Table of Contents
How can I cancel my HDFC loan?
What to do:
- Visit bank with the complete set of documents (as mentioned above).
- You may be required to fill a form or write a letter requesting pre-closure of the Personal Loan account.
- Pay the pre-closure amount.
- Sign the required documents, if any.
- Take acknowledgement of the balance amount you have paid.
Can loan tenure be increased?
Ask your bank for increasing the tenure: Yes, you can ask your bank to increase the loan tenure after the term is started. And while you are doing that, you can opt for a higher loan tenure as against the earlier one as per your repayment capacity. Typically HDFC Personal Loan offers Loan tenure around 3 to 5 years.
Can we close HDFC personal loan before year?
HDFC Bank does not usually allow complete pre-closure of a personal loan. It does, however, allow you to make part payment towards your loan. This has to be done at least 12 months after the first EMI and should not exceed 25 per cent of the total principal outstanding.
Can I close my 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.
How can I change the tenure of my HDFC Bank loan?
Bank look upon the salary and company categorization as per that they give tenure . So after loan has been disbursed then if you want to change the tenure you can do part payment as HDFC bank also started with part payment option after 1 year 20 percent of loan amount can be paid… So by this way u can decrease the tenure.
How to apply for HDFC personal loan with lower interest rates?
If you have a good working relationship with your bank, you may be able to procure lower interest rates on your loan amount. Applying for an HDFC Personal Loan is as easy as a single click. To apply for Personal Loan, click here!
What is the minimum tenure of HDFC Bank for pre-closer account?
HDFC bank charge 3\% of principal amount as penalty for precloser of loan account. Well minimum tenure it start from 1 year to 5 year.. Bank look upon the salary and company categorization as per that they give tenure .
Should you choose a lower or higher tenured loan?
When you choose a lower rate of interest, you are also choosing a shorter tenure. If you believe that you can repay the loan faster, by paying off high EMIs, then you can opt for a lower tenured loan.