HDFC Personal Loan Interest Rates

Interest Rates 2017 1218 views

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HDFC Personal Loan Interest Rates at a Glance

ParticularsDetails
Interest Rate10.99% - 16.75%
Loan AmountUpto ₹15 Lakh
TenureUp to 5 Years
Processing FeesUp to 2.50% of the loan amount or Minimum of ₹ 1,000/- & Maximum of ₹ 25,000/- for Salaried Customers
Prepayment ChargesNil- 4% of principal outstanding + GST
Repayment ModeECS, AD or PDC
No Due Certificate/No Objection Certificate (NOC)NIL
Duplicate of No Dues Certificate/NOCNIL
Solvency CertificateNot applicable
Charges for late payment of EMI24% per annum on amount outstanding from date of default
floating rate Not applicable
Charges for changing from floating to fixed rate of interestNot applicable
Stamp duty & other statutory chargesAs per applicable laws of the state
Credit assessment charges Not applicable
Non standard repayment charges Not applicable
Cheque swapping charges₹500/-
Amortization Schedule charges₹200
Loan cancellation chargesNIL (However client would be charged interest for the interim period between date of loan disbursement and loan cancellation and processing fees would be retained.)
Cheque bounce charges₹550/- per cheque bounce
Legal/incidental chargesAt actual
CIBIL Report Copy Charges₹50 per copy

HDFC Personal Loan Balance Transfer Interest Rate

Get ready to enjoy lower EMIs and save more on your interest payments by transferring your existing personal loan to HDFC Bank. Yes, if your existing lender is giving you the personal loan at higher rates, going for HDFC BT is surely a smart move. If you opt for the BT with HDFC, you can get the interest rates as low as 11.29% to 11.70% per annum on your existing loan. There is one-time processing fee of ₹1,499 that you need to give away to the bank so as to process your balance transfer request further. Moreover, you can either visit the branch or simply apply online to transfer your outstanding loan balance to HDFC.

Factors Affecting HDFC Personal Loan

There are some important factors on the basis of which a person can get a personal loan. These factors may vary from bank to bank depending upon the bank policy. The important factors on the basis of which HDFC personal loan are as follows:

  • Age: To get a personal loan from HDFC bank, an individual should be minimum 21 years age and the maximum age of 60 years.
  • Monthly Income: The minimum Net Monthly Income of the applicant to apply for a personal loan at HDFC bank is ₹15,000/-. However, in selected areas like Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Pune, Calcutta, Ahmedabad, Cochin, the minimum Net Monthly Income is ₹20,000/-. With this minimum income criteria, the possibility of getting good rates and loan amount gets higher.
  • Monthly Expenses: The monthly expenses of the borrower decides the repayment capacity and hence is considered to be an essential factor when it comes to HDFC personal loan. If the loan seeker has less financial responsibilities, there are chances that he/she can get better rates and higher loan amount hassle-free.
  • Any Other Loan: When it comes to a personal loan, the borrower doesn’t have to give any kind of security to the bank. If there is no present loan, the payment of EMI is easier and smoother.
  • Credit History: Having a healthy credit score would be an add-on in getting a personal loan from HDFC Bank as the reliability on the borrower increases.
  • Job Stability: To have a personal loan from HDFC bank, a salaried must be having 2 years of total working experience with 1 year of working experience in the present organization.
  • Category of Employer: The interest rates offered to an individual is calculated on the basis of the income profile of the applicant and where he/she is working. If the person is working in a reputed organization, he/she is most likely to get a personal loan from HDFC at lower rates and higher loan amount.

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