The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an ‘in principle’ approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of RBI’s liberalisation of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of ‘HDFC Bank Limited’, with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995. The Bank is a young and dynamic bank, with a youthful and enthusiastic team determined to accomplish the vision of becoming a world-class Indian bank. It has about 87,555 employees and has a presence in Bahrain, Hong Kong and Dubai. HDFC Bank is the second largest private bank in India as measured by assets. There are more than 3500+ branches and 11,500+ ATMs in all over India. It is the largest bank in India by market capitalization as of February 2016. It was ranked 69th in 2016 BrandZTM Top 100 Most Valuable Global Brands.
HDFC Bank provides a series of digital offerings like – 10 second personal loan, Chillr, PayZapp, SME Bank, Watch Banking, 30-Minute Auto Loan, 15-minute Two-Wheeler Loan, e-payment gateways, Digital Wallet, etc. The HDFC Bank also provides a number of products and services which includes Wholesale banking, Retail banking, Treasury, Auto (car) Loans, Two Wheeler Loans, Personal loans, Loan Against Property and Credit Cards.
The equity shares of HDFC Bank are listed on Bombay Stock Exchange and the National Stock Exchange of India. Its American Depository Shares are listed on NYSE and the Global depository receipt are listed on the Luxembourg Stock Exchange where two GDRs represent one equity share of HDFC Bank..
The official website of HDFC Bank is www.hdfcbank.com. All the details of bank can be gained by visiting this site.
HDFC Bank offers many types of loans that make it possible for you to realize your dreams. Want to Study in top colleges or Abroad? Want a buy your dream home or that great car? Want to go on a world trip with your family or buy a flat panel TV? No matter what you desire, a bank loan will help you realize it. HDFC Bank offers some of the best loans in India, at attractive interest rates and with flexible pay back options. HDFC bank loans are designed to meet the needs of diverse individuals.
Below is the list of Loans offered by HDFC Bank –
- Personal Loans
- Car Loans
- Education Loans
- Business Loans
- Two Wheeler Loans
- Gold Loans
- Loan against Assets
- Rural Loans
In this article we will provide all the details of Personal Loan scheme provided by HDFC Bank such as eligibility to apply for Personal Loan, Interest Rates, Benefits and many more.
HDFC BANK PERSONAL LOAN – COMPLETE DETAILS
Personal loans from HDFC Bank are quick, competitive and transparent. Whatever be your need, you can customise a personal loan for you. The Bank’s seamless loan sanction and disbursal procedure ensures that availing a personal loan is a hassle-free experience. Unmatched additional benefits, quick documentation, ease of communication and doorstep service make HDFC Bank a leader in personal loans.
FEATURES OF HDFC BANK PERSONAL LOAN
- Highly competitive personal loan interest rates.
- Special offers, interest rates and charges for HDFC Bank account holders.
- Personal loan eligibility in 1 minute available online and across all branches
- Special personal loan offers* for women employees.
- Walk in Loan: Walk in to the branch with your documents and get Personal Loan in a day!, at select branches.
- Convenience of contacting us through SMS, Webchat, Click2Talk, PhoneBanking and across all branches.
BENEFITS OF PERSONAL LOAN
HDFC Bank offer personal loans for all your requirements. Smart products, competitive offerings and peace of mind differentiate us. Enjoy triple benefits when you avail a personal loan from HDFC Bank:
- Quick personal loans – Experience express loan processing, easy documentation, quick disbursal and doorstep service
- Competitive pricing – Benefit from competitive loan rates and convenient repayment options.
- Transparency – Zero hidden charges, reasonable processing fees and utmost clarity on the loan process with up-to-date information about the loan application at each stage.
- Free Insurance Cover : All personal loans approved by HDFC Bank come with an added benefit of personal accidental cover of up to 8 lakhs along with a critical illness cover of 1 Lakhs without any extra charges.
