HDFC Bank Personal Loan

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HDFC Personal Loan
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Introduction

• Low prepayment charges The Bank offers
  prepayment charges as low as 2 on the
  outstanding amount.
• HDFC Personal Loan comes with Zero hidden
  charges, lowest processing fees as compared to
  other products in the market and the available
  repayment options are very flexible and
  convenient.
• HDFC Bank assures all its customers that the
  entire process and procedure of procuring a loan
  from the bank is completely transparent and is
  unbiased.
• The bank offers all its loan without demanding
  any security from the applicant. At any point,
  the customer is under no obligation to provide
  any guarantee or collateral against the amount of
  loan taken from the bank.
• HDFC bank offers a flexible repayment period
  which ranges from 12 to 60 months and comes with
  easy payment options including Post Dated Cheques
  Electronic Clearing System.

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Features Benefits

• Special offers for women HDFC bank offers
  discounted schemes for women under the HDFC
  Personal Loan Diva scheme. Under this
  scheme, HDFC bank offers pre-approved personal
  loans of ? 3 Lakh to women applicants along with
  various premium brands and product offerings from
  the bank.
• Minimal documentation For its existing
  customers, HDFC bank offers a personal with KYC
  documents. However, for new customers, documents
  related to Identity proof, Income statement and
  residential details are required.
• Attractive rate of interest HDFC bank offers
  very competitive interest rates on personal
  loans which are as low as 11.75 per annum for a
  loan of minimum ? 50,000.
• Personal Accident Cover HDFC bank offers a
  unique protection plan as an additional feature
  to its personal loan. An applicant can pay a
  nominal premium and can avail of a Personal
  Accident cover of up to ? 8 Lakh, and also a
  Critical Illness cover of up to ? 1 Lakh. The
  cost or premium for these policies is deducted
  from the loan amount at the time of disbursal.

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Features Benefits

• Personal Loan Security HDFC Bank ensures that an
  applicants best interest is always secure and is
  made sure under its Sarv Suraksha Pro scheme.
  Under this scheme, the key constraints are
• Credit Shield Cover is a contingency cover for
  the outstanding dues equal to the outstanding
  loan amount in case of the sudden death of the
  borrower.
• Accidental Hospitalization cover for the borrower
  of up to ? 8 Lakh.
• Accidental Death/Permanent Disablement cover of
  up to ? 1 Lakh.
• Easy Balance Transfer With HDFC Banks easy
  transfer feature, now you can transfer your
  existing Personal Loan to HDFC Bank. The loan
  comes with a lower EMI option and can also make
  you save on your existing interest payments. The
  rate of interest offered by the bank is as low as
  10.75 on the existing loan transfer and an
  additional processing fee of only ? 1,999/- is
  applicable.

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Eligibility Criteria

• A borrower age should be minimum 21 years and
  maximum 65 years at the time of loan maturity.
• A borrower should have minimum working tenure of
  1 year as Employees of Central/State
  Govt./Autonomous Bodies/Public/Joint Sector
  Undertakings, Public Limited Co./ MNCs
  Educational Institutions.
• Employees of Proprietorship, Partnership firms,
  Private Limited companies, Trust with minimum
  service for 1 year can avail the Bank of Baroda
  personal loan.
• Insurance Agents who doing business at least for
  the last 2 years are considered as eligible for
  the HDFC personal loan.
• A Self-Employed Professionals (Doctor, Engineer,
  Architect, Interior Designers, Tech. and
  Management Consultants, Practicing Company
  secretaries, etc.) with the minimum 1-year stable
  business can acquire HDFC personal loan.

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Documents Required

• Duly signed the application form.
• Passport sized photographs.
• Copy of Identity Proof Passport/PAN Card/Voters
  ID card/Driving License etc.
• Copy of Address Proof Ration card/Driving
  License/Voters ID card/Passport/Telephone
  Bill/Electricity bill.
• Processing fee cheque.
• Banks statement of last 3 months/6 months bank
  passbook.
• For Salaried individuals Latest Salary slip and
  Current dated salary certificate with the
  Form-16.
• For Self-Employed individuals Latest Bank
  statement/ITR or Form-16.

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Interest Rate Charges as per 2020
Interest Rates For Salaried and Self-Employed 10.75 to 21.45
Loan Tenure Up to 60 months
Loan Processing Fee 2.5 of the total loan amount. Minimum ? 1,999/-
Loan Amount Minimum ? 50,000Maximum ? 10 Lakhs
Age Limit 21 to 60 years for Salaried21 to 65 years for Self-Employed
Prepayment charges Within 2 years 4 on the outstanding balanceAfter 3 years 2 on the outstanding balance
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Thank You !!!