HDFC Bank, which was incorporated in 1994, is the fifth largest bank in India by assets. Over the years HDFC Bank has won the trust of its customers and has become a market leader in personal loans. Enjoy triple benefits when you take a personal loan from HDFC Bank - Faster loan, competitive pricing, transparency. On BankBazaar.com you can check your eligibility in seconds for a HDFC personal loan by filling in a short form and you can apply online. Read on to learn about the eligibility and documentation requirements for HDFC personal loan.
You’re probably eligible for an HDFC Bank Personal Loan if you are
At least 21 years old
Less than 60 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Your HDFC Bank Personal Loan amount eligibility is based on these factors
Minimum income required
Rs.12,000 per month
Maximum allowed personal loan is Rs. 25 lakhs
EMIs of other loans lower
Increase your eligible HDFC Bank Personal Loan amount by these steps
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Documentation needed to apply for an HDFC Bank Personal Loan
- 1. Signed application form with photograph
- 2. Copy of passport/voter ID card/driving license
- 3. Processing fee cheque
- 4. Last 3 months bank statement/6 months bank passbook
- 5. Documentation for salaried applicants:
- Latest salary slip
- current dated salary certificate with the latest Form 16
- 6. Documentation for self-employed applicants:
- Latest Bank statement
- Latest ITR or Form 16
HDFC Bank Personal Loan Interest RatesUpdated on 11 Feb 2016
|Interest Rate (Monthly reducing balance)||12.75% to 19.00%|
|Processing Fees||0 to 2.5% of Loan Amount|
|Loan Tenure||1 year to 5 years|
|Pre-closure Charges||Preclosure permitted after 1 year. 4% of principal outstanding (plus ST) in 2nd year. 3% (plus ST) in 3rd year. 2% (plus ST) afterwards|
|Guarantor Requirement||No guarantor required|
About HDFC Bank Personal Loan
HDFC Bank is one of the most popular private sector banks in the country, known for its professional banking and financial services. HDFC Bank is a market leader in personal loans as it offers a triple advantage to all loan applicants. Minimal documentation, quick loan approval and assured transparency makes HDFC bank the preferred choice of thousands of satisfied loan borrowers. HDFC Bank offers Personal Loans for both salaried and self employed individuals ranging from Rs. 50,000 to a maximum limit of Rs. 15 lakhs. With a flexible loan tenure ranging 12 to 60 months and a competitive interest rate, HDFC Bank offers one of the best personal loan services in the country.
The money borrowed through HDFC Bank personal loan can be used as per the needs and requirements of the applicant as there are no restrictions regarding the end use of the amount availed. Personal loans from HDFC Bank can be used for any immediate or short term financial needs like wedding expenses, home renovation, medical expenses, overseas travel, starting a new business or even in times of unexpected financial crunch.
Personal loans from HDFC Bank require no guarantor, security or collateral prerequisites and the bank offers instant loans approved in less than a minute.HDFC Personal Loan comes with a number of added benefits including a Personal Accidental Cover of up to 8 lakhs along with a Critical Illness cover of 1 Lakhs.
Why choose HDFC Personal Loan?
Taking a personal loan is no small undertaking, however, it need not be as painful, applying for one, as many people seem to believe. HDFC personal loans are designed to ensure that you have funds when you need them so that you can dispense them at your leisure. They have even introduced schemes that are meant to flatter the applicant and make the whole process of figuring out the eligibility for the HDFC personal loans quick and simple. There is some trepidation when it comes to applying for a personal loan for the very first time, but with HDFC all applicants are given a fair chance and all judgements, for the approval of the loan, are made on the basis of the same eligibility criteria as is applied to everyone else.
Many people prefer HDFC personal loans due to some or all of the below mentioned factors:
Minimal Documentation: HDFC Bank personal loans come with minimal documentation and quick loan disbursal. HDFC Bank has one of the fastest loan approval time compared to a number of other public sector and private banks.
Attractive Rate of Interest: HDFC offers personal loans at very competitive interest rates. Personal loans with HDFC Bank start as low as 15.75% interest rate.
Special Offers for Women Applicants: HDFC Bank offers a specialized discounted scheme for women known as the Personal Loan Diva Scheme. This scheme offers pre approved personal loans of Rs. 3 Lakhs to women applicants along with more than 100 Diva offers across various premium brands and products.
