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Know everything about HDFC Personal loan

If you are looking for a quick, convenient, and easy personal loan to fulfill all your financial requirements be it travel-related, wedding at your home or any kind of medical emergency then go for HDFC Personal Loan. It also offers personal loans to pre-approved customers in just 10 seconds.  You can apply for HDFC Bank Personal loan via net banking or through any FinTech organization platform at your convenience.

The best part about taking a personal loan from HDFC is that it allows the borrower to choose the re-payment tenure according to its affordability.  The payment of the personal loan is done in the form of equated monthly installments that you can calculate by using an EMI Calculator. This installment amount is calculated using the loan amount, the payment tenure, and the interest rate.

What are the HDFC Personal Loan eligibility criteria to get a personal loan approved?

Age: A person should be between 21 years- 60 years who are willing to apply for a personal loan

Income eligibility: To meet the HDFC Personal loan eligibility, the income should be at least Rs 20, 000 per month.

Fixed Obligation: It is one of the main factors that the HDFC bank considers at the time of approving a loan. HDFC bank considers all the fixed obligations of a borrower such as rent or any kind of loan or credit card dues. The minimum FOIR required to be eligible for a personal loan from HDFC Bank is 0.70.

Credit score: Before giving a loan approval, HDFC Bank does the proper Credit report analysis which provides information related to past running loans and your payment track record on loans and credit cards. Any score above 750 increases the chances that your HDFC loan application is getting approved.

Advantages of taking HDFC Personal Loan

Hassle-Free Process: Online you can apply for an HDFC Bank Personal Loan, through an ATM, Loan Assist App, or personally at the bank. This process requires minimum documentation.

 Pre-approved loan offers: All existing HDFC bank customers can avail of the benefits of a pre-approved loan in just 10 seconds or 4 hours at the most, for non-HDFC Bank customers.

You can apply for a loan with HDFC for any reason such as pursuing an e-vocational course, medical emergency, home renovation, or travel.

Collateral free loan: No security or collateral is required for a Personal Loan. Minimum documentation is needed to get a personal loan approved. All required ID proof, address proof, and income proof which can be your PAN and Aadhaar Card.

Easy Personal Loan Balance transfer

You can easily choose a personal loan balance transfer option; you can transfer your existing Personal Loan to HDFC Bank. It makes you enjoy lower EMIs and SAVE on your interest payments.

The process to apply and check the HDFC personal loan status

Online on any of the lender’s sites, mobile app, or via a bank portal, you can apply for a personal loan. All you need to fill a personal loan online application form, choose the loan amount as per your eligibility. After checking your eligibility and EMI calculation, start filling the form, upload the scanned documents, and post verification of the document, the loan will get disbursed in a few hours.

 There are mainly two ways to check the HDFC personal loan status:

  1. HDFC Bank Personal Loan Customer Care

A person can check the loan status by calling the number 1860 267 6161/6160 6161 for any financial queries including Personal Loan.

  1. Via Net Banking

If you are an existing customer, you have an added benefit.  You can easily apply and check your loan status on the et banking portal. All you need to do is log in to your net banking portal and click the loans section. Here you can apply, check or know the balance on the loan you apply for.

Bottom Line

I hope the above information would help you to understand every aspect of the HDFC Personal loan; its features, eligibility, or the process to apply.

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