Get attractive rates on HDFC personal loans starting at 10.75% p.a. HDFC offers loans of up to Rs.15 lakh with flexible tenures of up to 5 years. The bank charges a processing fee of up to 2.5% of the loan amount.
Coronavirus has been branded a pandemic by World Health Organisation (WHO). The global markets have suffered and the governments all over the world have taken steps in order to fight this deadly disease. The banks in India are no different, and in order to fight Covid-19, HDFC Bank just like other Indian Banks have taken some serious steps. We will list down some of the highlights:
|Rack Interest Rate||10.75% to 21.30% p.a.|
|Loan Amount||Rs.50,000 to Rs.15 lakh*|
*Amount can vary depending on your eligibility and is solely at HDFC’s discretion
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|
|Proof of identity||Aadhaar Card, Driving Licence, Passport, or Voter ID Card|
|Proof of address||Voter ID Card, Aadhaar Card, Passport, or Driving Licence|
You can use BankBazaar HDFC Personal Loan EMI Calculator to check your monthly prepayment amount. All you need to do is enter your preferred loan amount, tenure, interest rate and processing fee Hit “Calculate” to check your EMI and processing fee.
Let’s take a personal loan of Rs.1 lakh for a tenure of 6 months. 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:
|Months||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||10.75% p.a. onwards||11% p.a. onwards||12.90% 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|
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.
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).
You can check the status of your HDFC personal loan application by visiting the website of HDFC bank. All you need to provide is the reference or proposal number along with the date of birth or mobile number.
The COVID-19 crisis has posed a huge challenge for customers. Hence, based on RBI guidelines, HDFC offers its customers the option to opt for personal loan moratorium. All HDFC Bank customers who have taken personal loan prior to 1st March 2020 are eligible. Customers having overdues before 1st June 2020 are also eligible for personal loan moratorium. However, for the latter, requests shall be considered solely at HDFC’s discretion.
HDFC bank personal loan customer care executives can be contacted by at the listed below numbers depending on the city of your residence:
You can call on these numbers between 8 a.m. and 8 p.m. on all days including Sundays and bank holidays.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.