Available upto Rs. 40 lakh, HDFC Bank Personal Loan is offered to salaried professionals meeting the eligibility criteria. Whether it is an emergency or you wish to fulfil a dream, you can avail instant funds if you apply for HDFC Bank Personal Loan. Also, you can easily repay the loan maximum by 60 months and can also foreclose it before the tenure ends.
HDFC Bank Personal Loan- Preclosure Charges and Other Fees
(on Principal Outstanding) /Part Payment Charges
[on Part Payment amount]
|Salaried – 13-24 Months – 4% of Principal Outstanding,|
25-36 Months – 3% of Principal Outstanding
>36 Months – 2% of Principal Outstanding
|Prepayment in Part or full||Salaried – No pre-payment in part or full permitted until repayment of 12 EMIs|
Part Payment allowed up to 25% of Principal Outstanding. It is allowed only once in a financial year and twice during Loan tenure.
|Loan processing charges||Up to 2.50% of the loan amount subject to a minimum of Rs. 2,999/- & Maximum of Rs. 25000/- for Salaried Customers.|
|Overdue EMI Interest||2% per month on EMI / Principal overdue|
|Stamp duty & other statutory charges||As per applicable laws of the state|
|Cheque swapping charges||Rs 500/-|
|Amortization Schedule charges||Rs 200/-|
|Loan cancellation charges||NIL (However client would be charged interest for the interim period between date of loan disbursement and loan cancellation and processing fees would be retained.)|
|Cheque bounce charges||Rs. 550/- per cheque bounce|
|Legal/incidental charges||At actual|
How to Preclose HDFC Bank Personal Loan?
You can foreclose your HDFC Bank Personal Loan only after paying the 12th EMI. Follow the below mentioned steps to foreclose the loan:
- Contact the customer care of the bank on 61606161 or 6160616 or visit the nearest branch of the bank
- You will have to make the pre- payment that would include the outstanding loan amount along with the foreclosure charges by releasing a cheque or demand draft in the name of HDFC Bank
Please note that the bank will not accept cash above Rs. 49,000 for loan repayment against part prepayment/ full payment / matured loan closure payment. Therefore, any payment above Rs. 49000 should be made via Account payee Cheque / Pay order /Demand draft.
Frequently Asked Questions
What is the purpose of obtaining a NOC once the loan closure is completed?
The need for NOC from the bank post the completion of the loan closure procedure is quite important. It serves as a legal proof that the personal loan has been successfully closed.
What is the duration under which a pre-closure confirmation is received?
Generally, it takes close to 15 working days for acquiring a pre-closure confirmation.
Why is my loan amount termed as ‘settled but not closed’?
If you see that your loan account is highlighted as ‘settled but not closed’, then you should verify with the bank for such an action. In case you haven’t paid the entire amount, then the lender might have taken such an action. Do cross check with the lender in order to gain a clear picture.
What is the interest rate of HDFC Bank Personal Loan?
The interest rate of HDFC Bank Personal Loan starts from 11.25%.
What is the minimum and maximum personal loan amount that I can avail from HDFC Bank?
The minimum personal loan amount is Rs. 50,000 and the maximum loan amount is Rs. 40 lakh.