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HDFC Bank Personal Loan - Frequently Asked Questions (FAQ)

Frequently Asked Questions for HDFC Bank Personal Loan

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LoanMoney has given some of the basic and the major concerns which applicants have when they apply for an Axis Bank Personal loan through LoanMoney. Quick Form for Personal Loan in Delhi NCR Click here

Have a Question regarding Personal Loans? Check out Frequently Asked Questions about Personal Loans. Find the answers to all your Personal Loan queries and Get your clarification right here.

How long can I take to repay my HDFC Bank Personal Loan?
HDFC Bank Personal Loan offers flexible repayment options ranging from 12 to 60 months, depending on the customers profile.

How much can I borrow HDFC Bank Personal Loan through LoanMoney?
You can take a loan ranging from Rs. 50,000 to Rs. 15, 00,000, depending on your income and repayment capacity. You can club your spouses income if you want to get a bigger loan..

How can I repay my HDFC Bank Personal Loan through LoanMoney?
You pay the loan in equal monthly instalments (EMIs). The loan will be paid through post-dated cheques. You can also pay through ECS or a standing instruction to debit your HDFC Bank Bank account with the EMI amount. Try LoanMoney for EMI calculator to calculate how much you need to pay each month.

What are the loan tenure options for Professionals Loan?
You can repay your loan over a period of 12 to 60 months

How is my loan eligibility calculated?
Loan eligibility is dependent on primarily the following factors:

  1. The company where you work. Every bank has a list of companies running into thousands which they have categorised into segments like A, B, C etc depending on the credentials and financials of your employer. The higher the category the higher is the loan eligibility chances.
  2. Quantum of loans and credit card outstanding that you already have. Typically a bank will not give a loan if the total EMI obligation (including the current Personal Loan that your are trying to apply for) exceeds 50-75% of your total net take home salary.
  3. Your gross/net salary
  4. Your credit score as reflected in your CIBIL or Equifax report. Having a good credit score is a necessary but not a sufficient criteria.

Documents required while applying for a HDFC Bank Personal Loan?
One need to provide an identity proof, residence proof, last 3 months salary slip, last 6 months bank statement and a passport sized photograph. HDFC Bank Banks may also ask for additional documents later like Form 16, appointment letter, company ID card, previous company relieving letter

Is part-prepayment of a Personal Loan allowed?
No, part prepayment is not allowed. The loan has to either be prepaid in full or serviced for the contracted tenure. Quick Form for Personal Loan in Delhi NCR Click here

How does a Salary Account help me get a HDFC Bank Personal Loan?
You get a preferential rate of interest and processing fee, speedy processing and minimal documentation if you have a Salary Account with HDFC Bank Bank. This is taken into account at the time of disbursal of the loan. You can pay through a Standing Instruction to debit your HDFC Bank Bank account with the EMI amount.

Do I need to provide any security or collateral to obtain HDFC Bank Personal Loan from HDFC Bank Bank?
No you dont have to provide any security, collateral or guarantee to obtain HDFC Bank Personal Loan from HDFC Bank Bank.

What is De-pledge?
Removal of a pledge from the security to regain the rights over the security is called de-pledge.

What is Guarantor?
A Guarantor is a person who guarantees to pay for someone else's debt if he or she should default on a loan obligation.

What is Amortization?
Amortization is paying off debts in regular instalments over a period of time.

What is Pledge?
A right over the security is created in favour of HDFC Bank Bank. Hence shares cannot be transferred or sold by the customer or shareholder.

What is RTGS?
RTGS is the Real Time Gross Settlement which is used for the transfer of amounts of Rs. 1,00,000 or more from one bank account to another bank account (any bank located anywhere in India if attached with an Internet system) at very minimal charges. The amount is credited into the beneficiary's account in real time. For amounts less than Rs. 1, 00,000 we use NEFT (National Electronic Fund Transfer).

What is NEFT?
The National Electronic Funds Transfer (NEFT) system is a nation-wide funds transfer system to facilitate transfer of funds from any bank branch to any other bank branch. Quick Form for Personal Loan in Delhi NCR Click here

HDFC Bank Personal Loan in Delhi/NCR through LoanMoney

What happens if I miss an EMI payment or there is an ECS bounce?
The bank will levy certain ECS bounce charges/penalties. In addition it will get reported in your credit report. Depending on the severity of the default it can have serious impact on your future credit possibilities like a home loan, car loan etc. In addition, the banks can also take legal action against the borrower.

