HDFC Personal Loan Balance Transfer Offers

Rate of Interest
10.75% onwards
Enhanced
Loan Amount
Premium
Benefits
Flexible
Repayment Plans
Apply For Personal Loan Balance Transfer with HDCF Bank







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HDFC Bank Personal Loan Balance Transfer
HDFC Bank strives to provide its clients with unparalleled rates and excellent services for secured and unsecured products therefore, a relationship with HDFC Bank is always advantageous.
You can transfer your existing Personal Loan with an alternate financier to HDFC Bank through a Balance Transfer. HDFC Bank will pay off the Principal Balance of your existing Loan, effectively closing it, and create a new loan for you with HDFC Bank.
What are The Advantages of an HDFC Bank Personal Loan Transfer?
Is your monthly EMI causing stress on your finances? Take control of your financial well-being by transferring your Loan to HDFC! With a hassle-free Balance Transfer process, you can enjoy lower interest rates, reduced EMIs, and exclusive benefits
A Lowered Interest Rate
With an HDFC Personal Loan Transfer, you can enjoy a fixed interest rate of 10.80% when you transfer the principal balance of your Personal Loan. This rate applies to all segments uniformly and for a surplus amount approved as a Top Up.
Processing Fees
A customer has to pay minimal file charges for a Personal Loan Balance Transfer To HDFC Bank. The applicant need not give any charges upfront. The Bank deducts a fixed amount of ₹ 5000/- + tax from the Loan amount approved.
A Suitable EMI
If the customer has strained finances, avoid the chances of a default. Apply For a Personal Loan Balance Transfer To HDFC before the next EMI. With a Balance Transfer, the EMI reduces considerably as HDFC Bank calculates the instalment based on the reduced principal amount with a lower interest rate.
An Appropriate Tenure
HDFC Bank provides a minimum repayment tenure of 12 months and a maximum of 60 months. Apply for a longer term to pay a reasonable EMI, or if affordable, reduce costs and opt to repay the Loan within 12 months.
Apply For a Top-Up
If required, HDFC Bank approves an additional loan amount as a Top-Up, with similar terms as for the Balance Transfer. The applicant must be eligible for the Top Up as per the criteria of HDFC Bank.
Club Multiple Personal Loans
HDFC Bank allows merging several Personal Loans into one account. People with Personal Loans from different banks can transfer them to a single entity through a Balance Transfer application. This process reduces costs and eliminates the need to monitor multiple EMIs.
Transfer Your Credit Card Dues
Avoid paying high fees for overdue credit card bills using the simple Personal Loan EMI option to repay the amount. With HDFC Bank, you can transfer your credit card balance to a Personal Loan. HDFC Bank will pay off your credit card bill on your behalf and set up a personal loan for the same amount
For Increased Eligibility
With the Balance Transfer of a Personal Loan To HDFC Bank, the obligation of the principal loan amount reduces, thus creating the eligibility for additional funds if needed.
What are the eligibility criteria for an HDFC Balance Transfer Personal Loan?
To Transfer Personal Loan to HDFC Bank, the applicant must meet the following criteria:
Employment Criterion
  • The applicant should be employed gainfully with a 30 K or more monthly salary transfer.
  • The applicant's employer should feature in the HDFC Bank list of approved companies.
  • A continuous employment record without a break is required to be eligible for a Personal Loan Balance Transfer.
Status of The Existing Loan
  • The applicant must pay the requisite number of EMI for the Parent Bank to approve the foreclosure of the Loan.
  • The repayment track of the existing Loan must be clean, without any returns of ECS or delayed payments.
  • The existing Personal Loan should have a principal balance of ₹ 50 k or more for HDFC Bank to initiate a transfer.
CIBIL Score and Current Credit Usage
  • The CIBIL Score of the applicant must be 720 points and above, with a timely repayment record for all credit lines.
  • The usage of credit cards should be within the prescribed limits with no late fees or over-limit charges.
  • The HDFC Bank will consider Credit Card outstanding dues and other EMI the customer pays when approving a Balance Transfer.
What are The Primary features of a Personal Loan Balance Transfer to HDFC Bank?
Loan Amount
