personal loan EMI calculator are:

Here are a few of the crucial parameters that play an important role


Your income plays an important role in deciding your rate of interest on a personal loan or whether you are eligible for the loan. If you have a high disposable income, then you are likely to avail of approval for a bigger loan amount. The logic is extremely simple – individuals with a higher income are likely to return the loan.

Credit score

A high credit score always makes you a better candidate for a loan than if you have a lower credit score. Individuals with a high credit score can even avail a bigger loan amount. Individuals with lower scores are considered risky and may get the loan at a higher interest rate.

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