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HDFC Bank 20 Lakh Personal Loan

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee₹ 6,500
Axis Bank
Low Processing fee
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max Loan Amt.Upto ₹25L
Rate of Interest9.98% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%

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How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

HDFC Bank 20 Lakh Personal Loan- Highlights

Interest Rate 9.99%-12.50% p.a.
Loan Tenure Up to 5 years
Processing Fee Rs 3,499-Rs 6,500
EMI/NMI ratio 50-55%
Minimum CIBIL Score 650
Collateral Collateral-free loans with no end-usage restrictions
Usage For personal purposes including wedding, travel, medical emergency, home renovation, etc., except for speculation

Interest Rates of HDFC Bank Personal Loan for Rs 20 Lakh

HDFC Bank personal loan interest rates start from 9.99% p.a. onwards. Lenders usually set their personal loan interest rates based on the credit score, monthly income, job profile, loan types, etc. of the applicants. Below-mentioned is the interest rate range of HDFC Bank Personal Loan of Rs 20 lakh.

Minimum Interest Rate 9.99% p.a.
Maximum Interest Rate 12.50% p.a.

HDFC Bank Personal Loan 20 Lakh Personal Loan- Fees and Charges

Particulars Charges
Processing Fees Rs 3,499-Rs 6,500
Prepayment Fees
  • 4% of outstanding principal (Up to 24 EMIs)
  • 3% of the outstanding principal (24-36 EMIs)
  • 2% of the outstanding principal (Above 36 EMIs)
Repayment Mode Change Charges Rs 500
Payment Return Charges Rs 450
Amortization Schedule Charges Rs 50 per schedule

Who Can Avail a Personal Loan of Rs 20 Lakh from HDFC Bank

The following people are eligible of applying for personal loan of Rs 20 lakh from HDFC Bank:

  • Age should be between 21 to 60 years
  • Employees of private limited companies and public sector undertakings
  • Total work experience of atleast 2 years with a minimum experience of 1 year with the current employer.
  • EMI/NMI ratio of 50-55% including the existing EMIs and EMIs of the proposed personal loan.

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Documents Required for Personal Loan Application of Rs 20 Lakh from HDFC Bank

  • KYC documents
  • Bank statement for last 3 months
  • Salary slip for last 3 months
  • No documentation required in case of pre-approved personal loans

How Can You Calculate the EMI of a 20 Lakh Personal Loan

You can calculate the EMI of a 20 lakh personal loan using a personal loan EMI calculator available online. All you need to do is enter the loan amount, interest rate, and loan tenure in the EMI calculator and get results instantly. Thus, you can plan your budget before taking a loan and take informed decisions.

EMI Calculation for Different Loan Tenures-

Loan Amount (Rs) Loan Tenure Interest Rate (p.a.) EMI (Rs)
20,00,000 1 years 9.99% 1,75,822
20,00,000 2 years 9.99% 92,281
20,00,000 3 years 9.99% 64,525
20,00,000 4 years 9.99% 50,716
20,00,000 5 years 9.99% 42,484

Swipe to see more table data

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Explore Our Personal Loan Lenders

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FAQs

You can avail a 20 lakh personal loan from HDFC Bank at interest rates starting from 9.99% p.a. onwards.

The  interest cost for HDFC Bank 20 lakh personal loan for a tenure of 5 years would be Rs 5,49,055.

Applicants having a credit score of 720 and above usually have higher chances of availing 20 lakh personal loan from HDFC Bank at lower interest rates.

The EMI of 20 lakh personal loan from HDFC Bank for a tenure of 3 years would be Rs 64,525.

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