Personal Loans India : Personal Loans from HDFC Bank for your personal needs
Personal loans are truly multi-purpose loans. Such loans take care of your financial needs – as strange as buying a leopard or as mundane as purchasing regular store items. Different types of personal loans are available for different situations. You can apply for such loans whenever you need money. Most people take this option because personal loans are easily accessible and quickly dispersible. Both homeowners and tenants can take recourse to these loans in times of need.Information about Personal Loans from HDFC Bank is given here………
Personal Loans from HDFC Bank
Features & Benefits
Borrow up to Rs 10,00,000 for any purpose depending on your requirements.
Flexible Repayment options, ranging from 12 to 48 months.
Repay with easy EMIs.
One of the lowest interest rates.
Hassle free loans – No guarantor/security/collateral required.
Speedy loan approval.
Convenience of service at your doorstep.
Customer privileges# If you are an HDFC Bank account holder, HDFC Bank have special rates for their existing customers.
# If you are an existing Auto Loan customer with a clear repayment of 12 months or more from any of HDFC approved financiers or HDFC Bank, you can get a hassle free personal loan (without income documentation).
# If you are an existing HDFC Bank Personal Loan customer with a clear repayment of 12 months or more,HDFC Bank can Top-Up your personal loan.
Credit Shield
In case of death or total permanent disability of the loanee,the loanee/nominee can avail of the Payment Protection Insurance (Credit Shield) which insures the principle outstandings on the loan upto a maximum of the loan amount.Principle outstanding is defined as the amount of loan outstanding (not including any arrears in payment or interest thereon) at the Date of Loss,having accounted for payments made and interest accruing as determined in the Policy. Hence,the amount covered does not include any principal added because of non – payment of EMI and also will not include interest/ accrued charges.Personal Accident Cover
In order to ensure that your family is taken care of we also offer a Personal Accident cover of Rs.2,00,000 at a nominal premium.** Premium will be charged for both these products which will be deducted from the loan amount at the time of disbursal .A transaction fee of Rs.350 will also be deducted at the time of disbursal.Pls note that service tax @ 12.36% will also be charged.
Documentations
Salaried Individuals include Salaried Doctors, CAs, employees of select Public and Private limited companies, Government Sector employees including public sector undertakings and central, state and local bodies:
Eligibility Criteria
* Minimum age of Applicant: 21 years
* Maximum age of Applicant at loan maturity: 60 years
* Minimum employment: Minimum 2 years in employment and minimum 1 year in the current organization
* Minimum Net Monthly Income: Rs. 7,000 p.m (Rs. 6,000 in select cities)Documents required:
* Proof of Identity (Passport Copy/ Voters ID card/ Driving Licence)
* Address Proof (Ration card Tel/Elect. Bill/ Rental agr. / Passport copy/Trade licence /Est./Sales Tax certificate)
* Bank Statements (latest 3 months bank statement / 6 months bank passbook)
* Latest salary slip or current dated salary certificate with latest Form 16Are you Eligible for a Personal Loan? See our Eligibilty calculator.
TopSelf employed (Professionals) include self – employed Doctors, Chartered Accountants, Engineers, MBA Consultants, Architects, Company Secretaries.
Eligibility Criteria
* Minimum age of Applicant: 25 years
* Maximum age of Applicant at loan maturity: 65 years
* Years in business: Minimum 3 years in current business and 5 years total business experience
* Minimum Annual Income:
Rs 60000 p.a. taxable income for Doctors and CAs
Rs 100,000 p.a. taxable income for Engineers, MBA Consultants, Architects, CS.Documents required:
* Proof of Identity (Passport Copy/ Voters ID card/ Driving Licence).
* Address Proof (Ration card Tel/elect. Bill/ Rental agr. / Passport copy/Trade licence /Est./Sales Tax certificate).
* Bank Statements(latest 6 months bank statement /passbook)
* Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
* Qualification proof of the highest professional degreeAre you Eligible for a Personal Loan? See our Eligibilty calculator.
TopSelf Employed (Individuals) include self-employed – Sole proprietors, Partners & Directors in the Business of Manufacturing, Trading or Services.
Eligibility Criteria
* Minimum age of Applicant: 21 years
* Maximum age of Applicant at loan maturity: 65 years
* Years in business: 5 yrs continuous business experience
* Minimum Annual Income: Rs. 1,00,000 p.a.
* Available in select citiesDocuments required:
* Proof of Identity (Passport Copy/ Voters ID card/ Driving Licence)
* Address Proof (Ration card Tel/elect. Bill/ Rental agr. / Passport copy/Trade licence /Est./Sales Tax certificate)
* Bank Statements(latest 6 months bank statement /passbook)
* Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
* Proof of continuation (Trade licence /Establishment /Sales Tax certificate)
* Other Mandatory Documents(Sole Prop. Decl. Or Cert. Copy of Partnership Deed,Cert. Copy of MOA, AOA & Board resolution.)Self Employed (Pvt Cos and Partnership Firms) include Private Companies and Partnership firms in the Business of Manufacturing, Trading or Services
Eligibility Criteria
* Years in business: Minimum of 3 years in current business and 5 years total business experience
* Business must be profit making for the last 2 years
* Minimum Annual Income: Rs 100000 p.a.
* Available in select citiesDocuments required:
* Address Proof (Ration card Tel/elect. Bill/ Rental agr. / Passport copy/Trade licence /Est./Sales Tax certificate)
* Bank Statements(latest 6 months bank statement /passbook)
* Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
* Proof of continuation (Trade licence /Establishment /Sales Tax certificate)
* Other Mandatory Documents (Sole Prop. Decl. Or Cert. Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original).)Charges for Personal Loan
Loan Processing Charges Upto a maximum 2% of the loan amount
Pre-payment charges Upto 4% of the Principal Outstanding
No Due Certificate / No Objection Certificate (NOC) Nil
Solvency Certificate Not applicable
Charges for late payment of EMI @ 24 % p.a on amount outstanding from date of default
Charges for changing from fixed to floating rate of interest Not applicable
Charges for changing from floating to fixed rate of interest Not applicable
Stamp Duty & other statutory charges As per applicable laws of the state
Credit assessment charges Not applicable
Non standard repayment charges Not applicable
Cheque swapping charges Upto Rs 500/- per event
Loan cancellation / re-booking charges / Re-scheduling Upto Rs 1000/-
Bounce Cheque Charges Upto Rs 450/- per Bouncing
Statement Charges (per statement)/ Repayment Schedule Upto Rs 500/-
Legal / incidental charges At actual
Sources : http://www.hdfcbank.com/