If you or your loved ones are admitted to the hospital and lack money for paying the bills, apply for HDFC Personal Loan. It is the easiest solution for your financial needs. And in case of an emergency like hospital bill payment, this is the best option for you. The loan is disbursed in 10 seconds to your account if you are a pre-approved customer. Otherwise, you will receive the money in two to three working days. For more information on the HDFC Personal Loan keep reading this page.
Does the HDFC Personal Loan Help Meet the Medical Bills?
Yes, the bank provides an amount up to INR 40 Lakh to the customers. So if you are worried about whether the bank will be able to lend you a huge amount, don’t be. Just assure your income is capable enough to cover the EMI payments. Because if the EMI and NMI ratio is passed, you can easily get the loan amount disbursed.
For an HDFC Personal Loan, you need to meet the below needs –
To qualify for an HDFC Personal Loan you need a monthly income of INR 25,000. So if you meet this income requirement of the bank, you could get a loan from the bank. As this is an unsecured loan, so your income is the only source by which the bank will get its money. This is why your loan application might get rejected if you don’t meet the eligibility criteria.
So do check the same before you proceed with the loan application. Because a rejected loan will look bad on your credit record.
If you haven’t borrowed a loan before or had a credit card, this term may be new to you. Well, a credit score depicts the record of your loan and credit card repayment in a numeric form. So if you check the score and see it is 700 or more, it means you have a good record and this will help you get the loan from the bank. Because an applicant with a good repayment history is less likely to non-pay.
What is the HDFC Interest Rate for Personal Loans?
The bank starting rate is 10.25% per annum. And you can avail of this starting rate if you prove your loan repayment capacity. One with a good repayment capacity will get to negotiate with the bank on the interest rate. And do you know a lower rate of interest will help you in the repayment? This will not burden you and the loan will be easily paid off.
Check out the keys to get the lowest HDFC Personal Loan Interest Rate –
- Jointly borrowing the loan
If you borrow this loan with your spouse or parent, the loan is jointly borrowed. It means both you and the co-borrower are liable for the payment. In case you are not able to pay off the loan due to job loss or any reason, the co-borrower will complete the payment for you.
- Good credit score
As you have learned from the above how the credit score plays an important role in the loan application. But do you know using this you can get a lower interest rate? Well, by showing your impeccable record of repayment you can convince the lender to reduce the rate of interest.
- High income
When the applicant’s income is enough to afford the amount without any trouble, your loan rate can be adjusted. Because there is less risk of non-payment. And if you are an existing customer, you might even get a pre-approved offer from the bank. To check the same login to your account and see whether you are eligible for this or not. And if you are, confirm the offer and get the money in ten seconds. This way you can get the loan amount at a lower HDFC Personal Loan Interest Rate. So apply now.