Is your son or daughter interested in studying abroad? If so, they will have saved a fortune for educational purposes. If not, HDFC Personal Loans will help you with this. The bank does not require any security for the loan. So if you don’t have valuables or assets to mortgage, you don’t have to worry about applying for a loan. The loan can be repaid in equal installments until the child completes his/her studies. The borrower has a maximum term of 5 years. The interest rate starts at 10.25% per annum. Continue reading this article and know more about HDFC personal loan.
How much money can I borrow from HDFC Bank?
You can borrow up to Rs 40 lakh from HDFC Bank, which is limited based on your repayment capacity. So if you can buy EMI under a قرض 4 million loan, then you can go for it. An HDFC personal loan requires a minimum of Rs 25,000 per month. If you meet the income requirement, your loan application will go very smoothly. Otherwise, the bank may reject your application and notify you by text message or email.
What compels you to study abroad?
Yes, it is the cost of accommodation, flights, admissions, books, etc. that will lead to education abroad. And if they have saved or invested, you can. But if not, you can take a personal loan from HDFC to help your children pursue education abroad. Existing customers of the bank can apply for an online loan and receive money in just 10 seconds. New customers receive payment within four working days after submitting payment documents.
When will you start paying your HDFC personal loans?
You can start paying back from the date specified in your loan documents. Choose ECS for hassle-free payments. It is an online payment service that automatically deducts EMIs from your bank account. So don’t keep a record of due dates as ECS takes care of it. Just report to HDFC Bank. On receipt of such request, the bank will launch ECS in your respective account. Now just make sure you maintain a minimum balance in your account. Because if the balance is less than the EMI amount, the amount you have to pay will increase and the penalty will be higher. You will be notified by registered mobile or email.
Is there a resource that can help you?
Yes, HDFC EMI personal loan calculator. You can use it to find your payment plan. With this data you have to choose the EMI and interest payment period. Consider the following example and understand how payments spread. Kamaya, who works in the steel industry, earns Sh45,000 a month. As soon as your child completes 10 + 2, you need a lump sum for education. He chose HDFC Private Loan from the available options. But before proceeding further with the application, the EMI calculator is used. It gives details like loan amount of Rs 5 lakh, interest rate of 13.00% and tenure of 4 years. The calculator also produces an EMI of Rs 13,414. And this kind of HDFC personal loan MI calculator is affordable for them as go through the online application and get the loan amount.
How can I get HDFC personal loan?
To apply for a loan, please visit HDFC Bank official website or nearest branch office. Make sure that getting a loan that helps your kids get an education as well as making payments is hassle-free. It’s about finding a balance between passion and financial independence.