HDB Financial Services is one among the leading non-banking finance companies (NBFCs) busy providing a bundle of joy to people through its customized products and services. Among its offerings, a private loan may be a customer’s favourite due to the convenience at which it gets disbursed into the account. With doorstep service, speedy processing and hassle-free documentation, HDB Financial Services consumer loan is playing its role as a dream enabler to a T.
HDB consumer loan rate of interest Based on the loan amount, tenure, and therefore the credit history of a private, HDB sets the rate of interest on a private loan. The rate of interest here can thus be customized to suit the very needs of the purchasers. So if you are feeling for your pocket, do negotiate with the lender to ease the rates, which might not only reduce the quantity of monthly instalment but also curtail the quantity of interest that you simply would otherwise find yourself paying over the loan tenure. the most important point on which you'll negotiate better maybe a high CIBIL Score that comes with a disciplined repayment of loan EMIs or MasterCard dues. What About Processing Fee & Other Charges? Yes, the nondepository financial institution does charge processing fee and a couple of others on its consumer loan offers. The processing fee is often 3% of the loan amount. On the opposite hand, once you prepay the loan, a charge at 2%-4% of the outstanding principal amount is going to be deducted. However, prepayment isn't allowed within 6 months from the loan disbursement date. Who Are Eligible to use for HDB Personal Loan? Salaried individuals, self-employed individuals, self-employed professionals, self-employed (partnership firms and personal companies) can apply and receive a customized consumer loan. But the key here is to satisfy the eligibility criteria set by the lender to urge a loan. the standards can differ consistent with the classification of the purchasers as shown within the first line of this paragraph. Eligibility Criteria for Salaried The salaried section includes doctors, chartered accountants, government sector employees including public sector undertakings, also as employees of select public and personal limited companies. inspect below the eligibility criteria they have to satisfy to realize approval for a private loan.
Eligibility Criteria for Self-employed (Individuals) These individuals include proprietors, also because of the directors and partners of producing, trading and services business. The eligibility criteria are shown below.
Eligibility Criteria for Self-employed (Professionals) Self-employed professionals contain self-employed doctors, architects, chartered accountants and company secretaries. These professionals must meet the subsequent eligibility criteria to urge the approval for a private loan.
Eligibility Criteria for Self-employed (Private Companies and Partnership Firms)
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Anika Sharma
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