Personal Loan FAQs

BankBazaar.com gets you the lowest personal

loan rates
1. Lowest rates: We have negotiated with HDFC Bank, CitiFinancial & Fullerton to get
you the best rates.
2. Speed: Get personal loan quotes customized to your profile online in 2 minutes.
3. Easy comparison: Compare loan offers on the basis of total cost & customer
satisfaction.
4. Transparency: Aimed at helping you make the right choice, we provide objective and
transparent information about your loan options.
5. Privacy: Get customized quotes without sharing any contact info. Your application is
sent only to the lender you choose, and is never shared with anyone else.
6. Trust: BankBazaar is a completely neutral marketplace and will never promote one
lender over another.
7. Free: BankBazaar.com does not charge you any fees to use our services.

How to get a personal loan on BankBazaar.com

1. Use the eligiblity calculator above to receive customized personal loan quotes in a few
seconds
2. Compare the personal loan offers you receive and apply for the one you like
3. Your application will be sent electronically to the lender you chose. The lender will
contact you within one day.
4. BankBazaar will update you on your loan application status via email & SMS alerts

How long does it take to get a personal loan

Personal loans are typically disbursed within one week of when you submit your supporting
documents

Your personal loan eligibility and personal loan interest rate

A personal loan is an unsecured loan, which means that the borrower does not need to provide
the bank with any security (ex. property, jewels). Personal loans can be taken for any purpose, be
it for a holiday or a wedding expense.
Most banks and NBFCs offer personal loans up to Rs. 15 lakhs, which can be repaid over a
period of up to 5 years. The loan amount you are eligible for and the personal loan interest rate
you will be charged are dependent on factors such as monthly income, employment history,
residence history and credit history. Banks typically cap the monthly payment (EMI) on your
loan to about 50% of your monthly take home income.

Typical fees and charges payable for a personal loan

1. Lenders charge a processing fee of 2% to 3% of the loan amount, which may vary based
on credit profile.
2. If you repay your personal loan earlier than the agreed time frame, lenders charge a pre-
closure penalty of about 4% of the pre-closed loan amount.

Comparing personal loan quotes from different

banks/NBFCs
1. Banks quote interest rates in many different ways (ex. monthly reducing rate, flat rate),
hence just looking at the interest rate value alone might not give you a true picture of
which personal loan quote is the best. The processing fee should also be considered
when comparing loan quotes. The best way of finding out which personal loan quote is
the cheapest is by comparing the total amount that you need to pay in order to
completely pay off your personal loan.

Total cost of personal loan = Loan amount + Total interest charged throughout loan
tenure + Processing fees & related taxes

2. If you need your loan quickly, compare the average time taken by the bank to disburse a
personal loan.
3. Compare the customer satisfaction ratings of each bank, as the application processes are
different for each bank.

BENEFITS OF HDFC BANK PERSONAL LOANS - October 4th, 2010

FEATURES & BENEFITS

 Borrow up to Rs 15, 00,000 for any purpose depending on your requirements.

 Flexible Repayment options, ranging from 12 to 60 months.

 Repay with easy EMIs.

  One of the lowest interest rates.

 Hassle free loans - No guarantor/security/collateral required.

 Speedy loan approval.

 Convenience of service at your doorstep.

 Customer privileges

• If you are an HDFC Bank account holder, we have special rates for you.

• If you are an existing Auto Loan customer with a clear repayment of 12 months or more
from any of our approved financiers or us, you can get a hassle free personal loan
(without income documentation).

• If you are an existing HDFC Bank Personal Loan customer with a clear repayment of
12 months or more, we can Top-Up your personal loan.
4. Advertisement

ICICI BANK PERSONAL LOANS - October 4th, 2010

ICICI Bank Personal Loan provides with instant money

for a wide range of your personal needs like, renovation of home, marriage in the family, a
holiday with family, child's education, Medical expenses or any other emergencies.

