Housing Development Finance Corporation or HDFC bank as it is commonly known as one of the largest banks of India with a nationwide network of 1725 branches in 780 towns and cities. HDFC Bank personal loan provides loans for personal uses whatever the occasion might be. HDFC Bank personal loan offers numerous ranges of loans. HDFC Bank personal loan review states that loan up to Rs. 15 lakhs can be borrowed for any purpose depending on the requirements.  We here at money super bazaar provide you detailed information of HDFC Bank personal loan, offers, HDFC Bank personal loan rate of interest, HDFC Bank personal loan eligibility, procedure to apply for the loan, amount of loan disbursement, repayment schedule, pre closure option etc.

What Are The HDFC Bank Personal Loan Key Features And Benefits?

Besides taking loan up to Rs. 15 lakhs, according to HDFC Bank personal loan review there are a host of benefits like easy EMI’s, low HDFC Bank personal loan interest rate,  minimal documentation  and a variety of other benefits. 

What Is The HDFC Bank Personal Loan Interest Rate?

HDFC Bank personal loan interest rate is one of the lowest among all the banks. The rack interest rate range for HDFC Bank personal loan rate of interest for salaried individuals is ranged 15.50% to 22%. The HDFC Bank personal loan rate of interest for self employed businessmen and self employed professional is 17.50% to 22% and 14.50% to 15% respectively. Besides this, HDFC Bank personal loan review says that an additional 2.5% of the loan amount subject to a minimum of Rs. 1000 is charged as loan processing charges.

What Are The HDFC Bank Personal Loan Eligibility Norms?

The HDFC Bank personal loan eligibility for salaried professionals depends on a plethora of factors. The minimum age of the applicant must be 21 years and maximum 60. The employee should be working in the organization for at least 1 year prior to taking the loan. His net monthly income should exceed 10,000 Rs.

HDFC Bank personal loan eligibility for self employed professionals/others is that he should not be below the age of 25 and above 65 years of age. He should be employed in business for at least 4 years prior to taking the loan and his annual income should exceed Rs. 1 lakh.

The documents required as part of the HDFC Bank personal loan eligibility for salaried professionals- This include id proof like passport, voter id etc. In addition, address proof along with the Bank statement for the last 3 months and the latest salary slip is required to file an application for loan.

The documents required as part of the HDFC Bank personal loan eligibility for self employed individuals- This too include id proof, address proof along with bank statement, ITR returns and qualification proof of the highest professional degree.

Loan Tenure And Repayment:

The HDFC Bank personal loan review upholds that the maximum duration of the HDFC Bank personal loan is 5 years. Loan repayment is to be made in equated monthly instalments (EMI).

Penalty For Default In Repayment :

Any default of an EMI on HDFC Bank personal loan amount would attract subsequent penalty @24% p.a. on amount outstanding from date of default.  

Pre-Closure Process And Consequences : 

The prepayment charges of the HDFC Bank personal loan for salaried professionals is 4% of the principal outstanding amount after the repayment of 12 EMI’s and for self employed individuals 4% of the principal outstanding amount after the repayment of 6 EMI’s. These rates are not based on the HDFC Bank personal loan interest rate. Also service tax @10% and education cess @3% will be charged irrespective of HDFC Bank personal loan rate.

Product Page Url Of The Official Site And Contact Details Of The Bank : 

For more information log on to the website www.hdfcbank.com and the information on loand can be procured at http://www.hdfcbank.com/personal/loans/personal_loans/personal_loans.htm Contact Details Of The Banks In Some Major Cities Are: