A loan that suits your budget is the only thing you desire. To check your affordability for a loan, there are EMI calculators. For personal loans, there is HDFC personal loan calculator which is available online for free.
If you are planning to get a loan from HDFC Bank and want to know the monthly installment, you can use this tool. But, it is also important for you to know interest rates, loan amount and tenure altogether decide your monthly installment.
HDFC personal loan is an unsecured loan and there is no asset verification involved in the documentation process. So, the documentation required is lesser and hence the process is hassle-free and time-saving for sure. Here is the list of documents that you must have:
- Identity Proof – Voter ID Card/Driving License/PAN Card/Copy of Passport
- Address Proof- Copy of Ration Card/Telephone or Electricity Bill/Rental Agreement/Passport
- Last 3 months bank statements
- Last 6 months bank passbook
- Latest salary slip/current dated salary certificate with the latest Form 16
HDFC Personal Loan Eligibility-
HDFC Bank offers personal loans on the basis of certain parameters which decide the loan amount and interest that they are going to offer to the applicant. Similarly, to get a personal loan with the desired loan amount and attractive interest rates, you must have the below-mentioned eligibility criteria. If your profile matches the criteria set by the HDFC Bank, the chances of getting desirable loan amount and interest rates are higher for you, so let us have a look:
- The minimum age of the loan applicant is 21 years ago
- The maximum age of the applicant is 60 years
- An individual must have 2 years of working experience wherein having 1 year of experience with the current employer is important
- The applicant must have a Net Monthly Income of ₹12,000/-. However, the Net Monthly Income should be ₹15,000/- if the applicant is living in Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Cochin
HDFC Personal Loan EMI Calculator
For example, if you are taking a personal loan from HDFC Bank wherein you have applied for the loan amount of ₹15 lakhs for the tenure of 5 years. The bank has offered you the interest rate of 15.50% per annum depending on your overall repayment capacity.
The payment details according to your inputs would be as follows:
Total Interest Outgo- ₹6,64,787
Total Amount (Interest + Principal)- ₹21,64,787
With the above information on the personal loan, you can now find it easier to check your EMIs with HDFC personal loan EMI calculator. So, experience a budget EMI and enjoy a hassle-free loan journey.