Are you thinking of travelling the world or planning the perfect wedding? Choose a personal loan to make your dreams come true.
Personal loans have flexible repayment terms and usually do not require any security or collateral.
Here is a five-step guide on how to get a personal loan. From the documents required to how to apply for a personal loan, we have all aspects covered:
Step 1: Determine your requirement
Find out why you need a personal loan and how much amount you need. For instance, you may need a loan to finance your wedding or renovate your home. And you may need just Rs. 1 lakh or Rs. 10 lakh.
Step 2: Check loan eligibility
Once you know how much amount you need, you should check if you are eligible. You can visit the HDFC Bank personal loan eligibility calculator online to know how much you can borrow as a personal loan. HDFC Bank offers loans up to Rs. 40 lakh.
Read more on how to calculate your personal loan EMI and how to reduce it.
Step 3: Calculate monthly installments
Use the online EMI tool to calculate your estimated loan payment every month. You can change the interest rate and tenure to suit your monthly income, like on the HDFC Bank personal loan EMI calculator. HDFC Bank offers pocket-friendly EMIs on all its personal loans starting from Rs. 1878 per lakh* (T&C).
Step 4: Contact the bank
You can apply for a personal loan from HDFC Bank in several different ways: through netbanking, online on the HDFC Bank website, at an ATM, or by visiting a branch.
Step 5: Submit documents
Then find out what documents are required for a personal loan. Generally, you should have proof of income (bank statement, pay slip or IT return), proof of address and proof of ID. Submit copies of your personal loan documents to the bank.
Wait for the money to be transferred to your account. HDFC Bank disburses funds in 10 seconds* for pre-approved loans to customers and in 4 hours* to non-HDFC Bank customers.
How to get a personal loan in 5 easy steps! Now, check out Jio Shaan and make your dreams come true!