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HDFC Personal Loan helps meet urgent financial needs. And there are tools like EMI Calculator, Eligibility Calculator and Balance Transfer Calculator that help plan your loan journey efficiently. You can read this page and find out how HDFC Personal loan calculator tools can be helpful for you.
There are three types of calculators accessible online by which you can get an affordable loan amount. Let’s know about each one of them –
HDFC Personal Loan EMI Calculator
This tool helps you know the EMI and payable interest amount. Using this, you can choose a tenure that can lead to affordable repayment. To use this tool, enter the following details –
Sanjana, a 24-year old corporate employee, is looking to borrow money for her travel. Well, she came across the HDFC Personal Loan offer and decided to go with it. She enters the following details in the calculator –
The EMI comes as INR 26,571 according to the calculator.
HDFC Eligibility Calculator
This tool tells you the amount you’ll be eligible to borrow. Using this tool, you can find whether the HDFC Personal Loan can help you meet your financial need. To use this calculator, enter the following –
Your eligible loan amount will be displayed on the screen now. To understand it better, look at the example below.
Pankaj needs money for his mother’s operation and to know his eligibility, he uses this HDFC Personal Loan Calculator. He enters the following details for the same-
So, as per the calculator, Pankaj can borrow INR 8,45,000 which is enough to cover the cost of treatment. After that, he clicks on the ‘Talk to Our Loan Expert’ button and proceeds with the loan application.
Using this HDFC Personal Loan Calculator, you can know how much amount you can save if you transfer the loan to HDFC Bank. To use this calculator, you need to insert the below details –
Let’s have a look at the below example to see the HDFC Personal Loan Calculator working –
Kumar has a personal loan of INR 8 Lakh with a tenure of 5 years at an interest rate of 19.00% per annum. He has paid 36 EMIs till now and is looking to transfer the loan to reduce the burden. He’s a salaried doctor and earns INR 66,000 per month.
He considers transferring his personal loan to HDFC Bank but doesn’t have any idea of the savings. So, he uses this HDFC Personal Loan EMI Calculator to see the total amount he will save after this transfer. Kumar enters the following details –
The calculator will generate the following –
Upon personal loan transfer to HDFC Bank, your existing loan account will be closed. And from next month onwards, the new EMI will start.
So, use these online tools of HDFC Bank when you’re applying for a personal loan.