How HDFC Bank Personal Loan Interest Rates Charged?

The bank offers a maximum loan amount of INR 15 lakh to customers, using which they get the source of money to manage their debts. Not only debts, but also medical emergencies for which you are not secured yet. If you are a salaried individual and have a minimum income of INR 15,000-20,000 per month, you can get a personal loan from HDFC Bank. Read the given article and know HDFC Bank personal loan interest rates and its effect on your loan payments. 

Ways to get perfect HDFC Bank personal loan interest rates!

HDFC Bank provides personal loans to the customers at a starting interest rate of 10.75% per annum, and it is up to 21.30% depending on the user loan eligibility and other factors. Those factors are mentioned below, have a look at them and use it to get a convincing interest rate.

Credit Score: There is a slight chance that HDFC Bank would consider your credit score and improve your loan interest rate. Because new customers do not have to show their credit score as it will be zero. The reason it is zero is because, if the person doesn’t borrow a loan or any type of banking product its credit history remains null. Otherwise, a person with a credit score of 700-750 is considered by the bank to negotiate for HDFC Bank personal loan interest rate.

Income source: As mentioned, the user needs to have a regular income for HDFC personal loan. This is because there is no asset mortgage against the loan amount, and the only source of the payment is your income. So, if you don't pay the EMI for a month a charge of INR 550 is needed to be paid along with the next EMI.

Need of Fund: If your need for fund is completed and you met with a good fiscal year and think of closing HDFC personal loan, then it is the best idea. Because this is the only way you can get rid of HDFC bank personal loan interest rates.

How EMI calculator helped me with HDFC Bank personal loan interest rates?

Most of the users do not pay attention to the EMI calculator which was present at top of the HDFC personal loan page. And, if you remember it, you must know that it is for your benefit only so that you can know the EMI of your HDFC Bank personal loan. The user can also have the amortization schedule of his loan from HDFC Bank at INR 200 payment. In which the HDFC Bank personal loan interest rate charged to your EMI is mentioned. 

Now, always make use of these features of HDFC Bank when you borrow a loan from it. Because it helps in making your loan experience with the bank easier and comfortable. Or for the payment of loans choose suitable methods such as ECS, PDCs or auto-debit. And, easily avoid the financial situations you find hard to solve with HDFC Bank personal loan. Take a suitable tenor from 12 to 60 months for loan payment and pre-pay or close whenever you need to otherwise, HDFC Bank personal loan interest rates can be managed with EMI calculator.