Dedicated Customer Support Helpline: HDFC Bank understands the need of customer support and service and has a 24/7 support helpline across all formats. Applicants can reach out to the bank through SMS, Webchat, Click2Talk and Phone Banking.
Free Insurance Cover: All personal loans approved by HDFC Bank come with an added benefit of personal accidental cover of up to 8 lakhs along with a critical illness cover of 1 Lakhs without any extra charges.
Personal loans from HDFC Bank come with a number of added benefits and incentives. HDFC Bank is known for their easy loan application process and wide branch network in every small town and even in many Indian villages. HDFC Bank also ensures maximum quantum of loan is offered to each applicant as per their financial credential, repayment history and CIBIL score. Some of the main advantages that make HDFC personal loan such a popular choice with loan applicants include:
Quick Loan Disbursal: HDFC Bank makes sure that loan applicants do not have to go through any long delays and has one of the fastest loan disbursal time compared to a lot of their private sector as well as public sector banks in the country.
Low Interest Rates: HDFC Banks offer competitive interest rates with loans available for salaried, self employed individuals, working professionals. Loans from HDFC Bank start as low as 15.75% interest rate for salaried individuals.
Online Loan Requests: HDFC Bank has been one if the pioneer banks to embrace technological up gradation. Taking this trait forward, HDFC Bank offers online loan applications and submissions with instant approval.
Low Prepayment Charges: HDFC Bank offers substantially lower prepayment charges for personal loans compared to other banks. Prepayment charges are completely waived off after a period of 36 months.
HDFC Bank has collaborated exclusively with BankBazaar.com, India’s most popular and well known financial marketplace to offer loan applicants an online loan submission facility. Users seeking personal loans with HDFC Bank can now simply use the online loan application tool at BankBazaar.com to check their loan eligibility and submit their loan applications if eligible.
Instant Loan Eligibility Check: The loan calculator tool at BankBazaar.com checks for personal loan eligibility for each applicant as per his or her financial details. This quick loan eligibility makes sure users do not have to spend a couple of days to know their eligibility for a personal loan. They can also apply for the loan instantly without visiting a bank branch.
Personalized Loan Quotations: BankBazaar.com’s loan calculator tool offers personalized loan offers for each applicant depending on his or her desired loan amount, tenure and personal financial track record.
Low Interest Rates: Loan applicants using Bankbazaar.com personal loan tool are offered the best rate of interest for their personal loan due to the active collaboration between HDFC bank and BankBazaaar.com.
Instant Approval: Eligible candidates who apply for HDFC Personal Loan through BankBazaar.com are given an instant e-approval, making them assured that their loan application has been processed, approved and forwarded to the designated loan department of the bank.
Real Time Tracking Facility: Users who submit their loan application online using BankBazaar.com can track the updates of their submission form using both email and SMS updates.
24/7 Customer Support: BankBazaar.com has a dedicated 24/7 customer support and helpline which is always ready to help with any grievances or questions from loan applicants.
With BankBazaar.com, applying for a HDFC Bank personal loan is a simple 3 step process.
Step 1: Fill up the loan eligibility form with correct personal and financial details. The tool checks for your personal loan eligibility instantly as per HDFC’s norms and offers customized loan options available for you.
Step 2: You need to choose a loan option as per your need and repayment capacity. At this stage, you can compare various loan options and choose the most appropriate one.
Step 3: After choosing the plan, click submit. Now you receive an instant e-approval from BankBazaar.com.
We forward your application electronically to the loan processing department of your nearest HDFC Bank branch and the bank gets in touch with you very soon. Users can also check the status of their loan application through SMS alters as well as emails.
