HDFC Bank is a prominent bank that offers superior-quality banking products as well as services. Every product offered by the bank comes with a bouquet of several interesting features that will benefit you extensively. You can reach out to the bank for personal loans, car loan, debit cards, credit cards, insurance, mutual funds, and lots more!
The personal loan offered by HDFC Bank is very affordably priced and comes with many advantages. You can utilise the loan for any kind of needs. The interest rates charged by the bank are attractive as well as competitive.
Whether you are a first-time customer or an existing HDFC customer, you can enjoy some special features and charges with your personal loan deal.
Do you have an existing personal loan borrowed from any other bank or NBFC? You can transfer this personal loan balance to an HDFC Personal Loan account. When you go ahead with this, your equated monthly installments (EMIs) will decrease and hence, you can save a lot of money. Without the personal loan balance transfer, you may end up paying a high amount of money on your existing loan’s interest.
To understand the difference between continuing with your existing personal loan and transferring your balance to an HDFC Personal Loan, you can check out the HDFC Personal Loan Balance Transfer Calculator.
Do you have an existing personal loan taken from HDFC Bank? If you think you are paying very high EMIs and high interest on your HDFC Personal Loan, you can bring some changes to it. You can switch to a different bank’s loan account. You can transfer your HDFC Bank personal loan balance amount to an Axis Bank personal account.
You can compare the interest rates between an HDFC personal loan and an Axis Bank personal loan and make your decision. You will need to check if the money you save by shifting from HDFC to Axis is concrete enough. If the savings you make are less, you can reconsider your decision to go ahead with the balance transfer.
When you transfer your loan balance from HDFC Bank to Axis Bank, you will most likely be able to enjoy lower EMIs and a longer tenure which will enable you to repay at ease. You may also be able to enjoy add-on features such as accident insurance, and so on. However, you will need to do your research before you decide to go ahead with the personal loan balance transfer.
HDFC Bank allows you to transfer your personal loan balance from other banks to an HDFC Personal Loan account. The bank also allows you to transfer your existing HDFC personal loan balance to another bank account.
If you have an HDFC Personal Loan and if you feel that you are spending a lot on your loan due to high interest and high principal amounts, you may shift to an ICICI Personal Loan account. You can transfer the balances of your HDFC Personal Loan to a new ICICI personal loan and repay the loan to your new lender over a longer period. You will most likely get a longer repayment tenure. Your EMI amounts will also go down and hence, you can use this money that you save, on other expenses or requirements.
You will be eligible for a personal loan balance transfer to an HDFC Personal Loan account if you are aged between 21 and 60 years of age. You can be a salaried employee or a self-employed individual. You can get in touch with any HDFC Bank representative for full information about HDFC Personal Loan Balance Transfer Eligibility.
Transferring your existing personal loan balance to an HDFC Personal Loan account is ideal if you will be able to get a longer repayment tenure and lower EMI amounts. It is also a great move to shift your HDFC loan balance to another bank account if that bank offers better benefits.