HDFC Personal Loan of 3 Lakh

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Hepson Franklin

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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.

The HDFC Bank personal loan of 3 lakh enjoys wide popularity among home loan borrowers. Although the loan is famous for providing ready financial assistance, borrowers also prefer it for its flexible mode of repayment. The loan can be comfortably repaid in Equated Monthly Instalments (EMIs).

3 lakh personal loan EMIs are influenced by loan tenure and interest rates. At present, the HDFC Bank’s 3 lakh loan interest rate starts at 10.50% p.a. Further, high loan tenures imply small monthly repayments and vice versa.

HDFC Bank 3 Lakh Personal Loan – Highlights

An instant 3 lakh loan from HDFC Bank is available at the following terms.

Loan Amount	3 lakh
Maximum Loan Tenure	Up to 6 years
Rate of Interest (p.a.)	10.50%-25.00% p.a.
Pre-approved Loans	Available
Collateral Requirement	NIL

3 Lakh Personal Loan EMI for 6 Years

Here is the complete EMI schedule for up to 6 years of loan tenure. The calculations are based on the starting HDFC 3 lakh loan interest rate of 10.50% p.a.

Loan Tenure	Loan Amount	Interest Rate (p.a.)	EMI
1 Year	3 lakh	10.50%	₹26,445
2 Years	3 lakh	10.50%	₹13,913
3 Years	3 lakh	10.50%	₹9,751
4 Years	3 lakh	10.50%	₹7,681
5 Years	3 lakh	10.50%	₹6,448
6 Years	3 lakh	10.50%	₹5,634

Comparing HDFC 3 Lakh Personal Loan With Other Lenders

The housing loan market is a highly competitive one. The table below showcases how the HDFC Bank personal loan of 3 lakhs compares with other banks and NBFCs.

Bank Name	Maximum Loan Tenure	Interest Rate (p.a.)
KreditBee	Two years	16% onwards
L&T Finance	Four years	12% onwards
State Bank of India	Six years	10.55% onwards
Axis Bank	Seven years	10.49% onwards
ICICI Bank	Seven years	10.50% onwards

HDFC Bank 3 Lakh Personal Loan – Fees and Charges

Apart from the 3 lakh loan interest rate, borrowers are required to pay the following additional fees and charges over the loan:

A processing fee of up to ₹4,999
An 18% Goods and Services Tax (GST)
Other charges like document verification charges and stamp duty charges

HDFC Bank 3 Lakh Personal Loan – Documents Required

The 3 lakh personal loan documents for HDFC Bank customers are listed below:

Duly filled loan application form
ID Proof: Aadhar Card/ Voter’s ID/ Driver’s License/ Valid Passport
Address Proof: Utility Bills/ Aadhar Card/ Voter ID/ Other documents
Income Proof: Latest salary slips/ Balance Sheet and P&L account

HDFC Bank 3 Lakh Personal Loan – Eligibility Criteria

The 3 lakh personal loan eligibility for HDFC Bank customers is as follows:

Eligible Candidates: Salaried Employees/ Self-Employed Individuals/ Government Employees
Age Limit: 21-60 years
Minimum Work Experience: 2 years in total; 1 year at the current organisation
Minimum Monthly Income: ₹25,000
Resident Type: Resident Indians