Tune into HDFC Personal Loan EMI Calculator for a hassle free loan journey

While looking for a personal loan, what is that one thing that strikes your mind? You will say interest rate, tenure period, loan amount or processing fee. Everyone will have almost the same answer. However a very important element is being missed here. Let the guesswork begin. That important element is EMI. Yes my dear friend, EMI is a very important factor which has to be considered while availing a personal loan from the bank. This sole factor has the potential to make or break your loan journey. The market is full of lenders who are more than happy to offer you a personal loan. However, you must always choose the one that gives the best rate of interest and other facilities. HDFC Personal loan comes with competitive rates of interest and is offered to every eligible salaried employee. Today, I will be telling you about HDFC personal loan EMI calculator.

You must be thinking why I am talking about HDFC personal loan EMI calculator? The answer is very simple my friend. The calculator can be used to calculate your EMI amount and total interest payable to the bank within few seconds. You can now say a big goodbye to manual calculation and instead use the tool to calculate your EMIs. Pen and paper will now take a backseat because this calculator provides reliable and accurate results to the user within few seconds. All you have to do is simply use the calculator to find out the EMI amount which you will have to pay to HDFC Bank every month.

EMI stands for equated monthly installment and need to be paid to the bank every month on a due date. In case, you are unable to pay the EMI on time, you will attract penalty charges on the same. HDFC personal loan EMI calculator will help you to calculate the EMI amount and thus you will be able to plan a budget accordingly. This will ensure that you have a smooth personal loan journey. So do remember my friend simply availing a personal loan won’t help. You will have to consider the aspect of EMI as well.

I would like to inform you all about how a HDFC Personal loan EMI calculator actually works. The tool is tailor made to provide you with the information related to the EMI amount you will have to pay to HDFC as well as the total interest payable. You have to do nothing but just feed in the details of your loan amount along with the rate of interest and tenure period. The best part is that you won’t have to wait for much longer as the results are displayed on the screen instantly. You can use the tool to compare the EMI offered on various rates of interest. To make things easier for you, I have given an example below. Have a look at the same.

Suppose Abhishek Ranjit, the programming head of Colors channel living in Mumbai, wants to take his parents to an extended trip to Europe. He requires Rs. 5 Lakhs for the same and has already saved Rs. 2 Lakhs for the trip. For the remaining Rs. 3 Lakhs, he decides to approach HDFC bank. The bank checks his repayment capacity and finds him to be eligible for the personal loan. Abhishek is offered a personal loan of Rs. 3 Lakhs at an interest rate of 11.5% for a tenure of three years. Abhishek is more than happy to receive the loan. He acts smartly and decides to use the EMI calculator so as to find the EMI amount. He wishes to know the EMI amount so that he can keep the said amount aside from the salary every month. The EMI amount and the total interest payable will turn out to be Rs. 9,892 and Rs. 56,140.respectively. This clearly means that Abhishek will be paying the bank Rs. 3,56,140 in three years so as to repay his loan completely.

As you can see from the above example, Abhishek is smart enough to take maximum utilisation of HDFC personal loan EMI calculator. You too must use the tool to plan things accordingly and have a tension free personal loan journey.

Check out HDFC Personal Loan Interest Rate for a smooth loan journey

Dreams inspire us to work harder so that we can achieve them. Some people dream of going to a long vacation to US while others wish to renovate their home sweet home. Some want to throw the best marriage party for their daughter’s marriage while others wish to see their child enrolled in a top foreign university. All our wishes are connected to finance.

There are times when a family member requires a surgery and one has to arrange quick funds for the same. Whatever maybe the situation but the ultimate solution is one- a personal loan. There are many lenders in the market who are willing to give you a personal loan but you must decide the best one for you. HDFC bank offers a Personal loan to salaried employees at an affordable rate of interest. The repayment tenure for the same goes up to five years. Today, I will be telling you about HDFC personal interest rate so that you have a clear idea regarding the interest rate which will be offered to you.

HDFC Personal Loan Interest Rate

HDFC bank offers a personal loan to a salaried employee at an interest rate of 15.75-20% depending on the eligibility and loan amount. The applicant is given flexible repayment options depending on his/her profile. The interest for the loan is calculated on a monthly reducing balance method. You can take a personal loan up to Rs. 15 Lakhs so as to meet your personal requirements. The applicant is also required to pay a processing fee up to 2.5% of the sanctioned loan amount. The minimum and maximum amount that can charged is Rs. 1,000 and Rs. 25,000 respectively.

A thing which should be brought to your attention is that prepayment of loan is not allowed before the loan borrower completes 12 EMIs. so you can only pre-pay your loan after you complete twelve monthly installments. In case, you want to prepay the amount between 13 to 24 months, then you will have to pay a prepayment fee of 4% of the principal amount which is outstanding. If you wish to pre-pay your loan between the tenure of 25 to 36 months, then the charge will be of 3% of the principal amount outstanding.For any kind of prepayment which is above 36 months, the charge is two percent of the principal which is outstanding.

