Why You Should Take HDFC Bank Personal Loan?

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At the decisive stages of life when we lack cash, we demand the personal loan. Because of digitization now we’re able to have it quickly when so many lenders coming online.
But what about the supplementary benefits you can take apart from these personal loans. You might we wonder which bank offer additional benefits or can you really define them as additional benefits? Well, you can, few banks nowadays, provide additional benefits like insurance cover, accidental covers, quick approvals, and minimal documentation on personal loans. 
HDFC Bank offers its loans at the at 10.99% p.a.  interest rate and they are also providing insurance cover and plenty more benefits with its personal loans. To experience more about the benefits, eligibility criteria to avail the personal loan, and most importantly the extra benefit, read this blog.

What do you get when you apply for a personal loan from HDFC Bank?

1.  There is no requirement of collateral
2. You get  Instant approval and next day money transfer
3. You can have a personal loan in brisk time
4. There is a Simplified documentation process
5. You enjoy efficient customer assistance and annoyed-free application process
7. Enjoy the benefit of flexible tenure to repay the loan
8.  You get an attractive interest rate that makes the personal loan affordable

The additional benefit

When you choose HDFC Bank as your lender for the personal loan requirement,
it offers you an additional cover of insurance. These covers work in 2 ways.
a. Personal accident cover: In personal accident cover, you get a
personal accident cover of up to Rs 8 lakhs, and critical illness cover of up to Rs 1 lakh.
To support this cover, a nominal premium is deducted from the loan amount during the loan disbursal.
B. Personal loan security: With personal loan security you can secure personal with Sarv Suraksha pro. It gives you a credit shield cover equal to the remaining loan amount, an accidental hospitalization cover of up to Rs 8 lakh, and accidental death or permanent disablement cover of up to Rs 1 lakh.
Note These insurance cover operated by HDFC Ergo GIC Ltd.

Interest rates, tenure, and loan 
Particulars
Min.
Max.
Amount
Rs 50000
15 lakhs
Rate of interest
10.99% p.a.
21.30% p.a.
Tenure
12 months
60 months

Eligibility criteria

Must be an employee of a private limited company/employee of
PSUs/employee of central government/employee of state government or local bodies
Age
  • Minimum of 21 years
  • Maximum 60 years


Net Salary
Net income of Rs 20000 (for applicants living in Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Cochin)
Net income of Rs 15000 (for the rest of the applicants)
Minimum number of years in the job
2 years
Number of years in the same job
1 year

Documents required

Particulars
Salaried Applicant
ID Proof
Copy of Aadhar/ Driving License/ Passport/ Voters ID
Residence Proof
Copy of Passport/Voter Id/Driving License/Aadhar
Bank statements
Bank statements of the previous 3 months or passbook of the previous 6 months
Income proof
Latest salary slip/current dated salary certificate with the latest form 16
Others
2-3 passport size photographs

HDFC Bank personal loan EMI calculator


Use this free personal loan EMI calculator online calculate monthly EMI, gross interest rate during the entire repayment tenure well in advance. To use this tool simply enter the principal loan amount, desired repayment tenure, and HDFC Bank personal loan interest rate and this will tell you the exact details.
Cashbean

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