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The payment is harder to manage for a borrower whose income is low and EMI is high. But HDFC Bank has a solution for this and which is the HDFC personal loan EMI calculator . The online tool helps the borrower to get an approximate idea of the EMI with which they can choose tenure accordingly. Read on to know the use of the EMI calculator and its benefits. Functioning of HDFC personal loan EMI calculator! HDFC online tool works in a mathematical formula of [P x R x (1+R)^N]/[(1+R)^N-1], here P denotes your principal loan amount, N is period of payment and R is interest rate. The tool takes your loan details and computes your EMI with the formula. To use HDFC personal loan EMI calculator visit the bank website by giving your loan details. See below example to understand the calculator working better.  Suppose, you have borrowed INR 7 lakh from HDFC Bank for 4 years duration. And the renovation costs come under the HDFC Bank home loan interest rates are 15.99%. So instead of ...

While other banks of India are providing personal loans at around 15%, HDFC Bank is giving out personal loans at as low as 11.25%. If your credit score is not good enough, the HDFC personal loan interest rate won’t cross 21.25%. You don’t have to cut down on your luxury because of the friendly nature of HDFC personal loan interest rate. It keeps your EMI as low as possible to help you enjoy your life better. Say, if you take a HDFC personal loan for INR 3,00,000 over the course of 4 years at an interest rate of 11.25%. The EMI you’ll be paying on the loan is just INR 7,754. That’s it? Yes, it is just 5-10% of your salary. The rest of your salary you can use to continue living the luxurious life without thinking much about the loan. If you need help in calculating your EMIs, the HDFC personal loan EMI calculator will assist you with that. However, there are some factors that you should keep in mind which affect the interest rates. What are the Benefits of Personal Loan HDFC? Big Loan...