HDFC Bank Personal Loan – Apply Online 2022
In these tough times of COVID 19, HDFC Bank – one of India’s leading private sector banks has resumed its operations and has started lending personal loans to near about 27000 companies. Pre COVID 19 HDFC used to lend to nearly about 48000 companies. With the stabilization in the situation with COVID, HDFC Bank is getting back to its momentum and lending personal loans while complying with the legal implications.
HDFC Bank is well known for its lowest interest rates and reach to the customer. And, if you are worried about the EMIs then HDFC is here to offer pocket-friendly EMIs and all this and much more can easily be possible with HDFC Personal Loan. Yes, the attractive interest rates allow you to save more, making your personal loan journey a hassle-free experience. To know more about HDFC Personal Loan online, read the page below.
HDFC Personal Loan Eligibility Criteria for July 2022
HDFC offers personal loans based on eligibility criteria. If you are between a range of 21 years to 65 years of age, then you can easily avail HDFC Personal Loan. You should have a minimum monthly income of INR 25,000 to avail personal loan and that should be credited into a bank account only to be more cautious this income should be after every deduction.
Also, you need to check whether you have adequate work experience or not – you must have 2 years of working experience, including a year of experience with the current employer.
For instance, If you are working in Cat A company and drawing a salary of INR 35,000 net in hand and of 30 years of age and looking for a personal loan for 3 years then as per Bank’s Multipliers calculation below:
- Salary: INR 35,000
- Tenure: 36 Months (3 years)
- Eligible Loan Amount: 35000*15 = INR 5,25,000 Lakhs
- In this case, you are eligible up to get a loan of INR 5,25,000 Lakhs.
In another scenario wherein you have some existing EMI going on of another personal loan of INR 6,100 then the calculation would be something like the below:
- Income to be considered for loan amount – (Net income – obligations(EMI))
- INR 35000 – INR 6,100 = INR 28,900
- Now INR 28,900 will be considered as your net salary for Loan amount eligibility calculation. Now the calculation would be like this:
- Eligible Loan Amount: 28900*15 = INR 4,33.500
- In this case, you would be eligible for INR 4,33,500 Lakhs of the loan amount.
- Hence, every customer can get maximum benefits with an HDFC Personal Loan account basis on his profile.
- Prepayment will be allowed subject to the successful payment of the first 12 EMIs
- Prepayment will be allowed maximum twice during the entire tenure of the loan
- Prepayment is allowed only once a year
- At any point of time, the prepayment will not exceed 25% of Principal Outstanding Charges to be paid on Prepayment
- 13-24 Months – 4% of the outstanding loan balance
- 25-36 Months – 3% of the outstanding loan balance
- More than 36 Months – 2% of the outstanding loan balance
Point to be Noted
- The GST will be applicable over the processing fee amount.
- The offer won’t be available for top-up/enhancement/exiting loan closure.
- Pricing of loans amounting to INR 10 Lakh and above are under Golden Edge Program.
HDFC Doctors Loan
- Loans above INR 10 lakh come with a special 10.25% interest rate
- Flat processing fee of INR 4,999
- Unsecured Loan up to INR 7.5 Lakh
- Group Exposure Can Go up to INR 1 Crore
- Tenure ranges from 12 Months to 60 Months
- Surrogate Programs like Banking, Gross Receipts and Takeover
- Competitive Pricing
- Minimal Documentation
- Speedy Approval
- Higher Multiplier
HDFC Personal Loan Top Up
Personal Loan for Wedding
Personal Loan for Home Renovation
HDFC Personal Loan Eligibility Calculator
HDFC Personal Loan Calculator
- Loan Amount
- Interest Rate
How is HDFC Personal Loan different?
- Minimal Documentation: Keeping in mind the convenience of the customers, HDFC Bank personal loans require minimal documentation.
- Attractive Rate of Interest: With the starting interest rate of 10.99% per annum, its personal loan interest rates are one of the lowest in the market.
- Special Offers for Women Applicants: For a personal loan to women applicants, HDFC Bank offers a specialized scheme- Personal Loan Diva Scheme. Under this scheme, a woman applicant gets the facility of pre-approved personal loans amounting INR 3 lakh along with various premium brands and products.
- Free Insurance Cover: Personal loans of HDFC Bank come with an add-on benefit of a personal accident cover of up to INR 8 lakh along with a critical illness cover of INR 1 lakh without any extra charges.