HDFC Bank offers marriage loan of upto Rs. 40 lakh with no specific restriction on how to use the funds. You can use HDFC Bank Marriage Loan to pay for your wedding’s venue, outfit, accommodation for guests, catering, makeup artists or any other marriage expenses and can repay it easily within flexible tenure ranging from 12 to 60 months.
HDFC Bank Marriage Loan – Features
- Online application: HDFC Bank has simplified the online marriage loan application process and allows you to apply for the loan in just a few clicks
- Quick approval and disbursal: If you meet the eligibility criteria and submit the necessary documents, you get a quick approval on your marriage loan. Also, if you have a pre-approved loan offer from HDFC Bank, you get funds instantly
- Minimum documentation: To apply for HDFC Marriage Loan, you need to upload only a few documents online including your identity proof, address proof and income proof
- Flexible tenure: You can repay HDFC Marriage Loan as per your convenience within tenure ranging from 12 to 60 months
The interest rate of HDFC Marriage Loan starts from 10.25% and goes upto 21%. The interest rate offered to an individual by the bank depends on his credit score, age, employment, repayment history, etc.
- You should be a salaried doctor, CA, employee of private limited companies, employee from public sector undertakings including central, state and local bodies
- You should be at least 21 years and your maximum age should be 60 years
- You should have at least 2 years of minimum work experience and you should be working with your current employer for at least a year
- Your minimum monthly income should be Rs. 15,000 and if you are living in Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Pune, Ahmedabad, Kolkata and Cochin then it should be Rs. 20,000
- Proof of Identity: Copy of Passport/Voter Id/Aadhaar/Driving License
- Proof of Address: Copy of Aadhaar/Voter ID/Driving License/Passport
- Last three month’s Bank Statement or last 6 month’s Bank Passbook
- Latest Salary Slip/current dated salary certificate with the latest form 16
How to Apply for HDFC Bank Marriage Loan?
The most convenient way to apply for HDFC Bank Marriage Loan is through Paisabazaar.com, which is India’s No. 1 lending platform. All you need to do is to fill your personal details, check your eligibility and process your marriage loan application.
Q. What is the processing fee of HDFC Bank Marriage Loan?
Ans. The processing fee is up to 2.50% of the loan amount subject to a minimum of Rs. 2,999 and maximum of Rs. 25,000 for salaried customers.
Q. How can I apply for HDFC Bank Marriage Loan Offline?
Ans. You can visit the nearest branch of the bank to apply for the loan offline.
Q. Can I make a part-payment?
Ans. Yes, if you have booked a loan on or after April 1, 2018, you can close the loan in part after completing the 12th EMI.
- Part payment is only allowed twice during loan tenure
- Part payment is allowed once in a single financial year
- Each of the part payments should not exceed 25% of principal outstanding