HDFC Bank Personal Loan
- Borrow up to Rs 15,00,000 for any purpose depending on the requirements.
- Flexible Repayment options, ranging from 12 to 60 months.
- Repay with easy EMIs.
- One of the lowest interest rates.
- Hassle free loans - No guarantor/security/collateral required.
- Speedy loan approval.
- Convenience of service at your doorstep.
Features
Eligibility
Salaried- Minimum age of Applicant: 21 years
- Maximum age of Applicant at loan maturity: 60 years
- Minimum employment: Minimum 2 years in employment and minimum 1 year in the current organization
- Minimum Net Monthly Income: Rs. 10,000 per month (Rs. 15,000 in Mumbai, Delhi, Bangalore, Chennai and Hyderabad & Rs. 12,000 in Calcutta, Ahmedabad and Cochin)
Self Employed (Professionals) include self - employed Doctors, Chartered Accountants, Architects, Company Secretaries.
- Minimum age of Applicant: 25 years
- Maximum age of Applicant at loan maturity: 65 years
- Years in business: 4 to 7 years depending on profession
- Minimum Annual Income: Rs. 100000 p.a.
Loan Amount
You can avail of a loan from Rs 50,000/- to Rs 15,00,000/- depending on your income and repayment capacity. You can club the income of your spouse if you wish to increase your loan amount.
Margin
Repayment Period
Documents Required
Salaried- Proof of Identity (Passport Copy/ Voters ID card/ Driving Licence)
- Address Proof (Ration card Tel/Elect. Bill/ Rental agr. / Passport copy/Trade licence /Est./Sales Tax certificate)
- Bank Statements (latest 3 months bank statement / 6 months bank passbook)
- Latest salary slip or current dated salary certificate with latest Form 16
Self Employed (Professionals) include self - employed Doctors, Chartered Accountants, Architects, Company Secretaries.
- Proof of Identity (Passport Copy/ Voters ID card/ Driving Licence).
- Address Proof (Ration card Tel/elect. Bill/ Rental agr. / Passport copy/Trade licence /Est./Sales Tax certificate).
- Bank Statements(latest 6 months bank statement /passbook)
- Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
- Qualification proof of the highest professional degree
To get best offers from a network of over 300 service providers, simply fill up the adjoining application form. Our automated engine will match your requirements with a comprehensive set of offers in the market and connect you to a maximum of 5 providers who can service your need. WHEN BANKS COMPETE YOU WIN. You will yourself be able to decide which bank gives the best personal loan based on any of the following parameters:
- Lowest Interest Rate
- Lowest EMI
- Maximum Loan Amount Offered
- Lowest Processing Fees
- Eligibility based on your credit report (from credit bureaus such as CIBIL)
- Other Parameters
4 step process to get the best personal Loan
1) Make sure your credit history is clear by getting a copy of your own credit report from CIBIL. You can get the report online by logging into www.cibil.com . If your credit history shows any errors get them corrected first before you apply for a personal loan as lenders are likely to reject the loan application if the credit report shows any defaults in the past.
2) Make lenders compete, compete and compete. That is the best way you will get the lowest EMI as well as processing fees.
3) If loan eligibility is not an issue find out if a lower interest rate or lower processing fee is available if you reduce the loan amount
4) Other things remaining the same you can choose the loan that has a lower pre-payment charge