Loan comparison of Standard Chartered Personal Loan vs HDFC Bank Personal Loan
Interest Rate
11.49%-17% per annum
10.50% - 21.00% per annum
Loan Amount
Up to Rs. 50 Lakh
Up to Rs. 40 Lakh
Loan Tenure
1 Year to 5 Years
Up to 5 years
Loan Processing fees
Up to 1%-2.25%
Up to 2.50% of the loan amount subject to a maximum of Rs. 25,000 for salaried customers
EMI per Lakh
Part Payment Charges
Up to a maximum of 25% of the outstanding balance of the loan in a year
For salaried individuals there's no pre-payment in Part or Full permitted until repayment of 12 EMIs. Part-payment is allowed up to 25% of Principal Outstanding, and can be done only once in the financial year and twice during the loan tenure.
Following are Part-payment Charges (on part-payment amount):
Salaried- 13-24 months - 4% of principal outstanding
25-36 months - 3% of principal outstanding
>36 months - 2% of principal outstanding
Minimum Income
The net monthly salary must exceed Rs. 22,000
Minimum Rs. 25,000 net income per month
Documents
* Passport, Voter Identity Card, Driving License, Aadhaar Card
* Ration Card, Electricity Bill, Telephone Bill, Life/Medical Insurance Policy, Rental Agreement, Apartment Allotment Letter
* Identity proof such as a copy of passport/voter ID card/driving license/Aadhaar
* Address proof such as a copy of passport/voter ID card/driving license/Aadhaar
* Bank statement of previous 3 months and passbook of previous 6 months
* Two latest salary slip/current dated salary certificate with the latest Form 16
