HDFC Bank Personal Loan

The HDFC bank offers personal loans to people helping them meet their personal expenses and dispense them at leisure. The eligibility to get the HDFC personal loans is pretty simple. Personal loans interest rates in HDFC bank can change from time to time, but is the best possible rate in India. You can check HDFC bank personal loan eligibility and HDFC bank EMI calculator at loanbaba.com.

The following key points will help you understand the features and benefits of the personal loans:

Persona Loan in HDFC Bank: Amount

The limit of the loan amount starts from Rs 50,000 and can range up to Rs 15 lakhs. The actual amount that can be disbursed shall depend on criteria such as age, credit history, other loans taken, etc.

Tenure for HDFC Bank Personal Loan

The tenure of the loan ranges from 12 to 60 months. However, in case of the self-employed people, the loan tenure ranges from 12 – 36 months.

Personal Loan HDFC Bank Documents

One has to submit documents such as the salary certificate with Form 16 or the latest pay slip.

  • The bank statement of past 3 – 6 months is important.
  • Documents showing your identity proof or the address proof is necessary.
Processing fee

A processing fee up to 2.5 % is applicant on the loan amount. However, the minimum amount of fee applicable is Rs 1000 and the maximum being Rs 25,000 (salaried people).

Foreclosure criteria

In case of the salaried people, the borrowers cannot repay their loan before 12 EMI payments. However, after this period, the loan can be repaid with the penalties applicable as follows:

  • In case of closing the account within 13 – 14 months, the prepayment charges of 4% shall apply on the outstanding value.
  • In case of closing the account within 25 – 36 months, the prepayment charges of 3% shall be applicable on the outstanding value.
  • In case of closing the account after 36 months, the prepayment charges of 2% shall be applicable on the outstanding value.
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