HDFC Bank made important changes in fee and loan charges

HDFC Bank has revised charges and fees structure on unsecured loans like personal loans with effect from April 24, 2023, according to the bank website. It has also sent messages to its customers stating the same. HDFC Bank made important changes in fee and loan charges.

HDFC Bank is the important changes in fee and charges on person loan:

The lender has also sent messages to its customers about the same.

Below are the important changes in fee and charges on person loan.

Under prepayment charge (for full payment):

HDFC Bank Term Loan:

0 to 12 months – not allowed

13 to 24 months – 4 per cent of the principal outstanding

25 to 36 months – 3 per cent of principal outstanding more than 36 months – 2 per cent of principal outstanding Part-payment allowed after 12 EMIs , up to 25% of Principal Outstanding. It is allowed only once in the financial year and twice during the loan tenure.

GST and other government taxes and levies as applicable from time to time, would be charged additionally.

Under premature closure charges (for full payment):

HDFC Bank Term Loan:

Partial Premature closure charges applicable on part payment amount. Partial premature payment is allowed up to 25 per cent of Principal Outstanding, only once in the financial year and twice during the loan tenure.

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Partial premature payment is allowed post payment of first EMI.

1. Post 01 EMI and up to 24 EMI repayment – 4 per cent of part payment amount.

2. Post 24 EMI and up to 36 EMI repayment – 3 per cent of part payment amount.

3. Post 36 EMI repayment- 2 per cent of part payment amount.

GST and other government taxes and levies as applicable from time to time, would be charged additionally. The HDFC Bank scrip had closed 0.34 per cent down at Rs 1,557.30 a piece on the BSE on Friday.