How can I change the mode of repayment/ account for my loan?
In the event that you wish to change the mode of repayment/bank account for your loan repayment, you may visit the nearest theRetail Loan Service Centreand submit your request with the revised account mandate/instructions.

How can I get my address changed in my loan account?

  • In order to change your address in our records, you may visit the nearestRetail Loan Service Center and submit the following documents:
  • Request form for Address Change.
  • Self Attested copy of your revised address proof along with the original address proof for validation.
  • In case a bearer submits the request on your behalf, a bearer authorisation along with KYC documents (self attested copy and original for validation) of the bearer, i.e. Identity and Signature Proof like PAN Card, Aadhar Card, Driving License or Passport Copy will also need to be provided.

How do I obtain a Duplicate Repayment Schedule for my loan account?
You may obtain a Duplicate Repayment Schedule for your loan account, free of charge by registering for our Net Banking facility on www.hdfcbank.com and download the repayment schedule for your linked loan account.
Alternatively, you may visit the nearestRetail Loan Service Centreand submit the following documents

  • Request form for Duplicate Repayment Schedule.
  • Duplicate Repayment Schedule Charges of Rs.200/- favouring "HDFC Bank Ltd Loan Account No."
  • In case a bearer submits the request on your behalf, a bearer authorisation along with KYC documents(self attested copy and original for validation) of the bearer, i.e. Identity and Signature Proof like PAN Card, Aadhar Card, Driving License or Passport Copy will also need to be provided. Quick Form for Personal Loan in Delhi NCR Click here

What are the charges I have to pay to change the mode of repayment/ account for my loan?
A service charge of Rs.500 is applicable for changes in loan repayment instructions issued from non-HDFC Bank Account (ECS or PDC facility). A cheque /pay order/demand draft for Rs. 500 favouring HDFC Bank Ltd Loan Account No. will be required along with the revised set of repayment instructions.

Are there any additional charges for loan repayment?
The additional charges (if any) are applicable in case you default or in case of SWAP (i.e. change the repayment mode). The charges are updated and can be viewed in theFees Chargessection in the Banks website of each loan product.

How long will it take for my Personal Loan to be processed?
Once you submit your application form and the required documents as per Bank's criteria, you can expect our approval and disbursal within 5 working days, provided everything is in order. All loan approvals are at the sole discretion of the bank.

What is the minimum and maximum amount of Personal Loan that I can get with HDFC Bank?
HDFC Bank offers personal loan after considering the monthly income and other liabilities of the applicant. Personal loans are available from a minimum limit of Rs. 50,000 to a maximum of Rs. 15 Lakhs depending on the repayment history and personal financial credentials of the individual borrower.

What is the tenure for which I can avail a Personal loan with HDFC Bank?
HDFC Bank offers a tenure period of 12 to 60 months for salaried individuals and 12 to 36 months for self employed individuals and working professionals. The bank can however expand the tenure up to 60 months for self employed people in some cases.

What is the process of checking application status online?
You can check the status of your application online on the official website of the bank if you have applied directly with the bank. You can track the application status on the portal on entering a few details as required.

What are the limits of the loan amount?
HDFC Bank offers personal loans from as low as Rs.50,000 to as high as Rs.15 lakhs. The amount of loan disbursed depends on multiple criteria such as credit history, age, other credits etc.

How long can I borrow a loan for?
The loan tenure depends on the category of borrowers. Salaried individuals can opt for a repayment tenure anywhere between 12 months and 60 months. Self-employed individuals are eligible for repayment tenures ranging from 12 months to 36 months.

What are the income proof documents I have to submit while applying for the loan?
You need to submit the following documents while applying for HDFC personal loan. Quick Form for Personal Loan in Delhi NCR Click here

  • Latest salary slip or recent salary certificate with Form 16
  • Bank statements of the past 3 months or 6 months passbook entries

Apart from these, you also need to submit an identity proof and address proof from the list of accepted documents.

What are the processing charges I have to pay when applying for this loan?
You need to pay processing charge of up to 2.50% of the overall loan amount. This is subject to a minimum amount of Rs.1,000 and maximum amount of Rs.25,000 for salaried individuals.

Where can I get the personal loan application form?
You can download the application form online or directly apply online by filling up the form and uploading supporting documents. Alternatively, you may approach any of the HDFC Bank branches and request for a loan application form.

