Life is unpredictable. Sometimes you need a large sum of money urgently—whether it’s for a wedding, home renovation, higher education, or a medical emergency. When your savings are not enough, a personal loan often becomes the go-to solution. It is quick, convenient, and requires no collateral.
But before signing the dotted line, the most crucial question arises: If you borrow ₹27 lakh from HDFC Bank, how much EMI will you have to pay? Let’s break it down step by step.
Why Do People Choose Personal Loans?
A personal loan is among the most popular lending products in India. Here’s why many people prefer it over other options:
- No collateral required: Unlike home loans or gold loans, you don’t need to pledge any asset.
- Quick processing: Many banks, including HDFC, disburse the loan within 24–48 hours.
- Flexible usage: The borrowed amount can be used for weddings, travel, emergencies, education, or even consolidating debt.
- Flexible tenure: You can choose repayment periods ranging from 12 months to 60 months.
However, while personal loans are convenient, the interest rates are relatively high compared to secured loans. That makes it important to know your exact EMI before borrowing.
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EMI Calculation for ₹27 Lakh Personal Loan from HDFC Bank
Let’s assume the following details for calculation:
- Loan Amount: ₹27,00,000
- Interest Rate: 10.75% per annum (average rate for HDFC Bank personal loans in 2025)
- Tenure: 5 years (60 months)
Using the standard EMI formula, the results are:
Loan Amount Interest Rate Tenure Monthly EMI Total Interest Total Payment
₹27,00,000 10.75% 5 Years (60 months) ₹58,543 ₹8,12,580 ₹35,12,580
Key takeaway: You’ll be paying an EMI of about ₹58,500 every month. Over 5 years, you will repay ₹35.12 lakh in total, of which ₹8.12 lakh is interest.
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Real-Life Example
Take the case of Rahul, a young professional from Delhi. He recently borrowed ₹27 lakh from HDFC Bank to fund his sister’s wedding. The loan helped him manage all the expenses without worrying about immediate cash flow. But every month, the first thing he does after receiving his salary is to set aside ₹58,500 for EMI payments.
Rahul admits this has made him more disciplined about budgeting. “Earlier, I spent freely. Now, I plan every expense carefully. The loan gave me relief, but it also forces me to stay financially organized,” he says.
Income Requirement for Loan Approval
Taking a personal loan of ₹27 lakh is not possible for everyone. HDFC Bank and most lenders check your income eligibility before approving such a large loan.
- Your monthly net income should be at least ₹1 lakh.
- Your CIBIL score should be 750+ for quick approval and favorable interest rates.
- Banks also assess your existing EMIs to ensure your total debt doesn’t exceed 40–45% of your monthly income.
- If your income is lower, you may either get a smaller loan amount or face higher interest rates.
Pros of Taking a Personal Loan
- Quick access to funds during emergencies.
- No asset pledge required, unlike secured loans.
- Flexible end-use for weddings, education, medical needs, or travel.
- Multiple repayment options ranging from 1 to 5 years.
- Balance transfer facility if another bank offers lower interest rates.
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Things to Watch Out For
- High interest rates: Personal loans are costlier than home loans or education loans.
- Fixed EMIs: Once set, you must pay them every month without fail.
- Debt trap risk: If EMIs exceed 45% of your income, managing other expenses becomes difficult.
- Prepayment charges: Some banks levy fees if you repay early.
Tips Before Taking a Personal Loan
- Borrow only what you need: Avoid over-borrowing just because you’re eligible.
- Use EMI calculators: Always check your monthly outflow before applying.
- Compare interest rates: Explore offers from other banks or NBFCs.
- Maintain a good CIBIL score: A score above 750 improves approval chances.
- Ensure job stability: Lenders prefer applicants with steady income and work history.
Should You Take the Loan?
A ₹27 lakh personal loan from HDFC Bank will cost you around ₹58,500 per month for 5 years. That’s a significant commitment. If you have a high and stable income, it can provide quick relief for big expenses like weddings, medical emergencies, or higher education. But if your income is on the lower side, such a heavy EMI may strain your monthly budget.
As a thumb rule, never let your EMI obligations exceed 40–45% of your take-home pay. This ensures you can comfortably manage household expenses, savings, and lifestyle needs alongside loan repayments.
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Conclusion
Personal loans can be a lifeline during crucial times, but they also come with responsibility. If you plan to borrow ₹27 lakh from HDFC Bank, be prepared for an EMI of about ₹58,500 every month for 5 years. While the loan gives you immediate financial freedom, it also requires long-term discipline.
So, calculate wisely, borrow only as much as you can repay, and keep your finances balanced.
Disclaimer
This article is for educational and general awareness purposes only. Loan interest rates, terms, and eligibility criteria may vary with time and applicant profile. Always check the latest details directly with HDFC Bank before making any borrowing decision.