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Loan comparison of CitiBank Personal Loan vs HDFC Bank Personal Loan

Interest Rate

10.75% per annum onwards
Starts from 10.90% per annum

Loan Amount

Ranges between Rs. 50,000 to Rs. 30 - 40 Lakhs
Up to Rs. 40 Lakh

Loan Tenure

12 to 60 months
Up to 5/6 years

Loan Processing fees

Up to 3% of the loan amount sanctioned
Up to Rs. 6,500 + GST

EMI per Lakh

N/A
N/A

Part Payment Charges

N/A
Premature Closure Charges (For Full & Part Payment): Up to 24 EMI- 4% of principal outstanding, Post 24-36 EMI - 3% of principal outstanding, >36 EMI - 2% of principal outstanding Prepayment charge would be applicable on the principal outstanding amount, Part prepayment would be allowed post servicing of 1st EMI, up to 25% of Principal Outstanding. It is allowed only once in the financial year and twice during the entire loan tenure. Charges would be applicable as above on the part pre-payment amount.

Minimum Income

The minimum monthly income should be Rs. 25,000
Minimum Rs. 25,000 per month

Documents

For Salaried Individuals and Self-employed Individuals, the basic docs are: 

* PAN Card/Aadhaar Card/Driving License/Voter’s ID/Passport/Photographs 

* Utility bills from the past 3 months/Ration card/Rent agreement or lease deed or property registration document

* Bank account statement for the past 3 months 

* Latest income tax returns 

* School or College Leaving Certificate/Company ID 

* Letter from employer/Form 16/payslips 

Additional docs required for Self-employed Individuals are: 

* Trade License with photograph 

* Rent receipts or lease deed

* Ownership document 

* Profit and Loss account

* Past 2 years Income tax returns

* Balance sheet

* Bank statement for the past 6 months

* Audit report

Latest 3 months pay slips

Latest 6 months Bank statements in PDF format

KYC Documents ( PAN & Adhaar)

Employee ID card, Form 16, Previous emp proof if any

Employment less than 1 Yr qualification proof required


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