# How HDFC Personal Loan EMI Calculator Benefits Customers?

You can use the HDFC bank personal loan for your financial needs and debt payments. As it comes in handy, and can be applied online or offline by both the methods. The EMI at HDFC Bank starts from INR 2,162 because of the HDFC personal loan attractive rate of interest which starts from 10.75% per annum.

The customers can borrow a loan based on their income or credit score. To apply for the HDFC personal loan, you need to have a minimum income of INR 25,000. Higher your income, the more you can borrow from the bank. But, loan approval isn’t the only factor which creates problems. The latter is the big issue which is the EMI payment, for which HDFC Bank has the perfect tool for you which is the HDFC personal loan EMI calculator. See this article below and know about its working and features.

### EMI Calculation

Using the HDFC EMI tool you can find your loan EMI and decide the tenure as per the repayment compatibility so it won’t affect your daily expenses. The HDFC personal loan EMI calculator works in a mathematical expression of P × r × (1 + r)n/((1 + r)n – 1), where P is your loan, r is the interest rate and n is the tenure.

You need to insert the details of your loan in the same manner inside the tool, after which you need to click the ‘calculate’ button. See, the example below to know how it will work.

Suppose, Suman is a salaried doctor and needs a personal loan to plan her vacation. She got in touch with HDFC Bank which provides an eligible amount up to INR 15 lakh. And she applied for INR 8 lakh for which HDFC Bank charges an interest rate of 11.25% per annum. Look at the table below to know her EMI and total interest outgo for the tenure of 5 years.

 Tenure EMI Interest Payment Principal amount Balance amount 1 17,494 83,619 1,26,307 6,73,692 2 17,494 68,653 1,41,272 5,32,419 3 17,494 51,914 1,58,011 3,74,408 4 17,494 33,192 1,76,733 1,97,674 5 17,494 12,252 1,97,836 0

HDFC personal loan EMI calculator gives you a graphical representation of your loan payment by which you can know how much interest or principal you pay for the borrowed amount each year.

### Advantage of using HDFC personal loan EMI calculator

The calculator is designed to be easy-to-use  for customers so that they can find the EMI without any trouble, see the benefits of the HDFC EMI tool.

• Time saving: You can save your time  in calculation and use this online EMI tool by the HDFC bank to know your EMI amount.
• Error-free: The EMI tool doesn’t generate false results and you can compare the EMI amount by doing a manual calculation with the above formula.
• Ease in repayment: It becomes easy for the borrower to pay the loan using any of the payment methods by choosing a suitable tenure when they use the EMI tool.