HDFC Bank

HDFC Bank

Overview

Whatever the occasion, HDFC Personal Loan can help. The procedure is simple, documentation is minimal and approval is quick.Borrow up to Rs 15,00,000 for any purpose depending on your requirements with Flexible Repayment options.If you are an existing Bank Customer or an Auto Loan customer with a clear repayment of 12 months or more from any of HDFC approved financiers or HDFC bank, you can get a hassle free personal loan (without income documentation).

Loan Feature

Loan Amount Upto Rs 15,00,000/- depending on your income and repayment capacity.
Interest Rate Salaried/Self Employed - 15.75% to 22%
Tenure 12 to 60 months.
Pre Payment Charges Upto 4% of the Principal Outstanding.
Service Charges

Loan Processing Charges are upto 2%

Eligibility Criteria : Personal Loan

  Salaried Self
Age 21-60 Years Self Employed (Individuals):21-65 Years; Self employed (Professionals):25-65 Years
Income Minimum Net Monthly Income: At least Rs. 10,000/- per month net income (Rs. 15,000/- in Mumbai, Delhi, Bangalore, Chennai and Hyderabad, Rs. 12,000 in Calcutta, Ahmedabad and Cochin) Self employed (Professionals):Minimum Annual Income-Rs. 100000 ;Self Employed (Individuals):Minimum Annual Income-Rs. 100000
Job Experience Minimum 2 years in employment and minimum 1 year in the current organization Self employed (Professionals):4 to 7 years depending on profession;Self Employed (Individuals):3 years in current organisation, with 5 years of total experience
Residence Proof Information Not Available Information Not Available

Docs Required : Personal Loan

  Salaried Self
ID Proof Passport Copy/ Voters ID card/ Driving Licence Passport Copy/ Voters ID card/ Driving Licence
Address Proof Copy of ration card/telephone or electricity bill/rental agreement/passport Ration card/telephone or electricity bill/rental agreement/passport copy/trade license/sales tax certificate/Establishment/ Sales Tax certificate
DOB Proof Not Required Not Required
Financial Docs

Salaried (Individuals)

  • Bank Statements (latest 3 months bank statement / 6 months bank passbook)
  • Latest salary slip or current dated salary certificate with latest Form 16

Self employed (Professionals)

  • Bank Statements(latest 6 months bank statement /passbook)
  • Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
  • Qualification proof of the highest professional degree

Self Employed (Individuals)

  • Bank Statements(latest 6 months bank statement /passbook)
  • Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
  • Proof of continuation (Trade licence /Establishment /Sales Tax certificate)
  • Other Mandatory Documents(Sole Prop. Decl. Or Cert. Copy of Partnership Deed,Cert. Copy of MOA, AOA & Board resolution.)

Self Employed (Pvt Cos and Partnership Firms)

  • Bank Statements(latest 6 months bank statement /passbook)
  • Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
  • Proof of continuation (Trade licence /Establishment /Sales Tax certificate)
  • Other Mandatory Documents (Sole Prop. Decl. Or Cert. Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original).

Other Charges : Personal Loan

Description of Charges Personal Loan
Loan Processing Charges Up to 2.50% of the loan amount subject to a minimum of Rs. 1000
Prepayment Salaried:No pre-payment permitted until repayment of 12 EMIs
Self Employed:No pre-payment permitted until repayment of 6 EMIs
Pre-payment charges Salaried: 4% of the principal outstanding after repayment of 12 EMIs. For top-up/enhancements - 2% of the principal outstanding
Self-employed:4% of the principal outstanding after repayment of 6 EMIs
No Due Certificate / No Objection Certificate (NOC) NIL
Duplicate no due certificate / NOC Rs 250/-
Solvency Certificate Not applicable
Charges for late payment of EMI @ 24 % p.a 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/- per event
Loan Re-booking charges / Re-scheduling charges Rs 1000/-
Loan cancellation charges Rs. 1000/-
Cheque Bounce Charges Rs 450/- per cheque bounce
Statement Charges (per statement)/ Repayment Schedule Rs 500/-
Legal / incidental charges At actual

Products offered by HDFC Bank

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