The maximum Loan the HDFC Bank accepts for a Balance Transfer is ₹ 40 lakhs. This amount includes all Personal Loans, credit card dues and the funds issued as a Top Up.
Tenure
The HDFC Bank sanctions the term for a Balance Transfer Personal Loan to HDFC Bank from 12 to 72 months. The repayment term the Bank allows is according to the customer's ability to pay the installment.
Company List
The applicant's employer should feature in the approved list of companies of HDFC Bank. If the Company is not authorized, the Bank withholds the process for a Balance Transfer.
Customer Profile
HDFC Bank provides the option for transferring the balance of a Personal Loan to those who meet the HDFC Balance Transfer Personal Loan Eligibility Criteria.
How To Apply For a Personal Loan Transfer To HDFC Bank.
If your Loan EMI is financial stress applying to the HDFC Bank is the answer. Follow these instructions to help you complete your transfer successfully.
  • It would be best to Apply Personal Loan Balance Transfer HDFC Bank well in advance to complete the process before the next installment date.
  • Request the parent Bank for an updated track of your Loan, which details the complete Loan information, the number of instalments paid and the principal balance.
  • Confirm the terms offered for your Loan transfer calculate the financial implications of the transfer. Opting for a transfer in the early stages of your Loan schedule is favorable financially.
  • You can apply for a Top Up and a Balance Loan Transfer if you require additional funds. You can use our EMI Calculator to determine the amount of EMI that you can manage comfortably.
  • Compile the appropriate paperwork required beforehand, as complete documents can ensure the processing of your transfer.
What is The Process For a Personal Loan Transfer To HDFC Bank?
Apply for a Personal Loan Balance Transfer to HDFC Bank by completing the form and submitting the required documents. You can apply online or submit hard copies of the application and paperwork.
The Bank will allot a file number to your file and forward the same for completing the following:
  • CIBIL Check.
  • Residence and Office verification.
  • Underwriting.
  • The Calculation of Eligibility.
  • Approval For a Top-Up Amount (if required)
  • The final decision is to approve the total Loan amount with the applicable Tenure applied, the HDFC Bank Personal Loan Balance Transfer interest rate interest rate, and the Processing fee.
  • The customer accepts the terms and conditions and signs the agreement.
The initial stages for processing and approval of the Balance transfer request are similar to that of a fresh Personal Loan.
Once the file is approved, HDFC Bank initiates the disbursal and Balance Transfer request process as follows:
  • The HDFC Bank Transfers the additional loan amount or the Top Up amount required by the customer to the bank account by ECS.
  • A banker's cheque or Draft is issued and given to the customer for the Balance Transfer of the principal loan amount with an alternate Bank.
  • To finalize the foreclosure process, the customer must settle the remaining balance using the cheque provided by HDFC Bank.
  • The customer must pay any applicable foreclosure charges if not covered by HDFC Bank cheque.
  • The parent Bank then issues a statement declaring the total and final payment receipt.
HDFC Bank completes the Balance Transfer procedure with the deposit of the closure receipt. The applicant pays an EMI for the mandated Tenure to repay the Loan.
HDFC Personal Loan Balance Transfer Charges
Salary Net Take Home Rate Of Interest Processing Fee
NET >=50,000 11.25% ₹ 5711/-
NET >=35,000 11.49% ₹ 4500/-
NET >=35,000 12.75% ₹ 4500/-
Loan amount ₹ 10 lakhs+ 10.75% ₹ 5711/-
Loan amount ₹ 15 lakhs+ 10.50% ₹ 5711/-
Charges Applicable Details
Pre-Closure Charges After 12 months, 4% of the principal is outstanding
Pre-Closure Charges After 36 months, 2% of the principal is outstanding
Pre-Closure Charges for ₹ 10 lakhs Nil
Loan Cancellation Charges Nil (However, the processing charges will not be refunded.)
Cheque Bounce Charges Rs 550/- per cheque Bounce.
Charge for Late Payment 2% per month from the date of unpaid EMI
Cheque Swapping Charges Rs 500/-
Amortization Schedule Charges Rs 200/-
Stamp Duty At actual as per applicable law
CIBIL Report Copy Charge Rs 50/- per copy.
Service Tax/Other Taxes At actually applicable presently or in the future.
Legal, Repossession & incidental Charges At actual.
Loan amount ₹ 15 lakhs+ 10.50%
NET >=35,000 11.49%
NET >=35,000 12.75%
Loan amount ₹ 10 lakhs+ 10.75%
Loan amount ₹ 15 lakhs+ 10.50%

