Loan comparison of IndusInd Bank Personal Loan vs HDFC Bank Personal Loan
Interest Rate
Starts from 10.49% per annum
Starts from 10.90% per annum
Loan Amount
Up to Rs. 50 Lakhs
Up to Rs. 40 Lakh
Loan Tenure
Up to 12 to 84 months
Up to 5/6 years
Loan Processing fees
Up to 3.5% of loan amount + GST
Up to Rs. 6,500 + GST
EMI per Lakh
Part Payment Charges
Prepayment allowed only after repayment
of 12 EMIs. The charges will be 4% of the principal outstanding after repayment of 12 EMIs + GST
Premature Closure Charges (For Full & Part Payment): Up to 24 EMI- 4% of principal outstanding,
Post 24-36 EMI - 3% of principal outstanding,
>36 EMI - 2% of principal outstanding
Prepayment charge would be applicable on the principal outstanding amount, Part prepayment would be allowed post servicing of 1st EMI, up to 25% of Principal Outstanding. It is allowed only once in the financial year and twice during the entire loan tenure. Charges would be applicable as above on the part pre-payment amount.
Minimum Income
For Salaried: Minimum net monthly income should be Rs. 25,000
Minimum Rs. 25,000 per month
Documents
Application: Application form with photograph
Proof of Identity: Self-attested photocopy of any one of the following: Driving license, Passport, Voters ID, Aadhaar, PAN
KYC: Valid identity/Residence/Signature proof
Income proof: Form 16/ITR for last 3 years/Latest 3 months salary slip
Banking: Latest 3 months’ Salary Credit Bank Statement
Latest 3 months pay slips
Latest 6 months Bank statements in PDF format
KYC Documents ( PAN & Adhaar)
Employee ID card, Form 16, Previous emp proof if any
Employment less than 1 Yr qualification proof required
