HDFC Personal Loan of 2 Lakh

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Kirti Bansal

Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.

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Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

An HDFC Personal Loan of ₹2 Lakhs is a collateral-free personal loan. I.e., you can secure the necessary funds without pledging any of your assets as collateral or security. Moreover, there are no restrictions on using the loan amount, making it a more borrower-friendly financing option. Whether it’s debt consolidation, home renovation, medical emergencies, or anything else, the bank is completely indifferent to the loan purpose. The bank also ensures that eligible candidates can receive the funds in a matter of hours. Typically, you can expect the funds within 4 hours to 4 working days. On the other hand, pre-approved customers will get the funds in just 10 seconds, offering a more hassle-free application process.

2 Lakh Personal Loan HDFC – Highlights

Following are the key parameters of an HDFC personal loan of 2 lakh rupees:

Highlights
Interest Rates	10.50% p.a. onwards
Processing Fees	Up to Rs 4999
Loan Tenure	1 to 6 years
Eligibility	Both salaried and self-employed individuals

2 Lakh Personal Loan EMI for 1- 5 & Years

Let’s take a look at the estimated EMIs for different tenures on an HDFC Personal Loan of ₹2 Lakh:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Interest Payable	Total Amount Payable
₹2 Lakh	10.50% p.a.	1 year	Rs 17,630	Rs 11,557	Rs 2,11,557
₹2 Lakh	10.50% p.a.	2 years	Rs 9,275	Rs 22,605	Rs 2,22,605
₹2 Lakh	10.50% p.a.	3 years	Rs 6,500	Rs 34,018	Rs 2,34,018
₹2 Lakh	10.50% p.a.	4 years	Rs 5,121	Rs 45,792	Rs 2,45,792
₹2 Lakh	10.50% p.a.	5 years	Rs 4,299	Rs 57,927	Rs 2,57,927

Compare 2 Lakh Personal Loan From Other Bank & NBFC

Following is the comparison of HDFC Personal Loan of ₹2 Lakh with other leading banks and NBFCs in India.

Lender	Interest Rate (p.a.)	Processing Fee	Tenure
HDFC Bank	10.50% onwards	Up to Rs 4999	1 to 5 years
Axis Bank	10.49% onwards	Up to 2% of the loan amount	1 to 5 years
ICICI Bank	10.50% onwards	Up to 2.50% of the loan amount	1 to 6 years
IndusInd Bank	10.49% onwards	Up to 2.5% of the loan amount	1 to 5 years
IDFC First Bank	10.49% onwards	Up to 3.49% of the loan amount	1 to 5 years
Federal Bank	10.49% onwards	Up to 3% of the loan amount	1 to 5 years
Kotak Mahindra Bank	10.99% onwards	Up to 3% of the loan amount	1 to 5 years
Bajaj Finserv	11.00% onwards	Up to 3.93% of the loan amount	1 to 8 years
State Bank of India	11.05% onwards	1% of the loan amount	1 to 6 years
Punjab National Bank	11.75% onwards	1% of the loan amount	1 to 6 years

2 Lakh HDFC Home Loan – Fees and Charges

Following are the fees and charges for an HDFC Personal Loan of ₹2 Lakh:

Fee/Charge	Amount
Processing Fee	Up to Rs 4999
Premature Closure Charges (For Full Payment)	1) Up to 24 EMI repayments – 4% of principal outstanding. 2) Post 24 EMI and up to 36 EMI repayments – 3% of principal outstanding. 3) Post 36 EMI repayment – 2% of principal outstanding.
Delayed instalment payment charge	18% annual interest, plus government taxes on overdue instalments amount.
Repayment Mode Swap Charges	Rs 500
Amortisation Schedule Charges / Repayment Schedule Charges	Rs 50/- Per Instance
Stamp Duty & other statutory charges	As per applicable laws of the state
Loan cancellation Charges & Rebooking Charges	Rs 1000/- plus applicable taxes

2 Lakh HDFC Home Loan – Documents Required

₹2 lakh personal loan documents in HDFC are as follows:

Proof of Identity: PAN Card, Passport, Voter ID or Driving License.

Proof of Address: Recent copy of Utility Bills, Passport, Driving License or Aadhaar Card.

Proof of Income: Last 3 months’ bank statement

Proof of Employee: Last 2 months’ salary slips.

2 Lakh HDFC Home Loan – Eligibility Criteria

₹2 lakh personal loan eligibility in HDFC are as follows:

You must be aged between 21 and 60 years
You must have a minimum income of Rs.25,000 per month.
You must have at least 2 years of work experience.
You must have lived in your current residence for at least 1 year.
You must have a good credit score and repayment history.