Key Benefits of ICICI Bank Personal Loan

• Loan up to 15 lacs
• No security/guarantor required
• Faster Processing
• Minimum Documentation
• Attractive Interest Rates
• 12-60 Months repayment options
• Loans available for both salaried & self employed individuals
• Loan on Phone" facility
ELIGIBILITY

Criteria Salaried Self - Employed

Age 25 yrs. - 58 yrs. 25 yrs. - 65 yrs.
Net Salary Net annual income - Rs. 96,000 p.a Net Profit after tax - Rs. 150000 p.a
Eligibility Employees of Public Ltd. companies, Private Ltd. companies, Government companies
or MNCs. Doctors, MBA's, Architects, CA's, Engineers, Traders & Manufacturers
Years in current job / profession 1 Year 3 Years
Years in current residence 1 Year 1 Year

DOCUMENTATION

Documents (Pre Sanction) Salaried Self Employed

Latest 3 months Bank Statement (where salary/income is credited) Yes Yes
3 Latest salary slips Yes
Last 2 years ITR with computation of income / Certified Financials Yes
Proof of Turnover (Latest Sales / Service tax returns)
Yes
Proof of Continuity current job (Form 16 / Company appointment letter ) Yes
Proof of Continuity current profession (IT Returns / Certificate of business continuity issued by
the bank) Yes
Proof of Identity (any one) Passport / Driving License / Voters ID / PAN card / Photo Credit
Card / Employee ID card Yes Yes
Proof of Residence (any one) Ration Card / Utility bill / LIC Policy Receipt
Yes
Yes
Proof of Office (any one) Lease deed / Utility bill / Municipal Tax receipt / title deed Yes
Proof of Qualification Highest Degree (for Professionals / Govt employees

Yes
Yes

CHANGING MODE OF REPAYMENT

If you wish to change the mode of repayment of the ICICI personal loan, this needs to be done
with the permission of ICICI bank. Stopping payments on post-dated cheques or otherwise
cancelling or revoking mandates would be considered 'committed with a criminal intent'
according to the ICICI terms and conditions.
SERVICE CHARGES

• Prepayment of the loan is possible after 180 days of availing the loan.
• Foreclosure charges as applicable would be levied on the outstanding loan.
• Part pre-payment is not allowed.
• No other fees or commitment charges are levied.
Description of Charges Personal Loans

Loan Processing Charges / Origination Charges 2* % of loan amount + Origination Charges of

1.5% of loan amount
Prepayment Charges 5% on the principal outstanding
Charges for late payment (loans) 2% per month
Cheque Swap Charges Rs. 500/-
Cheque bounce charges Rs. 200/-
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Be aware of frauds

Security Tips

Security measures at
HDFC Bank

Shareholding pattern

History of Share issues

Bonds Issue History

 Phishing

Money Mules

Internet Banking

Online Shopping /
Payments

Computer security

Internet Browsing

Email Security

Awards and Achievements - Banking Services

HDFC Bank began operations in 1995 with a simple mission: to be a "World-class Indian
Bank". We realised that only a single-minded focus on product quality and service excellence
would help us get there. Today, we are proud to say that we are well on our way towards that
goal.

It is extremely gratifying that our efforts towards providing customer convenience have been
appreciated both nationally and internationally.

2011

BloombergUTV's Best Bank

Financial
Leadership Awards
2011
IBA Banking Winner -
Technology 1) Technology Bank of the Year
Awards 2010 2) Best Online Bank
3) Best Customer Initiative
4) Best Use of Business Intelligence
5) Best Risk Management System
Runners Up -
Best Financial Inclusion
IDC FIIA Awards Excellence in Customer Experience
2011
2010

