| 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 |
HDFC Bank 20 Lakh Personal Loan
Calculate EMI for ₹20 Lakh Loan
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HDFC Bank 20 Lakh Personal Loan- Highlights
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 |
|
| 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:
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Documents Required for Personal Loan Application of Rs 20 Lakh from HDFC Bank
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 |
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FAQs
At what interest rates can I avail a 20 lakh personal loan from HDFC Bank?
You can avail a 20 lakh personal loan from HDFC Bank at interest rates starting from 9.99% p.a. onwards.
What is the interest cost for HDFC Bank 20 lakh personal loan for a tenure of 5 years?
The interest cost for HDFC Bank 20 lakh personal loan for a tenure of 5 years would be Rs 5,49,055.
At what minimum credit score can I avail a 20 lakh personal loan from HDFC Bank?
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.
What is the EMI of 20 lakh personal loan from HDFC Bank for a tenure of 3 years?
The EMI of 20 lakh personal loan from HDFC Bank for a tenure of 3 years would be Rs 64,525.
Personal Loan Articles
View All ArticlesPaisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.
The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.
The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.
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