HDFC Personal Loan Eligibility

In order to successfully avail a loan from the bank, the applicant has to meet the eligibility norms. It will be based on the loan requirement of the applicant, the income he earns each month and the profession he is part of.

• The applicant needs to be a salaried individual who falls under the category of employee of public sector undertakings , Chartered Accountant, an employee of private limited companies or Doctor.
• The applicant should be between the age group of 21 to 60 years. This clearly means he/she has to attain a minimum age of 21 so as to secure a loan from the bank.
• Work experience of at least two years is mandatory
• He/she should be employed with the present company for a minimum of one year
• The minimum net income should be at least Rs. 12,000.
• For people living in cities like Mumbai, Delhi, Bengaluru, Cochin, Pune, Kolkata, Hyderabad, Chennai and Ahmedabad the net monthly income needs to be at least Rs. 15,000.

Documents Checklist

The list of important documents for a HDFC personal loan has been given below. Do have a look at them-

• Identity Proof- photocopies of Voter ID Card/Driving License/Passport
• Residence Proof- photocopies of Telephone Bill/Ration Card/Passport/Rental Agreement/Electricity Bill
• Income Proof- Latest salary slip along with a salary certificate which is current dated with latest Form 16
• Bank Statement of the previous three months or passbook statement of six months is needed

It is very important for you to get the best HDFC Personal loan interest rate in order to have a smooth and tension free loan journey. So check out if you are able to match the eligibility criteria given above. If yes, then approach the bank today itself for the best deal.

Take care of your personal needs through HDFC Personal Loan

HDFC Personal loan is a multipurpose loan which is put to various uses. The usage extends to fulfilling varied needs like conducting a wedding in the family, funding for higher education of your children, paying school admission fees, planning a vacation or  buying consumer durable items like LCD, washing machine, refrigerator etc. Focus on your one specific need and apply for personal loan accordingly.

There are many lenders across the marketplace which offer personal loans at different rates of interest. Don't allow yourself to put in a dilemma but go for personal loans which suit your pocket comfortably as you have to repay equated monthly installments accordingly.

Keeping in view your various requirements, HDFC Personal loan has been designed to accustom your every possible need at varied interest rates. Accommodate your needs by choosing your HDFC Personal loan at the lowest interest rate that would allow you to easily realize your needs as soon as possible. Personal loans are unsecured loans with tenures upto 5 years, giving you sufficient time to easily settle off your loans quickly as possible.

HDFC Personal Loan Features

1. Protecting your needs : Get personal accidental cover by availing a nominal premium of upto ₹  8 lakhs, and get critical illness cover of upto ₹ 1 lakh. The premium for these policies will get subtracted from the loan amount at disbursal. There are applicable taxes and surcharge/cess which are add-on charges thereon.

2. Personal Loan Security: Shield your personal loan with Sarv Suraksha Pro, which includes the following key benefits as :

• Get credit protection cover equal to the outstanding loan amount.
• Avail accidental hospitalization cover of upto ₹ 8 lakhs.
• Avail Death/Permanent Disablement cover of upto ₹ 1 lakh.

Please note that these facilities are subject to the terms and conditions offered by HDFC Ergo GIC Ltd.

3. Fulfills your every need : It doesn't matter your needs are, HDFC Bank can customize a Personal loan for you. The existing HDFC Bank account holders can get a host of special offers, interest rates and charges. Although, the first-time loan seekers can also opt for such a couple of benefits.

4. Easy Personal loan balance transfer : Now you can easily transfer your existing personal loan to HDFC Bank. You can enjoy lower EMIs and save on your interest payments.

• Get interest rates as low as 11.49% on the existing loan transfer
• Avail a flat processing fee of only ₹ 999.

5. Instant Eligibility Check and Disbursal

Within 60 seconds, know your personal loan eligibility online or from selected branches of HDFC bank. If you have submitted all your papers, the disbursement of the loan will take just only one working day.

HDFC Personal Loan Eligibility

The following applicants are eligible to apply for a Personal Loan:

• Applicants should be salaried doctors, CAs, employees of private limited companies, employees from public sector undertakings, including central, state and local bodies.
• The age of applicants should fall between 21 and 60 years of age.
• The applicants should have atleast 2 years of working experience, with a minimum of 1 year with the current employer.
• The minimum earnings of an applicant should be ₹ 15,000 per month (₹ 20,000 in Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Cochin).

