Established in August 1994, HDFC Bank has grown to be one of the leading private sector banks in India. With 4,281 branches spread over 2,587 cities; HDFC takes pride in servicing a customer base of about 4 crore. Its ATM network of 12,000 machines gives it an edge in servicing the customers round the clock. What is distinct about the bank is that 55% of its branches are located in semi urban and rural locations.
HDFC is one of the leading banks with a massive asset book. The personal loan portfolio of the bank stands at Rs 41,000.
|Rack interest rate||Salaried - 15.75% to 20%|
|Loan processing charges||Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 25000/- for Salaried Customers.|
|Prepayment||Salaried - No pre-payment permitted until repayment of 12 EMIs|
|Pre-payment charges||Salaried - 13-24 Months - 4% of Principal Outstanding, 25-36 Months - 3% of Principal Outstanding >36 Months - 2% of Principal Outstanding|
|Charges for late payment of EMI||24% per annum on amount outstanding from date of default|
|Cheque swapping charges||Rs 500/-|
|Amortization Schedule charges||Rs 200/-|
|Loan cancellation charges||NIL (However interest would be charged for the interim period between date of loan disbursal and loan cancellation and processing fees would be retained.)|
|Cheque bounce charges||Rs. 550/- per cheque bounce|
|Legal/incidental charges||At actual|
|CIBIL Report Copy Charges||Rs.50 per copy|
You need to collect the following documents while making an application for a personal loan
Voter ID Card
Valid Driving Licence
Latest salary slip/current dated salary certificate with the latest Form 16
Three months bank statement
Six months pass book
Telephone or electricity bill
Rental agreement passport
Hassle free experience with on the most trusted names in banking. HDFC is known for be steadfast and surefooted and is growing its retail loan portfolio on the back of over 40% growth in personal loans. Customers are satisfied because on an average a personal loan (if the eligibility criteria is met) is disbursed within 2 to 3 days if applied offline without the requirement of any guarantor.