HDFC Personal Loan Interest Rates are very attractive and hard to overlook. If an applicant applied for, and was found eligible for, a personal loan from HDFC then he/she will pay an interest rate between 15.75% and 20% if they are salaried individuals. For those who default on payments the interest rate charged is 24% per annum on the outstanding amount from the date of default. If an individual chooses to cancel the loan the bank will retain the processing fee and will also charge an interest for the time between the issuing of the loan to the date it was cancelled on. No other charges will be levied in this case.
|Rack interest rate||Salaried - 15.75% to 20%|
|Loan processing charges||Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 25000/- for Salaried Customers.|
|Prepayment||Salaried - No pre-payment permitted until repayment of 12 EMIs|
|Pre-payment charges||13-24 Months - 4% of Principal Outstanding, 25-36 Months - 3% of Principal Outstanding,>36 Months - 2% of Principal Outstanding|
|Loan cancellation charges||NIL (However client would be charged interest for the interim period between date of loan disbursement and loan cancellation and processing fees would be retained.)|
|CIBIL Report Copy Charges||Rs.50 per copy|
HDFC Bank Personal Loan Eligibility
HDFC Bank offers personal loans to all applicants fulfilling the basic eligibility criteria.
- If the applicant is salaried, which is to say that he/she is an employee of a private limited company or works for a public sector undertaking or a state or local body then they are eligible. Even doctors and chartered accountants are eligible to apply.
- The applicant must be between the ages of 21 and 60 years old.
- He or she must have a minimum of 2 years of work experience.
- When applying for a loan, the applicant must have worked with the current employer for a minimum period of 1 year.
- The net monthly income of the applicant should be Rs 12,000 per month or more.
- If the applicant is a resident of any of the following cities then he/she should have a minimum net monthly income of Rs 15,000 per month. Ahmedabad, Bangalore, Calcutta, Chennai, Cochin, Delhi, Mumbai.
- CIBIL scores will also be taken into account while deciding the eligibility of the applicant.
Eligibility Criteria for Salaried Individuals
|Minimum Monthly Income||Be earning at least Rs. 12,000/- per month net income (Rs. 15,000/- in Mumbai, Delhi, Bangalore, Chennai, Calcutta, Ahmedabad, cochin)|
|Loan Amount||Rs, 25000 to Rs, 15,00,000|
|Processing Fee||Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 25000/- for Salaried Customers.|
|Tenure||12 Months to 60 Months|
|Interest Rate||15.75 to 20%|
Eligibility Criteria for Self Employed Individuals and Working Professionals:
|Minimum Income||Rs 60000 p.a. taxable income for Doctors and CAs. Rs 100,000 p.a. taxable income for Engineers, MBA Consultants, Architects, CS.|
|Maximum Loan Amount||Rs. 15,00,000|
|Tenure||12 Months to 36 Months|
|Interest Rate||14.5 to 15%|
BankBazaar.com offers users a unique and state-of-art tool to calculate EMI for their loans in one click. BankBazaar’s online Personal Loan EMI Calculator is instant as well as accurate. Users can thereby understand their expenses towards the planned loan and adjust the tenure or loan amount to avoid later surprises.
BankBazaar.com’s online EMI calculator tool is very simple to use. All you need to do is to type the preferred loan amount, loan tenure and the applicable rate of interest. The EMI calculator then calculates and displays your EMI liability for the loan.
How do I know if I am eligible for HDFC Personal Loan?
If you wish to apply for HDFC Bank personal loan, you can apply it with ease at BankBazaar.com. You may fill the online quick application form with your personal and financial details. Our loan calculator tool automatically checks your Personal Loan Eligibility and sends you instant quote.
What are the advantages of applying HDFC Bank personal loan with BankBazaar.com?
There are many advantages of applying for a HDFC Personal Loan online through BankBazaar.com. You can avail the best possible rate of interest for all online loan application submitted to HDFC Bank through BankBazaar.com. Another advantage is instant e-approval of loan with real time tracking facility for the loan application.
What is the minimum and maximum amount of Personal Loan that I can get with HDFC Bank?
HDFC Bank offers personal loan after considering the monthly income and other liabilities of the applicant. Personal loans are available from a minimum limit of Rs. 50,000 to a maximum of Rs. 15 Lakhs depending on the repayment history and personal financial credentials of the individual borrower.
What is the tenure for which I can avail a Personal loan with HDFC Bank?
HDFC Bank offers a tenure period of 12 to 60 months for salaried individuals and 12 to 36 months for self employed individuals and working professionals. The bank can however expand the tenure up to 60 months for self employed people in some cases.
Does BankBazaar.com Charge for its Loan Calculator Tool Facility?
BankBazaar.com loan calculator tool is absolutely free to use and there are no hidden charges for all the services you avail through us.