HDFC Personal Loan Interest Rate and Other Details

The applicable HDFC Personal Loan interest rates range from 15.75% to 20% for salaried employees. There are other major charges which need to be incurred by the applicant availing personal loans from HDFC Bank. The loan processing charges amounts upto 2.50% of the loan amount subject to a minimum of ₹1,000/- and a maximum of ₹25,000/- for salaried customers. There are no-prepayment charges levied on salaried employees until the repayment of 12 EMIs.However, the pre-payment charges applicable on salaried employees get levied in the following ways:

• 13-24 Months - 4% of Principal Outstanding,
• 25-36 Months - 3% of Principal Outstanding
• >36 Months - 2% of Principal Outstanding

HDFC Personal Loan Documents

To apply for HDFC Personal loan, submit the following documents as required:

• Duly filled application form with a passport size photograph
• Bank statement of previous 3 months (Passbook of previous 6 months)
• Identity proof : Copy of passport/PAN card or voter ID card/driving license/Aadhaar
• Address proof : Copy of passport/voter ID card/driving license/Aadhaar
• Signature Proof : Passport/PAN Card

HDFC Personal Loan Customer Care

Facing any queries/doubts/questions regarding opting for Personal loans from HDFC Bank or want to give suggestions or recommendations for improvement in any kind of services. Feel free to ring up the desk of HDFC Bank customer care on : 6160 6161 from the cities such as Ahmedabad / Bengaluru / Chennai / Delhi & NCR / Hyderabad / Kolkata / Mumbai / Pune and get it resolved. If you are from another city and the city name is not mentioned here, then visit HDFC Bank customer care online and choose your respective city from the 'phone banking' feature and access the phone number available on the website.

HDFC Personal Loan Apply Online- Say Bye to Financial Worries

Hi! Are you in urgent need of money? Do you have plans of having a destination wedding? Are you looking for a personal loan so as to wash out all financial tensions? Well, HDFC Personal Loan is one of the best personal loans in the Indian market today. HDFC Bank offers affordable rates on personal loans so as to make it more people-friendly. In addition to this, the bank also gives you the opportunity to get a higher loan amount which is an add-on to this loan.

It is also important to note that the interest rate offered by HDFC Bank is one of the lowest interest rates on personal loans. So, what are you waiting for? Apply for HDFC Personal Loan But first, check the eligibility criteria below:

HDFC Personal Loan Eligibility-

HDFC Bank offers personal loans on the basis of certain parameters which decide the loan amount and interest that they are going to offer to the applicant. Similarly, to get a personal loan with the desirable loan amount and attractive interest rates, you must have the below-mentioned eligibility criteria. If your profile matches the criteria set by the HDFC Bank, the chances of getting desirable loan amount and interest rates are higher for you, so let us have a look:

• Your minimum age should be 21 years
• Your maximum age should be 60 years
• An individual must have 2 years of working experience wherein having 1 year of experience with the current employer is important
• The applicant must have a Net Monthly Income of ₹12,000/-. However, the Net Monthly Income should be ₹15,000/- if the applicant is living in Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Cochin

Personal Loan Eligibility Calculator-

You must know that the interest rates and the loan amount are calculated with the Personal loan eligibility calculator of HDFC Bank. So, to check eligibility, follow the below steps:

• Click on ‘Check Eligibility’ on the personal loan page
• A Digital Application Form would appear
• Mention if you are an existing customer of the bank or not
• Continue with the mobile number you use
• Mention the Net Banking Details like the Customer ID Number and Mobile Number
• Fill in the OTP you receive here

Once you fill up the above details, a loan application form would appear. Fill in the details in the form.

How to Apply for HDFC Personal Loan Online-

You can apply for a personal loan at HDFC Bank both online and offline. However, online process is more convenient and time-saving. So, to apply online, you can follow the below steps:

Step1: A person must fill up the personal loan application form with correct personal, professional and loan details.

Step2: To get a hassle-free personal loan, a borrower must keep the required documents ready at the time of applying for a personal loan.

Step3: Once the above steps are completed, a person can submit the scanned documents along with the loan application form (with photos) online.

HDFC Personal Loan Interest Rates-

The interest rate on a personal loan is accumulated on the basis of the MCLR with the present scenario of 1 Year MCLR= 8.15%. On the basis of the new MCLR rates, HDFC bank offers personal loan interest rates starting from 11.49% per annum up to 19.50% per annum which is one of the lowest interest rates in the present market today.

Documents Required-

HDFC personal loan is an unsecured loan and there is no asset verification involved in the documentation process. So, the documentation required is lesser and hence the process is hassle-free and time-saving for sure. Here is the list of documents that you must have:

• Identity Proof – Voter ID Card/Driving License/PAN Card/Copy of Passport
• Address Proof- Copy of Ration Card/Telephone or Electricity Bill/Rental Agreement/Passport
• Last 3 months bank statements
• Last 6 months bank passbook
• Latest salary slip/current dated salary certificate with the latest Form 16

Benefits of HDFC Personal Loan

• Affordable interest rate
• Flexible tenure option
• Free Insurance Cover
• 24X7 customer care service
• Special offers for women applicants- Diva Personal Loan
• Pre-approved personal loans of ₹3 lakhs and more than 100 Diva offers across premium brands and products (for women applicants)
• Sarv Suraksha Pro-credit shield cover equal to the outstanding loan amount, accidental hospitalization cover of up to ₹8 lakhs, accidental death/permanent disablement cover of up to ₹1 lakh, and critical illness is ₹1 lakh