If you’re looking for a personal loan to help you with a financial emergency, you may want to consider applying for an HDFC Personal Loan. Not only do these loans have low-interest rates, but they also come with a wide range of benefits and eligibility requirements. In this article, we’ll outline all of these details so that you can make the best decision for your needs.
HDFC Personal Loan Highlights
| Interest Rate | Starting at 11.00% p.a. |
| Loan Amount | Up to Rs 40 lakh |
| Tenure | Up to 6 years |
| Processing Fee | Up to 2.50% of the loan amount |
HDFC Personal Loan
HDFC offers personal loans to individuals and families at a wide range of interest rates. Bank offers personal loans at interest rates starting from 11.00% p.a. You can avail a personal loan for a maximum tenure of 6 years and the bank charges you a processing fee of up to Up to 2.50% of the loan amount (maximum Rs 4,999) for this personal loan.
The HDFC Personal Loan offers borrowers a flexible option to borrow money for various purposes such as home purchases, education, medical expenses, etc. Available loan amounts range from Rs 50,000 to Rs 40 lakh with NBFCs like HDFC offering lower interest rates than banks.
HDFC Personal Loan Interest Rate
If you are thinking of taking a personal loan from HDFC then make sure to compare the interest rates offered by different banks. The interest rates for personal loans from HDFC start at 11.00% p.a.
The final interest rates offered to the loan applicant would vary according to the credit score, monthly income, job profile, employer’s profile, etc. of the loan applicant. So it is essential to compare the rates before making a final decision.
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HDFC Personal Loan EMI Calculator
In order to get a personal loan, it is important to calculate the EMI first. The EMI stands for Equated Monthly Installment and is the amount that you will have to pay every month on your loan. There are various factors that go into calculating the EMI, such as the interest rate and the tenure of the loan. By understanding these factors, you can easily find a personal loan that is right for you.
Types of HDFC Personal Loan
HDFC Bank is a leading bank in India and offers a wide range of products and services to its customers. The bank has Personal Loan products to cater to the different needs and wants of borrowers. Here are the types of Personal Loan products offered by HDFC Bank:
1. Marriage Loan
If you are looking for a personal loan to help you with your marriage, then HDFC Bank is the perfect bank for you. Bank offers a wide range of personal loans that can help you finance anything from your wedding expenses to your home renovation project. the bank also has special schemes specifically designed for couples, so you can be sure that you will find the right loan for your needs.
- Loan Amount: Rs 50,000 to Rs 40 lakh
- Tenure: 12 months to 60 months.
- Processing Fees: Up to 2.50% of the loan amount
2. Personal Loan for Home Renovation
Do you need a home renovation loan? If so, HDFC Bank is the right bank for you! Bank offers a variety of home renovation loans that are designed to help you improve your home’s value and enhance its functionality
- Loan Amount: Up to Rs 40 lakh
- Tenure: Up to 60 months
- Processing Fees: Up to 2.50% of the loan amount
3. Travel Loan
The personal loan for travel offered by HDFC Bank has an interest rate of 11% and a tenure of up to 60 months. The maximum loan amount that you can avail of is Rs 40 lakh. The loan can be used to finance any type of travel, including domestic and international trips.
4. Personal Loan for Salaried
If you are salaried, you might be looking for a personal loan to cover some unexpected expenses. If that’s the case, HDFC Personal Loan is definitely the right option for you.
- Tenure: Up to 60 months
- Loan Amount: Rs 50,000 to Rs 40 lakh
- Processing Fees: Up to 2.50% of the loan amount
5. Personal Loan for Women
If you’re a woman and you’re looking for a way to fund your higher education, travel or wedding plans or to deal with emergency expenses, HDFC Bank is here to help. You can get a personal loan from the bank to cover any of these purposes.
- Tenure: Up to 60 months
- Loan Amount: Rs 50,000 to Rs 40 lakh
- Processing Fees: Up to 2.50% of the loan amount
6. Personal Loan for Teachers
If you are a teacher working in a private or government school or college, HDFC Bank has a personal loan for you that can help you meet any added overheads.
- Loan Amount: Up to Rs 40 lakh
- Processing Fees: Up to 2.50% of the loan amount
7. Personal Loan for Government Employees
HDFC Bank offers a personal loan to government employees for meeting their diverse financial needs. The loan is available to individuals who are employed in government sectors. This makes it ideal for people who need short-term financial assistance.
- Loan Amount: Up to Rs 40 lakh
- Tenure: Up to 60 Months
- Processing Fees: Up to 2.50% of the loan amount
8. Balance Transfer
If you are an existing personal loan borrower of another bank and want to switch to HDFC Bank, Balance Transfer facility offers you a lower interest rate on your existing personal loans. You can transfer your loans from any other bank/NBFC to HDFC Bank at a low-interest rate. This way, you can get a better deal on your loans and have more affordable monthly payments.
- Processing Fee: Starting at Rs 3,999 + GST
HDFC Personal Loan Eligibility
If you are looking for a personal loan from HDFC Bank, be aware of the following eligibility requirements:
| Eligible Applicant | Private sector employees, public sector employees, and employees of central, state and local bodies |
| Age | Minimum 21 years & Maximum 60 years |
| Work Experience | Applicants with at least 2 years of work experience, and 1 year with the current employer |
| Income | At least Rs 25,000 per month |
HDFC Personal Loan Documents Required
you’ll need to provide some documentation for this loan. Here’s what you’ll need to bring with you when you visit the bank:
| Proof of Identification | Aadhaar card driving license voter ID passport |
| Proof of Residence | Utility bills lease agreement Aadhaar card driving license |
| Proof of Income | Latest salary slips latest salary certificate with Form 16 |
| Bank Statement | Last 3 months ( (updated passbook for last 6 months) |
How To Apply For HDFC Personal Loan
If you are looking for an easy way to get a personal loan, then HDFC is the right bank for you. Here are some simple steps on how to apply for a personal loan with HDFC:
- Go to the HDFC website and sign in.
- Click on “Loan products” at the top of the page.
- Under “Personal Loan”, click on “Apply now”.
- Fill in all the required information and click on “Submit”.
- You will be redirected to a page where you can review your application details. If everything looks good, click on “Submit”.
- You will be asked to confirm your application submission. Click on “Confirm”.
- You will receive a notification about your loan approval or rejection within 24 hours. If it’s approved, congrats! You’ve just got yourself a personal loan! If it’s rejected, don’t worry – there are always other options available to you.
Read Also – YES Bank Home Loan
FAQs On HDFC Personal Loan
Q. What is the interest rate for personal loans offered by HDFC?
Ans. The interest rates on personal loans offered by HDFC vary depending on the credit score and tenure of the loan. The loan rates start from 11% p.a.
Q. What is the maximum amount you can borrow with an HDFC personal loan?
Ans. The maximum amount you can borrow with an HDFC personal loan is Rs. 40 lakhs.
Q. What are the conditions for repayment of the HDFC Personal Loan?
Ans. The conditions for repayment of the personal loan include making monthly payments on time, and notifying the bank in advance if you will be leaving the country for more than six months.
Q. How do I pay back my loan?
Ans. You can pay back your loan through various means such as salary deduction, EMI or by making a lump sum payment.
Conclusion
If you are looking for a quick and easy solution to get the money you need, then a personal loan from HDFC could be the right solution for you. With Quick Loan Service, can get you the money you need within just a few short hours, so there is no waiting around! Plus, rates are very competitive compared to other lenders, so don’t hesitate – to get started now and find out for yourself why millions of people throughout India trust HDFC with their finances.
