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HDB Finance Personal Loan EMI Calculator

Loan amount
Rate of interest (p.a)
%
Loan tenure
Yr
Monthly EMI
Principal amount
Total interest
Total amount
Principal amount
Interest amount

HDB Finance gives customers personal loans that go up to a value of Rs. 20 lakhs and a time frame of up to 5 years. Their personal loans are offered to salaried people and to self-employed professionals in order for them to meet their financial needs. The institution has eligibility criteria such as creditworthiness and more.

You can also know what your HDB Finance personal loan EMI would be just with the help of the HDB Finance personal loan EMI calculator.

What is the HDB Personal Loan Calculator?

The HDB Finance personal loan calculator is an online tool for anyone to use, and this tool will give the users the ability to automatically estimate what their EMI would be when they apply for a personal loan from HDB Finance.

You can use this calculator on the website of Groww, and you can use it to compare different values and tenures in the process of selecting the most suitable EMI options.

You can also use the HDB Finance personal loan EMI calculator to know if you can afford the EMI if you take a personal loan from HDB Finance. The calculator will also give you the interest amount that will be charged on your personal loan from HDB Finance. Moreover, the calculator is free, which means you can use it as many times as you want.

How Do I Use the HDB Personal Loan EMI Calculator?

Using the HDB Finance personal calculator is simple and easy; all you need is three basic ground steps to be followed, and they are:

Step 1: You will have to provide the principal amount you are applying for with HDB Finance.

Step 2: Secondly, you will have to write the amount of interest that the financial institution is offering.

Step 3: Lastly, you will have to enter the tenure of the personal loan from HDB Finance.

The HDB Finance personal loan calculator now will automatically show you the EMI amount and the interest amount of the loan.

How is the HDB Finance EMI Calculator Beneficial to You?

There are broad reasons why the HDB Finance personal loan calculator is a good choice as a tool:

  • It is free and gives you instant answers.
  • You will have the opportunity to know your EMI beforehand.
  • You can also use the HDB Finance personal loan calculator to know the total interest amount that will be charged over your personal loan.

How Does the HDB Personal Loan Interest Rate Calculator Work?

The HDB Finance personal loan calculator uses a standard formula that gives you the most accurate results, and the formula is:

EMI = [ P x R x (1+R) ^ N ]/[(1+R)^N-1]

This expanded formula stands for:

P - The Principal Amount of the Personal Loan

N - The Tenure of the Personal Loan

R - The Interest Rate of the Personal Loan from HDB Finance

This formula can also be explained through an example of a personal loan from HDB Finance, which is mentioned below.

Dr Singh wants to borrow a personal loan of Rs. 5 lakhs from HDB Finance, and the tenure that she chose is five years, for which HDB Finance had offered her an interest rate of 15%. Therefore the details of the personal loan from HDB Finance are as follows:

The principal amount = Rs. 5 lakhs

The tenure of the loan = 5 Years

The interest rate = is 15%

EMI = Rs. 11,895

Amortization Table of the Personal Loan from HDB Finance

According to the example that has been given above, we can look at the schedule of the repayment of this personal loan by Dr Singh:

Year

Interest Paid

Principal Paid

Total Payment

Outstanding Loan

2022

36,423

34,947

71,370

4,65,054

2023

64,526

78,214

1,42,740

3,86,840

2024

51,951

90,788

1,42,739

2,96,053

2025

37,359

1,05,380

1,42,739

1,90,671

2026

20,416

1,22,323

1,42,739

68,349

2027

3,021

68,349

71,370

0

 

HDB Finance Personal Loan EMI Calculator - FAQs

Q1. Can I use the HDB Finance personal loan calculator even when I am not a customer of HDB Finance?

Yes, you can use the calculator even when you are not a customer of the bank.

Q2. How does the HDB Finance personal loan calculator work?

The calculator uses a standard formula to come up with accurate EMI amounts of the bank's personal loan.

Q3. Do I have to sign up to use this calculator?

No, you will not have to sign up or log in.

Q4. Can the HDB Finance personal loan calculator have errors?

No. It works on an algorithm. Therefore it cannot give you any wrong results.

Q5. What do I need to provide for the calculator to give me the EMI amount?

You will have to provide the principal you need, the tenure you prefer, and the rate of interest of the bank.

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