HDFC Bank offers personal loans with EMIs starting at just Rs.2,187 per lakh. The bank offers the loans at a rack interest rate which ranges between 11.25% p.a. and 21.45% p.a.
|Rs. 5 lakh @16.10% p.a.||2 years||3 years||5 years|
|Equated Monthly Instalment (EMI) (Rs.)||Rs.24,505||Rs.17,603||Rs.12,186|
|Total Interest Payable (Rs.)||Rs.88,131||Rs.1,33,716||Rs.2,31,137|
|Processing Fee (Rs.)||Rs.10,000||Rs.10,000||Rs.10,000|
Example:If you have availed a personal loan of Rs.5 lakh through HDFC Bank, assuming the effective interest rate to be 16.10% and the processing fee to be 2%, the table above provide details of your EMI, total interest payable, and processing fee.
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