HDFC Rs.2 Lakh Personal Loan @10.50%*

Features of HDFC 2 Lakh Personal Loan

1. Loan Amount:
   HDFC Bank offers personal loans ranging from ₹50,000 to ₹40 lakhs. In this case, the loan amount is ₹2 lakhs.

2. Interest Rates:
   The interest rates for HDFC personal loans generally range between 10.50% to 21.00% per annum. Your exact interest rate depends on factors like your credit score, income, and employment stability.

3. EMI Calculation for ₹2 Lakh Loan:
   If you take a ₹2 lakh loan at an interest rate of 12% for a tenure of 3 years (36 months), your monthly EMI would be approximately ₹6,642. You can use HDFC’s Personal Loan EMI Calculator to determine the exact EMI based on different interest rates and tenures.

4. Flexible Tenure:
   HDFC offers flexible loan tenure ranging from 12 months to 60 months, allowing you to choose a repayment period that suits your financial situation.

5. Processing Fee:
   The processing fee for HDFC personal loans is up to 2.50% of the loan amount (minimum ₹2,999).

6. Quick Disbursal:
   Once your loan is approved, HDFC Bank typically disburses the loan amount within 24 to 48 hours.

7. Prepayment Charges:
   You can prepay your loan after 12 months. Prepayment charges are typically 2% to 4% of the outstanding principal.

Eligibility Criteria for HDFC ₹2 Lakh Personal Loan

To be eligible for a ₹2 lakh personal loan from HDFC, applicants must meet the following criteria:

• Age: Applicants must be between 21 to 60 years.
• Income: A minimum net monthly income of ₹25,000 is required for salaried individuals.
• Employment Stability: Salaried individuals should have at least 1 year of work experience and at least 6 months with the current employer.
• Credit Score: A good credit score (generally 750 and above) is important for securing a loan at favorable interest rates.

Documents Required for HDFC 2 Lakh Personal Loan

To apply for a ₹2 lakh personal loan, you will need the following documents:

• Identity Proof: PAN Card, Aadhaar Card, Passport, etc.
• Address Proof: Utility Bills, Aadhaar, Passport, etc.
• Income Proof: Latest salary slips (last 3 months), bank statements (last 3-6 months), and Form 16 (if applicable).
• Employment Proof: Employment certificate or offer letter.
• Recent Passport-Sized Photographs.

How to Apply for HDFC ₹2 Lakh Personal Loan

You can apply for the loan either online or by visiting the nearest HDFC Bank branch. The online application process is simple, and you can expect quick approval and disbursement if all documents are verified successfully.

FAQs About HDFC ₹2 Lakh Personal Loan

1. What is the EMI for a ₹2 lakh personal loan?
   The EMI for a ₹2 lakh loan depends on the interest rate and tenure. For example, a loan at 12% interest over 36 months would have an EMI of around ₹6,642.

2. What is the interest rate for a ₹2 lakh personal loan?
   HDFC personal loan interest rates range between 10.50% to 21.00% per annum. The actual rate depends on your credit score and income.

3. What are the prepayment charges?
   HDFC allows prepayment of personal loans after 12 months, with a prepayment charge of 2-4% on the outstanding principal.

4. How long does it take to get the loan approved?
   HDFC typically approves and disburses loans within 24 to 48 hours after verifying all the required documents.

5. Can I get a lower interest rate if I am an existing HDFC Bank customer?
   Yes, HDFC Bank often offers preferential interest rates to existing customers, especially those with salary accounts or a strong credit history.