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Being a subsidiary company of HDFC Bank, HDB Financial Services is a renowned financial services company, known for offering end-to-end financial services to the people of all ages. This company with its best of services fulfills the very needs of all. Whether you want the loan for your child’s education, sudden friend’s marriage or to buy one expensive home appliance, you can easily avail the personal loan from HDB Financial Services, and convert all your dreams into reality. HDB Financial Services with its unmatched and flexible personal loans fulfills the personal financial needs of all.
So, if you are in urgent need of funds to accomplish your personal needs, take a personal loan from this financial firm. Thus, for your reference, here is the personal loan credential of HDB Financial Services.
HDB Financial Services Interest Rates December 2023
If you want to avail a personal loan from HDB, this financial institution with its attractive interest rates is here to make your journey all the more exciting and smooth. You can avail HDB personal loan at low-interest rate per annum as per bank’s norms.
|Loan Amount||INR 20 Lakh|
|Repayment||12 months-60 months|
|Processing Fee||3% of the loan amount|
HDB Financial Services Personal Loan EMI Calculator
In order to calculate your personal loan EMI, you need to know your loan amount, tenure and interest rate. You just need to place these fields in the calculator, and the rest will calculator do for you. It gives you the exact figure and data as what will be your EMI that you need to pay every month. With the help of this calculator, it is easy and hassle-free to know the amount within few minutes.
Suppose you avail a loan of INR 2,00,000 from HDB Financial Services for 5 years and get the interest rate of 18% per annum than your EMI will be as follows.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
|Loan Amount||Interest Rate||Tenure||Monthly Instalment||Total Interest Amount||Total Amount|
|₹ 2,00,000||18%||1||₹ 18,336||₹ 20,032||₹ 2,20,032|
|₹ 2,00,000||18%||2||₹ 9985||₹ 39,636||₹ 2,39,636|
|₹ 2,00,000||18%||3||₹ 7230||₹ 60,297||₹ 2,60,297|
|₹ 2,00,000||18%||4||₹ 5875||₹ 82,000||₹ 2,82,000|
|₹ 2,00,000||18%||5||₹ 5079||₹ 1,04,721||₹ 3,04,721|
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
|1||₹ 27,108||₹ 33,836||₹ 1,72,891|
|2||₹ 32,411||₹ 28,533||₹ 1,40,479|
|3||₹ 38,751||₹ 22,192||₹ 1,01,728|
|4||₹ 46,332||₹ 14,612||₹ 55,395|
|5||₹ 55,470||₹ 5548||₹ 0|
EMI calculation Formula[P x R x (1+R) ^n] / [(1+R)^ n-1]
P=Principal Loan Amount
r=Monthly Interest Rate
n=Monthly Loan Tenure
Moreover, to avoid the complexity of using the above formula, EMI Calculator came into existence. This smart device with its fastest algorithm eases the burden of calculating the EMIs in just a few seconds.
HDB Financial Services Loan Eligibility
To avail the personal loan in HDB Financial Services, you need to fit into the below eligibility criteria.
|Salaried||Self-Employed Professionals||Self-Employed Individuals|
|Minimum age of applicant: 21 years||Minimum age of Applicant: 22 years||Minimum age of applicant: 22 years|
|Maximum age of applicant at loan maturity: 60 years||Maximum age of applicant at loan maturity: 65 years||Maximum age of applicant at loan maturity: 65 years|
|Minimum employment: Minimum 1 year in employment with minimum 1 month salary credit in the current organization||Years in business: Minimum 3 years||Years in business: Minimum 4 years with minimum 2 years in the same business|
|Minimum net monthly income: ₹20,000 for metro locations (Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai & Pune) & ₹15,000 for all other locations||Minimum annual income: ₹100000/- p.a. for metro locations & ₹75,000/- p.a. for non-metro locations||Minimum annual income: ₹100000/- p.a. for metro locations & ₹75,000/- p.a. for non-metro locations|
Next thing on which you need to pay attention is the documentation required to get the personal loan in this bank.
