What Is The Processing Fee For HDFC Personal Loan?

Is insurance mandatory for personal loan in HDFC Bank?


It is not mandatory to take insurance for a personal loan..

How much loan can I get if my salary is 25000?

If your earning Rs. 25,000 per month, your maximum EMI towards a personal loan can be up to Rs. 12,500. Most lenders determine the maximum loan amount up to 10 times of your monthly salary.

How long does it take to get personal loan from HDFC?

Banks generally convey their decision on a loan within 15 days of submitting a loan application. However, some banks also offer instant loan offers, which can be approved within a few hours to 2-3 days. The turnaround time for a HDFC Bank instant loan can be 3 days.

Which type of loan is best?

Most personal loans are unsecured with fixed payments. But there are other types of personal loans, including secured and variable-rate loans. The type of loan that works best for you depends on factors including your credit score and how much time you need to repay the loan.

How much personal loan can I get if my salary is 40000?

If you take a personal loan for a maximum of 5 years, then your loan amount will be ₹ 20,000*12*5 = ₹ 12,00,000. However, the multiplier is 20, then the loan amount will be ₹ 40,000*20 = ₹ 8,00,000. Therefore, the amount you will get on ₹ 40,000 salary is ₹ 8,00,000.

What is the processing fee for personal loan in HDFC Bank?

Personal Loan Interest Rates & FeesFeeAmount to be paidRack interest rateSalaried – 10.75% to 21.30%Loan processing chargesUp to 2.50% of the loan amount subject to a minimum of ₹ 2,999/- & maximum of ₹ 25,000/- for salaried customers16 more rows

What is processing fee for personal loan?

Personal Loan Interest Rate in India Dec 2020Lowest Personal Loan Rate10.40%Processing FeeUpto 2% of loan amountLoan TenureUpto 5 yearsLowest EMI Per Lakh₹ 2,144 for 5 yearsPrepayment ChargesNil to upto 5%

What is the process of personal loan in HDFC Bank?

You can apply for a HDFC Bank Personal Loan online, through an ATM, Loan Assist App or personally at the bank. This process requires minimum documentation. Existing HDFC Bank customers can get a pre-approved loan in just 10 seconds or 4 hours at the most, for non HDFC Bank customers.

What are the hidden charges in personal loan?

Late Payment Charges – This is one of the most common traps that people fall into with personal loans, credit cards and other loan instruments. Late payment fees could be 2-3% of your EMI amount, and you will be charged additional interest on the late fee at a much higher rate than your loan!

Which type of loan is cheapest?

Secured personal loans often come with lower interest rates than unsecured personal loans. That’s because the lender may consider a secured loan to be less risky — there’s an asset backing up your loan.

How much loan can I get if my salary is 15000?

Salary of 15000, Am I eligible for Loan? Check here onlineProductSalaryMin. loan amountPersonal Loan1500040000Home Loan15000300000Car Loan15000100000Credit Card15000

Is Suraksha Loan mandatory?

Home loan insurance is a plan that covers a borrower’s outstanding loan liability to hedge the risk of loss in case he/she dies during the loan re-payment term. … However, an applicant needs to know that it is not mandatory to purchase home loan protection plans to avail of a home loan.