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HDFC Bank Personal Loan Balance Transfer Documents
Income Documents
Salary Slip for the last three months.
Bank Statement from Salary account for the last three months showing three salary credits.
Form 16 for the previous financial year.
Pan Card Copy
An Application for Balance Transfer giving details of existing Personal Loan
KYC Documents
Copy of Aadhaar Card
Current/Permanent Address proof
Company ID
2 Passport size photographs
FAQ'S
  • Why is Applying For a Personal Loan Balance Transfer HDFC Bank Preferable?
  • HDFC Bank offers the Balance Transfer Facility to all existing Personal Loan holders running a successful Loan with an external Bank. With the transfer of the Loan, the applicant will benefit from the umpteen advantages and savings offered by HDFC Bank.

  • What are the Significant Benefits of the Personal Loan Balance Transfer To HDFC Bank?
  • An applicant avails significant savings in the Rate of Interest, beneficial terms and conditions, and efficient customer care services by transferring an existing Personal Loan to HDFC Bank.

  • Existing Personal Loan holders of which Bank or NBFC can avail of the Personal Loan Balance Transfer facility HDFC Bank offer?
  • Applicants running a Personal Loan with all government Banks, private Banks and registered NBFC can transfer the balance of their existing personal Loan to HDFC Bank.

  • What are the eligibility conditions for the Balance Transfer of a Personal Loan to HDFC Bank?
  • The Existing Personal Loan proposed for a Balance Transfer should fulfil the pre-closure terms laid down by the parent Bank before initiating a Balance Transfer to HDFC Bank.

  • What is The CIBIL Score required to Transfer a Personal Loan to HDFC Bank?
  • The CIBIL score of the applicant should be above 720 basis points with a timely repayment track of the existing Personal Loan.

  • Can an applicant process a Balance Transfer of more than one Personal Loan to HDFC Bank?
  • HDFC Bank permits the transfer of all currently existing Personal Loans to club them under a single loan the rate of Interest applied will be 11.29% to the total loan amount.

  • What are the perquisites to a Balance Transfer approval from HDFC Bank?
  • For the Balance Transfer of a Personal Loan to HDFC Bank, the applicant should have a clear repayment track of the existing Personal Loan the applicants profile should be as per the terms & conditions of the HDFC Bank.

  • Can the applicant get a Top Up or an extra loan with an HDFC Bank BT Loan if required?
  • The extra loan amount is sanctioned along with the Balance Transfer if the applicant has the financial eligibility and can pay the total EMI conveniently.

  • Will the Tenure of the Loan be affected by the Balance Transfer Personal Loan HDFC Bank?
  • The applicant can ask for a reduction or increase in the Tenure of the new Loan as per the requirement.

  • What minimum loan amount is approved for an HDFC Bank Balance Transfer?
  • The existing Loan should have a Principal Balance of 50k or more for a Balance Transfer by HDFC Bank.

  • How Long Does processing the HDFC Bank Balance Transfer Personal Loan take?
  • It takes seven working days to process the HDFC Bank Personal Loan Bt.

  • How will the Parent Bank repay the balance of the Loan amount?
  • Post approval of the HDFC Bank Personal Loan Balance Transfer application, a Demand Draft will be dispatched to the customer the value of the Draft will be the existing balance of the Personal Loan and foreclosure charges. The customer must deposit the daft in the parent Bank and acquire a closure letter to complete the transaction.

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