HDFC Personal Loan Payment: How to Pay Loan

HDFC Bank personal loan can be availed for various purposes such as travel, home renovation, consumer durables purchase, medical emergencies and various other personal financial requirements. Repayment of these popular unsecured loans is also easy as customers can now make HDFC personal loan online payments through various online modes including net banking and the HDFC mobile app. HDFC Personal Loan login process is simple and easy. Customers can make repayment of loan through post-dated cheques or ECS mandate.

How to Pay Loan EMI Online

Making online loan payment can be made through two different ways i.e. Online and Mobile App.

1. Through HDFC Internet Banking

Customers can pay loan EMI through online mode by simply visiting the official website of HDFC Bank. You are required to enter your login credentials and then login. After successful login, you can select the appropriate loan account and proceed further to make payment of loan EMI using your HDFC Bank account balance.

2. Using HDFC Mobile App

HDFC offers mobile app feature to its customers. Customers can download HDFC mobile app on their Android or iOS devices through Google Play Store or Apple Store respectively. After logging in to the app, click on the payment tab and then click on personal loan. Now you can make the loan EMI payment through mobile app.

3. Other Online Loan Payment Options: 

Customers are provided with multiple options to pay EMI. Mentioned below are some of the ways through which customers can pay EMI:

Paytm: For this, customers are required to login to their paytm account and then click on loan repayment. Now you are required to choose HDFC Bank and then proceed to pay EMI.

Bank Cheque: Post-dated cheques drawn on same bank/any nationalised bank is accepted.

NEFT/RTGS: This process can also be adopted while making loan EMI payment using a bank account other than HDFC account.

Billdesk: Customers can also pay EMI through Billdesk. For this, they are required to enter Loan no. and Date of Birth as per bank records is order to make transaction for EMI payment. Then the payment can be made using any bank account in India.

Offline HDFC Bank Personal Loan Repayment

Cheque/Draft: Post-dated cheques and drafts drawn in favour of HDFC Bank loan account can be used to make HDFC Bank personal loan EMI payments offline. Do note that cash is no longer accepted by HDFC Bank for offline repayment if retail segment loans such as unsecured personal loans.

Standing Instruction/NACH Mandate: Another popular method of automatic payment of EMI directly from your bank account is the Standing Instruction (SI) or National Automated Clearing House (NACH) mandate. This has to filled out and submitted with the bank and the EMI will be automatically deducted from the HDFC or other bank account as per the EMI dues date. Now you can also register for e-NACH mandate through the HDFC Bank website.

How to check loan statement

Customers are required to follow the below mentioned steps to check loan statement:

• Log in to NetBanking
• Choose the Loan Tabs and select ‘Register New Loan’
• Enter your details
• Click on ‘submit’
• You will get an OTP on your registered phone. Enter it to complete registration

Contact Details for Payment Related issues

For queries, issues and complaints related to personal loan repayments, customers can get in touch with the bank’s customer care department over the phone between 8.00 am and 8.00 pm on all days (including Sundays). HDFC Bank Personal Loan customer care phone numbers for various cities are as follows:

FAQs

1. What if the EMI is not paid on time?

Ans. If you fail to pay EMI on time, it will adversely affect your credit score. In addition to this, bank will charge a penal rate of interest at 2% per month on the outstanding principal amount till payment is made.

Also Read: What factor has the biggest impact on a credit score?

2. What are the charges of late payment?

Ans. Mentioned below are some of the charges related to late payment of HDFC Bank personal loan EMI:

• Overdue EMI interest: 2% per month on loan principal amount overdue
• Cheque Bounce Charges: 550 per instance of cheque bounce

3. What to do if payment is debited but not shown in the app?

Ans. Under this circumstance, customers are required to call customer care number and get their issue resolved.

4. Can I pay my HDFC Bank Personal Loan using cash?

Ans. No. Cash is no longer allowed as a payment option for HDFC personal loan EMI by the bank.

5. How do I register a NACH mandate for payment of HDFC personal loan EMI?

Ans. You can either submit the filled out NACH mandate paper form with HDFC Bank or you can register your e-NACH mandate online on the HDFC Bank official website. This will enable automatic EMI payments from your bank account so that you don’t have to worry about missed payments as long as you have sufficient account balance.