How a HDFC Bank Personal Loan is beneficial for you?

HDFC Bank personal loan 2021 with minimum documentation and quick approvals, making it simple for people to get money when they need it. You can avail the maximum loan amount up to Rs. 25 lakhs that you can repay over a period of 12 to 60 months. 

 Features of HDFC Bank Personal Loan 

• HDFC Bank personal loan 2021 amounts ranging from Rs. 1 lakh to Rs. 25 lakhs. 
• A tenure that can be changed: Individuals can choose between 12 and 60 months for their HDFC Bank personal loan, depending on their repayment ability. 
• Personal loan applications from HDFC Bank require minimum documentation, making them quick and easy to complete. 
• Personal Loan Security: Sarv Suraksha Pro can be used to acquire a personal loan from HDFC Bank. The advantages are as follows: 
• Accidental Death/Permanent Disablement insurance of up to Rs. 1 lakh. 
• Credit Shield Cover equal to the outstanding loan amount 
• Loans for Individuals Transferring the Balance: Low and improved interest rates can be obtained by shifting your existing personal loan to HDFC Bank. The following are some of the advantages of transferring a personal loan balance: 
• On the existing loan amount transferred, interest rates as low as 12.50 percent are available. 
• There is a one-time processing cost of Rs. 1999. 
• HDFC Bank provides insurance coverage: If you have a personal loan with HDFC Bank, you can get the following benefits: 
• Personal Accident Insurance with a limit of Rs. 8 lakhs and for a little fee, you can get critical sickness coverage up to Rs. 1 lakh. 
• At the time of disbursement, the premiums for these plans will be deducted from the loan amount. 

Interest Rates on HDFC Personal Loans 

The interest rate on a personal loan issued by HDFC Bank starts at 12.50 percent per annum. However, the interest rate charged on a personal loan is determined by a number of factors, including the borrower's credit score, age, occupation, repayment history, and current debt. 

Criteria for Eligibility 

• You must be a salaried doctor, a chartered accountant, a private limited company employee, or a public sector employee from the federal, state, or local government. 
• You must be at least 21 years old and no older than 60 years old. 
• You should have a minimum of two years of work experience and stay with your present workplace for at least one year. 
• Your monthly income should be at least Rs. 25,000. 

Documents Needed to Apply for a Loan 

• Proof of identity: A copy of your passport, voter ID card, driver's license, or Aadhaar card 
• Proof of address: A copy of your passport, voter ID card, driver's license, or Aadhaar Bank statement from the preceding three months is required (Passbook of previous 6 months) 
• Two most recent pay stubs/currently dated pay certificates, along with the most recent Form 16 

How to apply for HDFC Bank Personal Loan? 

• Fill out the online form on Afinoz with important information such as your income, the quantity of money you need, your locality, and your phone number. 
• Examine offers from several banks, which are graded according to the likelihood of approval. 
• Choose your preferred lender or contact Afinoz for help. 
• Submit your application, and it will be delivered to the lender of your choice. 

• Upload papers and set up a time for them to be picked up. 
• The bank's management will make a verification call. 
• Approval and payment 
• Learn everything there is to know about HDFC Bank's Instant Personal Loan. 

Why Apply for a Personal Loan with Afinoz?  

• Top Lender Offers: Afinoz has worked with over 40 banks, NBFCs, and fintech to provide you the finest loan offers from a variety of lenders in one spot. 
• With the click of a few buttons on Afinoz, you can review and compare personal loan offers from India's major banks, NBFCs, and fintech on your screen. 
• Customized solutions and assurance of approval: Personal loan offers will be ranked according to your credit score and other eligibility variables on Afinoz. This will assist you in selecting the best offer and provide you with the assurance that your loan will be approved. 
• Loans that have been pre-approved: Once you've joined the Afinoz ecosystem, you'll occasionally receive personalized pre-approved personal loan offers based on your credit score. Low processing costs, low-interest rates, and very no documentation are all features of these loans. 
• Unbiased Advice: If you have any questions or require assistance, Afinoz's team of professionals will walk you through each stage, coordinate with lending banks/NBFCs, and assist you in obtaining the best personal loan for your needs. 
• Afinoz.com, as a digital-only company, offers you totally digital processes that allow you to obtain personal loans from the comfort of your own home with minimal to no paperwork and a wholly digital experience. 
• Afinoz staff will pick up documents from your home/office on a mutually agreed date and time after you apply for the loan if physical paperwork is required. You won't have to go to the lender to submit your documentation since Afinoz will take care of everything for you — for free. 
• End-to-end Team Afinoz remains with you and works in the background with the lenders to give you a fantastic experience, from browsing for a loan option to receiving the sanctioned loan amount in your bank account. 

Important Things to Think About When Getting a Personal Loan  

• Loan Amount: The less you borrow, the more readily and conveniently you will be able to repay it. Remember to borrow just what you can afford to repay, as borrowing more than you can repay might lead to debt traps. 
• Credit score: Your credit score is based on your payback history for loans and credit cards. As a result, having a good credit score can help you get approved for a personal loan. 
• Interest Rates and Interest Payout: Interest rates affect your monthly payment. As a result, in order to have reasonable EMIs, you must choose a bank with the lowest interest rate. On Afinoz, you may compare interest rates from numerous banks. 
• Keep in mind, however, that a longer-term will result in a greater interest payment throughout the life of the loan. 
• Other costs and fees: Aside from the interest rate, a personal loan comes with a slew of other fees and taxes. Processing costs, late payment fees, foreclosure charges, part prepayment fees, and so on are examples of these. To avoid any future surprises, it's crucial to ask your lender about all of these fees. 

Conclusion: 

To conclude, HDFC Bank offers various loan schemes includes HDFC Doctor Loan and others. You can get the best loan options of HDFC personal loans from Afinoz as well.