Life is full of expenses, and meeting each of them sometimes takes a toll on you. So as a smart way out, you always seek to avail of loans. Now you can call these personal finance loans. They are easy, flexible, and do not come with any burden like you have to look for a guarantor or something.
Talking about the duration, it varies from medium to short term. But there are certain rules and doable that you need to follow, especially when you are trying to get a personal loan from HDFC bank. Hence, you will get a complete heads-up on this at length in this post. Continue reading the same to know useful details to make lending hassle-free.
Pointers to Get a Personal Loan from HDFC
- An individual has to be between 21 to 60 years of age
- The CIBIL score of any person has to be 700 or even more is better
- Talking about employment, both non-salaried and salaried are liable to get a personal loan.
- But HDFC has put a ceiling on the total income, which means monthly income has to be rs 15,000, which is now applicable for nonmetro areas.
- Again people residing in metro cities have to have a monthly income of Rs 25,000 as a minimum amount.
- Now coming to the part where experience matters, the person has to have a stable job, and he or she needs to show three years of continuous service.
Documents to be Submitted to the HDFC bank
Remember, the documents will differ for both the non-salaried and salaried. But yes, below, we have listed some of the common documents for both.
- Firstly need to apply for the loan with the proper information
- Next, need to provide two passport-sized photographs, a PAN Card, an Aadhar Card, the identification card of the employee, an electricity bill, or a phone bill.
- For salaried people, the form 16 of the previous two years and the salary slip that he or she got for the last three months. In addition, the bank statement details for the last 6 months are also important.
- Another thing that HDFC bank demands from the salaried applicant is a certificate of continuity from the company he or she worked with.
Stages of Loan Verification
- The first step is to fill in all the required details in the HDFC bank personal loan application form. You can take the hard copy or fill it out online on their authorized website.
- Otherwise, you can also select any loan approving online portal and do the same through them.
- Once done help desk representative will reach you within one day.
After that, they will fix a day when they will visit your place to collect the documents.
- Now the authorized officer will validate the submitted proofs and check whether the details you have provided are true or not.
- In the end, after the verification, the said loan amount, as per the deed, will be disbursed to your personal savings account.
Thus, the above elaborated are the important facts about the personal loan details that you can avail from HDFC bank. But make sure to check out the penalty and extra amount as mentioned in the agreement.