Your Personal Loan Is Easier to Manage Than You Think — Here’s How

A healthy credit score, better financial planning and peace of mind are just a few of the many reasons loan management is important. Plus, with platforms like Mobile Banking and NetBanking, managing your ongoing Xpress Personal Loan is easier than ever. In this article, we take a look at Personal Loan management tips.

• NetBanking Portal

• Mobile Banking App

Here are some practical tips that can help:

• Check Your EMI Schedule Regularly

Review your EMI dates, amounts, and tenure so you know exactly when payments are due and how long the loan will run. You can easily log into your NetBanking and Mobile Banking portals to check your EMI schedule. 

• Monitor the Outstanding Balance

Keep an eye on how much of the loan is still unpaid. This helps you understand progress and plan future finances better.

• Set EMI Reminders

Typically, the bank will set up auto-debits where the loan EMI will be automatically deducted from the linked account. However, it’s best to set up separate reminders, so you have adequate balance before the EMI date. 

• Save Loan Statements

Maintain copies of loan statements for personal tracking, tax purposes (if applicable), or future reference.

• Plan Prepayments Carefully

If you receive extra funds, check whether partial prepayment or foreclosure is allowed and understand any related conditions.

• Act Early On Issues

If you foresee difficulty in making an EMI, contact the lender early to understand available options.

Here’s why managing Personal Loan is important:

• You can avoid missed payments.

• You can prevent your credit score from declining due to missed payments.

• You can avoid interest charges and late payment.

• You can plan monthly expenses and future goals.

• You may also improve your chances of being pre-approved for a Top Up on Personal Loan.

Manage your HDFC Bank Xpress Personal Loan easily through NetBanking or Mobile Banking App, your one-stop solution to manage/track your loans. Stay informed with reminders and updates related to EMIs. Not just loans, you can also check and a keep a track of everything related to your Credit Cards and Debit Cards, Fixed Deposits, Accounts easily on the platforms at the click of a button, anytime, anywhere. With a long-standing legacy, easy digital access, and consistently high customer satisfaction, trust HDFC Bank to make banking simple, transparent and reliable.

Now that you know how to track and manage your loans easily using HDFC Bank’s NetBanking and MobileBanking platforms, click here to read about getting extra funds easily with the help of a Top Up on Personal Loan

How can I confirm whether my Personal Loan EMI payment was successful?
You can check the transaction status in your repayment history or loan statement or check SMS and email notifications.

How do I avoid missing Personal Loan EMIs?
You can set up reminders to make sure you have adequate balance in your linked bank account for auto-debits. 

Does tracking my loan impact my credit score?
Regular tracking and timely repayments can help you ensure that your credit score is not negatively impacted.

*Disclaimer: Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. Loan disbursement is at the sole discretion of HDFC Bank Limited and is subject to verification and documentation as per the bank’s requirements. Interest rates and offers may vary. Please check the official website for the changes/updates in the application procedure and other details.