What is the foreclosure criteria?
Salaried individuals cannot prepay their loans within the first 12 EMI payments. They can prepay the loan after this period by paying the following penalties:

  • Loan preclosure within 13 to 24 months will attract prepayment charges at 4% of outstanding principal balance.
  • Loan preclosure within 25 to 36 months will attract prepayment charges at 3% of outstanding principal balance.
  • Loan preclosure after 36 months will attract prepayment charges at 2% of outstanding principal balance. Quick Form for Personal Loan in Delhi NCR Click here

Loan from HDFC Bank in Delhi NCR

HDFC Bank personal loans can help meet all your financial needs effectively. With simplified documentation and speedy approvals, availing personal loans couldn’t get easier. Whatever be your need HDFC have a loan for you. Over the years HDFC Bank have won the trust of customers and have become market leaders in loan products. Read more...

HDFC Bank Personal Loan in Delhi NCR

HDFC Bank personal loans can help meet all your financial needs effectively. With simplified documentation and speedy approvals, availing personal loans couldn’t get easier. Whatever be your need HDFC have a loan for you. Over the years HDFC Bank have won the trust of customers and have become market leaders in loan products. Read more...

Features & Benefits for HDFC Bank Personal Loan in Delhi NCR through LoanMoney

HDFC Personal Loans are great when it comes to dealing with life’s financial challenges. There are number of times when you need quick money for a number of reasons, it could be a medical emergency, or an urgent housing renovation, a foreign holiday, a family wedding or any other such thing. Getting HDFC Bank Personal Loan not only helps you get by, quick repayment of it improves your credit score thus enabling you to take bigger help next time, in case the need arrives. Read more...

Know more about HDFC Bank Personal Loan in Delhi NCR

Eligibility & Documentation for HDFC Bank Personal Loan in Delhi NCR through LoanMoney

Learn more about the eligibility criteria andthe documents required for availing a HDFC Bank personal loan. The documentation for a HDFC Bank personal loan varies from individual to individual. The requirements are based on your profession, income and loan requirement. Read more...

Fees and Charges for HDFC Bank Personal Loan in Delhi NCR through LoanMoney

HDFC Personal Loan interest rates is one of the first parameters that one considers along with other value adds like pre-closure options, part payments etc. Interest rates are the rate at which the bank is willing to lend money to you which in turn is their source of income. Let us have a basic understanding of how Personal Loan interest rates are calculated. Read more...

Frequently Asked Questions for HDFC Bank Personal Loan in Delhi NCR through LoanMoney

Have a Question regarding Personal Loans? Check out Frequently Asked Questions about Personal Loans. Find the answers to all your Personal Loan queries and Get your clarification right here. Read more...

Apply for Personal Loan, Home Loan, Business Loan & Loan Against Property in Delhi NCR through LoanMoney

Home Loan in Delhi NCR through LoanMoney

Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements. You often renovate your home to suit your changing needs. This loan can be used to carry out repairs / improvements within your existing owned residential properties.

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Personal Loan in Delhi NCR through LoanMoney

Personal loans are taken primarily for fulfilling your personal aspirations such as vacation, a perfect wedding, home renovation or a much desired gadget. In addition to being relatively easy to apply for, personal loans are unsecured loans which means that you don't need any collateral to take this loan. They are one of the simplest form of loans with customer-friendly repayment terms.

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Loan Against Property in Delhi NCR through LoanMoney

A sudden requirement of funds is an unavoidable circumstance of business or personal life. Whether a personal necessity (hospitalization, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments.
In this context, it is pertinent to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinizing the validity of the said property and its current market value.

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Business Loan in Delhi NCR through LoanMoney

Running a business is not easy. You have to constantly think of ways and means to keep it going and growing. As a part of the growth plan, you require financing for expanding operations or to buy new equipment or inventory or simply increase the working capital. To help you with your financing needs we offer Business Loans that will help your business grow.

