We all have been taught about spending money wisely. Focussing on keeping aside a specified amount, for times we will be faced with “the blue”. However, the lifestyle changes, have enforced one to spend, turning it into an inevitable one. In the past couple of years, the scaling up of expenses, have made people bound to spend beyond their capacity to fulfil the demands of the situations.
Are you also the one, faced with such kind of a situation?
Does the ever-increasing demand of specific financial need, is the cause of your anxiety?
Why Personal Loan?
To meet your short and specific financial needs, which calls for immediate attention, Personal loan is the optimum solution. This blog will provide you with in depth analysis, how you can put your concerns to rest, by availing HDFC Bank Personal loan.
HDFC is one of the leading providers of Personal loan in India. With wide extent of features and benefits, HDFC offers the best option of loan. With EMIs starting at Rs. 2187 per lac*, you can enjoy a stress free and affordable repayment process! There is more in store for you, if you are looking for more features and benefits.
You can leverage the opportunity of competitive interest rates form the market, features like flexible tenures, pocket friendly repayments and quick disbursals. If you are a pre-approved HDFC customer, it will be an added advantage. With no additional document submission, the loan gets approved instantly. For individuals other than HDFC customers, can avail it in as short a time as 4hrs, with minimum document submission.
You can now apply for the Personal Loan, from the comfort of your home.
With just click, you can fill the application form and apply it.
Personal Loan from HDFC Bank
- EMI Starting at Rs.2187/lac
- Loan upto Rs 40lac
- Loan disbursal in 4hrs
- Minimal documentation
Eligibility Criteria for availing the loan
You are eligible to apply for a Personal Loan if you fall under the following criteria
|Profession||Working in private limited companies, or public sector undertakings (including central, state, and local bodies)|
|Eligible Age||21 to 60 Years|
|Required Work Experience||At least 2 years, of which 1 year must be with current employer|
|Minimum Monthly Income for Eligibility||Rs. 15,000 (Rs.20K in Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Cochin)|
Documents required for personal loan:
- Identity proof (copy of passport/voter ID card/driving license/Aadhaar)
- Latest salary slip/current dated salary certificate with the latest Form 16.
- Address proof (copy of passport/voter ID card/driving license/Aadhaar).
- Bank statement of previous 3 months (Passbook of previous 6 months)
Factors Affecting Personal Loan Eligibility
The factors that affect Personal loan eligibility are:
- Monthly Income
- Monthly Expenses
- Any Other Loan
- Credit History
- Job Stability
- Relationship with the Bank
- Category of Your Employer
For a clear understanding, below is a table showing the calculations of ₹4 Lakh loan amount, taken for a tenure of 5 years at an interest rate of 12% per annum.
|LOAN AMOUNT||INTEREST RATE||TENURE||MONTHLY INSTALLMENT|
|₹ 4,00,000||12%||1||₹ 35,540|
|₹ 4,00,000||12%||3||₹ 13,286|
|₹ 4,00,000||12%||4||₹ 10,534|
|₹ 4,00,000||12%||5||₹ 8,898|
The data mentioned above will help you in deciding the amount and tenure to apply for, while availing the loan amount.
You can leverage the technology to the fullest. In just few clicks, you can apply for your loan application, from the comfort of your home.
Online Application Form
- The application form is available online. The following fields are to be compulsorily filled:
- Loan details
- Personal details of applicant and co-applicant
- Employment details of applicant and co-applicant
- Existing loan details
- Bank details
- Reference details
Get customized product as per your need
Your reasons of availing Personal Loan can be any, HDFC Bank will tailor it to suit every need and demand, as per your requirements. HDFC account holders enjoy special privilege in terms of rates, charges and offers. First time loan customers, also enjoy hosts of benefits and offers. Ensuring the flexibility to choose the tenure and pocket friendly EMIs.
For any assistance, you can reach out to them through SMS, Webchat, Click2Talk and phone banking.
Misfortune often arrives, un-warned. As one can’t stop them, it’s wise to be prepared for them. Protect yourself with insurance.
- Personal Accident Cover: For a nominal premium* you can avail of Personal Accident cover of up to Rs. 8 lakhs, and Critical Illness cover of up to Rs. 1 lakh. The premium for these policies will be deducted from the loan amount during disbursal. Applicable taxes and surcharge/cess will be charged extra.
- Personal Loan Security: Secure your personal loan with Sarv Suraksha Pro. Key benefits include:
- Credit Shield Cover equal to the outstanding loan amount
- Accidental Death/Permanent Disablement cover of up to Rs. 1 lakh*
- Accidental Hospitalisation cover of up to Rs. 8 lakhs*
To serve you the best experience on Personal loans, HDFC has designed to address the diverse financial needs in an easy and convenient manner, making it one of the best Personal Loans.