Personal Loan - FAQs

Post Dated Cheques(PDCs)/Security Cheques submitted towards loan repayment that have not been encashed, will be defaced and retained by the Bank.

In case, you wish to have your old Post Dated Cheques(PDCs)/ Security Cheques to be returned to you, kindly lodge a request at the Retail Loan Service Center or through PhoneBanking or write us an email at www.hdfcbank.com/services within 45 days from the date of application of change in repayment instructions.

In case, we do not hear from you within the stipulated period, the defaced cheques will be destroyed.

You pay the loan in equal monthly instalments (EMIs). The loan will be paid through post-dated cheques. You can also pay through ECS or a standing instruction to debit your HDFC Bank account with the EMI amount. Try our EMI calculator to calculate how much you need to pay each month.

Yes, for loans booked on or after April 1, 2018, you can close your Personal loan account in Part after completion of 12 EMIs from Loan disbursement.

• Part payment is allowed twice during loan tenure.
• Part payment is allowed only once in single financial year.
• At any point of time, each part payment will not exceed 25% of Principal Outstanding.

Note that Part-payments attract certain charges, and are guided by applicable Terms and conditions. For more information, please refer the Rate & Fee section. To make Part-Prepayments, you need to visit nearest the Retail Loan Service Center and submit your request with the revised account mandate/instructions. This results in either a reduction in the EMI amount for the remaining tenure or reduction in tenure with the same EMI amount. The borrower would need to continue to repay the subsequent EMIs as per the repayment schedule shared by the bank.

The additional charges (if any) are applicable in case you default or in case of SWAP (i.e. change the repayment mode). The charges are updated and can be viewed in the Fees & Charges section in the Bank’s website of each loan product.

A Guarantor is a person who guarantees to pay for someone else's debt if he or she should default on a loan obligation.