Apply Online for HDB Financial Personal Loan

Eligibility Criteria for HDB Financial Personal Loan

Here are the HDB Financial Personal Loan eligibility:

Age requirements:

Applicants must be at least 21 years old and cannot be older than 60.

Residence:

The candidate must reside in India.

Employment:

The candidate should be a professional who works for themselves or is paid a salary.

Income:

Applicants must have a consistent monthly income source. An HDB Personal Loan requires a monthly income of at least ₹ 25,000.

Employment:

The applicant should be a full-time worker with at least two years of experience.

Credit Score:

For a better possibility of getting a loan approved, the applicant should have a decent credit score. Those having a CIBIL Score of 700 or higher.

Fees and Charges of HDB Financial Personal Loan

Personal loans up to ₹ 20 lakhs are available through HDB Personal Loan interest rates starting at 12% p.a. and up to a 5-year repayment period. To help professionals who are salaried or self-employed with their financial demands, it offers personal loans. By accessing the creditworthiness of its customers through their social profiles, it also provides New to Credit loans to borrowers with little or no credit history. Borrowers who meet the requirements can apply for a personal loan online from HDBFS by submitting a soft copy of their required documentation.

Feature and Benefits of HDB Financial Personal Loan

In order to satisfy our financial demands, HDB Financial Services offers a personal loan. HDB personal loans can be used for a variety of purposes, including home improvements, urgent household costs, marriage in the family, and medical situations.

Loan amount:

Customers can borrow up to ₹ 20 lakhs from HDB Financial Services at competitive interest rates, which is highly advantageous for their financial needs. A single platform is used by HDB to offer loan amounts under several schemes.

Tenure of Repayment:

All clients benefit greatly from the flexible 5-year repayment term offered for personal loans, which is provided to you.

Interest:

HDB Financial Services offers personal loans to its clients at interest rates that can reach 35% annually. The interest rate is set by HDBFS depending on the individual customer's profile, income distribution, credit score, and other factors.

Frequently Asked Questions (FAQ)

1. What are the possible options for repayment?

Ans. Equated Monthly Installments (EMIs) should be used to pay back your HDB personal loans. The EMI can be automatically debited from your account each month before the due date by selecting an Automated Clearing House. Using the HDB mobile app or by entering into your net banking account, you may easily make loan repayments.

2. Do you have any prepayment options?

Ans. Yes, you can prepay a portion of the loan or close your loan account. Only after paying off the loan with at least 6 EMIs are you able to do this. For the same, fees of up to 4% will be charged in addition to any relevant GST.

3. Can the loan be terminated if the cash that has been disbursed has not been used?

Ans. Yes. Within seven days of the loan's disbursement, you can choose to cancel it. You may get in touch with the nearby branch or send an email to customer.support@hdbfs.com. Personal loans are subject to a cancellation cost of ₹ 1,000.

Low Processing cost:

You only pay a small processing cost on the loan amount you receive. Processing fees will range from 0% to 3% plus GST of the approved loan amount.