HDFC Personal Loan of 40000

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Amrita Sinha

Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal 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 40000 is a readily available loan that offers a flexible financial cushion to meet your diverse needs. With attractive interest rates, a convenient application process, and flexible repayment options, the instant 40000 loan HDFC scheme empowers you to take control of your finances and achieve your aspirations. With its benefits and convenient features, the HDFC Personal Loan of INR 40,000 is a reliable financial partner. This scheme is here to assist you in navigating unforeseen expenses, achieving your personal goals, and managing your finances efficiently.

40000 Personal Loan HDFC – Highlights

Here is all you need to know about your HDFC Personal Loan of 40000.

Feature	Description
Interest Rate	10.50% p.a. Onwards
Loan Amount	₹50,000 to ₹25 lakhs
Tenure	12 to 84 months
Any Hidden Charges	No

40000 Personal Loan EMI for 5 Years

The table below showcases the 40000 personal loan EMI if you take the loan for 5 years with an interest rate of 10.50%.

Month	Beginning Loan Balance	EMI	Principal	Monthly Interest	Outstanding Balance
1	₹ 40000	₹ 860	₹ 510	₹ 350	₹ 39490
12	₹ 34141	₹ 860	₹ 561	₹ 299	₹ 33580
24	₹ 27075	₹ 860	₹ 623	₹ 237	₹ 26452
36	₹ 19230	₹ 860	₹ 691	₹ 168	₹ 18539
48	₹ 10521	₹ 860	₹ 768	₹ 92	₹ 9753
60	₹ 852	₹ 860	₹ 852	₹ 7	₹ 0

40000 Personal Loan EMI for 10 Years

The table below will give you an insight on the 40000 personal loan EMI if you take the loan for 10 years with an interest rate of 10.50%.

Month	Beginning Loan Balance	EMI	Principal	Monthly Interest	Outstanding Balance
1	₹ 40000	₹ 540	₹ 190	₹ 350	₹ 39810
12	₹ 37819	₹ 540	₹ 209	₹ 331	₹ 37610
24	₹ 35189	₹ 540	₹ 232	₹ 308	₹ 34957
36	₹ 32269	₹ 540	₹ 257	₹ 282	₹ 32012
48	₹ 29027	₹ 540	₹ 286	₹ 254	₹ 28742
60	₹ 25429	₹ 540	₹ 317	₹ 222	₹ 25111
72	₹ 21433	₹ 540	₹ 352	₹ 188	₹ 21081
84	₹ 16997	₹ 540	₹ 391	₹ 149	₹ 16606
96	₹ 12072	₹ 540	₹ 434	₹ 106	₹ 11638
108	₹ 6605	₹ 540	₹ 482	₹ 58	₹ 6123
120	₹ 535	₹ 540	₹ 535	₹ 5	₹ 0

Comparing 40000 Personal Loan from other Banks & NBFCs

Feature	HDFC Bank	SBI	ICICI Bank	Axis Bank	Bajaj Finance
Interest Rate (5 years)	10.50% p.a.	9.60% p.a.	9.75% p.a.	10.50% p.a.	10.99% p.a. onwards
Interest Rate (10 years)	10.50% p.a.	9.70% p.a.	9.85% p.a.	10.75% p.a.	11.24% p.a. onwards

40000 HDFC Home Loan – Fees and Charges

If you want to know what charges and fees you need to pay off for availing of the 40000 personal loan from HDFC, here is a detailed list to help you manage your budget effectively.

Fee/Charge	Description
Processing Fee	Up to 2.5% of the loan amount
Foreclosure Charges	2% of the outstanding loan amount
Late Payment Charges	2% of the overdue instalment

40000 HDFC home loan – Documents Required

To apply for a 40000 personal loan from HDFC Bank, do keep in your conscience to keep these documents ready:

Identity proof: PAN card, Aadhaar card, or voter’s ID
Address proof: Electricity bill, rental agreement, or bank statement
Income proof: Salary slips for the last three months or ITR
Bank statement: Copy of bank statements for the previous six months
Employment proof: Appointment letter for salary certificate

To ensure a smooth application procedure for an instant 40000 loan from HDFC, kindly ensure that all documents are clear, legible, and self-attested.

40000 HDFC Home Loan – Eligibility Criteria

HDFC has given certain parameters to avail of 40000 personal loans as the eligibility criteria. The table below elucidates the requirements in detail.

Criteria	Requirement
Age	21 to 60 years
Employment	Employees of private limited companies. Employees from public sector undertakings and central, state and local bodies.
Salary	Minimum net monthly income of ₹40,000
Credit Score	Minimum credit score of 650