Borrowers can apply for HDFC Bank Personal Loans at interest rates starting from 10.50% for up to Rs 40 lakh. HDFC Personal Loan is available for tenures of up to 6 years.
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HDFC Personal Loan Details |
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|---|---|
| Interest rate | 10.50% p.a. onwards |
| Loan amount | Up to 40 lakh |
| Tenure | Up to 6 years |
| Minimum income | Rs 25,000 |
| Processing fee | Up to Rs 4,999 |
| Prepayment charges |
For salaried:
|
| Credit score | 650 |
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Types of Personal Loans |
Interest rates |
|---|---|
| Marriage Loan | 10.50-20.40% p.a. |
| Home Renovation Loan | 10.50-20.40% p.a. |
| Golden Edge Personal Loan | 10.50-20.40% p.a. |
| Personal Loan for Teachers | 10.50-20.40% p.a. |
| Personal Loan for Women | 10.50-20.40% p.a. |
| Personal Loan for Salaried | 10.50-20.40% p.a. |
| Personal Loan for Government Employees | 10.50-20.40% p.a. |
| Personal Loan Balance Transfer | 10.40% p.a. |
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| Year | Principal(A) | Interest(B) | TOTAL PAYMENT(A + B) | BALANCE |
|---|
It is a special personal loan scheme for consumers getting a minimum monthly income of Rs 75,000. They can use this loan option to fulfill their financial requirements for home renovation, vacations, medical emergencies, weddings, and children's higher education.
HDFC Bank offers a marriage loan scheme for Rs 50,000 to Rs 40 lakh for meeting wedding expenses.
It is a vacation loan scheme for meeting expenses related to travel like flight tickets, accommodations, etc.
HDFC Bank offers personal loans for home renovation to borrowers looking for financial aid for meeting expenses related to home renovation, like tiling, white-washing, kitchen remodeling, etc.
HDFC Bank applicants can avail of Personal Loans for Teachers to meet their personal requirements. This loan facility is for teachers employed at private or government schools and colleges
Women applicants of HDFC Bank can avail of Personal Loans for Women to meet expenses related to higher education, travel, wedding plans, emergency expenses, etc.
Existing personal loan borrowers of other banks and NBFCs can also avail of HDFC Bank Personal Loan to transfer their outstanding personal loan to HDFC Bank at lower interest rates.
| Processing fee | Up to Rs 4,999 |
| Pre-payment in part/full | NIL until repayment of 12 EMIs (salaried) Part-payment allowed up to 25% of Principal Outstanding.* |
| Pre-payment charges on principal outstanding/part payment charges | Salaried:
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| Loan cancellation charges & rebooking charges | NIL & Rs 1,000 |
| Delayed installment payment charges | Delayed installment payment charges 18% p.a. + taxes |
| Repayment mode change charges | Rs 500 |
| Repayment schedule charges | Rs 50 per instance |
*Note: Allowed once in the financial year and twice during the loan tenure.
If you are looking to apply for HDFC personal loan, you can get in touch with Eazybankloan.com. All you have to do is click on the website and fill in the details. Our representatives will get in touch with you for a seamless and quick process.
Now the banks or financial institutions provide personal loans for various purposes such as for home renovation, family marriage, child education, medical expenses, and any other emergencies. For applying the loan, visit the website of the bank or financial institution and choose the specified bank for applying the loan. At first, you have to fill the instant personal loan application with the required details. As a result, you will notice that the loan can avail within 24 hours of approval.
For getting a personal loan, you have to submit many of the important documents on the websites of banks or financial institutions that can provide bank loans from multiple banks. Such as:
EMI calculator is used in the personal loan for calculating the different consequences of the loan in 3 states such as loan amount which defines the rupee's value of the loan that you have borrowed from the bank, the interest rate which defines the amount charged by the bank for your taken loan and none other than the tenure of the personal loan that defines the period of which you take the personal loan.
A personal loan can help millions of people to meet their shortfall financial crisis such as buying a new car, sudden medical expenses, education of children and other things. The main reason behind taking the personal is, it is less expensive than other forms of credit and has a lower interest rate that allows you to pay off the debt faster as well as affordable monthly payments during the loan term.
People are generally applied for taking personal loans to cover up their medical bills, debt consolidation, and home improvements. The personal loans are commonly meant to meet the unavoidable pay off and urgent expenses. On the other hand, you can also pay off the personal loan for paying less urgent things in your life such as weddings, vacations and many more.
Yes, a personal loan can be available for a holiday of travel purposes with a loan term between 1 to 7 years. The reason behind using the personal loan for travel purposes is,it can offer a fixed interest rate, fixed monthly payment, fixed repayment schedule and easy to apply for online. So, while planning for holiday travel by applying the personal loan make sure that the trip doesn't ruin your finances.
The personal loan is commonly defined as a fund that can be provided to the people of immediate cash requirements or financial needs. So, when you are applying for a personal loan then the lender never asks you about the end-user and does not require any type of collateral fee or security such as property, gold, etc. for approving the loan.
When you are deciding to apply for the personal loan online, you have to follow a few of the below steps:
Now the loan applicants can easily check the status of their personal loan by availing the online calculators provided by the bank or financial institutions. For checking the status of the personal loan the applicants first need to visit the online portal of the bank with the following inputs. Such as:
As we know that the personal loans are an unsecured form of a loan that can be applied for fulfilling the immediate requirements. Yes, you can get a personal loan instantly for overcoming your temporary financial crisis. Without any restriction, the amount you borrowed in the personal loan can be used for any purpose you want.
In other words, the personal loans are also called as installment loans. So, the borrowed money can be paid in installment with some interest over the life of the loan which can be generally ranged from 12 to 84 months. Throughout the process, once you have paid the loan in full, your account will be closed automatically. Shortly, if you need more money, then you can apply for a new personal loan.
A credit score is a number that is indicating your creditworthiness. Through the credit score, the lenders can determine your ability to repay the debts. While applying for a personal loan, a credit score is very important means you have a chance of getting the loan easily. On the other hand, the higher your credit score, the lower your interest rates will be and vice versa.
The maximum amounts qualify for your personal loan is based on your creditworthiness. On the other hand, the loan amount also determined through your monthly income. Most banks can limit the personal loan at Rs. 25 lakhs to an individual. In a few of the cases, the loan applicants are eligible for getting their personal loan amount up to 30 times of their monthly income.
Before approving a loan application, the lenders generally give more emphasis on the credit score of the borrowers. If you have a low credit score, then you will get a low amount of loans with higher interest rates because higher creditworthiness can reduce the loan interest in a few instances. So, for approving a higher amount of personal loans, always tried your best to increase the credit score.
