Are you worried about your expenses on medical, education, home, and other stuff? To take a big leap, you might require enough credit, and that’s what HDFC personal loan provides.
Want to know what personal loans are?
The HDFC Personal Loan are short credit that requires no collateral or securities and can be easily availed by minimal documentation procedure.
Moreover, Individuals in quick needs and fulfilling certain criteria, having a clean credit history can also avail of pre-approved loan facilities with minimal to no documentation process.
In short
- Simpler application procedure
- Minimum paperwork
- Multipurpose usage
- Beneficial interest rates
Interested in HDFC pre-approved loans and want to know the procedure?
Due to the simple and hassle-free process, a personal loan has always been a supportive choice for people all around.
Pre-approved loans
- Offered by banks to their existing customers
- Should have a clean credit history
- Bank statement of last 6 months
- Identify proof ( eg. PAN, Ration card, etc.)
With a few documents you can start applying for your personal loan, which are:
- Address proof ( copy of Aadhaar or passport)
- Identification proof ( copy of passport, driving license or Aadhaar card)
- Two latest salary slips / current dated salary certificates with form 16
- Bank statement of the previous 3 months.
The procedure seems simpler, now look for your eligibility.
You can easily apply and take the benefits of an HDFC personal loan for which you must fulfil the following criteria :
- An individual should be between 21-60 year
- He/she should be an employee from a public sector undertaking ( central, state, local), private limited companies.
- Individuals with at least 2 years of employment with a salary of Rs. 15000 per month or more. ( The monthly income criteria varies according to you city of residence.)
It is always a mandatory task to study the personal loan eligibility criteria and terms and conditions following the same properly before you jump to a decision in order to avoid any reason for rejection of your personal loan application.
To make your lives simpler, there are various online sites that help you check your eligibility for the personal loan application by making use of personal loan eligibility calculator.
Concerned about the HDFC personal loan interest rate and EMI, here’s you got all the information for it.
EMI are monthly instalments in the form of money payments that are paid by a customer to the bank to clear the loan.
There are three factors which determine your EMI payments namely;
- Loan amount- Your EMI payments depend on the amount of loan you desire to take, and there exists a direct relation between your loan amount and EMI value i. e Higher the loan amount, the higher will be the EMI.
- Tenure/term period- Higher the tenure of the loan, the lower is the EMI.
- Interest rate
You can also use online EMI calculator to estimate your monthly payments and choose the best fit repayment plan by changing the loan amount and tenure. Personal loan EMI calculator is a very easy to use and user-friendly tool which helps you to calculate your monthly money outlay 24*7. Moreover, It also helps you to compare your EMI payments for different rates of interest offered by different banks.
However, you can also calculate your monthly instalments (EMI) online using the HDFC bank personal loan EMI calculator.
Here you can select your best fit of EMI by changing the loan amount and tenure until you reach your desired choice.
Moreover, HDFC bank offers up-to 40,00,000/- loan amounts with tenure between 12 months to 60 months.
HDFC personal loan is also provided with an option to protect yourself with insurance to secure your personal loan.
Here, you can secure your personal loan with Sarv Suraksha Pro. With key benefits including –
- Credit shield coverage up-to-the outstanding loan amount.
- Accidental disablement or death cover of up to one lakh.
- Accidental hospital coverage of up-to eight lakhs rupees.
With all the necessary information now you are well equipped to check your eligibility and apply for a personal loan.
So the next time your thoughts land on the plane of taking credit, HDFC personal and pre-approved loans facility is always ready to assist you at its best.
* All the personal loan security insurance are entitled with terms and conditions. Individuals are requested to self satisfy themselves before applying.