Wishes small or big, on accomplishment gives immense joy. These wishes sometimes may require huge finance. At such time instead of forgetting about these dreams, we should find the way out to achieve them. In today’s time, it has become easy to arrange funds because of availability of loans. The customers can avail personal loan to hack the individual needs. There are various lenders that provide such loans. One amongst them is HDFC.
It is one of the most trusted banks in India. It offers you the personal loan to fulfill all your personal wishes and needs. The product is a solution to all your financial related problems. HDFC personal loan is available for eligible candidates at competitive rates. Read the section provided below to grab the detailed information about the product.
HDFC Personal Loan Interest Rates & Charges
The candidates availing the benefit of the loan product have to pay the following fees and charges:
Rate of Interest- The borrower has to pay the interest at the rates applicable on the amount and profile of the individual. The rate is customized and decided on the basis of individual’s profile and the amount borrowed.
Processing Fee- The candidates have to pay up to 2.5% of the loan amount subject to a minimum of ₹ 1000 & maximum of ₹ 25,000 as processing fee.
Pre-payment Charges– The prepayment charges are as follows:
- No prepayment allowed before 12 EMI’s
- 13- 24 months – 4% of the principal outstanding amount
- 25-36 months – 3% of the principal outstanding amount
- More than 36 months – 2% of the principal outstanding amount
The suitable candidates who stand by the HDFC Personal Loan Eligibility norms can avail the benefit of the product offered by the bank.
HDFC Personal Loan Eligibility
The loan can be availed by eligible candidates. The eligibility criteria are as follows :
- The applicant should be at least 21 years of age at the time of application and the maximum age should be at least 60 at the time of loan maturity.
- The applicant should be a salaried individual which include salaried doctors, CAs, an employee of private limited companies, an employee of public sector undertaking (PSU’s), central or state government.
- The minimum net monthly income of the applicant should be ₹ 12,000 per month and for few cities like Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad and Cochin the net monthly income should be ₹ 15,000 per month.
- The minimum work experience should at least be 2 years. The applicant should have the minimum of 1year work experience with the current organization.
- The applicant should have a good CIBIL score.
- Duly signed application with recent photographs.
- Identity proof – the copy of Passport, Voter ID card, Driving license, Aadhaar card
- Residential proof – the copy of electricity bill, water bill, telephone bill, passport
- Bank Statement- Last three months bank statement
- Income proof – Latest salary slip or current dated salary certificate with form-16
HDFC Personal Loan EMI Calculator
Calculating the EMIs is a complex process right? Your mindset is going to change now when I will tell you about HDFC Personal Loan EMI Calculator. The tool has been designed to make the process of calculation of monthly EMIs simpler and hassle free. You can now say goodbye to the manual calculation of the EMIs and instead use the magical tool to do the same. You have to simply enter the details like tenure period, loan amount and rate of interest. The tool will take care of the rest. It will give you information relating to your total interest payable and monthly EMI amount.
Factors Affecting Personal Loan Eligibility-
- Monthly Income
- Any Other Running Credit
- Credit History
- Job Stability
Features and Benefits –
- Competitive interest rates
- Special offers, interest rates and charges for HDFC Bank account holders
- Loans sanctioned within a day
- Quick disbursal and easy documentation
- Candidates can apply online
- Convenience of contacting through SMS, Web chat, Click2Talk, Phone Banking and across all branches
- Zero hidden charges, reasonable processing fees and utmost clarity on the loan process with up-to-date information about the loan application at each stage
The HDFC bank personal loan is a tailor-made financial solution for all your financial related problems. Personal loan interest rates are reasonable to smoothen the loan journey of the customer. You can apply for the loan anytime through net banking or by visiting the bank branch and get funds quickly.