Understand How To Calculate EMI For Personal Loan & How To Lower It?

EMI is one of the most important aspects of any loan that you take. EMI stands of equated monthly instalments. It is the amount you will have to pay every month till the end of your loan tenure

So, how can you calculate your Personal Loan EMI. And, more importantly, how can you lower your EMI?

Three factors influence your Personal Loan EMI.

  1. Loan Amount: How much loan have you taken?
  2. Interest Rate: What is the interest rate on your loan?
  3. Tenure: How long do you have to repay it?

Changes to any of these three will affect your Personal Loan EMI.

Your EMI has two components: interest and principal amount. In the early period of your loan, the interest component will be higher and will progressively reduce. In the later years, the principal amount will be higher.

So, how do you calculate your Personal Loan EMI? The easiest way is to use online EMI Calculators. The HDFC Bank Personal Loan EMI calculator is easy-to-use and will help you plan your loan better.

To calculate your EMI just enter the loan amount, tenure and the rate of interest offered by the bank and hit calculate. To lower your EMI, just change the loan amount or tenure. If you have a fixed loan amount in mind, then adjust the tenure till you arrive at an optimal monthly outgo. If you are happy with the figure, hit apply now to get the loan you desire.

HDFC Bank offers Personal Loans with EMIs as low as ₹2,149/ Lakh. You can choose an amount up to Rs 40 lakh, with tenures ranging from 12 to *72 months (*select customers). HDFC Bank customers can get funds in under 10 seconds with a pre - approved Personal Loan, while others can get in less than 4 hours.

Read more about how to calculate your Personal Loan EMI and eligibility here.

So get the best loan available by using our calculator and apply now!

* Terms & conditions apply. Personal Loan disbursal at sole discretion of HDFC Bank Ltd.

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