HDFC Rs.1 Lakh Personal Loan @10.50%*

Key Features of HDFC 1 Lakh Personal Loan

1. Loan Amount: You can borrow ₹1 lakh from HDFC Bank with flexible repayment terms ranging from 12 to 60 months.

2. Interest Rates: The interest rates for personal loans typically range between 10.50% to 21.00% per annum, depending on factors like your credit score, income, and existing relationship with HDFC.

3. EMI for ₹1 Lakh Loan: For a ₹1 lakh loan with a 12% interest rate over 3 years (36 months), the monthly EMI would be approximately ₹3,321. Use HDFC’s EMI calculator to calculate your exact EMI based on the loan tenure and interest rate.

4. Processing Fee: HDFC Bank charges a processing fee of up to 2.50% of the loan amount, with a minimum of ₹2,999.

5. Quick Disbursal: If all documents are in place and you meet the eligibility criteria, the loan is typically disbursed within 24-48 hours.

6. Prepayment Charges: You can prepay the loan after 12 months. The prepayment fee varies between 2% to 4% on the outstanding principal.

Eligibility Criteria for HDFC 1 Lakh Personal Loan

1. Age: 21 to 60 years for salaried individuals.
2. Income: Minimum net monthly income of ₹25,000.
3. Employment: At least 1 year of employment with the current employer for salaried individuals.
4. Credit Score: A good credit score (typically above 750) increases your chances of loan approval and getting lower interest rates.

Documents Required

• Identity Proof: PAN Card, Aadhaar Card, Passport, etc.
• Address Proof: Utility Bills, Aadhaar, Passport, etc.
• Income Proof: Latest salary slips (last 3 months) for salaried employees, or bank statements and ITR for self-employed.
• Employment Proof: Employment certificate or offer letter.

How to Apply for an HDFC 1 Lakh Personal Loan

You can apply for an HDFC personal loan either online or by visiting the nearest HDFC branch. Online applications are quick, and loan approval and disbursement can happen within 24 hours, provided all documents are verified successfully.

FAQs

1. What is the interest rate for a ₹1 lakh personal loan?
The interest rate ranges between 10.50% to 21.00% per annum, depending on your credit profile and income.

2. What is the EMI for a ₹1 lakh loan?
The EMI depends on the interest rate and tenure. For example, a 12% interest rate over 36 months would result in an EMI of ₹3,321.

3. Can I prepay my ₹1 lakh loan?
Yes, you can prepay after 12 months, but a prepayment fee of 2-4% of the outstanding amount may apply.

4. How long does it take to get a ₹1 lakh loan from HDFC?
HDFC typically disburses the loan amount within 24 to 48 hours after the loan is approved.

5. What are the processing charges for a ₹1 lakh loan?
The processing fee is up to 2.50% of the loan amount (minimum ₹2,999).