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HDB Personal Loan Calculator

HDB Financial Personal Loan EMI Calculator, Jul 2021

Last Updated 12th Jul 2021

  • Personal loan EMI in HDB Financial depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.
  • HDB Financial Personal Loan EMI Calculator is an online tool to estimate monthly EMI and its division into principal and Interest during the entire loan tenure.
  • Lowest monthly EMI is ₹ 3,235 per lakh on HDB Bank personal loan as calculated using the lowest interest rate of 30.00% for the longest tenure of 60 months.
  • For example, the table below gives the EMIs on HDB Personal Loan at different loan amounts and loan tenure, if taken at the lowest rate.
Loan Amount1 Year Loan3 Year loan5 Year loan
₹ 1 Lakh₹ 9,749₹ 4,245₹ 3,235
₹ 5 Lakh₹ 48,744₹ 21,226₹ 16,177
₹ 10 Lakh₹ 97,487₹ 42,452₹ 32,353

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Personal Loan EMI Calculator HDB

HDB Financial Personal Loan EMI is a fixed amount of money paid by you to HDB Financial based on your loan amount, tenure and interest rate. Every month, it is due on a fixed day of the month till the loan is fully paid back. You can calculate your HDB Financial personal loan EMI in advance, to plan your loan payments and further expenses, using the Personal Loan EMI Calculator HDB. The calculator functions on a mathematical algorithm and gives accurate results in no time.

Why should you use HDB Financial Personal Loan EMI Calculator?

  • Calculate the EMI within your budget: Helps you compare the EMIs with a different loan amount and tenure. Always talk to the bank to know the interest rate you will be eligible for HDB Financial personal loan which can range between 30.00% to 36.00%.
  • Compare HDB Financial personal Loan EMI: Helps you compare the estimated EMI on a personal loan from HDB Financial with that of leading banks in India using the same loan amount of upto ₹ 20 Lakh for a maximum tenure of 60 months, but at different interest rates.
  • Calculate interest on HDB Financial personal loan: You can calculate the split of total EMIs into interest and principal repayment on your loan from HDB over the loan tenure.
  • Detailed amortisation schedule: This allows you to see the pace at which your principal amount will be repaid during the loan tenure month on month. This is helpful if you decide to prepay your loan at HDB or balance transfer to another bank.

HDB Financial Personal Loan EMI Calculator to Estimate the EMI that Fits your Budget

Input different loan amounts and tenure at the eligible interest rate on HDB Financial Personal Loan EMI calculator to calculate various EMIs at different rates and tenure. The table captures the calculation of HDB Financial Personal Loan EMI Calculation at the various combinations of loan amount and years when taking at the lowest rate of 30.00%. So if you think that you can afford to pay an EMI of ₹ 10,000 in your budget, taking a ₹ 3 Lakh loan for 3 years or ₹ 5 Lakh loan for 5 years, maybe the right HDB Financial personal loan plan for you.Personal Loan EMI is calculated for HDB for different loan amounts and tenures at the rate of 30.00%.

Loan Amount (Rs.)2 Years3 Years5 Years
1 Lakh ₹ 5,591 ₹ 4,245 ₹ 3,235
3 Lakh ₹ 16,774 ₹ 12,735 ₹ 9,706
5 Lakh ₹ 27,956 ₹ 21,226 ₹ 16,177
10 Lakh ₹ 55,913 ₹ 42,452 ₹ 32,353

Factors Affecting HDB Financial Personal Loan EMI

  • Loan amount – You will pay a higher EMI for the higher loan amount. HDB Financial gives a minimum loan of ₹ 1 Lakh and a maximum loan amount of ₹ 20 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. HDB Financial personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by HDB Financial is 30.00%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period over which you can repay your loan in HDB Financial. So, your EMI will be lower if you take a 60months loan from HDB Financial as compared to a loan taken for 12months. The logic being that if you get a longer period to repay, you can repay in a smaller instalment.

Comparison of HDB Financial Personal Loan EMI with other Banks

Bank Name Interest Rate Loan Amount of ₹ 1 Lakh Loan Amount of ₹ 5 Lakh Loan Amount of ₹ 10 Lakh
HDB Financial30.00% ₹ 9,749 ₹ 48,744 ₹ 97,487

HDB Financial Personal Loan Amortization Calculator

HDB Financial Personal Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. HDB Financial gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Personal Loan of ₹ 3 Lakh for 5 years from HDB Financial at an interest rate of 30.00%. EMI calculated for this loan amount is ₹ 9,706 and the total annual EMIs to be paid annually is ₹ 1,16,472. The EMI schedule of loan for 5 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 3 Lakh over the 5 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 44,145 ₹ 14,091 ₹ 58,236 ₹ 2,85,909
2022 ₹ 81,179 ₹ 35,293 ₹ 1,16,472 ₹ 2,50,615
2023 ₹ 69,007 ₹ 47,465 ₹ 1,16,472 ₹ 2,03,150
2024 ₹ 52,636 ₹ 63,836 ₹ 1,16,472 ₹ 1,39,314
2025 ₹ 30,620 ₹ 85,852 ₹ 1,16,472 ₹ 53,462
2026 ₹ 4,774 ₹ 53,462 ₹ 58,236 -₹ 0

In the above illustration, on a HDB Financial Personal Loan of₹ 3 Lakh, taken at the lowest interest rate of 30.00, EMI paid is ₹ 9,706 and an annual total of EMIs is ₹ 1,16,472, the interest component is ₹ 86,039 while the principal component is ₹ 30,433 in year 1 of loan disbursement. You repay only 10.14% of the total principal after paying 12 EMIs during the first year.

