HDFC Personal Loan Payment

HDFC personal loan repayment can be made before the end of tenure in part or full. Following are the conditions and charges applicable to the HDFC Personal Loan Preclosure:

• No prepayment is allowed in part or full until repayment of 12 EMIs.
• Part prepayment is allowed up to 25% of the principal outstanding only once in a financial year and twice during the entire loan tenure.
• HDFC personal loan prepayment charges are as follows:
  • 13 - 24 months: 4% of principal outstanding,
  • 25 - 36 months: 3% of principal outstanding
  • After 36 months: 2% of the principal outstanding

You can easily make HDFC loan payment online through any of the following ways:

Via HDFC Internet Banking: You can make HDFC personal loan EMI payment online through the internet banking of the bank.

• Visit the official website of HDFC Bank for HDFC Jumbo loan payment online.
• Enter your login credentials to login to the portal.
• On successful login, you can then select the appropriate loan account and pay HDFC personal loan EMI with your HDFC Bank account balance.

Through HDFC Mobile App: Customers can use the mobile application of the HDFC Bank for HDFC personal loan payment.

• Download the HDFC mobile app on your Android or iOS smartphone through Google Play Store or Apple Store respectively.
• One you login to the app, click on the payment tab.
• Then click on the Personal Loan.
• You can now easily make the HDFC loan EMI payment through the app.

Other Online Payment Options for HDFC Personal Loan: Apart from the two alternatives mentioned above, you are provided with the multiple options for HDFC Bank loan payment. Below are some of these ways through which you can pay your loan EMI:

• Paytm: Customers can make HDFC loan repayment online through Paytm app. Just login to your Paytm account, click on loan repayment and choose HDFC Bank to proceed to pay the loan EMI.
• NEFT/RTGS: You can choose opt for making HDFC personal loan online payment

Through NEFT or RTGS using a bank account other than the HDFC account.

• Billdesk: You can also make HDFC Bank loan payment online through Billdesk by entering the Loan Number and Date of Birth as per your bank records. Then make the payment using any bank account in India.
• Bank Cheques: For loan payment HDFC also accepts post-dated cheques (PDCs) drawn on the same bank or any nationalised bank.

If you are wondering how to pay HDFC loan EMI offline, you can choose any of the following modes: 

• Cheque or Draft: You can use post-dated cheques (PDCs) or demand drafts drawn in favour of HDFC Bank loan account to make HDFC bank loan EMI payment offline. The bank does not accept cash for offline repayment of retail segment loans, including unsecured personal loans.
• Standing Instruction or NACH Mandate: Another popular HDFC personal loan payment options directly from your bank account are EMI payment through SI (Standing Instruction) or NACH (National Automated Clearing House) mandate. You have to fill it out and submit it to the bank for automatic deduction of loan EMIs from your HDFC or other bank account as per the due date of EMI.
• Now, if you have HDFC loan pay online by registering for e-NACH mandate online at the HDFC Bank website.

Pre-closure charges for HDFC personal loan part and full prepayment are as follows:

• 13 - 24 months: 4% of principal outstanding,
• 25 - 36 months: 3% of principal outstanding
• After 36 months: 2% of principal outstanding

Customers will have to pay HDFC personal loan EMI late payment charges of 2% per month on overdue EMI or Principal. The bank also charges cheque bounce charges of Rs. 550 per instance of cheque bounce. It is recommended not to miss or delay the EMI payment for your personal loan to avoid late payment or cheque bounce charges.

• Contact the HDFC Bank representative and inform them about your intention of prepaying your HDFC personal loan. You can ask them about how to repay HDFC personal loan before the end of the tenure and they can help you.
• Now you can make the loan prepayment in part or full by releasing a demand draft or cheque at the nearest HDFC Bank branch.
• HDFC Bank does not accept cash more than Rs. 49,000 for loan prepayment or pre-closure. If you wish to make prepayment of above Rs. 49,000, you can pay through pay order or demand draft or account payee cheque.
• You can prepay or foreclose your HDFC personal loan by paying a nominal prepayment charge.