Are you looking to take a loan but aren’t sure where to start? If yes, then you are at the right place. In this blog, we will tell you everything you need to know about HDFC Bank Personal Loan. Besides, we’ll also tell you the best deals and options in case you are not satisfied with what is available to you. So without further ado, let’s get into it!
HDFC Bank Personal Loans: Get the Best Deal Today
– HDFC bank offers personal loans with interest rates ranging from 10.5-24% and loan amounts up to ₹40 lakhs.
– You must meet the eligibility criteria and documents required to apply for an HDFC bank personal loan. The eligibility criteria include having a bank account, PAN card, a valid income document such as a proof of income or bank statement, and a valid bank account address as per your bank’s requirement.
– Recently, HDFC bank hiked its interest rates on personal loans and other borrowing options. If you are looking for a personal loan for any financial need, it is essential to compare various loan options available and pick the one that best suits your needs.
Features of HDFC Bank Personal Loans
Yes, you can bank with HDFC bank for personal loans. It offers a range of options for customers to choose from and provides loan of various tenure and size.
The bank offers personal loans with an interest rate starting from 10% to 30% per annum. You can opt for a loan tenure of 1 year, 6 months, 9 months or 12 months. The bank also offers personal loans with flexible repayment options such as EMIs, installments and salary credit. For working women, the bank has special schemes such as repayment bank loans, home loans etc that are customized to suit their needs.
To avail its services, you just have to fill in the required forms and submit the documents within 48 hours of application approval. The bank processes personal loans within 10 seconds of receiving applications from non-customers and within 4 hours for its customers too.
Eligibility Criteria for HDFC Bank Personal Loans
If you’re a bank customer and seeking a personal loan, then you must check the bank’s criteria for eligibility. The bank loans are available for salaried individuals with a minimum income of Rs. 25,000/- per month. Therefore, you must have a job with a salary or equivalent income to qualify for a personal loan from HDFC bank. Further, the age of the applicant should be between 21-60 years. Besides, the applicant must have at least two years of working experience. Moreover, other criteria such as housing loan or education loan may be considered if the applicant has taken any prior loans from bank.
Do you need a personal loan to finance your business expansion?
Yes, you can get a personal loan from HDFC bank to finance your business expansion. You can get a personal loan up to Rs. 40 lakh with an interest rate of 10.5% – 24%. In order to qualify for a personal loan with HDFC bank, you must be a teacher and have a valid ID card or passport. Additionally, you will need to provide bank statements and other documents to prove your income and financial stability. To find out more details and apply for a personal loan, please visit hdfcbank.com.
Can I get a personal loan if I have bad credit?
Yes, it is possible to get a personal loan with bad credit. However, before applying for a personal loan, it is important to compare different lenders and find one that offers the best rates and terms.
Traditional banks usually require a good credit history to qualify for a loan, so other options, such as online lenders, may be a better choice for those with bad credit.
Instant cash loans, such as Fibe Personal Loan, can help those with bad credit get money quickly. MoneyTap Personal Loan is also an option for those with bad credit, as it allows for flexibility in how the loan is used.
Some lenders may be willing to provide a loan for those with bad credit, but the interest rates may be higher.
What are the interest rates for personal loans from HDFC Bank?
HDFC Bank offers personal loans with interest rates starting from 11% to 21%. Depending on the customer’s credit history and income, the interest rate for government employees is 10.25%, while it is 10.40% for non-government employees. For loan amounts greater than Rs.50,000, the rate of interest for government employees is 10.99%, while it is 10.40% for non-government employees. Finally, for loan amounts greater than Rs.35,000, the interest rate is 10.99%.
Personal loans are an excellent option for funding your business, home, or traveling needs. They can be used for anything from starting a business and buying equipment to covering home improvements and vacation travel. Personal loans allow you to choose the amount you want and how long you need the money for. They also allow greater flexibility in comparison to bank loans such as choosing the most convenient repayment plan that works best for your budget and changing your mind with ease if necessary. To know more, connect with an expert today!