HDFC Bank Personal Loan: Features, Process, and FAQ
For loans up to Rs. 40 lakh and terms of up to 6 years, HDFC Personal Loan is offered starting at 10.50% p.a. Existing borrowers of personal loans from other banks and NBFCs may also be eligible for an HDFC Bank Personal Loan, which will allow them to refinance their debt at a lower interest rate with HDFC Bank.
With a minimum monthly income criterion of ₹ 75,000 and loan requirements ranging from ₹ 10 lakh to ₹ 40 lakh, HDFC Bank offers Golden Edge Personal Loan, a special personal loan programme. A few of the bank's current customers are also eligible for pre-approved personal loans, which are dispersed instantly in less than 10 seconds.
Features of HDFC Bank Personal Loan
- Competitive Interest Rates: Customers of HDFC Bank are eligible for personal loans at competitive interest rates. The current HDFC Bank Personal Loan interest rate ranges from 10.75% to 24%, depending on the applicant's earnings, debts, and other variables.
- Process of Online Application: HDFC Bank has streamlined the online application process for personal loans. You can now apply for a personal loan on the HDFC Bank website with just one click.
- Customizable Personal Loans: HDFC Bank offers personalized loans with flexible terms. Existing clients get special rates and offers, while new customers can enjoy other benefits.
- 24/7 Customer Service: HDFC Bank provides round-the-clock assistance via SMS, Webchat, Click2Talk, or Phone Banking.
- Increase Your Security With Insurance: Customers can get critical illness and personal accident insurance for a low premium, which is deducted from the loan amount.
Frequently Asked Questions (FAQ)
How long does it take to have the HDFC Personal Loan approved?
Ans: Typically, the approval process takes 3 days for immediate loan applications or up to 15 days for other loan types.
Is there a maximum age for HDFC Bank personal loan applications?
Ans: Yes. If you're a salaried applicant, you must be between 21 and 60 years old. Self-employed individuals aged 60-65 can also apply.
Do I have to pay any extra fees when I repay my HDFC Personal Loan?
Ans: Additional fees may apply in certain circumstances, such as a bounced cheque, prepayment, or foreclosure. Review these fees before applying for the loan to plan your finances accordingly.
