HDFC Personal Loan EMI Calculator
HDFC is the largest private sector bank in India and is trusted by millions for their financial needs. They are also one of the largest home loans and personal loan providers and offer affordable financing solutions to individuals and corporate customers.
HDFC extends personal loans up to a value of Rs. 15 lakhs, for meeting out your cash requirements. You can get more details about HDFC personal loan scheme and the end of this blog post.
EMI Calculator For HDFC Personal Loans
The official website of HDFC bank does not has an easily searchable online calculator which can calculate the EMI of HDFC personal loan. All they have is a Flash-based online calculator, which just calculates the EMI based upon the values of the loan amount, the applicable interest rate and loan period. It does not create an amortization table for you, which might tell you how your outstanding loan balance gets reduced with each successive EMI payment.
Amortization tables are very helpful for you to understand how your EMI payments are working to serve your personal loan. There are many websites which allow you to create amortization tables absolutely free of cost.
Alternative Online Calculator For HDFC Personal Loan
Here we present you one such online calculator, which can easily be customized for HDFC personal loans. You just help to end the loan amount, annual interest rate and the loan period in years – and this online calculator will create an amortization schedule for you. Their schedule will mention the exact date on which your EMI payment is due and will give you the breakup of this EMI payment into its two main component – the principal repayment component and the interest payment component.
This online HDFC personal loan EMI calculator can add just itself in case you desire to make extra payments in addition to your EMI payments so as to reduce your loan period and overall interest burden. These extra payments can be in the form of lump-sum payments as and when you are having surplus money or they can also be in the form of additional payments along with EMI.
The results are presented in a nice pictorial graphical form, which tells the story in a comprehensive and easily understandable manner.
More About HDFC Personal Loans
As already mentioned earlier HDFC Rovai and its personal loans up to a value of Rs. 15 lakhs with a flexible repayment options ranging from 12 to 16 months depending upon the customer’s profile. The loan approval process is quick and you can expect the approval within five working days as per the information provided on HDFC website. The best deal is that they do not ask for any guarantor surety or collateral security. Having a salary account with HDFC bank or being an existing customer of HDFC, helps a great deal for availing an HDFC personal loan.
For availing HDFC personal loans you must:
- 21 to 60 years of age in case of salaried people and 25 to 65 years in case of self employed professional.
- Employed for at least two years
- Earning at least Rs. 10,000 per month net income in case of salaried personals and Rs. 1 lakh per year in case of self employed professional.
Documentation required for availing HDFC personal loans
HDFC requires a flexible documentation and the exact requirement will depend on the case to case basis. However, following are the general documents required.
- Proof of your identity
- Address proof
- The last three months bank statements
- Your current salary slip