Loans

Can you get a high loan amount at low EMI?

Find out ways in which you could lower your EMI.

Synopsis:

  • Opt for a longer loan tenure to lower your EMI.

  • Increase your down payment to reduce the total loan amount.

  • Consider refinancing with a balance transfer loan to lower interest rates and reduce costs.

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Overview

Personal Loan can be instrumental in achieving various financial and life goals. Banks disburse these loans quickly, offering borrowers substantial control and flexibility over repayment terms. You can customise your loan amount and tenure to fit your needs, which allows you to adjust your Equated Monthly Instalments (EMIs) accordingly.

Tips to increase the loan amount with a lower EMI

Opt for a longer tenure

Your loan repayment tenure directly affects your EMI amount. Choosing a longer repayment period lets you spread the total loan amount over a more extended period, which lowers your EMI.

Pay a higher down payment

Opt for a higher down payment: The down payment is the initial amount you pay when purchasing an item on loan. You can reduce the total loan amount by choosing to make a larger down payment. Since interest is charged on the principal borrowed, a smaller loan means lower interest and EMIs. A higher down payment can help you lower your EMIs and overall interest rates.

Opt for a balance transfer 

If you have a high-cost loan, consider refinancing by taking out a new loan with a lower interest rate, known as a balance transfer loan. This can reduce your overall borrowing costs.

Applying for an HDFC personal loan is as easy as a single click. To apply for a Personal Loan, click here!

Click here to learn how to calculate Emi for a Personal Loan and how to lower it.

*Terms & conditions apply. Personal Loan disbursal at the sole discretion of HDFC Bank Ltd.

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A Credit Card is a financial instrument or facility provided by banks. It comes with a predetermined credit limit. You can utilise this credit limit to make cashless offline and online payments for products and services using your Credit Cards.

A Credit Card is a financial instrument or facility provided by banks. It comes with a predetermined credit limit. You can utilise this credit limit to make cashless offline and online payments for products and services using your Credit Cards.

A Credit Card is a financial instrument or facility provided by banks. It comes with a predetermined credit limit. You can utilise this credit limit to make cashless offline and online payments for products and services using your Credit Cards.

A Credit Card is a financial instrument or facility provided by banks. It comes with a predetermined credit limit. You can utilise this credit limit to make cashless offline and online payments for products and services using your Credit Cards.

A Credit Card is a financial instrument or facility provided by banks. It comes with a predetermined credit limit. You can utilise this credit limit to make cashless offline and online payments for products and services using your Credit Cards.

A Credit Card is a financial instrument or facility provided by banks. It comes with a predetermined credit limit. You can utilise this credit limit to make cashless offline and online payments for products and services using your Credit Cards.

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