Is BankBazaar.com providing any assistance for tracking my loan application?
BankBazaar.com offers loan applicants with an active tracking tool through both email and SMS allowing users to track daily updates of their loan application. Updates are also provided by SMS to each loan applicant.
How to use BankBazaar.com EMI Calculator Facility?
BankBazaar.com offers a unique EMI calculator tool allowing users to get a unique insight into their loan EMI. Users can use the tool to know the EMI breakup for all loans in one click, after entering the loan amount, tenure and rate of interest.
I am skeptical of sharing my personal data online. Is it safe?
BankBazaar.com is a premier financial portal and does not share any data with any third party other than the financial institution concerned. All data is sent in electronic form with high level of encryption making it safe and secure at all times.
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|Before you apply for the loan, Check your CIBIL Score for HDFC Personal Loan|
News About HDFC Bank Personal Loan
Avail spot loans at HDFC Bank ATMs
With over 11,907 ATMs and 2.27 crore customers using the bank’s debit card across the country, HDFC Bank has decided to introduce spot loans through ATMs. With this functionality into operation, customers will be able to apply for and avail personal loans from the ATM kiosk itself. This move came after the bank’s “10-second loan” offer through the bank’s portal became a huge success among its customers.
Existing customers of the bank can avail this service of fast personal loan in the same way as withdrawing money from the ATM. The offer can be seen flashing on the ATM screens and with just a few clicks, a customer can withdraw the required amount. The bank has decided to initially launch this ‘Loan on ATM’ service to customers holding salary or corporate accounts.
16th October 2015
Get loans against shares under the ‘Design Your Own Loan’ plan from HDFC Bank
HDFC Bank rolled out its new digital banking initiative called ‘Design Your Own Loan’. A kind of secured personal loan, customers can avail loans against shares that they pledge as security. This loan can be availed online, via netbanking, by customers at HDFC Bank who hold a demat account with the bank. Loan amounts vary from Rs.1 lakh to Rs.20 lakhs. Once the required details are submitted online, a bank representative will go to the customer to obtain signatures on pre-filled documents. Processing time for loans against shares under this plan is as short as one day. It otherwise takes up to 8 days to get a loan against shares. This scheme forms a part of HDFC Bank’s wider digital banking efforts Go Digital.
23rd September 2015
Positive growth, profits and low NPAs help HDFC Bank bag Best Asian Bank award
HDFC Bank was named the ‘Best Asian Bank’ at the 2015 Finance Asia program. A leading private banking institution in India, HDFC Bank outranked its competitors with its impressive growth and profit figures in addition to low NPAs.
Aditya Puri, the man at the helm of HDFC Bank, has been attributed with the distinction of driving the bank to success.
HDFC Bank offers a host of retail products and services that are well-received by a wide customer-base. The bank boasts an asset book of $85.6 billion and a loan book of $53 billion. Its main competitor is private bank leader ICICI Bank.
10th September 2015
HDFC Bank releases ‘Dhanchayat’ to raise awareness among loan seekers
HDFC Bank created and rolled out an educational film termed ‘Dhanchayat’ to raise financial awareness among people who transact outside the purview of the organised banking sector. The film aims at educating the masses on the benefits of dealing with formal banks.
Those with limited means or limited access to banking facilities or poor awareness of banking services, tend to deal with local money lenders who fleece borrowers. This is especially true for those seeking personal finance. These borrowers are charged exorbitant interest rates on personal loans. HDFC’s campaign is aimed at dispelling doubts by highlighting the importance of the transparent methods adopted by banks such as HDFC Bank in transacting with customers.
HDFC Bank’s campaign will be rolled out across the north, south east and west of India. 6 states have now been covered with more in the fray.
4th September 2015
HDFC bags place in Forbes Asia's top 50
HDFC has been successful in securing a place in the prestigious top 50 list of Forbes Asia. The bank could not make it even once till 2006, after which the bank has consistently and consecutively featured for 9 long years. HDFC which is the second largest private bank in India has a market capitalization of 43 billion dollars and a market share of 32.7 million customers. Forbes ran a cover story on HDFC’s 21 year long journey and the building of the bank from scratch.
Other Indian companies to feature on the list were Tata Consultancy Services, Tata Motors, Lupin, Titan etc. China had the most number of companies in the list as compared to any other country.
