HDFC Personal Loan Interest Rates. Lowest Interest Rates, Calculate Interest Rate and More Details

Updated: May 24,2020 13:08 IST

Naveena

HDFC Personal Loan Interest Rates. Lowest Interest Rates, Calculate Interest Rate and More Details

HDFC Personal Loan Interest Rates are charged upon the Personal Loan you avail with the bank. HDFC Personal Loan Interest Rates are based on various criteria the bank checks and the eligibility of the applicants. Details on HDFC Personal Loan Interest Rates are listed in the content below.

A brief on HDFC Personal Loan Interest Rates

Personal Loans are availed by individuals to meet their needs and can be availed for any personal reasons from medical expenses to buying a new gadget. For any kind of loan availed the bank charges interest rates. Likewise interest rates are charged for any type of HDFC Personal Loan availed by an individual. HDFC Personal Loan Interest Rates and other charges related to the personal loan is explained in the content below. Some of the key details related to HDFC Personal Loan are given in the below table.

Interest Rates

10.75% to 22.00% - for Salaried

Processing Fee

Up to 2.50%

Pre-payment charges

No prepayment charges until 12 EMIs

Charges for late payment of EMI

2% per month on EMI

What is the Interest Rates and Other Charges of HDFC Personal Loan?

Most of the HDFC Personal loans are fixed interest rates. Most of the personal loan schemes fall under the category of fixed interest rates. Interest rates of HDFC Personal loan vary between salaried and self employed people. Some of the extra charges that is associated with HDFC personal loan remain the same for both salaried and self employed applicants. Interest rates and other charges for both salaried and self-employed people are given in the below table.
 

Charges

Salaried applicants

Self-employed applicants

Interest rates

10.75% to 21.50% p.a. 10.75% to 21.50% p.a.

Processing charges

Upto 2.5% of loan amount

  • Minimum - Rs.1000

  • Maximum- Rs.25000

Upto 2.5% of loan amount

  • Minimum - Rs.1000

  • Maximum- Rs.25000

Prepayment charges

Prepayment between

  • 1.1yrs to 2 yrs - 4% of the outstanding amount

  • 2.1yrs to 3 yrs - 3% of the outstanding amount

  • Above 3 years-2% of the outstanding amount

Prepayment possible only after 12 EMI

Prepayment between

  • 1.1yrs to 2 yrs - 4% of the outstanding amount

  • 2.1yrs to 3 yrs - 3% of the outstanding amount

  • Above 3 years-2% of the outstanding amount

Prepayment possible only after 6 months EMI

Late payment charges

24% from date of default

24% from date of default

Stamp duty charges

As per law

As per law

Cheque swapping charges

Rs.500

Rs.500

Amortization schedule charges

Rs.200

Rs.200

Cheque bounce charges

Rs.550

Rs.550

For copy of CIBIL Report charges

Rs.50 per copy

Rs.50 per copy

What are the Factors influencing your HDFC Personal Loan Interest Rates?

There are certain range of interest rates quoted by HDFC for its customers and differs based on various eligibility and factors. Also, the interest rates differs for each individual who is applying for the loan and the bank fixes the interest rate based on many factors. Here are few parameters on which a bank fixes the interest rates on your loan request.

  • Your Credit Score/CIBIL Score - The first thing a bank checks on to fix the interest rates for the loan amount you have quoted for is your credit score. Credit Score of 750-900 is considered to be good range and there are chances of lower interest rates being approved by the bank. It is recommended that you maintain a good credit score.
  • Loan Amount - The loan amount you quote for influences the interest rate. The higher the loan amount there are chances of lower interest rates.
  • Interest Rates - The loan Interest differs based on the fixed or floating interest rate you are opting for.
  • Tenure of the Loan - Bank are ready to provide lower interest rates on longer time period of the loan. 
  • Personal Loan Type - Based on different requirements banks provide different type of home loans and the type of loan you choose determines the interest rate.
  • Relationship with the bank is also considered while deciding interest rates for the individual applicants.
  • Other factors like qualification, years of experience, repayment capacity, etc determines the interest rates. The bank checks on each of the criteria and then fixes the interest rate.

What are the Factors to be Considered by an Individual Before Applying for HDFC Personal Loan?

