HDFC BANK PERSONAL LOAN

HDFC bank is one of the leading providers of personal loans which individuals can enjoy with a range of comfortable features and sound benefits. At times when your funds run short and there are plans to keep your word for, personal loan makes a good source. Whether you want to spend a vacation on picturesque Maldivian beaches or there are piles of wedding expenses which you are unable to pay off with the available funds, sometimes all you need to do is get a personal loan and get financial support. With HDFC bank personal loan, you can make it possible. There are competitive interest rates, easy repayment options, quick disbursement and much more that awaits you in the store.

HDFC Personal Loan Interest Rates & Charges

Features and Benefits of HDFC Personal Loan

HDFC bank personal loan is a type of loan which you can avail to meet your personal purposes. The loan is packed with many noteworthy features when it comes to interest charges, tenure and many other aspects. 

Here are the features and benefits of HDFC personal loan:

1. Funds for Personal Purposes : HDFC bank allows you to take advantage of personal loans to treat yourself at times of financial needs. You can avail this loan to fund any of your personal purposes which include paying off wedding expenses, vacations and paying off your debts. This loan proves to be a helping hand at times when nothing seems to be suiting your plans. 

2. Loan Amount : HDFC bank personal loan offers the loan amount ranging from Rs 50,0000 to Rs 40 lakh. You should inculcate the total amount you are running short of and apply for it with HDFC personal loan. 

3. Interest Charges : HDFC bank provides personal loans at competitive rates of interest. The interest rate on this loan starts at 10.75% per annum and goes up to 21.30% per annum. Also, the interest charges are determined by the loan amount an individual is availing, the repayment tenure as well as the credit history.

4. Repayment Tenure : HDFC bank personal loan comes with a flexible repayment tenure. The period ranges up to 5 years. 

5. Prepayment : If you have sufficient funds to repay the personal loan before the tenure ends then you can make the prepayment and close the loan sooner. HDFC bank allows you to foreclose your loan and avoid interest charges. However, the bank applies prepayment charges in this case. 

6. Easy Procedure : Applying for a personal loan from HDFC bank is easy. You can for it apply online or offline and the bank eases your time with minimum documentation. 

7. Quick Approval and disbursement : The bank treats you with quick approval and fast disbursement. You will get the loan amount within a few minutes if you are a pre-approved customer.

HDFC Bank Personal Loan Eligibility

There are some eligibility standards set by HDFC which help determine whether you qualify to avail HDFC personal loan or not. Your eligibility for loan depends on various factors including age, income, employment. 

Here is the eligibility criteria for HDFC Pvt personal loan:

1. The minimum age of an applicant should be 21 years. 

2. The maximum age of an applicant should be 60 years. 

3. The minimum net income of HDFC bank salary account holders should be at least Rs 25,000 per month. It should be at least Rs 50,000  per month for others. 

4. Individuals who are employed in a public sector undertaking, private limited companies or with a Central, state or any local government body are eligible. 

5. Individuals should have a working experience of at least 2 years.

Apart from the requirements mentioned above, the bank also takes credit score into consideration when determining your eligibility for loan. 

Document Required for HDFC Bank Personal Loan

You need to submit certain documents in order to successfully avail a personal loan by the bank. Here are the documents required for HDFC bank personal loan application:

COMPARE OTHERS BANK PERSONAL LOAN INTEREST RATE

HDFC Bank Personal Loan EMI Calculator

One thing you should do when applying for a loan is calculate your EMI which can be done online. You can use the HDFC EMI calculator in order to see the amount of EMI you will have to pay every month. Doing this helps you restructure your budget and reassess the loan tenure you want to borrow the loan for. 

Here are the simple steps you can follow to use the HDFC Personal loan EMI calculator:

1. Visit the HDFC official website.

2. Go to the personal loan section.

3. You should be able to see the EMI calculator on the page now.

4. You have to input the loan amount you are availing, loan tenure and the rate of interest in the fields. 

5. Hit the “Calculate” button once you have entered the details.

6. You will now be able to see the Equated Monthly Installments (EMIs) you will have to pay every month. 

How to Calculate EMI of HDFC Bank Personal Loan

You Can also calculate personal loan EMI using the formula :

P x R x (1+R)^N] / [(1+R)^N-1]

Where;

• P= Principal or your loan amount
• R= Rate of interest
• N= Tenure (loan term in number of years)

How to Track HDFC Bank Personal Loan Application Status

You can use the following channels if you want to check the status of your HDFC bank loan application:

• Contact the HDFC bank customer helpline and ask the executive about the loan application status.

• You can track the status of  your HDFC loan application via HDFC mobile app. 

• Visit the official web portal of the bank.                   

Other Loans Provided by The HDFC Bank:

How to Apply for HDFC Bank Personal Loan

There is no fuss in applying for the personal loan HDFC bank. You can either apply for the loan offline or quickly start the application online. Here is what you need to do:

1. Apply for loan offline : You can apply for the HDFC Personal loan offline. In order to do that you need to visit the nearest branch of the bank. There, the official will assist you with the application procedure. Make sure you carry all the necessary documents when you visit the branch. 

2. Apply for loan offline : You need to follow these steps in order to apply for HDFC bank personal loan online:

1. Navigate to the official website of HDFC bank.

2. Now, stop at the “Borrow” section and click on the “Personal Loan” option.

3. Once you are on the personal loan page, you need to hit the “Apply easily” button. 

4. After, you will be required to input all the required details. 

HDFC Bank Personal Loan Customer Service

You can contact HDFC customer service if you have any query, complaint or any grievances. Here are the HDFC customer helpline numbers available in India:

• Mumbai: 022-61606161

• Pune: 020-61606161

• Kolkata: 033-61606161

• Bangalore: 080-61606161

• Chennai: 044-61606161

• Cochin: 0484 - 6160616 

• Hyderabad: 040-61606161

• Delhi and NCR: 011-61606161

• Chandigarh: 0172-6160616

• Jaipur: 0141-6160616

• Ahmedabad: 079-61606161

• Indore: 0731-6160616

• Lucknow: 0522-6160616

FAQs on HDFC Bank Personal Loan

1. How can I check my HDFC loan status?

You can consider the following ways in order to check the status of your HDFC loan application:

• Contact the HDFC customer service and ask the executive about the status of your loan application. 

• Visit the official website of HDFC bank and track the loan application status. 

• You can use the HDFC mobile application in order to track the status of HDFC loan application.

2. Can I take a HDFC top up loan?

Yes, you can take the HDFC top up loan. You can do this when you go for balance transfer with the bank. 

3. Can I get an HDFC personal loan on floating interest rates?

No. HDFC bank personal loans can only be availed at the fixed rates of interest. 

4. How can I repay my HDFC personal loan?

You can repay the loan in cash or cheque. You can also for channels like ECS or standing instructions.