HDFC Personal Loan

Features:

·          Hassle free loan as no guarantor/security/collateral is required.

·          Flexible repayment period ranging from 12 to 60 months.

·          Special privileges are given to existing customer like document waiver etc.

·          Personal Accident Cover of Rs. 2 lakh is provided at a nominal premium.

·          Loan Amount: Max up to Rs 15 lakh.

Eligibility:

·          Salaried individual includes salaried Doctors, CAs, Public and Private ltd companies employees, Government Sector employees including PSU’s ,Central, State or Local bodies, with a minimum age:21 years, maximum age at maturiy:60 years having a minimum  total experience of 2 years & 1 year in same company. Minimum net monthly income is Rs. 10,000 (Rs. 15,000 in Mumbai, Delhi, Bangalore, Chennai and Hyderabad & Rs. 12,000 in Calcutta, Ahmedabad and Cochin)

·          Self-employed (Professionals) includes self-employed Doctors, CAs, Architect, Company secretaries, with a minimum age: 25 years, maximum age at maturity:65 years having experience of 4 to 7 years. Minimum Annual Income: Rs 1 Lakh p.a.

·          Self-employed (Individuals) includes Proprietors, Partners & Directors in business of manufacturing, trading or services with minimum age:21 years, maximum age at maturity:65 years having a minimum of 3 years’ experience in current business & 5 years as total business experience. Minimum Annual Income: Rs 1 Lakh p.a.     

·          Self-employed(Private companies &Partnership firms) includes private companies & partnership firms in business of manufacturing, trading or services making profits from last 2 years & experience of at least 3 years. Minimum Annual Income: Rs 1 Lakh p.a.

Charges:

·          Loan processing charges: Up to 2.5% of loan amount ,Min of Rs. 1000/-

·          Prepayment charges: For salaried 4% of principal outstanding after a repayment of 12 EMIs For self-employed 4% of principal outstanding after a repayment of 6 EMIs.

·          Duplicate certificate/NOC:Rs. 250/-

·          Late payment charges: @ 24% p.a. on amount outstanding from date of default.

·          Loan cancellation charges: Rs. 1000/-

·          Cheque Bounce Charges: Rs. 450/- per cheque bounce

·          Cheque swapping charges: Rs 500/- per event

·          Loan Re-booking/Re-scheduling :Rs 1000/-

Interest Rates:

·          For salaried-15.5% to 22%

·          For self-employed businessmen-17.5% to 22%

·          For self-employed profession-14.5% to 15%

Salaried Individuals

• Application form with recent photograph
• Latest salary slip or current dated salary certificate with latest Form 16
• Bank statement for last 3 months/passbook for past 6 months
• Proof of Identity (any one): Passport/Driving licence/Photo credit card/Employee licence/Voter's ID/PAN card
• Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill

Self Employed

• Application form with recent photograph
• IT returns for last 2 years
• Bank statement/passbook for last 6 months
• Proof of Identity (any one): Passport/Driving licence/Photo credit card/Employee licence/Voter's ID/PAN card
• Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
• P&L and Balance Sheet for last 2 years certified/audited by CA
• Qualification proof of the highest professional degree
• Proof of Continuation (Trade licence /Establishment/Sales Tax certificate)