HDFC EMI Calculator Credit Card

EMI Calculation Formula:

\[ EMI = \frac{P \times R \times (1+R)^N}{(1+R)^N - 1} \]

EMI Amount:

Total Payment:

Total Interest:

Unit Converter ▲

Unit Converter ▼

From:	To:

1. What is EMI?

EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. For credit cards, EMI converts large purchases into smaller monthly payments with interest.

2. How Does the Calculator Work?

The calculator uses the standard EMI formula:

\[ EMI = \frac{P \times R \times (1+R)^N}{(1+R)^N - 1} \]

Where:

\( P \) — Principal loan amount (₹)
\( R \) — Monthly interest rate (APR/12)
\( N \) — Loan tenure in months
\( EMI \) — Equated monthly installment (₹)

Example: For ₹50,000 at 18% APR for 12 months, R = 18%/12 = 1.5% = 0.015 monthly rate.

3. Understanding Credit Card EMI

Details: HDFC credit card EMI options typically range from 3-24 months with interest rates varying from 14% to 24% APR. Some purchases may have no-cost EMI options.

4. Using the Calculator

Tips: Enter the purchase amount, HDFC's offered interest rate (APR), and your preferred repayment tenure. The calculator will show your monthly payment and total interest.

5. Frequently Asked Questions (FAQ)

Q1: How is HDFC credit card EMI different from loan EMI?
A: Credit card EMIs often have higher interest rates but are more convenient to activate for existing cardholders.

Q2: Can I prepay my HDFC credit card EMI?
A: Yes, but prepayment charges may apply (typically 2-3% of outstanding principal).

Q3: What's the minimum amount for HDFC EMI conversion?
A: Usually ₹2,500-₹5,000 minimum transaction value for EMI conversion.

Q4: Are there processing fees for EMI conversion?
A: HDFC typically charges 1-2% of transaction value as processing fee for EMI conversion.

Q5: How does no-cost EMI work?
A: The interest is subsidized by the merchant/bank, so you pay only the principal divided by tenure.