Do HDFC Bank Personal Loan Eligibility Have An Impact On Interest Rate?

HDFC Bank has a set criteria for the borrowers on loans. And it is important to meet the loan eligibility criteria for a good rate of interest and instant approval. Especially, if you want a personal loan. HDFC Bank charges an interest rate from 10.75% to 22.00%. You must want the interest rate in the range of 10.75% and to do so you have to meet HDFC Bank personal loan eligibility criteria. Read this article and know about the eligibility of HDFC personal loan.

Does age come under HDFC Bank personal loan eligibility criteria?

Yes, the age of the borrower matters because following that HDFC Bank checks the interest rate, you are eligible to pay in loan tenure. You get a maximum repayment duration of 5 years on HDFC personal loan and the age criteria for the loan is 21 to 60 years. That simply suggests that before reaching an age above which there is less source of income, you must repay the loan. 

HDFC Bank personal loan eligibility criteria for the age simply drives you to the next criteria, that is income. Your income should be INR 15,000 per month if you don’t live in metro cities such as Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Cochin, etc. Otherwise, INR 20,000 is the preferred income for the HDFC loan.

Was there any benefit of being an HDFC customer!

You are a beneficial customer if you have a relation with the HDFC bank. The benefit is that you can check for the pre-approved offers and get the loan instant approval. HDFC Bank personal loan eligibility criteria remain the same for every customer. So if you are an HDFC customer you also have to check the eligibility using the online calculator. With the help of the calculator, the borrower can estimate the loan amount he/she can borrow from the bank.

Because if you apply for a high loan amount beyond your eligibility then there are chances that the application would be rejected. And probably if the loan gets approval you must be charged with a high rate of interest on it. So you must check the HDFC bank personal loan eligibility before applying. 

Apply for HDFC Bank personal loan!

To get your loan from the bank first you need to apply for it. And the application procedure is available both online and offline. So you can use the HDFC net banking services or visit the nearest branch. The documents which are required for the loan are ID proof, income proof and address details. And after submission of all the documents pay a processing fee that is up to 2.50% of your loan with the applicable GST on it. Get the desired rate of interest with HDFC personal loan eligibility and meet your needs without any trouble. Make payment for the loan in equated monthly installments via your HDFC or any other bank account. To do timely EMIs for the loan use ECS and PDCs services.

So, never avoid the loan eligibility to get easy sanction, instant approval and healthy credit history.