It is not considered wise by choosing to opt for bank that provides lowest interest rates but one should consider other factors. Sometimes bank gives the lowest interest rates but has other charges like preclosure charges, processing charges at higher rate.Few other factors are to be checked of the bank before proceeding, like customer service, proper document processing, earlier lending history, providing proper documents, etc. After checking these fees and charges related to the personal loan, one has to decide the bank in which to apply for the personal loan and check for the suitable scheme. Then, check your Personal Loan eligibility online or at select branches in just 60 seconds. Once all your papers are submitted, the loan will be disbursed in just one working day. HDFC Bank can customise a Personal Loan for you. Existing HDFC Bank account holders can avail of our special offers, interest rates and charges. First-time Loan customers can also avail of a host of benefits.

More Information on HDFC Personal and its Types

HDFC or Housing Development Financial Corporation is one of the top Indian banking and financial services company with number of services from banking, treasury, loans and credit cards. Of these services, HDFC Personal Loans is one of the top services provided by the bank. HDFC Personal Loans have the quickest turnaround time, hassle-free documentation and transparent processing. With more of advantages, HDFC Personal Loan occupies the best Personal Loan provider.
In any bank, personal loan can be acquired for different needs from purchase of new mobile to medical needs. Likewise, HDFC Personal Loan can be availed for travel, wedding expenses, home renovation, medical emergency, to buy a gadget and many other reasons. HDFC Personal Loan rates differ for Salaried employees and Self-employed applicants. HDFC Bank can also customise your Personal Loan based on your needs. 

Information on HDFC Personal Loan Status

HDFC Personal Loan Status is a very useful feature provided by the bank. HDFC Personal Loan Status can be tracked within few seconds through online method. HDFC Bank has many branches across the country increasing the feasibility for their customers. HDFC Bank is a very familiar bank and meets most of the needs of the customers. HDFC Personal Loan Status can be checked by many methods either through online or offline mode.

How to Check HDFC Personal Loan Status through Online Mode Using HDFC Loan Account?

HDFC Personal Loan Status Check is an uncomplicated process when it is performed through online. Easily check the HDFC Personal Loan Status using the HDFC Loan Account in the HDFC official website. This can be done by signing into the HDFC Loan Account by providing the user id and password. One has to first create an account in the HDFC website. Using this link https://applications.hdfc.com/loanapplication/ one can log into the loan account by providing the password and one can easily manage all the loans. Similarly the HDFC Personal Loan Status can also be tracked by entering the loan application number to view the complete details about the status of the HDFC Personal Loan. 

How to Check HDFC Personal Loan Status through Online Mode Using Reference Number?

The other source to check the HDFC Personal Loan Status is by using the Reference number or the Proposal number. This is very uncomplicated process and most widely used to check the HDFC Personal Loan Status. Follow the below steps to check the  HDFC Personal Loan Status.

  • Visit the HDFC link. https://leads.hdfcbank.com/applications/misc/LST/loantracker.aspx 
  • Enter the Reference Number or the proposal number which is provided while submitting the personal loan application form.
  • Enter the date of birth or mobile number and click “Submit”.
  • The HDFC Personal Loan Status will be displayed with all the details relevant to it.

How to Check HDFC Personal Loan Status through Offline Mode?

HDFC Personal Loan Status can be easily tracked through offline mode. For this purpose one has to visit the HDFC Bank Branch in person. HDFC Bank Branches are available at various locations all over the country. The applicant can approach the executives at the Bank for guidance. To check the HDFC Personal Loan Status, the application name or the application number is to be provided to the executive to track their loan application status.

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HDFC Personal Loan Interest Rates - FAQs

1.

How to close HDFC Bank personal loan before 1 year?

You are eligible for a part or complete foreclosure only after payment of 12 EMIs. You cannot opt for forclosure within the 1st year of your loan disbursal.

2.

Can I get a loan from HDFC bank if I'm not an HDFC bank customer?

Yes. Anyone who fulfills the eligibility criteria of the bank can avail loans from HDFC bank. It is not necessary for you to be an existing customer of HDFC bank. 

3.

How can I track my HDFC Bank personal loan application status?

Once you apply for a loan in HDFC bank, you will be provided with a reference number. You can use this reference number to check your personal loan application status on the official website of the HDFC bank.

4.

How does my CIBIL score determine my loan eligibility?

CIBIL score is also known as the Credit score. Your credit score will provide financial information of an individual to financial institutions which include your creditworthiness. so, if you have a good credit score, you have high chance of availing a loan from any lender.

5.

What is the minimum or maximum amount of personal loan I can avail from HDFC Bank?

HDFC bank offers loans as minimum as Rs. 50,000 to its customers based on their needs and their salaries. It offers a maximum amount of Rs. 15 lakh as a loan depending on their income and their repayment capacity.



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