A personal loan is a type of unsecured loan and helps you meet your current financial needs. In general, you do not have to pledge collateral or guarantees when taking out a personal loan, and your lender gives you the option of using the funds as needed. It can be used as a solution to manage your travel and wedding expenses, as well as for medical emergencies, renovations, debt consolidation, and others.
No collateral or collateral is required to qualify for a personal loan.
Disbursement of the loan in the day following the loan request.
The interest rates for HDFC personal loans range from 10.75% to 21.50% per year.
Borrowers can opt for the “Sarv Suraksha Pro” policy, which offers credit protection, accidental hospitalization coverage and permanent disability / accidental death coverage.
Borrowers can also take advantage of optional insurance coverage, which provides protection against personal accidents and serious illness.
Standard interest rate 10.75% to 21.50% per year.
Loan amount Rs.50,000 to Rs.40 lakh
benefits
Payment in 10 seconds for pre-approved clients and in 4 hours for other applicants
Minimum documentation required
Loan Processing Fees Up to a maximum of 2.5% of the loan amount, subject to a minimum fee of 1,999 rupees and a maximum rate of 25,000 rupees
Prepayment / additional fees
4% of the remaining capital (loan duration between 13 and 24 months)
3% of the outstanding capital (holding the loan between 25 and 36 months)
2% of the remaining capital (loan term from 36 months)
The interest of 2% per month to be paid by EMI is calculated on the capital or the outstanding EMI
Stamp duty and other statutory charges In accordance with the laws of the state in which the applicant resides
Exchange rate of 500 rupees
Amortization plan Rs.200
Bounce check costs Rs.550 per event
Ancillary or attorney fees Currently
Must be employed by a private enterprise, a public sector enterprise or a government, central or local agency.
Must be over 21 years old. The maximum age is 60 years.
You must have a general work experience of at least 2 years.
You must have worked in your current organization for at least 1 year.
Residents of Mumbai, Bangalore, Delhi, Hyderabad, Chennai, Ahmedabad, Kolkata, Pune and Cochin must have a minimum income of 20,000 rupees per month.
Citizens of other cities must earn at least 15,000 rupees a month.
Proof of identity Aadhaar card, driver’s license, passport or voter registration card
Proof of address Voter ID, Aadhaar card, passport or driver’s license
Other documents
Bank statements for the last three months or savings book for the last six months.
Latest salary confirmation or salary certificate
Form 16
Passport size photo