1. What is HDFC Personal Loan Amortization?

The HDFC Personal Loan Amortization Schedule shows how your monthly payments are split between principal and interest over the loan term. HDFC Bank offers personal loans with interest rates starting at 10.50% p.a. with flexible repayment periods.

2. How Does the Calculator Work?

The calculator uses the PMT formula:

Where:

• \( P \) — Principal loan amount (INR)
• \( r \) — Monthly interest rate (annual rate / 12)
• \( n \) — Number of monthly payments
• \( PMT \) — Monthly payment amount (INR)

Explanation: The formula calculates the fixed monthly payment required to fully repay the loan over the specified term, accounting for compound interest.

3. Importance of Amortization Schedule

Details: The amortization schedule helps you understand how much of each payment goes toward interest vs principal, plan prepayments, and see the total interest cost over the loan term.

4. Using the Calculator

Tips: Enter the loan amount (₹50,000 to ₹40 lakhs for HDFC), interest rate (10.50% to 24% p.a.), and loan term (1 to 7 years). The calculator will show your monthly EMI and full repayment schedule.

5. Frequently Asked Questions (FAQ)

Q1: What are HDFC's current personal loan rates?
A: Rates typically range from 10.50% to 24% p.a. depending on credit profile, loan amount, and tenure.

Q2: How can I reduce my total interest payment?
A: Opt for shorter tenures (higher EMIs but less interest) or make partial prepayments when possible.

Q3: Are there any prepayment charges?
A: HDFC may charge 0-4% foreclosure charges depending on loan type and tenure remaining.

Q4: What's the maximum loan amount available?
A: HDFC offers up to ₹40 lakhs for personal loans, depending on income and creditworthiness.

Q5: How accurate is this calculator?
A: This provides estimates; actual terms may vary based on HDFC's final approval and any processing fees.