We will provide information about one of the most preferred and important aspects of HDFC Bank personal loan like HDFC Bank personal loan eligibility criteria, HDFC Bank EMI Calculator in this article. However, HDFC Bank does not need any kind of introduction, as it has long served its financial services and built a wide niche in the market. There are several important aspects of HDFC personal loans some of them are mentioned below:
- Quick loan processing: Within a few minutes, you can apply for a personal loan from HDFC Bank and in a few hours, you can get personal loan approval. HDFC Bank provides various services such as pre-approved customers that take even less time than others to ensure quick loan processing, but do not worry if you are not a current HDFC Bank customer because you can also get a personal loan from HDFC in a short period.
- Unsecured loan: A collateral-free loan is an HDFC personal loan. If it’s not a form of loan that does not require any kind of guarantee or guarantor for the acceptance of the loan amount, you must know what it means. In this case, the approval of the loan sum depends on different factors, such as our monthly revenue, cash flows, company or employment strength or stability, repayment potential, development.
- Online Loan Management: Via online loan processing, HDFC Bank provides numerous services that make online personal loan management simpler for you. With this, the repayment tenure, interest rate, etc. can be handled by monitoring HDFC loan status with your home comfort.
- Competitive interest rate: HDFC Bank’s loan interest rate varies according to the profile of the borrower, which normally starts at 10.75 percent (t&c apply). If you have a high salary, a good credit score, full documentation needed proof of income, and a good relationship with the bank, the probability of having a personal loan at a low-interest rate automatically increases.
- Flexible repayment tenure: The HDFC Bank often initially considers the convenience of its client when making any deal or service. And by continuing with this HDFC Bank, a personal loan provides adjustable repayment tenure to make it easier for borrowers with a variety of times to select the best suited to them.
- Simplified Loan Process: HDFC Bank offers quick, fast, and convenient personal loan processing. As this decreases the chances of loan application denial, the things you need to keep up with our high sales and a decent credit score. In particular, with online processing, the loan process takes less time, since there is no need to make bank visits now.
Interest Rate of HDFC Bank Personal loan
There are several facets, and if you think or talk about a personal loan, things come up and one of the main ones is the interest rate. You all need to remember that the interest rate is paid on a personal loan and everyone is trying to get a loan at a low-interest rate, as the total cost of the loan is mostly affected.
The modern lifestyle and rising human needs have also increased the number of lenders on the market for personal loans, which is primarily due to the huge demand for personal loans. And everyone claims to have a loan at a low-interest rate, but not as low as that provided by HDFC Bank. The interest rate on personal loans provided by HDFC Bank begins at 10.75 percent.
So, it’s a perfect chance to take advantage of the HDFC personal loan at such a low-interest rate. This loan sum can be used for any reason, such as for emergency medical care, payment of additional loans, marriage expenses, and compliance with other personal financial requirements.
HDFC Bank Personal Loan EMI Calculator
The EMII is another big feature of a personal loan (Equated Monthly Installments). And one more thing that is popular today is the EMI calculator, similar to this one. It is a calculator, as the name implies, that helps calculate the EMI on a personal loan. You will also find the cost-free HDFC Bank personal loan EMI calculator.
You need to think about how anything in this competitive world will come for free, but yes, it’s real. The HDFC EMI calculator is simple to use, with the inclusion of trendy technology. In an EMI calculator, various items play important roles, some of which are given below:
- Tenure of Debt Repayment: With the aid of an EMI calculator, the best suited and perfect loan tenure can be selected. To minimize the interest rate, if you want to pay a large number of EMIs, then your loan term would be longer and vice versa. The value and number of EMIs can be adjusted to ensure that you select the perfect possible tenure of the loan.
- Interest Rate: The interest rate on a personal loan is one of the most important aspects of the loan, as it defines its total cost, as mentioned above. A different interest rate on personal loans may be provided by the HDFC Bank based on the applicant’s profile and other variables, such as income, loan size, repayment tenure, etc.
- Eligibility for Amount of Loan: HDFC Bank personal loan eligibility criteria are simple to meet, but if you do not fit in, then the chances of applying for a loan increase automatically, especially due to the eligibility of the loan amount.
Benefits HDFC Personal Loan EMI Calculator
You will find a large range of personal loan EMI calculators, so here are the reasons and benefits for why you should go for the HDFC personal loan EMI calculator:
- It measures EMI simple for you: If you use the HDFC EMI calculator, you can know the amount you need to pay monthly to repay the loan amount in a matter of micro-seconds.
- EMI calculator personal loan makes EMI calculation hassle-free: You can perform the EMI calculator most efficiently ever by filling with the basic data such as the loan number, interest rate, and loan repayment tenure.
- This EMI calculator helps to prepare well for finance: The HDFC EMI calculator will play a key role in assessing your eligibility for the loan amount and also in deciding on your ideal lending institution. It will show you the monthly payable EMI and interest rate when you use the HDFC EMI calculator and fill in the EMI calculator form.
HDFC Personal Loan Eligibility Criteria
- A minimum of 21 years and a maximum of 58 years should be the age of the claimant.
- Daily income should be provided to an applicant.
- The company should be in daily service for at least 3 years.
- The applicant’s age should not be less than 28 years and, at the time of loan maturity, should not be more than 68 years.
- The business needs to be sustainable for at least 2 years after tax.
HDFC Bank Personal Loan, the common documents needed
- Age proof
- ID proof
- Application type
- Residing proof
- Income proof
- Bank statements
- Signature verification proof
- Pro-forma Invoice or Rate List
Lastly, there are various other important parts of HDFC personal loan besides the above mentioned. Few things like HDFC Bank personal loan eligibility criteria, interest rate is subjective as it varies depending on many factors and an applicant’s profile.