- Special Offers for Women Applicants : HDFC Bank offers a specialized discounted scheme for women known as the Personal Loan Diva Scheme. This scheme offers pre approved personal loans of Rs. 3 Lakhs to women applicants along with more than 100 Diva offers across various premium brands and products.
- PERSONAL LOAN EMI CLCULATOR : Personal loans from HDFC Bank are quick, competitive and transparent. Use this flexible online Personal Loan EMI Calculator to arrive at the EMI you are comfortable with. The calculator helps you to plan your borrowings and loan payments as per your requirements.
PERSONAL LOAN DIVA FOR WOMEN CUSTOMERS
HDFC Bank Personal Loan Diva is an exclusive offer for today’s women, who are empowered, enlightened and enterprising – a woman like you. This tailor-made Personal Loan takes you closer to fulfilling your dreams by taking care of your financial requirements and also comes with a host of benefits through special privileges.
HDFC Bank Personal Loan Diva offers:
- Pre-approved Personal Loan of Rs 3 lac.
- More than 100 Diva offers across premium brands and products.
Note : More information can be gained from the official site of HDFC Bank.
ELIGIBILITY FOR HDFC BANK PERSONAL LOAN
The documentation for a HDFC Bank personal loan varies from individual to individual. The requirements are based on your profession, income and loan requirement.
Do you receive a regular salary?
This category includes salaried doctors, CAs, employees of private limited companies, employees from public sector undertakings including central, state and local bodies.
You should :
- Be 21-60 years of age.
- Have had a job for at least 2 years, and a minimum of 1 year with your current employer.
- Be earning at least Rs. 12,000/- per month net income (Rs. 15,000/- in Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Pune, Calcutta, Ahemdabad, Cochin).
DOCUMENTS REQUIRED FOR HDFC BANK PERSONAL LOAN
If you want to apply for HDFC Bank Personal Loan then you have to submit the following documents to the bank –
- Proof of identity: Copy of passport/voter ID card/driving license
- Proof of address: Copy of ration card/telephone or electricity bill/rental agreement/passport
- Last 3 months bank statement/6 months bank passbook
- Latest salary slip/ current dated salary certificate with the latest Form 16
HDFC BANK PERSONAL LOANS INTEREST RATES AND CHARGES
Enclosed below are HDFC Bank Personal Loan Interest Rates & Charges :-
|Fee||Amount to be Paid|
|Rack interest rate||Salaried – 15.75% to 20%|
|Loan processing charges||Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 25000/- for Salaried Customers.|
|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|
|Charges for late payment of EMI||24% per annum on amount outstanding from date of default|
|Charges for changing from fixed to floating rate of interest||Not applicable|
|Charges for changing from floating to fixed rate of interest||Not applicable|
|Stamp duty & other statutory charges||As per applicable laws of the state|
|Credit assessment charges||Not applicable|
|Non standard repayment 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|
|CIBIL Report Copy Charges||Rs.50 per copy|
Rates offered to customer during the period of July 2016 to September 2016.
|IRR||Q II (2016-17)|
Annual Percentage Rate offered to customer during the period of July 2016 to September 2016.
|APR||Q II (2016-17)|
*Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges
HOW TO APPLY FOR HDFC BANK PERSONAL LOAN
You can avail the Personal Loan facility of HDFC Bank by following few steps mentioned below :-
Step 1: Log on to the official site of HDFC Bank.
Step 2 : Go to the Loan Section and Click on Apply Online Button.
Step 3 : Fill up the loan eligibility form with correct personal and financial details. The tool checks for your personal loan eligibility instantly as per HDFC’s norms and offers customized loan options available for you.
Step 4: You need to choose a loan option as per your need and repayment capacity. At this stage, you can compare various loan options and choose the most appropriate one.
Step 5: After choosing the plan, click submit.
Step 6 : You will receive a confirmation message from the Bank for further procedure.
Note : We make no claims on accuracy and reliability of information provided above. For exact details visit the official site of HDFC Bank.
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