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How HDFC Bank Personal Loan offers low-interest-rate?

 

 

HDFC Bank offers an opportunity that makes your every dream come true, it also helps you deal with an emergency without any financial issues. HDFC Bank offers a personal loan that can be availed for the amount of Rs. 50,000 and up to Rs. 40 lakh. The HDFC Bank Personal Loan interest rate is starting from at least 10.50% p.a. for the tenure period varying from 12 months up to 60 months.

Details of HDFC Bank Personal Loan

Particulars Salaried/Self Employed applicants
Interest Rate Starting from 10.75% p.a. up to 21.50% p.a.
Processing Fee 2.50% of the loan amount (Min Rs.2,999 & Max. Rs. 25,000)
Loan Tenure 1 year to 5 years
Loan Amount Rs. 50,000 to Rs.40 lakh
Salary/Income 15,000 onwards (Rs. 20,000 in Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Cochin)
Credit Score Above 750
Lowest EMI per lakh Rs.2,187
Pre-Payment/Foreclosure Charges ♦        Allowed after 12 EMI’s

♦        13 to 24 months: 4% of the outstanding principal balance

♦        25-36 months: 3% of outstanding principle

♦        Above 36 months: 2% of outstanding principle

Overdue EMI Interest 2% per month on EMI

 

HDFC Bank Personal Loan interest rates

The interest rate of HDFC Bank personal loans is starting from 10.50% p.a. The specific interest rate depends upon the applicant’s credit score, bank’s internal criteria, etc. Thus, the bank currently offers personal loans to salaried individuals across government institutions and corporates. Here are some key factors that influence the interest rates of HDFC Bank.

Features of HDFC Bank Personal Loan Scheme

The interest rate of different types of HDFC Bank Personal loan

At present, the bank doesn’t categorize its loan offers based on either end-use or applicant type. Thus, in all cases HDFC Bank Personal loan interest rate starts at 10.75% p.a.

Factors affecting HDFC Bank Personal Loan

Other fees and charges of HDFC Bank Personal Loan

Conclusion:

Hope, the above-mentioned information of HDFC Bank helps you to select the loan amount, interest rate, tenure period, and more. Apart from this, you can check the details of processing fees and charges of the bank and avail of the loan. You can also check the credit score before applying for a loan. HDFC Bank offers the best personal loans scheme to their customers.  For more details contact the customer care executive or visit the official website of HDFC Bank.

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