Outlook Money Best Bank

2010 Awards
Businessworld Best Best Bank (Large)
Bank Awards 2010
Teacher's Mr. Aditya Puri
Achievement
Awards 2010
(Business)
The Banker and Best Private Bank in India
PWM 2010 Global
Private Banking
Awards
Economic Times Business Leader of the Year - Mr. Aditya Puri
Awards for
Corporate
Excellence 2010
Forbes Asia Fab 50 Companies - 5th year in a row
NDTV Business Best Private Sector Bank
Leadership Awards
2010
The Banker World's Top 1000 Banks
Magazine
MIS Asia IT BEST BOTTOM-LINE I.T. Category
Excellence Award
2010
Dun & Bradstreet  Overall Best Bank
Banking Awards  Best Private Sector Bank
2010  Best Private Sector Bank in SME Financing
Institutional HDFC Bank MD, Mr. Aditya Puri among "Asian Captains of
Investor Magazine Finance 2010"
Poll
IDRBT Technology Winner - 1) IT Infrastructure 2) Use of IT within the Bank
2009 Awards Runners-up - IT Governance (Large Banks)
ACI Excellence Highly Commended - Asia Pacific HDFC Bank
Awards 2010
FE-EVI Green Best performer in the Banking category
Business
Leadership Award
Celent's 2010 Model Bank Award
Banking Innovation
Award
Avaya Global Customer Responsiveness Award - Banking & Financial
Connect 2010 Services category
Forbes Top 2000 Our Bank at 632nd position and among 130 Global High
Companies Performers
Financial Express -  Best New Private Sector Bank
Ernst & Young  Best in Growth
Survey 2009-10  Best in strength
Asian Banker  Best Retail Bank in India
Excellence Awards  Excellence in Automobile Lending
2010  Best M&A Integration
 Technology Implementation
The Asset Triple A Best Cash Management Bank in India
Awards
Euromoney Private 1) Best Local Bank in India (second year in a row)  2) Best
Banking and Private Banking Services overall (moved up from No. 2 last
Wealth year)
Management Poll
2010
Financial Insights Innovation in Branch Operations - Server Consolidation Project
Innovation Awards
2010
Global Finance Best Trade Finance Provider in India for 2010
Award
 2 Banking 1) Best Risk Management Initiative and 2) Best Use of Business
Technology Intelligence.
Awards 2009
SPJIMR Marketing 2nd Prize
Impact Awards
(SMIA) 2010
Business Today Listed in top 10 Best Employers in the country
Best Employer
Survey
 
We are aware that all these awards are mere milestones in the continuing, never-ending journey
of providing excellent service to our customers. We are confident, however, that with your
feedback and support, we will be able to maintain and improve our services.

Awards for Year 2000 and 1999

2000

Hong Kong-based Best Domestic Commercial Bank - India

Finance Asia
magazine
Hong Kong-based "Best Domestic Commercial Bank - India
Finance Asia
magazine
Euromoney Best Domestic Bank
magazine
Business India " India 's Best Bank"
Forbes Global Named in The 300 Best Small Companies one of the "20 for 2001"
best FE-E&Y Best Banks small companies
1999

Hong Kong-based Best Domestic Commercial Bank - India

Finance Asia
magazine
Hong Kong-based "Best Domestic Commercial Bank - India
Finance Asia
magazine
Business Today "Best Private Sector Bank"
 Euromoney Best Bank - India
magazine
  Asiamoney Commercia
magazine l Bank in
India 2002
2001

Hong Best
Kong- Domestic
based Commercia
Finance l Bank -
Asia India
magazine
Hong "Best
Kong- Domestic
based Commercia
Finance l Bank -
Asia India
 magazine
Euromone "Best Bank
y magazine in India
Forbes Named in
Global The 300
Best Small
Companies
one of the
"20 for
2001" best
FE-E&Y
Best Banks
small
companies
The Awards for
Economic Corporate
Times Excellence
as the
Emerging
Company
of the Year
 

Awards for Year 2004 and 2003

2004

Asiamoney Awards Best Local Cash Management Bank in India US$11-100m

Asiamoney Awards Best Local Cash Management Bank in India >US$501m
Asiamoney Awards Best Local Cash Management Bank in India 1989-2004 (poll of
polls)
Asiamoney Awards Best Overall Domestic Trade Finance Services in India - 2004
Asiamoney Awards Most Improved company for Best Management Practices in India -
2004
Business World One of India's Most Respected Companies - 2004
Forbes Global Best Under a Billion, 100 Best Smaller Size Enterprises in
Asia/Pacific and Europe - 2004
 Asian Banker Operational Excellence in Retail Financial Services - 2004
Awards
The Asset Triple A Best Domestic Bank in India - 2004
Country Awards
2003

Forbes Global Best Under a Billion, 200 Best Small Companies - 2003
The Asset Triple A Best Domestic Bank in India -2003
Country Awards
BusinessWorld - One of India's Most Respected Companies
The Business
World Most
Respected
Company Awards
The Asset Best Cash Management Bank
magazine
The Asset Best Trade Finance Bank
magazine
FE-Ernst & Young Best New Private Sector Bank - 2003
Best Banks Survey
Outlook Money Best Bank in the Private Sector – 2003
Business Today Best Bank in India -2003
NASSCOM & Best IT User in Banking -2003
economictimes.com
- IT Users Awards

Awards for Year 2006 and 2005

2006

Business Today Best Bank in India.

