HDFC Bank Ltd has decreased its personal loan interest rates by 0.20%, or 20 basis points with effect from Tuesday, July 07, 2020. This interest rate cut will reduce the cost of funds for those people who want to avail HDFC Bank personal loans.
New Delhi (Delhi, India), July 26, 2020
The HDFC Bank Limited has decreased its personal loan interest rates by 0.20 percent, or 20 basis points with effect from Tuesday, July 07, 2020.
HDFC Bank Ltd has revised its minimum personal loan interest rate from 10.95 percent to 10.75 percent per annum for HDFC Bank personal loan applicants.
HDFC Bank Limited’s current interest rate cut will reduce the cost of funds for those people who want to avail HDFC Bank personal loans.
HDFC Bank Personal Loan Interest Rate for Salaried Applicants: 10.75% to 21.30% Per Annum
HDFC Bank Personal Loan Interest Rate for Self-Employed Applicants: 10.75% to 21.30% Per Annum
HDFC Bank Personal Loans Rate of Interest is Floating or Fixed: Fixed Rate of Interest
HDFC Bank Personal Loan Processing Fee: 2.50% of the Personal Loan Amount (Minimum ₹2,999 Maximum ₹25,000 plus GST)
HDFC Bank Personal Loan Documentation Charges: ₹250 plus GST
HDFC Bank Personal Loan Amortization Schedule Charges: ₹200 plus GST
HDFC Bank Personal Loan Cheque Swapping Charges: ₹500 plus GST
HDFC Bank Personal Loan Minimum Borrowing Amount: Minimum Personal Loan Amount is ₹50,000
HDFC Bank Personal Loan Maximum Borrowing Amount: Maximum Personal Loan Amount is ₹40,00,000
Minimum Tenure for the HDFC Bank Personal Loans: Minimum Personal Loan Tenure is 12 Months
Maximum Tenure for the HDFC Bank Personal Loans: Maximum Personal Loan Tenure is 60 Months
Minimum Net Income Requirement for Availing HDFC Bank Personal Loans: Minimum Net Income Required is ₹25,000 Per Month for HDFC Bank Salary Account Holder and Minimum Net Income Required is ₹50,000 Per Month for Non-HDFC Bank Salary Account Holder
Minimum Age Limit for Getting the HDFC Bank Personal Loan Sanctioned: Minimum Age 21 Years at the Time of Personal Loan Commencement
Maximum Age Limit for Getting the HDFC Bank Personal Loan Sanctioned: Maximum Age 60 Years for Salaried Applicants and 65 Years for Self-Employed Applicants at the Time of Personal Loan Maturity
HDFC Bank Personal Loan Prepayment Penalty:
No prepayment allowed within 12 months from the date of disbursement of the Personal Loan
4% of the Principal Outstanding plus GST within 13 to 24 months from the date of first EMI of Personal Loan
3% of the Principal Outstanding plus GST within 25 to 36 months from the date of first EMI of Personal Loan
2% of the Principal Outstanding plus GST after 36 months from the date of first EMI of the Personal Loan
HDFC Bank Personal Loan Pre Closure Charges:
No foreclosure allowed within 12 months from the date of disbursement of the Personal Loan
4% of the Principal Outstanding plus GST within 13 to 24 months from the date of first EMI of Personal Loan
3% of the Principal Outstanding plus GST within 25 to 36 months from the date of first EMI of Personal Loan
2% of the Principal Outstanding plus GST after 36 months from the date of first EMI of the Personal Loan
Charges for HDFC Bank Personal Loan EMI Late Payment: Minimum 2% Per Month of the HDFC Bank Personal Loan EMI Outstanding Amount plus GST
HDFC Bank Personal Loan EMI Cheque, SI, or ECS Bounce Charges: ₹550 plus GST
Different Options for Making HDFC Bank Personal Loan EMI Payments: The four options for making Loan EMI payments are Internet Banking, Standing Instruction (SI), Electronic Clearing Service (ECS), or Post-Dated Cheques (PDCs)
Security, Collateral, or Guarantor Requirement for the HDFC Bank Personal Loan: No Security, Collateral, or Guarantor is Required
Documents Required for the HDFC Bank Personal Loan: (1) HDFC Bank Filled up Personal Loan Application Form, (2) Two Passport Size Photos, (3) Income Tax PAN Card Cop, (4) Identity Proof – Passport, Driving License, PAN Card, Voter ID Card (Any One), (5) Residential Address Proof, and (6) Income Documents