HDFC Personal Loan EMI Calculator is an online tool whose work is to generate your EMIs. Well, it does make your loan application easier. You get insight on the loan repayment when you use this calculator of HDFC Bank. So you can change the loan amount or tenure as per your convenience and have an approved loan from HDFC Bank. The most common reasons for loan rejections are the application of a high loan amount, not meeting the eligibility criteria, etc. So if you want to avoid your loan rejection, use HDFC Personal Loan EMI Calculator before your loan application. Learn more about the calculator benefits below.
Know Your EMI for Better Repayment
The primary work of the HDFC Personal Loan EMI Calculator is to provide you with the result of your EMI calculation. Well, this will take only a few seconds, enter your loan amount, interest rate and tenure to see the EMI.
If you get the desired EMI, proceed with the loan application online. You can either apply online or offline for an HDFC Personal Loan whichever you prefer.
Illustration of the HDFC Personal Loan EMI Calculator
Check out the below example and see how the calculator helps –
Sneha is 45 years old and needs a lump sum of money for her son’s further education. She has been an entrepreneur for the past 5 years. During her search for a personal loan, she came across HDFC Bank. Using its calculator she finds how much the bank will lend her. Well, the amount is a maximum of INR 8 Lakh. Sneha needs INR 3 Lakh, and a good loan limit means she can negotiate the interest rate.
Before going any further with the loan application, she checks her EMI using the online tool. To do the same, she inserts the following –
- Loan amount – INR 6 Lakh
- Interest rate – 11.00% per annum
- Tenure – 36 months
According to the calculator, she gets an EMI of INR 19,643. Well, this could be a little less as she chose a different tenure.
For 48 months her EMI will be INR 15,507. As you can see it is more affordable for Sneha now and she can easily pay the EMIs alongside the daily expenses.
What to do Next?
Now that you have chosen the tenure of your loan, apply for the HDFC Personal Loan using any of the available options –
If you are an HDFC customer or not, you can apply for a personal loan online. Just follow these instructions –
- Visit the official website of the HDFC Bank on your smartphone or laptop
- Calculate the EMI amount as you visit the personal loan page
- Now click on the ‘Apply Now’ icon
- An online application form will appear on your screen
- Fill in details like name, email, mobile number, address, etc.
- Upload KYC documents namely – PAN Card, Aadhaar Card, Driving License, etc. (any one of them)
- Submit income proof like a salary slip or bank statement in a pdf format
- Click on the ‘submit’ button
- Now, your loan application is in process and soon you will hear from the bank
The bank representative will call you, send you an SMS on your provided number, and email on your registered email address to convey its decision on your loan application. And you can do this at home without going to the bank branch.
If you prefer the offline process, check out the instructions below –
- Visit the bank branch and talk with the bank representative. You can approach them at their respective counter
- Now they will tell you about the product and hand you an application form
- Fill in the form and attach the documents as discussed above
- Sign the documents and submit them
This way you can get your HDFC Personal Loan and meet all your financial needs without any hassle.