Monthly EMI:

Principal amount:

Total interest:

Total amount:

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The **HDFC Bank EMI****calculator** is an online tool that helps you calculate the
monthly payment you need to make towards your loan. You can use this calculator to calculate the EMI for a
home loan, personal loan, car loan, or any other type of loan offered by HDFC Bank. To use the calculator,
you need to enter the loan amount, interest rate, and loan tenure. The calculator will then give you the EMI
amount, total interest payable, and the total amount payable (loan amount + interest).

The **HDFC Bank EMI calculator** is a simple and easy-to-use tool that helps you plan your loan
repayment better. By using the calculator, you can get an estimate of your monthly payment, and plan your
finances accordingly. Additionally, you can also use the calculator to compare different loan options by
changing the loan amount, interest rate, and loan tenure. This will help you make an informed decision on
which loan option works best for you. It is important to note that the EMI amount calculated by the
calculator is only an estimate and actual EMI may vary based on the bank's policies and interest rate
fluctuations.

An** EMI (Equated Monthly Instalment) calculator** is a tool used to calculate the monthly
payment (EMI) on a loan. The EMI includes the loan principal amount and the interest payable on the loan. By
entering the loan amount, interest rate, and loan tenure into the calculator, it calculates the monthly
payment (EMI) that needs to be made to repay the loan. This helps borrowers plan their loan repayment better
and determine the affordability of the loan. EMI calculators are widely used for various types of loans such
as home loans, personal loans, car loans, education loans, etc.

**EMI calculators** can also be used to compare different loan options by changing the loan
amount, interest rate, and loan tenure. This helps borrowers make an informed decision on which loan option
works best for them. Additionally, the EMI calculator provides the total interest payable over the loan
tenure and the total amount payable (loan amount + interest), helping borrowers understand the complete
picture of the loan.

It is important to note that the EMI amount calculated by the calculator is only an estimate and actual EMI may vary based on the bank's policies and interest rate fluctuations. Overall, an EMI calculator is a useful tool for anyone looking to take a loan, as it helps them plan their finances and make an informed decision.

**HDFC EMI** (Equated Monthly Installment) is calculated using the following formula:

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 months)
- N = Loan repayment tenure (in months)

EMI (Equated Monthly Installment) can be calculated using the following formula:

EMI = P x R x (1+R)^N]/[(1+R)^N-1

Where:

- P = Loan amount
- R = Monthly interest rate (calculated as Annual interest)
- N = Loan repayment tenure

**Example:**

- Loan amount = Rs. 100,000
- Annual interest rate = 10%
- Loan repayment tenure = 24 months

Calculate monthly interest rate (R)

R = 10/12/100 = 0.0083

Calculate EMI

EMI = [100,000 x 0.0083 x (1 + 0.0083)^24]/[(1 + 0.0083)^24 - 1]

EMI = 4,586

So, the borrower will have to pay an EMI of Rs. 4,586 every month for the next 24 months to repay the loan.

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