Home > Calculators > EMI Calculators > HDFC Personal Loan EMI Calculator
HDFC Bank Personal Loan EMI Calculator: Plan Your Loan Repayments with Ease
Use the HDFC Bank Personal Loan EMI Calculator to quickly calculate your monthly repayment amount. Whether you're borrowing for personal needs, medical emergencies, or any other reason, knowing your EMI helps you manage your finances more effectively and avoid surprises. With the HDFC Bank EMI calculator, you can easily estimate your loan details and make informed decisions about your personal loan.
Calculate Your HDFC Bank Personal Loan EMI
Fill in the details below to get your EMI estimate:
- Loan Amount: The total loan amount you wish to borrow.
- Interest Rate: The interest rate charged by HDFC Bank for personal loans, which typically varies based on your credit score and loan eligibility.
- Loan Tenure (in years): Choose the duration of the loan, typically ranging from 12 months to 60 months.
Once you enter these details, the calculator will provide you with an accurate EMI and total repayment figure.
Your loan estimate
Monthly payment
Total Principal
Total interest payments
Total loan payments
Payoff date
Processing Fee
Cost Of Loan
APR
%
The calculations provided are for illustrative purposes only. Actual loan terms may vary based on the lender’s policies and your credit profile.
Updated Oct 14, 2024 · 3 min read
Written By: Shanti Singh
Lead Writer 
Edited by Priya K.
Fact Checked
Key Features of HDFC Bank Personal Loan EMI Calculator
| Loan Type | Interest Rate | Loan Tenure | Processing Fees |
|---|---|---|---|
| Personal Loan | 10.50% to 21.00% p.a. | 12 months to 60 months | 1% to 2.5% of loan amount |
Factors Affecting Your EMI and Total Repayment
- Loan Amount: A larger loan amount means a higher EMI unless you extend the tenure. Ensure you borrow only as much as you need to avoid overburdening your finances.
- Interest Rate: A lower interest rate will result in a lower EMI. Your rate may vary depending on factors such as your credit score, income level, and existing relationship with the bank.
- Loan Tenure: The longer the loan term, the lower the EMI, but the total interest paid increases. Select a tenure that suits your monthly budget while considering the total interest burden.
- Processing Fees: HDFC Bank charges processing fees ranging from 1% to 2.5% of the loan amount. These fees should be factored into the overall cost of borrowing.
How Loan Tenure Affects Your EMI and Total Repayment
Your loan tenure has a significant effect on both the EMI amount and the total repayment:
| Loan Tenure | Monthly EMI | Total Interest | Total Repayment |
|---|---|---|---|
| 1 year | Higher EMI | Low Interest | Lower Total Repayment |
| 2 years | Moderate EMI | Moderate Interest | Moderate Total Repayment |
| 3 years | Lower EMI | Higher Interest | Higher Total Repayment |
| 5 years | Very Low EMI | Much Higher Interest | Much Higher Total Repayment |
- Shorter Tenure: The monthly EMI is higher, but the overall interest paid over the term is lower.
- Longer Tenure: The EMI is lower, but you end up paying more in total interest.
Why You Should Consider APR Over Just Interest Rates
While Interest Rate is an important factor, theAnnual Percentage Rate (APR) gives you a comprehensive view of the total cost of the loan. APR takes into account not only the interest rate but also any additional charges such as processing fees and prepayment penalties. This helps you compare loan offers more effectively.
MinEmi Tip:
A loan with a slightly higher interest rate but lower processing fees might be more affordable in the long run, as the APR gives a better overall picture of the loan’s cost.
Understanding the Breakdown of Your HDFC Bank Personal Loan EMI
Personal Loan EMIs are typically divided into two main components:
- Principal Repayment: The portion of your EMI that goes toward paying off the original loan amount.
- Interest Payment: The cost of borrowing, calculated on the remaining balance of the loan.
In the early stages of your loan, a larger portion of the EMI will go toward paying the interest. As the loan progresses, the principal component of your EMI increases while the interest component reduces.
MinEmi Tips for HDFC Bank Personal Loan Borrowing
- Evaluate Your Credit Score: A higher credit score can help you get a loan at a lower interest rate. Always check your credit score before applying for a loan.
- Select the Right Loan Amount: Borrow only as much as you need to avoid paying extra interest. Use the EMI calculator to estimate your monthly payments before applying.
- Choose the Ideal Tenure: While a longer tenure gives you lower EMIs, it also results in higher total interest paid. Consider a balanced tenure that suits your budget and long-term financial goals.
- Prepayment Options: HDFC Bank allows partial prepayments without penalty, which can help reduce your overall loan balance and the interest burden.
FAQs for HDFC Bank Personal Loan EMI Calculator
How is the EMI for HDFC Bank Personal Loan calculated?
What is the processing fee for HDFC Bank Personal Loan?
Can I change my loan tenure after approval?
Can I apply for an HDFC Bank Personal Loan online?
MORE LIKE THIS
Master your finances – right in your inbox!
Sign up for MinEMI updates to get money-saving tips, practical advice, and helpful tools. We’ll help you spend wisely, save more, and achieve your financial goals with ease.