HDB Financial Personal Loan Interest Calculator Formula

HDB Financial calculates personal loan EMI based on the following formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how HDB Financial Personal Loan EMI is calculated:

In the above formula,

P = Loan amount.HDB Financial personal loan amount can range from ₹ 1 Lakh to ₹ 20 Lakh.

r = Rate of interest per month. The current HDB Financial Personal Loan rate is 30.00%.
n = Tenure in month. This can range up to 60months in case of HDB Financial.

How to use HDB Financial Personal Loan EMI Calculator

  • HDB Financial personal loan calculator are online tool which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • HDB Financial EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears meaning interest is charged for the month preceding the EMI payment date and not in advance.

HDB Financial Personal Loan EMI for ₹ 1 Lakh

The following table shows HDB Financial Personal Loan EMI for ₹ 1,00,000 for different tenures at an interest rate of 30.00%

Loan AmountInterest RateTenure(Year)EMI
₹ 1,00,00030.00% 1₹ 9,749
₹ 1,00,00030.00% 2₹ 5,591
₹ 1,00,00030.00% 3₹ 4,245
₹ 1,00,00030.00% 4₹ 3,601
₹ 1,00,00030.00% 5₹ 3,235

HDB Financial Personal Loan EMI for ₹ 3 Lakh

The following table shows HDB Financial Personal Loan EMI for ₹ 3,00,000 for different tenures at an interest rate of 30.00%.

Loan AmountInterest RateTenure(Year)EMI
₹ 3,00,00030.00% 1₹ 29,246
₹ 3,00,00030.00% 2₹ 16,774
₹ 3,00,00030.00% 3₹ 12,735
₹ 3,00,00030.00% 4₹ 10,802
₹ 3,00,00030.00% 5₹ 9,706

HDB Financial Personal Loan EMI for ₹ 5 Lakh

The following table shows HDB Financial Personal Loan EMI for ₹ 5,00,000 for different tenures at an interest rate of 30.00%.

Loan AmountInterest RateTenure(Year)EMI
₹ 5,00,00030.00% 1₹ 48,744
₹ 5,00,00030.00% 2₹ 27,956
₹ 5,00,00030.00% 3₹ 21,226
₹ 5,00,00030.00% 4₹ 18,003
₹ 5,00,00030.00% 5₹ 16,177

HDB Financial Personal Loan EMI for ₹ 10 Lakh

The following table shows HDB Financial Personal Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 30.00%.

Loan AmountInterest RateTenure(Year)EMI
₹ 10,00,00030.00% 1₹ 97,487
₹ 10,00,00030.00% 2₹ 55,913
₹ 10,00,00030.00% 3₹ 42,452
₹ 10,00,00030.00% 4₹ 36,006
₹ 10,00,00030.00% 5₹ 32,353

How to Pay HDB Financial Personal Loan EMI?

There are various online & offline methods to pay your HDB Financial Personal Loan EMI. To repay your HDB Financial EMI online, you can log in to your net banking account or else you can also use the mobile banking of HDB Financial. HDB Financial also allows you to pay EMI through ECI or standing instructions or a cheque facility by visiting the nearest HDB Financial branch.

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Why should I calculate HDB loan EMI before taking a loan?

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your HDB Financial personal loan EMI as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount that fits your monthly budget and makes EMI easily affordable
  • If you already know the EMI you have to pay each month, then you can plan your expenses accordingly
  • Based on the EMI amount, you can opt for making prepayment of your personal loan in future when you have a surplus amount

What is the lowest EMI per lakh offered by HDB Financial on a personal loan?

HDB Financial offers a personal loan at a 30.00% interest rate for a maximum of 60 months, and hence lowest EMI per lakh loan amount is ₹ 3,235. However, HDB Financial may offer a lower interest rate and EMI for their salary account holders or existing bank customers can vary.

How can I pre-close HDB Financial personal loan?

You can pre-close your HDB Financial personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of the balance amount that you have paid.

What are the prepayment charges on HDB Financial ?

HDB Financial offers you an option of prepayment after 6 months at Nil foreclosure charges.You have to pay these charges if you decide to pay the loan amount before the due date.

Is there any processing charge on a personal loan from HDB Financial?

Yes, HDB Financial charges a certain amount of processing fee to process your loan application. Currently, HDB Financial charges a processing fee of Upto 3% of Loan Amount on a Personal Loan.

Will I get a personal loan from HDB Financial if I have a bad credit score?

No, for taking a loan from HDB Financial, you must have a good credit score of 700 and above. Usually, most banks avoid giving loans if you have a low credit score.Also, availing a personal loan at low cibil score might fetch you a high HDB Financial personal loan rate.

What is the EMI for a₹ 20 Lakh personal loan in HDB Financial Bank?

At the current rate of 30.00%, EMI on HDB Financial personal loan for loan amount ₹ 20 Lakh varies based on the loan tenure. For instance, for 2 year, 3 year and 6 years, EMI is ₹ 89,300, ₹ 1,02,039 and ₹ 1,45,298 respectively.

Can I have a co-applicant while applying for a Personal loan with HDB Financial ?

Yes, you can opt for a co-applicant to take a personal loan from HDB Financial that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in HDB Financial personal loan?

If you have funds, then you can pay more than the regular EMI on your HDB Financial Personal Loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my HDB Financial loan EMI?

You can pay the HDB Financial personal Loan EMI by using the ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque or can opt for automated deductions from your salary account.

HDB Financial Personal Loan Reviews 4.3/5  by 10 customers
MyLoanCare Service
Banks Service
Deepak Thorat, Pune
Reviewed on 21st Dec 2015
3 / 5 stars
HDB Financial Personal Loan Availed in Dec-17

** High interest rates
** High processing fees
** Good service

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