# HDFC Personal Loan EMI Calculator

The HDFC Personal Loan EMI Calculator is a tool that helps you estimate your monthly EMI (Equated Monthly Installment) payments for your personal loan from HDFC Bank. To use the HDFC Personal Loan EMI Calculator, follow these steps:

1. Go to the calculator3.com website or use any third-party loan calculator website that offers an HDFC Personal Loan EMI Calculator.
2. Enter the loan amount you wish to borrow from HDFC Bank.
3. Select the loan tenure (in months) you are comfortable with.
4. Enter the interest rate offered by HDFC Bank for the personal loan.
5. Click on the “Calculate” button to get the estimated EMI amount.

The HDFC Personal Loan EMI Calculator will show you the estimated monthly EMI amount, the total interest payable, and the total amount payable (principal + interest) for your personal loan from HDFC Bank. This tool can help you plan your finances better and decide on the loan amount and tenure that is best suited for your needs and repayment capacity.

## Personal Loan EMI

A Personal Loan EMI (Equated Monthly Installment) is a fixed amount of money that you pay each month to your lender towards the repayment of your personal loan. It includes both the principal amount borrowed and the interest charged on the loan.

The EMI amount is calculated based on the loan amount, the interest rate, and the tenure of the loan. The loan amount and the interest rate determine the monthly interest component of the EMI, while the loan tenure determines the number of EMIs that you will have to pay to repay the loan.

The formula to calculate the EMI is as follows:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
where,
P = loan amount
R = monthly interest rate (calculated as annual interest rate/12)
N = loan tenure in months

For example, if you take a personal loan of Rs. 1,00,000 at an interest rate of 12% per annum for a tenure of 24 months, the EMI would be calculated as follows:
EMI = [1,00,000 x (12/12) x (1+12/12)^24]/[(1+12/12)^24-1]
EMI = Rs. 4,650.39

Therefore, you would have to pay a fixed EMI of Rs. 4,650.39 each month for 24 months to repay your personal loan.