Loans help us fund big expenses for education, health needs, home renovation, etc. However, repaying huge amounts every month can be difficult. This is why checking Equated Monthly Instalments (EMIs) is important.

HDFC Bank offers personal loans with attractive interest rates starting from 10.75 % to 24 % per year. They provide loans with flexible repayment periods.

Our HDFC Personal Loan EMI Calculator makes checking loan EMIs easy. You can see the total interest paid over the repayment period. This helps pick a suitable loan amount and tenure. Using this tool gives clarity on the EMIs you need to pay HDFC Bank. 

Loans help us fund big expenses for education, health needs, home renovation, etc. However, repaying huge amounts every month can be difficult. This is why checking Equated Monthly Instalments (EMIs) is important.

HDFC Bank offers personal loans with attractive interest rates starting from 10.75 % to 24 % per year. They provide loans with flexible repayment periods.

Our HDFC Personal Loan EMI Calculator makes checking loan EMIs easy. You can see the total interest paid over the repayment period. This helps pick a suitable loan amount and tenure. Using this tool gives clarity on the EMIs you need to pay HDFC Bank. 

The personal loan EMI is calculated using this formula:

EMI = P x R x (1+R)^N / [(1+R)^N-1]

Where:

Consider an example where:

Principal Loan Amount (P) = ₹5 lakhs

Loan Tenure (N) = 4 years (48 months)

Annual Interest Rate = 14%

Plugging this into the formula:

Monthly Interest Rate (R) = 14%/12 = 1.17%

EMI = [5,00,000 x 1.17% x (1+1.17%)^48]/[(1+1.17%)^48 - 1]

EMI = ₹13,493

Our personalised EMI calculator allows you to adjust the loan amount, tenure and rates to observe the resultant impact on monthly instalments. Mapping different scenarios aids financial planning by selecting terms aligned to repayment capacity.

Consider you're taking a personal loan with the following details:

The annual interest rate is 10%, so the monthly interest rate is calculated as follows:

Monthly rate = 10%/12 = 0.833%

(Note: For calculation purposes, this rate needs to be used as a decimal, which means 0.00833)

The formula to calculate EMI is:

EMI = P x r x (1+r)^n / ((1+r)^n-1)

Plugging these values into the formula gives:

EMI = 2,50,000 x 0.00833 x (1+0.00833)^36 / ((1+0.00833)^36-1) = ₹7,938

Personal loans help fulfil important financial goals. However the committed EMIs also create liabilities that span years.

While we remain optimistic, life can be uncertain. Any unforeseen tragedy during the repayment period could impact families left behind both emotionally and financially.

Term insurance provides a crucial extra protector in such cases. These affordable policies pay out the assured amount to your nominees in case of your unexpected demise during the policy term.

It may seem unusual to consider such situations when starting on ambitions. However, term insurance gives immense peace of mind, knowing your loved ones are financially secure no matter what life may bring

The loan EMI tells only part of the story. It would help if you also safeguard your family's future. This is where ACKO can help.

ACKO makes buying insurance simple through technology. We offer covers for:

We partner with banks and vehicle companies to sell insurance. Our website explains all products, eligibility and documents clearly. Still trying to understand? Expert advisors are there to guide you. They will suggest the right insurance covers as per your needs.

While you plan to loan EMIs for life's needs today, remember to secure your family's tomorrow financially!