Loan comparison of Creditvidya (Prefr) Personal Loan vs HDFC Bank Personal Loan

Creditvidya (Prefr) Personal Loan

HDFC Bank Personal Loan

Interest Rate

Starts from 18% per annum
Starts from 10.90% per annum

Loan Amount

Up to Rs. 3 Lakhs
Up to Rs. 40 Lakh

Loan Tenure

Up to 6 to 36 months
Up to 5/6 years

Loan Processing fees

Up to 3% to 5%
Up to Rs. 6,500 + GST

EMI per Lakh

N/A
N/A

Part Payment Charges

Prepayment/Foreclosure charges: 5% of POS + GST (or) If loan is closed within 6 months from the date of disbursement, then interest on loan amount for 6 months plus foreclosure charges will be applicable
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

Apply with Rs. 18,000 Salary
Minimum Rs. 25,000 per month

Documents

Photo check: Selfie Identity check: PAN

KYC check: Aadhaar

Income check: 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

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