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Moratorium is offered by banks in the wake of COVID-19 pandemic to defer payment for up to 6 months. While you can stay away from making the repayment, interest charges apply during the moratorium period. If you plan to use the moratorium period for your personal loan, through the moratorium EMI calcultor, you can get to how much you will be paying additionally after the moratorium period ends. 

HDFC Bank has announced an extension of the moratorium on loans to 31 August, 2020. You can avail loan moratorium up to 6 EMIs due from 1 March, 2020 and 31 August, 2020. If you take up the moratorium you wouldn’t have to pay your EMIs between the moratorium period given.

You can make your HDFC Bank overdue loan payments  from any bank account via BillDesk. Firstly, you would have to provide your bank loan details. Enter your HDFC Bank overdueLoan account number and your date of birth. Then you would have to pick your net banker from the drop down and click on PAY. You will be redirected to the bank payment interface of your chosen net banking option. 

Personal loans can be availed by self employed people even if they fail to submit their income proof. Lenders would be willing to provide you secured loans where the applicants would have to submit collateral, for example, property documents to the lender. It’s always better to apply with a lender who you already have opened accounts with, as this will be helpful for you to negotiate for lower interest rates and higher loan amounts.

Applying for a loan while being unemployed might not get you high approval chances for the loan you are looking for. Lenders would need to see a source of income, so that they will have an assurance that you will make your payments on time. Having a guarantor will give you a better chance of qualifying for the loan. But even though if you don’t sign a guarantor you can always go for a secured loan.

Personal loans are easy to avail and you wouldn’t need to pledge collateral as they are unsecured loans. Due to this reason, these loans have comparatively high interest rates, when compared to secured loans like home loans and gold loans. The loan amount that you get approved will depend on different factors: your monthly salary, your credit score, your repayment capability, etc. A lender will want to know your monthly salary, so that they have an assurance that you will make your monthly EMIs without any delays or difficulty.

There are a few factors that will be taken into consideration before you qualify for a personal loan. One of the main criteria that will be checked is your monthly salary. The minimum monthly salary you would need to apply for a personal loan will be approximately Rs. 15,000. People who have a salary below that might find it difficult to qualify for a loan. They might have chances of qualifying, but might not get high loan amounts and would have to pay higher interest rates. But banks usually prefer borrowers to have a monthly salary of Rs. 25,000.

A loan is itself a debt. To pay off your existing debt, taking a loan can increase your debt burden as a loan comes with interest payment. However, it also depends on the type of debt you have at the moment. For example, in case you want to consolidate all your debts and pay off as a single one, you can opt for a debt consolidation loan. This can help you make a single payment each month to one lender. However, you need to compare the interest rates on existing loans and the new loan. Higher interest on new loan means higher repayment.

For all types of loans (secured and unsecured), the applicant must show proof of income so that lenders can evaluate your repaying ability. Although a housewife works hard for the family’s well-being, she is still treated as a non-earning member. Despite this, there are options to become eligible for loans.

SBI Pension loan scheme helps you get funds for your child’s marriage, to buy your dream house, plan for a vacation and especially for medical emergencies. Eligibility of personal loans for central and state government pensioners, defence pensioners and family pensioners will each have it's own criteria.

Tenure is the time period within which you would have to pay your loans back within the given time. When you’re in need of a personal loan and you want to make sure you get the ideal tenure deal, its better to take into consideration a few factors.

As long as you have a good credit score and meet the eligibility criteria for either of the loans, you can avail them. The lender has to be convinced enough to know that you would be able to handle both the loans and make payments regularly.

Personal loans are unsecured loans and can also be secured loans sometimes that can be availed for meeting your immediate financial needs. If you are planning to go on a trip and are in need of funds, then you can go for a personal loan.

The overdue amount on any personal loan would fall under the unpaid EMI for the specific month. The borrower has failed to pay the EMI on or before the due date. Failure to pay the EMI on-time may result in a penalty that would be a certain percentage of the EMI.

Personal loans are not bound by salary slips. But, all lenders will ask you to submit proof of income. Personal loans are offered to both salaried and self-employed individuals. When you mention your occupation in your personal loan application as ‘Private’ or ‘Salaried’, it can be mandatory that you need to submit the salary slips. On the other hand, the self-employed individuals are not needed to submit payslip.

Personal loans from Tata Capital are flexible. Interest rates are fair and tenure periods are longer. Eligibility while considering an individual’s salary is less. The fees and charges are not too much either. You can decide the quantum of the loan according to your needs and pick the EMI that you are comfortable with. There is no need of collateral or any kind of security.

Prepayment is a process where the borrower decides to pay his loan partially in maximum amount before the loan closure period. HDFC Bank allows you for the partial payment of a personal loan if you have taken HDFC Bank Personal Loan, on or after 1st of April 2018. 

Pre-closure or pre-payment is a process where the borrower chooses to pay his loan fully or partially before the due date. Before taking this step, the borrower should make sure that he has sufficient funds to close his loan early. It is also advisable that the borrower finds out with his lender if there is any penalty for pre-closing his loan.

A personal loan is an unsecured loan and the lender would want a strong proof for repayment. Your salary is a major factor that determines your loan eligibility. Most lenders do not entertain candidates with income less than Rs. 10,000.

Personal loan is a popular loan that can be availed easily from any bank without security. HDFC Bank provides pre-approved personal loans to both existing and non-HDFC Bank customers. You just need to check the eligibility by visiting their official website.

To check whether you are eligible for the loan, you need to visit the official website of the bank and check out loan section. You need to enter your personal and contact details. You will instantly know if you have a pre-approved offer. If you are a customer of ICICI Bank, you can just login to the net banking and see the eligible offers.

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