Forbes Magazine One of Asia Pacific's Best 50 companies.
Businessworld Best listed Bank of India.
The Asset Best Domestic Bank.
Magazine's Triple
A Country Awards
 Asiamoney Awards Best Local Cash Management Bank in Large and Medium
segments.
Euromoney Awards "Best Bank" in India.
2005

Asiamoney Awards Best Domestic Commercial Bank

Asiamoney Awards Best Cash Management Bank - India .
The Asian Banker Retail Banking Risk Management Award in India.
Excellence
Hong Kong-based Best Bank India
Finance Asia
magazine
Economic Times "Company of the Year" Award for Corporate Excellence.
Awards
The Asset Triple A Best Domestic Bank in India Region - 2005
Country Awards
The Business Best Local Cash Management Bank in India US$11-100m - 2005
Today-KPMG
Survey
The Business "Best Bank in India" for the third consecutive year in 2005.
Today-KPMG
Survey
Economic Times - "Most Customer Responsive Company - Banking and Financial
Avaya Global Services - 2005
Connect Customer
Responsiveness
Awards

Awards for Year 2008 and 2007

2008

Finance Asia Best Bank and Best Cash Management Bank

Country Awards
for Achievement
2008
CNN-IBN Indian of the Year (Business)
Nasscom IT User Best IT Adoption in the Banking Sector
Award 2008
Business India Best Bank 2008
Forbes Asia Fab 50 companies in Asia Pacific
Asian Banker Best Retail Bank 2008
Excellence in
Retail Financial
Services
Asiamoney Best local Cash Management Bank Award voted by Corporates
Microsoft & Indian Security Strategist Award 2008
Express Group
World Trade For outstanding contribution to international trade services.
Center Award of
honour
Business Today- One of India's "Most Innovative Companies"
Monitor Group
survey
Financial Express- Best Bank Award in the Private Sector category
Ernst & Young
Award
Global HR Employer Brand of the Year 2007 -2008' Award - First Runner
Excellence Awards up, & many more
- Asia Pacific HRM
Congress:
Business Today Best Bank Award
2007

Dun & Bradstreet – Corporate Best Bank Award

American Express
Corporate Best
Bank Award 2007
The Bombay Stock Best Corporate Social Responsibility Practice Award
Exchange and
Nasscom
Foundation's
Business for Social
Responsibility
Awards 2007
 Outlook Money & Best Bank Award in the Private sector category.
NDTV Profit
The Asian Banker Best Retail Bank in India
Excellence in
Retail Financial
Services Awards
Asian Banker Our Managing Director Aditya Puri wins the Leadership
Achievement Award for India
 
Awards for Year 2009

2009

Business India Mr. Aditya Puri, MD, HDFC Bank

Businessman of the
Year Award for
2009.
Businessworld Best Most Tech-savvy Bank
Bank Awards 2009
Outlook Money Best Bank
NDTV Profit
Awards 2009
Forbes Asia Fab 50 Companies in Asia Pacific
GQ India's Man of Mr. Aditya Puri, MD, HDFC Bank
the Year (Business)
UTI MF-CNBC Best Performing Bank
TV18 Financial
Advisor Awards
2009
Wall Street Journal  Our Bank among India's 10 Most Admired Companies
survey of Asia's
Best 200  Rated 3rd Best in terms of Financial Reputation
Companies 2009
Business Standard Mr. Aditya Puri, MD, HDFC Bank
Best Banker Award
Fe Best Bank - Best Innovator of the year award for    our MD Mr. Aditya
Awards 2009 Puri
 - Second Best Private Bank in India
- Best in Strength and Soundness    Award
Euromoney Awards Best Bank in India
2009
Economic Times Most Trusted Brand - Runner Up
Brand Equity &
Nielsen Research
annual survey 2009
Asia Money 2009 Best Domestic Bank in India
Awards
IBA Banking Best IT Governance Award - Runner up
Technology
Awards 2009
Global Finance Best Trade Finance Bank in India for 2009
Award
IDRBT Banking Best IT Governance and Value Delivery
Technology
Excellence Award
2008
Finance Asia  Mr. Aditya Puri - India's Best CEO
magazine's annual
poll of Investors  Our Bank is 3rd in 'Best managed Company' category
and Analysts 2009
Asian Banker Asian Banker Best Retail Bank in India Award 2009
Excellence in
Retail Financial
Services