|Salaried||Self-Employed Professionals||Self-Employed Individuals|
|Proof of identity: Passport / voters id / driving license/PAN card/aadhar card/ photo ration card||Proof of identity: Passport / voters id / driving license/PAN card/aadhar card/ photo ration card||Proof of identity: Passport / voters id / driving license/PAN card/aadhar card/ photo ration card|
|Address proof: Ration card /diving license/ voter id/ utility bill (anyone within last 3 months) / registered rental agreement / passport||Address proof: Ration card /diving license/ voter id/ utility bill (anyone within last 3 months) / registered rental agreement / passport||Address proof: Ration card /diving license/ voter id/ utility bill (anyone within last 3 months) / registered rental agreement / passport|
|Date of birth proof : Driving license / PAN card / passport / birth certificate / 10th / 12th mark sheet bearing date of birth||Date of birth proof : Driving license / PAN card / passport / birth certificate / 10th / 12th mark sheet bearing date of birth||Date of birth proof : Driving license / PAN card / passport / birth certificate / 10th / 12th mark sheet bearing date of birth|
|Bank statements : Latest 3 months bank statements / 6 months bank passbook||Bank statements : Latest 3 months bank statements / 6 months bank passbook||Bank statements : Latest 3 months bank statements / 6 months bank passbook|
|Latest 3 months Ssalary slip along with latest Form 16 / ITR / appointment letter||Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA||Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA|
Proof of continuation:Trade license /establishment /sales tax certificate
Other mandatory documents (sole prop. decl. or cert. copy of partnership deed, cert. copy of MOA, AOA & board resolution)
How to Check HDB Loan Application Status
If you want to know the application status of your personal loan in HDB, it is absolutely easy to know the same. You just need to login the site with your user id and password and by doing so, you can easily track or know the current status of your personal loan application.
HDB Personal Loan Statement Online
Now you can easily get all your personal loan statements of HDB Financial Service in your Inbox. With the help of receiving these monthly statements, you can get to know about your monthly transaction history very quickly. It gives you a brief analysis of your personal loan journey with the lender so far.
HDB Personal Loan Customer Care
In case you want to get in touch with HDB, you can easily do so by getting in touch with their customer care executives. In order to do so, all you need to do is just visit the site and click on customer support. The moment you click on it, you will be redirected to a page, showing one form on the screen that you need to fill so as to register your complaints, queries, suggestion or feedback.
HDB Personal Loan Login
Now you don’t have to visit the branch and stand in the long queue to know the details of your bank account. Well, today with the online facility, you can do anything from the comfort of your home or office. You just need to visit the site and with the help of your login id and password, you can easily login to your account. Once you logged in, you can check your account very closely and can know the in and out. So, use this online login facility for a smooth personal loan journey in HDB Financial Services.
HDB Loan Application Status
Knowing your HDB personal loan status is not a hassle anymore as you can easily know the same online. After visiting the site, you just simply need to click on Track My Application to know the real-time update of your loan. You just need to have your loan application number and with the help of the same, you can know the actual status of your personal loan within few seconds.
Features and Benefits
- Best in class interest rates: You have the lowest interest rate on your borrowed amount based on your repayment capacity and credit score. A score of 750 and above can help you get the HDB personal loan quickly at the best rates possible.
- Simple documentation: The financial institution doesn’t need additional documents apart from your ID and income proof such as PAN card, ITR report or bank statements.
- Quick processing & Disbursal: The loan amount is approved instantly and disbursed quickly to your bank account once you are found to have met the eligibility criteria. No more waiting to get your funds as the HDB financial service provides you the loan instantly.
- Enjoy the convenience of doorstep service: A representative will come to your doorstep if you have any problem understanding the terms and conditions.
- No requirement of collateral/guarantor: The loan is unsecured and you don’t have to provide any type of collateral to get the loan amount.
- Easy monthly repayment: You can pay the borrowed amount in monthly installments and choose the tenure ranging upto 60 months as per your income and repayment capacity.