4th August 2015
HDFC Bank actively respond to the customer queries on social media
The second largest private bank HDFC Bank is most active on social media to respond to the customer queries. Simplify 360 released a report that analysed 9 banks. The report collected data and counted the mentions all the 9 banks had on Twitter and Facebook.
The report said that HDFC Bank replied to 45 per cent of the queries. HDFC Bank is most active on Twitter but they weren’t able to get much attention.
The report considered the social media interaction of all the 9 banks from June 13 to June 28. The 9 banks include SBI, HDFC Bank, Yes Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, Citibank, IDBI Bank and Standard Chartered Bank.
15th July 2015
A new digital high by HDFC – Watch Banking!
Taking the digital banking to a new high, HDFC bank has launched watch banking for Apple watch users. Watch banking does not require a new app to be downloaded but can be availed by upgrading the existing HDFC mobile banking app. Rival bank ICICI had launched watch banking earlier this year when it announced iWear, an innovative banking app for smart watches.
HDFC is looking to cash in the growing popularity of wearable devices and the potential demand for wearable gadgets in India. With watch banking HDFC will provide an initial 10 banking transactions in the current launch. Some of these include bill payments, recharges, viewing account information and requesting statements and chequebook etc.
6th July 2015
New Mobile App for Corporate Clients by HDFC Bank
HDFC Bank, one of the leading private banks in India launched its mobile application on last Thursday. This newly launched mobile application will help its wholesale customers to complete transactions online. The app can be used by these customers to carry out processes like letter of credit, remittances and bills processing etc. The bank strives to move its wholesale customers to mobile banking. The major motive behind the launch of this app is to help its corporate customers with enhanced and superior comfort and increase the speed of transactions.
The bank has received a good response so far and it further expects to get customers from all segments ranging from big corporates to small and medium enterprises (SMEs). HDFC Bank claims to be the first bank in India to move trade finance operations to the mobile.
24th June 2015
HDFC Bank to launch social media channel
HDFC Bank is set to connect with the masses through social media. Three months from now, a new, viable channel, social media banking will enhance the bank’s online channel.
Social media banking will work through the bank’s mobile app called Chillr. Currently, customers can transfer funds via the phone’s contact list. This will be enhanced to allow payments to be made to merchants as well.
To strengthen its online internet and mobile channels, HDFC Bank has launched different initiatives such as video banking, an iWatch app, Chillr, mobile apps in different languages and 10 second loans online. The bank has received a strong response to their initiatives and has seen a shift from traditional branch banking to online channels. Mobile banking has recorded a Rs.2,500 crore increase in value from Rs.3,500 crore in Sept. 2014 to Rs.6,000 crore in Mar. 2015.
21st May 2015
HDFC Bank to set world record
with personal loans in 10 seconds
Come May 2015, HDFC Bank will beat global records with the introduction of personal loans that can be availed within 10 seconds. This will be offered to the bank’s current customers through net banking. This service will be available throughout the day which means the customers can access funds through these loans at any time of the day or night.
The scheme is still in the testing phase, due to be completed for launch in three weeks. With a 10 second turnaround time, this tops Poland’s MBank which disburses loans in 30 seconds. This has been effected with the help of improved technology. Credit bureaus and analytics have also played a major role.
Once implemented, this scheme is set to redefine retail banking in India and strengthen HDFC Bank’s position as a leading player in the banking industry.
4th May 2015
HDFC Bank plans to launch mobile banking app for Apple watch
HDFC Bank, the second largest private sector bank of India, is planning to launch i-watch or watch banking designed for Apple watches. It will be the first of its kind. The app is set to launch by the end of April. HDFC will be the fourth bank in the world to have such an app.
HDFC Bank provides financial products and services to 28.9 million customers. It offers services of savings account, current account, auto loans and agricultural loans and demat account. The bank was incorporated in August 1994.
23rd April 2015
New Mobile Solution for Merchants by HDFC Bank.
India’s largest private sector bank, HDFC Bank is going to launch a mobile solution for merchants to help customers who like to buy goods and services over the phone. HDFC Bank develops this solution to hit the growing e-commerce market. This new service will be launched nationwide. As per this service, a merchant will get a console when he signs up for the service with HDFC Bank, which can be operated from his desktop and mobile. It enables merchants to send a bill or attach a picture to a customer from his mobile phone or desktop. The customer will receive a link through SMS or email which will lead to a payment page where the customer can safely enter his card details and make the payment.
