| Monthly EMI | ₹ |
| Principal amount | ₹ |
| Total interest | ₹ |
| Total amount | ₹ |
Your Amortization Details (Yearly/Monthly)
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.
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.
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.
There are broad reasons why the HDB Finance personal loan calculator is a good choice as a tool:
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
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 |