The search for an instant personal loan begins when you have money issues. The issue could be anything. Maybe you have a medical emergency; maybe you need to pay some other loans. Well, when you are looking for a personal loan, going to the best bank in India seems a viable option. This is why today we will tell you about HDFC Personal loan.
It has one of the best-rated personal loan products in India. When you read everything on it, you will know the reason. We will begin with necessary details, then move on to eligibility criteria, what documents you will need to submit, and then how to apply? Now, let’s get started; please keep reading.
Basic Details about HDFC Personal loan
There are no hidden charges in HDFC personal loan. The processing fees are low, are the repayment option is convenient and flexible.
The entire process from applying for the loan and getting is transparent, quick, and hassle-free.
Since a personal loan is an unsecured loan, there is a need to submit a Collateral.
Loan amount, Rate of Interest and Loan tenure
An applicant can get a loan from Rs 50,000 to Rs 25 Lakhs.
The rate of interest ranges from 10.75% to 21.45% per annum. ( One of the lowest rate of interest in the market)
The processing fee is up to 2.5% of the loan amount without including GST.
The minimum pre-payment charge is 2% of the outstanding amount.
The Cheque Swapping fee is Rs 500.
The Schedule fee is Rs 200.
The Cheque Bounce fee is Rs 550 for every occurrence.
The lowest EMI is 2,187 Per Lac.
HDFC Personal loan Eligibility Criteria
Every lender sets a parameter for a personal loan. It is the same with HDFC. Here are HDFC personal loan eligibility criteria.
The applicant should be working in a public or private company. It could a Central/Government organization, State PSUs, or top corporate offices such as TCS or Infosys.
The applicant minimum age should be 21 Years and a maximum of 60 Years.
The applicant minimum salary should be Rs 15,000 per month.
The applicant should have a total of 2 Years of work experience with 1 year with the current organization.
Documents required for HDFC personal loan?
These are the list of documents you will need to submit when you will apply for an HDFC personal loan. If you keep the documents ready in advance, the procedure becomes easy.
2 Passport size Photograph
Identity Proof ( Copy of Passport, driving license, Aadhar Card, Voter ID card