26 Mar 2019 | 3 min read
A personal loan can be your best friend when you are in distress or in urgent need of money for any other reasons. Different Personal loan products have been designed keeping in mind the distinct needs of the salaried /self-employed class or people with a continuous source of income.
HDFC personal loan interest rate is different for different customers, depending on their income, credit profile, bargaining power etc. The interest rate of HDFC personal loan is currently in the range of 15.50% TO 21.50% for the salaried and self-employed class. However, this is subject to periodic changes.
You can apply for HDFC personal loan for any amount from Rs 50000 to Rs 15 lakhs, depending upon your requirement. You may add the income of your spouse and can apply for a joint loan if you are in need of a bigger loan amount.
When you apply for HDFC personal loan, the bank will ask for a processing fee in the range of 1% to 2.5 % of the approved loan amount.
For the salaried class, no prepayment is allowed for an HDFC personal loan until the borrower repays at least 12 EMIs. Afterward, prepayment charges are levied depending on the loan tenure ( as shown below)-
Prepayment between 13 to 24 months- 4 % of the outstanding principal
Prepayment between 25 to 36 months- 3 % of the outstanding principal
Prepayment after 36 months- 2 % of the outstanding principal
HDFC personal loan provides easy & convenient options to repay your loan within a minimum period of 12 months to a maximum of 60 months.
When you apply for an HDFC personal loan, you are provided clear and up-to-date information about the HDFC personal loan status at every stage. HDFC personal loan provides quick loan disbursal and easy loan payment options such as ECS and PDCs. Also, the entire loan procedure is a completely transparent one. It has zero hidden charges.
HDFC offers attractive discounted schemes for women known as HDFC personal loan Diva scheme. This scheme offers pre-approved personal loans up to Rs 3 lakhs to women applicants, along with over 100 Diva offers across its premium products and brands.
Special Note: Personal loan interest rates in HDFC Bank and other fees & charges are subject to periodic change and regular review, and can vary from customer to customer depending upon a number of factors ranging from credit score, to existing loans, amount of savings, company with which you are currently employed, number of years of relationship with HDFC bank etc.
Check More Bank For Personal Loan
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