Table of Contents
Can we pre close personal loan in HDFC before 12 months?
HDFC Bank enables a personal loan borrower to make a pre-closure or a pre-payment of loan. However, you will be able to prepay your HDFC personal loan only after 12 months after you have procured your loan and after paying 12 EMIs plus the foreclosure charges that may be applicable.
Can we close personal loan before 12 months?
Types of personal loan closures In most cases, the borrower can opt for a personal loan pre-closure after a year or payment of a minimum of 12 EMIs. When foreclosing the loan, the borrower will have to pay the EMI of the current month, any outstanding dues if there, are and the foreclosure fees.
Can I close my EMI early?
Whether you have taken a personal loan, home loan, car loan, or any other loan product from HDFC, the bank allows you to repay the remaining EMIs at one go. Repaying all EMIs at once is known as pre-closing the loan account.
Can I close HDFC personal loan online?
No, you cannot close the personal loans online for HDFC Bank. Individuals are required to visit the HDFC Bank Branch to close the personal loan. Below are the steps to close the HDFC Bank personal loan: Visit the nearest HDFC Bank branch.
Can I close my personal loan before tenure HDFC?
If you have taken a personal loan from HDFC Bank, the bank will allow you to make prepayment or pre-closure ahead of the tenure. The bank has a lock in period of one year within which you can neither pre-close your account nor make prepayments.
Can I Close my HDFC personal loan before completing 12 months?
To answer the question, one can’t close your HDFC personal loan before completing 12 months. That means you have to pay at least 12 EMI before you approach HDFC bank with your personal loan preclosure application.
How to get pre-closure acknowledgement receipt from HDFC Bank?
Pre-closure acknowledgement receipt: If you have closed your HDFC loan account before end term; then get pre-closure acknowledgement receipt from the bank. Get report from CIBIL: After 60 days of HDFC loan closure, visit CIBIL website and get your personal credit report.
Can I pre-pay my HDFC Bank personal loan?
Check your Eligibility! HDFC Bank enables a personal loan borrower to make a pre-closure or a pre-payment of loan. However, you will be able to prepay your HDFC Personal Loan only after 12 months after you have procured your loan and after paying 12 EMIs plus the foreclosure charges that may be applicable.
What is the interest rate of HDFC Bank on EMI?
Considering the fact that HDFC bank charges interest rate of 10.75\% – 22\%; quick closing of the loan account is the key for the borrower to save money spent on EMI. But closing your account does not necessarily mean, you are all done. There are certain key things you need to do for a successful closure: