HDFC Bank Personal Loan

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HDFC Bank logo


You have options to borrow up to Rs 25 lakhs or up to Rs 15 lakhs in case you are self employed without having a guarantor or a collateral security.


Once the documentation is done your personal loan will be disbursed within 2 days and you can also avail an accident cover along with this loan.

HDFC Personal Loan Interest Rates
Ranging between 14.75% to 20.70%

Other Personal Loan Details

Loan Amount – up to Rs 25 lakh (upto 15 lakh for self employed)
Processing Fee – 2.5%
Late Fee – 24% p.a
Loan Tenure – upto 60 months
Preclosure Condition – preclosure can be made after the payment of 12 EMIs
Preclosure Charges

13 – 24 months – 4% of the prepaid amount
25 – 36 months – 3% of the prepaid amount
Greater than 36 months – 2 % of prepaid amount
Why You should Apply for HDFC Personal Loan

After 36 months you have to pay only 2% preclosure charges which is lower than other banks.
Zero Hidden Charges, Lowest Processing Fee, and Convenient Repayment options.
Minimal paperwork and documentation.
Cons of HDFC Personal Loan

Interest rate is comparatively on the higher side.

Eligibility Criteria

EligibilitySalariedSelf Employed/Business
Age21 to 6025 to 65
Monthly Income/ProfitRs.12,000 per month (net income)
Rs.15,000 per month in Delhi, Mumbai, Chennai, Bangalore, Calcutta, Hyderabad, Ahmedabad, Pune and Cochin.
Rs 1 Lakh per annum
Minimum Work Experience2 years. Also tenure should be a minimum of 1 year with current employer.5 years at least in current business.
CIBIL Score750+750+
Loan Amount25 lakh15 lakh
Documents Required
SalariedSelf Employed/Business
Application FormApplication Form
ID Proof, Address ProofID Proof, Address Proof
Latest salary slip with form 16Income report with form 16
3 Month bank statement3 Month bank statement

Comments

  1. Mahesh BaneJuly 27, 2023 at 3:01 AM

    We can now apply for 2 Lakh Personal Loan instantly from the loan app were you can get your loan instantly. Without going anywhere you just have go complete the online procedure for loan.

    ReplyDelete

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