Best Way to Compare HDFC VS. ICICI Bank Personal Loan 2021
HDFC VS. ICICI Bank Personal Loan 2021 | For an availing personal loan, HDFC VS. ICICI Bank Personal Loan 2021 are both aggressive in disbursing personal loans in 2021. It can be easy to compare both banks while checking the loan disbursal, interest rates, documents, and repayment tenure. Let’s discuss HDFC VS ICICI Bank Personal Loan 2021 with more information.
Compare HDFC Bank and ICICI Bank Personal Loan 2021
The given table will help you for availing a personal loan from HDFC Bank and ICICI Bank are as under:
| Particulars |
HDFC Bank Personal Loan |
ICICI Bank Personal Loan |
| Interest Rates | From 11.49% up to 19.50% | From 11.99% up to 18.50% |
| Loan Amount | Starting from Rs.50,000 up to Rs.40 lacs | From Rs.50,000 up to Rs.20 lacs |
| Processing Fees |
|
From 2% up to 2.25% |
| Age limit | 21 years up to 60 years | For salaried: Minimum of 23 years Maximum of 58 years.
For Self-employed: Min. 25, max. 65 years |
| Loan Tenure | 12 months up to 60 months | For up to 72 months |
| Pre-Payment Charges | 4% | 5% |
It might be difficult to choose from one of these banks either HDFC Bank or ICICI Bank as both banks offering a reasonable rate of interest and maximum loan amount. In personal loan EMI quotes can change from person to person on the basis of profile and company, CIBIL Score helps to make a decision, inquire, and helps to get EMI Quotes. Based on this EMI Quotes and other payments needs to decide which bank is required to avail the personal loan for an individual.
ICICI Bank Personal Loan
ICICI Bank is one of India’s leading banks and the best personal loan lenders. It provides personal loans to its customers at low-interest rates to help them meet their financial demands, such as weddings, house repairs, child’s education, vacations, and more. You can receive a personal loan from ICICI Bank for up to Rs. 20 lakhs for up to 60 months without any hassle.
Why are people preferring ICICI Bank Personal Loan?
ICICI Bank offers personal loans with a wide range of benefits listed below:
- Attractive interest rates: The interest rates on an ICICI Bank personal loan are quite fair. The bank has one of the lowest interest rates on the market, with rates as low as 10.5% per year. Furthermore, after each EMI, interest is calculated on the outstanding principal.
- Digital Process: The entire process of applying for a personal loan with ICICI Bank is done online. Fill up and submit an online personal loan application. You will receive a soft approval for the same in a matter of seconds or minutes.
- Minimum documentation: Minimal documentation is required when applying for a personal loan with ICICI Bank. A personal loan can be obtained with the bare minimum of KYC documentation.
- Maximum loan amount: ICICI Bank offers personal loans up to Rs. 250 lakhs without requiring any collateral.
- Flexible loan terms: You can acquire a personal loan from the ICICI Bank for a term ranging from 12 to 72 months. Customers can select a payback term based on their ability to pay.
- Quick Disbursal: After completing online verification and accepting the final offer, ICICI Bank disburses a personal loan to a pre-approved consumer in about 3 seconds.
HDFC Bank Personal Loan
As we know that HDFC Bank is a leading private sector in India offering an affordable rate of interest. A personal loan with unrivaled features and perks is available from the bank. Borrowers can apply for an HDFC Bank personal loan online, which is a quick and painless process. HDFC Bank personal loan EMI calculator is one of the bank’s essential tools, and you may check your eligibility in under a minute online.
Why are people preferring HDFC Bank Personal Loan?
One can easily avail of HDFC Bank Personal Loan 2021 with various benefits listed below:
- Easy, quick, and painless documentation: The documentation process for a personal loan is simple, quick, and painless. To obtain a personal loan from HDFC Bank, you must submit a few papers. Address evidence, identification proof, proof of income, and credit score are among the documents required. Customers who have been pre-approved can acquire a personal loan without having to fill out any paperwork.
- Collateral free: A personal loan with no collateral is available from HDFC Bank. As a result, you will not be required to provide any assets in order to obtain a bank loan. To determine your eligibility for a personal loan, the bank looks at your income, cash flow, the firm you work for, or the business you own. Customers of HDFC Bank must complete a few simple steps.
- Instant disbursal: Borrowers can apply for an HDFC personal loan online and receive funds immediately. Customers of HDFC Bank can acquire a pre-approved personal loan in as little as 10 seconds. Non-HDFC banking customers can acquire a personal loan in as little as four hours if they meet the requirements.
- Low-interest rates: Comparing to other banks, HDFC Bank Personal Loan Online with low-interest rates. The applicants are eligible with a good credit score, good income, stable job, and existing relation with the bank at more favorable terms.
- Flexible and simple repayment terms: The bank offers a personal loan with a flexible and simple repayment period ranging from 12 to 60 months with an EMI starting at Rs 2,187 per lakh.
- There are no restrictions on how the money can be spent: Personal loans from HDFC Bank can be used for anything, including vacations, weddings, the latest technology, home renovations, vacations, medical expenditures, business investments, and more.
Conclusion for HDFC VS. ICICI Bank Personal Loan 2021
This is the detailed comparison of HDFC Bank VS ICICI Bank Personal Loan 2021, from which you can compare and select according to your needs. Once you check the list of eligibility criteria, interest rate, and repayment tenure for the loan. The loan may vary from borrower to borrower based on the facts. You can also apply for a loan through Afinoz.com.
Read More:- Qbera online personal loan app
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