HDFC Bank is a prominent private sector bank and financial services company in India. The bank offers a wide spectrum of banking products and services to its customers. You can get HDFC personal loans, business loans, home loans, education loans, etc. at affordable interest rates.
HDFC Bank personal loan balance transfer
HDFC Bank personal loans are one of the most affordable loans in the market with interest rates starting from as low as 10.50% p.a. You can get the loan for a wide range of personal financial needs.
Not only existing customers of HDFC Bank, but also an individual who has a personal loan from other bank or NBFC can also enjoy a host of benefits by transferring his personal loan to HDFC Bank. Lower interest rates, decreased EMIs and excellent customer services are some of the benefits that you can get through HDFC Bank personal loan balance transfer.
Process of transferring existing personal loan to HDFC Bank
A personal loan balance transfer process is simple, fast and completely online.
- You need to apply for a NOC (No Objection Certificate) and foreclosure letter from your existing lender.
- Start the loan application process with HDFC Bank. You can also apply for HDFC personal loan balance transfer through an online platform for faster process.
- Submit the required documents along with repayment history.
- Get a sanction letter and execute the agreement with the new lender.
HDFC personal loan balance transfer – interest rate and charges
- Interest rate: 11.49% p.a.
- Processing fees: Rs. 3,999
HDFC Personal Loan Balance Transfer Calculator
By using HDFC personal loan balance transfer calculator, you can easily find out the possible benefits resulting from balance transfer of your personal loan from the existing lender to HDFC Bank. Take the following steps to use a balance transfer calculator to find out the benefits.
- You can find HDFC personal loan calculator on the official website of the bank or click here.
- Enter details like existing personal loan amount, interest rate, tenure, EMIs paid for existing personal loan.
- Now select the preferred loan tenure for HDFC personal in the number of months. Then click ‘Calculate’.
- You will then clearly see a comparison between your current personal loan and an HDFC personal loan after your transfer outstanding balance to HDFC Bank. Accordingly, you can transfer your outstanding loan amount to HDFC Bank on the basis of benefits.
Benefits of HDFC personal loan balance transfer
By transferring your personal loan to HDFC Bank, you will get the following benefits:
- HDFC personal loan interest rates for balance transfer start from as low as 11.49% p.a.
- If you transfer your personal loan from the current lender to HDFC Bank at a lower interest, your EMIs will decrease.
- A flat processing fee for HDFC personal loan balance transfer is only Rs. 999.
- Balance transfer process is pretty simple – visit the official website of HDFC Bank, enter your basic personal details, income details and contact number.
- After that you will get a notification if your application for the balance transfer facility has been accepted or not.
- If your request is accepted, you can start repaying the loan through EMIs.
Ques. What is HDFC Bank personal loan balance transfer interest rate?
If you transfer your personal loan from the current lender to HDFC Bank, the interest rate applicable on your loan will start from 11.25% per annum.
Ques. How can I repay my HDFC personal loan?
You can repay HDFC bank personal loans either through post-dated cheques (PDCs) or through ECS or by issuing standing instructions.
Ques. Who can transfer a personal loan to HDFC Bank?
Individuals who have an existing loan with other banks or NBFCs can transfer their outstanding loan amount to HDFC Bank. They should have a proven track record of repayment and good credit score. Borrowers will need to get an NOC (No Objection Certificate) from the current lender.
Ques. How can I speak to HDFC Bank customer care to know more about a personal loan balance transfer?
You can get in touch with HDFC Bank customer care team on various touch points to speak about balance transfer as under: You can call on 022-61606161. You can directly contact the customer care team of HDFC Bank in your city. Or write an email to the bank at email@example.com. You can also write a letter to the bank at the following address: HDFC Bank Ltd. Empire Plaza I, 1st Floor, LBS Marg, Chandan Nagar, Vikhroli West, Mumbai - 400 083