HDFC personal loan is offered at interest rate starting 11.25% p.a.. The lender offers multiple loan tenure options, quick processing, and great customer service. Check your eligibility and apply for a loan today.
|Interest Rate||11.25% to 21.50% p.a. (Rack interest rate)|
|Loan Amount||Rs.50,000 to Rs.40 lakh|
The various fees and charges that are levied by HDFC Bank are:
|Loan processing fee||Up to a maximum of 2.5% of the loan amount, subject to a minimum fee of Rs.1,999 and a maximum fee of Rs.25,000|
|Overdue EMI interest||2% per month will be charged on the principal or EMI that is overdue|
|Stamp duty and other statutory fees||As per the laws of the state that the applicant resides in|
|Cheque swapping fee||Rs.500|
|Amortization schedule fee||Rs.200|
|Cheque bounce charges||Rs.550 per event|
|Incidental or legal charges||At actual|
The interest rates offered by HDFC ranges from 11.25% to 21.50% per annum.
To avail a personal loan from HDFC Bank, you will need to meet the eligibility criteria mentioned below:
These are the documents you may be required to submit when applying for a personal loan from HDFC.
|Proof of identity||Aadhaar Card, Driving Licence, Passport, or Voter ID Card|
|Proof of address||Voter ID Card, Aadhaar Card, Passport, or Driving Licence|
Let’s consider how the EMI calculation works for HDFC Bank personal loan. Let’s take a personal loan of Rs.1 lakh for a tenure of 6 months. Let’s assume that HDFC charges an interest rate of 15.5% p.a. For the repayment tenure, you must pay an EMI of Rs.17,428. The loan repayment schedule is given as follows:
|Year||Principal||Interest||EMI (principal + interest)||Balance||Percentage of loan paid to date|
|Fees and charges||HDFC Bank Personal Loan||Aditya Birla Capital||Bank of India Personal Loan||Citibank Personal Loan|
|Interest rate||11.25% p.a. onwards||14% p.a. onwards||13.20% p.a. onwards||10.99% p.a. onwards|
|Processing fee||2.5% + GST||2% + GST||2% + GST||0.25% to 3.00% + GST|
|Foreclosure charges||2% to 4% of the outstanding loan amount||3% of the outstanding loan amount||N/A||Up to 4% of the principal outstanding|
|Late payment fee||2% of the overdue amount per month||2% of the overdue amount per month||Contact the bank for details||Contact the bank for details|
Even though the processing fee stands at 2.5% of the loan, the interest rates start at 11.25% p.a. HDFC’s personal loan preclosure charges stand at 2% to 4% of the outstanding balance. The bank offers quick disbursal of the loan amount, with pre-approved customers getting the money within a matter of seconds
Before you apply for a personal loan from HDFC Bank, ensure that you go through the loan particulars, check your eligibility, and are familiar with the terms and conditions of the lender.
|HDFC Retail Agri-Loans||HDFC Bank Tractor Loan||HDFC Loan Against Property||HDFC Agriculture Loan|
|HDFC Loan against Securities||HDFC Loan Against Rent Receivables||HDFC Insta Jumbo Loan||HDFC Insta Loan|
You can repay your loan amount in Equated Monthly Installments (EMIs). The loan repayments can be done via post-dated cheques, ECS, or via a standing instruction to debit the repayment amount from your HDFC Bank account.
You can take a top up loan from HDFC when you opt for a balance transfer with HDFC.
No, HDFC Bank only offers personal loans to salaried individuals. Applicants are required to be employed with a private, public sector, or government body at the time of taking the loan.
No, HDFC Bank charges a fixed rate of interest for personal loans.
For personal loans that were disbursed on or after 1 April 2018, you can make part-payments, provided you have paid at least 12 EMIs.
What are the conditions that are applicable when making part-payments?
If you take a personal loan from HDFC Bank, you will need to repay the due amount within 1 year to 5 years (12 to 60 months).
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