How To Clear Hdfc Personal Loan Online

MyLoanCare
Personal Loan
Prepayment
Hdfc Bank

HDFC Personal Loan Closure

HDFC Bank Foreclosure Charges

Last Updated 16th Nov 2021

HDFC Bank Personal loan pre-closure refers to a situation where the borrower pays back the loan before the end of a personal loan agreement either fully or partially.
Partial payment of HDFC Bank Personal loan is called Part payment, whereas closing the loan completely is called foreclosure.
You can foreclose your personal loan by contacting the HDFC Bank branch where you availed the loan.
Ensure collecting NOC and loan statements of your last paid EMIs once you prepay or part pay your personal loan.

Part Payment Fee	Allowed	After 12 Months at 2-4%
Foreclosure Fee	Allowed	After 12 Months at 2 - 4%

Check Best Offers

Personal Loan Prepayment Calculator

Share your mobile number to get the calculation and comparison link on SMS

Thanks. You will soon receive the SMS with the detailed output.

ICICI Bank Personal Loan Rate
Bajaj Finserv Personal Loan Rate
Apply Online
Check Eligibility
Cashback Offers
Read Reviews
Compare Banks
Explore Gold Loan

HDFC Bank Personal Loan Pre-Closure

You can avail foreclosure of HDFC Bank personal loan if you pay back the personal loan completely before the end of the loan agreement. In case of foreclosing the loan, you will have to pay the current month's EMI, any outstanding dues if there are and the foreclosure fees.HDFC Bank allows part payment of personal loan after 12 Months at 2 - 4%

Steps of HDFC Bank personal loan preclosure are as follow:

Visit the HDFC Bank branch and carry all the necessary documents like identity proof, last EMI payment, and loan account number to the HDFC Bank.
Pay the outstanding loan amount as well as the HDFC Bank foreclosure charges.
Once all the documents are checked and the amount made, the bank will check to provide the acknowledgement. The acknowledgement will clarify that you have paid the loan amount and there are no further outstanding dues left.

Bank SBI

Interest Rates @9.60%

Lowest EMI Per Lakh ₹ 1,832 for 72 Months

Customer Rating

3.6/5.0

Bank HDFC Bank

Interest Rates @10.25%

Lowest EMI Per Lakh ₹ 2,137 for 60 Months

Customer Rating

4.5/5.0

HDFC Bank Personal Loan Part-Payment

Apart from foreclosing HDFC Bank Personal Loan, you may also prepay your personal loan partially. This is called personal loan part payment. HDFC Bank allows part payment after 12 Months at 2-4%

Fees and Charges of HDFC Bank Personal Loan Closure

Fees and charges associated with preclosure of HDFC Bank Personal Loan are listed as follows:

Part payment is Allowed at 2-4% after 12 Months
Foreclosure is Allowed at 2 - 4% after 12 Months

HDFC Bank Personal Loan Regular Closure

You can pay back your HDFC Bank Personal loan via regular closure, which involves repaying the last EMI of the loan as per the pre-decided personal loan part payment schedule. The steps for closing HDFC Bank Personal loan are as follow:

Pay the last instalment of the HDFC Bank loan and contact the bank for closing the loan.
Provide all the relevant documents like identity proof, last EMI payment, and loan account number to the HDFC Bank branch where you opted for the loan.
On checking all the documents and their authenticity, the bank will provide the NOC or No Objection Certificate. No objection certificate is proof that you have paid all the EMIs and there is no outstanding due.

However, in order to make the loan less expensive, you may opt for a HDFC Bank Personal loan part payment. To reduce the interest burden, you can opt for HDFC Bank foreclosure or part payment of the loan.

FAQs

✅What is the HDFC Bank pre-closure fee for a personal loan?

Pre-closure fee or foreclosure charges is a penalty levied when you prepay the personal loan before the end of the tenure. HDFC Bank allows part payment of personal loan after 12 Months at 2-4%.

✅Can we close personal loans online for HDFC Bank?

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.
Carry necessary documents like identity proof, address proof and bank statements mentioning the final clearance of the last EMI.
Once all the documents are successfully checked, the HDFC Bank will give the acknowledgement letter and NOC.

✅Does foreclosure of HDFC Bank personal loan affect CIBIL?

Foreclosure of HDFC Bank personal loan may not directly affect your CIBIL score. However, your chances of creating a good credit history, which will result in an improved score, will be affected.

MyLoanCare Assurance

Free Service and
Quality Response

Digital Doorstep Services

HDFC Personal Loan News - Nov 2021

2021-10-05 : HDFC Bank Reports Growth in Advances in Q2
HDFC Bank has reported a growth in advances by 15.4% in quarter 2. As a result, the advances have grown to ₹ 11.98 lakh crore as of September 30, 2021, from ₹ 10.38 lakh crore a year ago.
2021-09-02 : HDFC Bank offers Special Personal Loan
HDFC Bank has launched a personal scheme for new, and BT offers at an attractive rate. The new personal loan rates are stating at 10.25%
2021-08-01 : Special HDFC Bank Offer for Government Employees
HDFC Bank has launched a special Freedom Dhamaka Offer for personal loans for government employees. The personal loan rates start at 10.25% and are valid till 15th August 2021.
2021-07-08 : HDFC Bank loan growth hit amidst covid-19 pandemic
Private lender HDFC Bank numbers for the June quarter showed loan growth moderation and contraction in its retail credit book. The bank slowed its retail disbursements which were down 30% sequentially, reflecting the impact of the second Covid wave. The continued weakness in the retail segment led to retail segment share in total loans that include Personal Loan, Home Loan, Loan Against Property, Business Loan, Gold Loan, Two-wheeler Loan, Car Loan, Education Loan and Top-up Loan slipping down to 45% from 47% in June quarter last year.
2021-05-28 : HDFC Bank commits Rs 100 cr towards COVID relief in FY22
HDFC Bank committed Rs 100 crore for setting up medical infrastructure for COVID-19 relief in 2021-22. The bank is planning to set up 20 oxygen plants in hospitals besides three 100-bed COVID care facilities as part of the plan.

*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them. Read More Read Less

Please wait while your information is being processed...