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Why choose LoanMoney for taking Personal Loan in Delhi NCR

  • Easily Available: - Personal Loans are offered at reasonable interest rates and it is easy and convenient to get Personal Loan from in comparison to Personal Loans from other Banks or NBFCs.
  • No Agent or Middleman Charges: - In order to get Personal Loan, you do not have to pay any agent or middleman charges. LoanMoney as your Loan Agency help you avoid unnecessary delays and expenses. You can directly approach the LoanMoney for Personal Loan for the immediate financial need. Quick Form for Personal Loan in Delhi NCR Click here
  • Unsecured Loan: - Personal Loan is an unsecured loan. There is no collateral security required in order to get this Personal Loan. All that is required is your ability to pay back the money. You are not required to mortgage any of your assets or provide for any kind of guarantee.
  • Less Processing Time: - LoanMoney guarantees that the processing time involved in getting  Personal Loan is very less.
  • All Purpose Loan: - Personal Loans is such where it is not mandatory for you to specify the cause for which you are to use the money. You can use the amount credited in your name for any purpose.
  • Minimum Paperwork: - LoanMoney ensures that getting a Personal Loan does not require verification of any asset or any other kind of proofs and certificates that involve a lot of paperwork.
  • Schemes and Offers: - LoanMoney keeps you updated with special schemes and offers of  Personal Loans for professionals like Chartered Accountants, Doctors and Architects etc.
  • Amount and Tenure: - Personal Loans are offered ranging from Rs15K to Rs 20 lakh. The repayment can be made through EMIs which is an option available. Loans tenure may depend upon the amount borrowed and may be from 12 months to 60 months. LoanMoney advices its customer to opt for  Personal Loan instead of going for borrowing cash from credit card as the interest rate is comparatively low for Personal Loan. Quick Form for Personal Loan in Delhi NCR Click here

LoanMoney will get you an approval in quickest possible time. All you need to do is visit LoanMoney.in and fill an enquiry form. You can also drop a mail to info@LoanMoney.in or call to +91-8130 222 111. A LoanMoney representative will get in touch with you and collect your documents from your doorstep.

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It is a type of unsecured loan and helps to meet your current financial needs. You don't need any security/collateral while availing it. Personal Loan is your solution for instant cash and can be used for travelling, wedding, medical emergency, home renovation, or anything else.

 

Home Loan is a Secured loan offered against the security of a house/property which is funded by the banks and NBFCs the property could be a personal property or a commercial one. Home loans consist of an adjustable or fixed interest rate and payment terms.

 

Loan Against Property belongs to the secured loan category where the borrower gives a guarantee by using his property as security. Banks and financial institutions offer this LAP, which can either be a residential/commercial building or a piece of land.

 

A Business Loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. Banks and other financial institutions are there to provide you with suitable lending assistance.

Different Purposes for Personal Loan through LoanMoney

Marriages are made in heaven and its celebration is one of the happiest and memorable events for married couples and their families. Wedding loan is available to people looking to meet their wedding expenses in order to make the wedding a grand success.
Debt consolidation/ Financial Restructuring is a process to streamline one’s financial stability and debt. Thus by consolidating many small debts with one debt, one gets favourable payment off terms and lower burden of EMI.
Home is the place where your story generates. Home Renovation Loans are designed for the purpose of renovating a house and can be taken by a person who owns the property to be renovated.
A Medical Loan is extended by a bank or a financial institution under the category of personal loans. A medical loan can be used for multiple emergency purposes such as an operation, surgery, procedure, therapy or for any concern related to health.
The Education Loanaims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad. Students enrolled in career-oriented courses e.g. medicine, engineering, management etc, can avail this.
Balance transfer is the process where a customer transfers his outstanding principal amount to another bank or financial institute primarily for a better rate of interest and also for better features. Balance transfer reduces your interest rates and finally ensure saving.
Travel loan is a kind of Personal Loan that you can apply while planning a travel. It can help to cover the costs associated with your holiday, such as airfares, accommodation, hotel fares, tour packages, travel gears/accessories, or any other type of expenses associated with your travel.
The Credit Card Payment Loan is designed to allow you to take control of your finances and pay your credit cards off faster. This is made possible by consolidating your high-interest card balances into one monthly payment at a fixed rate and term.

Disclaimer: LoanMoney is not a Loan Providing Organization. We are facilitating the Loan Process from various Banks & NBFC. The rate, eligibility criteria, term & conditions of various banks are subject to change as per bank discretion. We try our best to keep the data up-to-date, but we can't guarantee the accuracy of data provided in this site. LoanMoney help you to embark on your dream at the right time with many Banks/NBFC's Loan opportunities available! Follow a few simple steps to help LoanMoney team understand your requirements.

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