This new service offered by HDFC Bank will greatly benefit small merchants. The service comes with a plethora of benefits like receiving a merchant’s bill on mobile phones or desktops for which no app is required. Customers can pay instantly through their mobiles. This improves convenience for merchants and customers. The service will highly benefit restaurants, service providers, florists, grocers, small shops, e-tailers, chemists and professionals.
13th March 2015
HDFC Bank Looks Towards Raising Fresh Capital
HDFC Bank Ltd is planning to raise about ?4,500 crores through infrastructure bonds by the end of next month. Fresh out of a share sale earlier this month, HDFC Bank is all set to cash in on the expanding economy as well as falling rates – a trend that will continue for the next two fiscals.
As retail demands gain traction, the applications for retail personal loans is also increasing. The banking sector is seeing a decline in stress as falling interest rates, lower inflation, and higher economic activity have helped raise capital.
Following in the footsteps of Axis Bank Ltd, Kotak Mahindra Bank Ltd, Andhra Bank, and ICICI bank Ltd, HDFC Bank is all set to increase its presence in the infrastructure lending sector – currently amounting to 15% of its overall business. By doing this, the bank will feel no pressure from the RBI to give up to 40% of overall loans to small businesses, agriculture, and financially weaker sections of the country, as is the norm in all other sectors of lending.
23rd February 2015
HDFC Bank’s Personal Loans Segments Prompt Credit Growth
Even as HDFC Bank’s net profit showed a 20% increase for the third-quarter of its fiscal year, loan growth remains a point of focus for improvement. The country’s second-largest lender saw loans grow 17% in Q3, which was not comparable to growth in prior quarters but considering the backdrop of a poor economic environment in preceding years, loan growth across banks has been muted. This prompted many banks to push for growth in the unsecured loan segment.
HDFC Bank’s retail loan book saw a rise in personal loans, as did most banks vying for business amidst poor uptake from corporate segments. Credit cards also presented opportunities for more business which the bank capitalised on. However, unlike many other banks, HDFC Bank maintained quality loan accounts and its bad loans remained at an admirable 1%.
Although banks did witness rise in demand for credit from the corporate segment, it was mainly from the SME borrower-class which is considered riskier than large corporate borrowers.
Until large corporates and secured retail loans show greater increase in demand, banks such as HDFC Bank will have to continue to strive for profits through quality retail loans and controlling operating costs.
17th February 2015
HDFC Bank Posts 20.2% Growth In Q3 Net Profits
HDFC Bank, India’s second largest lender after State Bank of India (SBI), posted a growth of 20.2% in net profits for the third quarter of the fiscal year. This increase is attributed mainly to an increase in loans, which saw a 17% increase for the quarter. Loan growth was prompted by demand for corporate credit, which saw an uptick in response to economic growth expectations. Retail credit also saw growth and both segments are expected to continue on an upward trend with more positive economic policy impetus from the government.
The economic slowdown experienced during the Congress-rule was reflected in banks’ loan books. Lending to corporates had reduced with companies holding off on expansion activity. Banks, vying for business took on sketchy customers which resulted in an increase in NPAs. However, unlike many public-sector banks which faced this issue, HDFC Bank maintained its asset quality keeping bad loans at bay.
Positive Q4 results are expected given a positive economic outlook and the strong capital stance of HDFC Bank to meet expected credit growth.
16th February 2015
Currently there is a plethora of loan products that are being launched on a regular basis by the competing financial institutions in order to woo the prospective borrower. The range of personal loan products that available in the market is wide and often confusing. Choosing the right personal loan product that suits your requirements best can be quite a daunting task. Here are a few parameters that can be used to evaluate the suitability of a personal by comparison among similar products available in the markedly currently. Read more
3rd May 2014
While it is not very difficult now to take a personal loan, it is not so simple to pay back the loan. This is because personal loans are unsecured loans, and come with high interest rates. As a result, the Equated Monthly Instalment factor (or the EMI) can be a drain on your salary, depending on the amount and tenure for which you borrow. Read more
11th March 2014