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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 |
|
Salary | Minimum net monthly income of ₹40,000 |
Credit Score | Minimum credit score of 650 |
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