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CreditMantri Finserve Private Limited
CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002
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HDFC Bank offers personal loans at attractive interest rates, flexible repayment tenures, and minimum processing charges. HDFC Bank personal loan interest rates will vary with the loan amount, loan tenure, and some other factors as well.
Get loans starting from 11.25% interest rate
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About HDFC Bank Personal Loan Interest Rate
Following is an overview of HDFC Bank Personal Loan Rate of Interest and associated fees and charges.
| Fee | Amount to be Paid |
|---|---|
| Interest Rate | Salaried - 11.25% to 25.26% |
| Loan processing charges | 2.50% of the principle loan amount and subject to a minimum of Rs.1000 and maximum of Rs.25000 |
| Prepayment | Salaried - No pre-payment permitted until repayment of 12 EMIs |
| Pre-payment charges | Salaried - 13-24 Months - 4% of Principal Outstanding, 25-36 Months - 3% of Principal Outstanding> 36 Months - 2% of Principal Outstanding |
| No Due Certificate/No Objection Certificate (NOC) | NIL |
| Duplicate of No Dues Certificate/NOC | NIL |
| Solvency Certificate | Not applicable |
| Overdue EMI interest | 2% on EMI per month |
| Charges for changing from fixed to floating rate of interest | Not applicable |
| Charges for changing from fixed to floating rate of interest | Not applicable |
| Stamp duty & other statutory charges | As per applicable laws of the state |
| Credit assessment charges | Not applicable |
| Cheque swapping charges | Rs 500/- |
| Amortization Schedule charges | Rs 200/- |
| Loan cancellation charges | NIL (However client would be charged interest for the interim period between date of loan disbursement and loan cancellation and processing fees would be retained.) |
| Cheque bounce charges | Rs. 550/- per cheque bounce |
| Legal/incidental charges | At actual |
Note:
Not all the personal loan applicants with HDFC Bank will receive the same interest rate. The rates are determined by various factors. Following are the important factors that play an important role in determining your interest rate on a personal loan.
Credit ScoreHaving a good credit score will help you get the best interest rates and enables you to access credit effortlessly. If you have a poor credit score, it is not entirely impossible to avail a loan, but it will cost you in terms of a higher interest rate - or loan rejection which will damage your score further.
IncomeLenders are willing to offer a personal loan at low interest rate when you have better repaying ability. Hence your income plays a crucial in determining the interest rate. Higher your income lower will be your interest rate on a personal loan.
Reputed EmployerWorking in a reputed organisation can certainly get you a good deal on your personal loan. For lenders, a reputed employer means a better job stability. If you are working in a company that is listed by the bank, chances are higher that you will get a better interest rate. A salaried employee will get a different rate of interest than a self-employed individual.
Relationship with the lenderIf you are already an existing customer with HDFC Bank, you will get a better interest rate on a personal loan than a non-HDFC Bank customer. The bank considers the existing customers as reliable candidates for a personal loan. Hence the rate of interest will be lower. Moreover, the time taken to process the loan is also shorter than the new customer who may have to go through a lengthy documentation process.
You can use HDFC Bank’s personal loan EMI calculator to easily calculate your monthly EMI outflow instantly and accurately. Manually calculating your EMI can be tedious and tiresome and prone to error. The EMI calculator will calculate your total payable amount, your monthly payment and the total payable interest. You can use the online personal loan EMI Calculator to arrive at the EMI in line with your monthly budget.
There are several ways of applying for an HDFC Bank personal loan:
Need help with advice on eligibility and on which loan offer suits you the best?
If you want to apply for a personal loan with the lowest interest rates as applicable to your unique credit profile, CreditMantri can guide you through the entire application process and match you with the loan offer best suited to your credit needs.
Once HDFC Bank receives a completed application form along with the necessary supporting documents, it determines whether you are eligible for a personal loan. If you are found eligible, you will get an approval for a specific loan amount based on your criteria, requirement, and repayment capability. You can check the status of your HDFC Bank personal loan online using your application number or call up the customer care for help with tracking your loan status.
1. What is the minimum interest rate on HDFC Bank personal loan?
The interest rate on HDFC Bank personal loan starts from 11.25% onwards.
2. What is the processing fee on HDFC Bank personal loan?
HDFC Bank charges up to 2.50% of the loan as processing fee, subject to a minimum of Rs.1000 and maximum of Rs.25000.
3. What are the modes of payment available to me to repay HDFC Bank personal loan?
You can repay the loan through post-dated cheques, ECS or through a standing instruction to debit your HDFC Bank account with the EMI amount.
4. What is the minimum and maximum personal loan amount?
The loan amount depends the bank’s lending policies and is influenced by your eligibility, income, nature of job and repayment capacity.
5. Do I need to provide collateral to secure HDFC Bank personal loan?
There is no requirement to provide any security or collateral of any sort.
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application