What to Check After Your Personal Loan Is Disbursed: 6 Important Details

Knowing your HDFC Bank Personal Loan details ensures that your loan repayment period after disbursal goes smoothly. Details like the loan amount, tenure, interest rate, EMI amount, EMI due date and late payment fees can help you understand the loan and repayment schedule. With the HDFC Bank app and NetBanking platform, you can access the loan details from the comfort of your home.

The Personal Loan process does not end once the loan is disbursed. Rather, the disbursal of the loan amount marks the beginning of the repayment phase and goes on until the full amount, including the interest, is repaid. Below are the six important loan details that can help you manage your loan and track your repayment.

Before using the credited loan amount, ensure that it is the same as in the initial loan agreement. This helps prevent discrepancies before it is too late. Comparing the disbursed amount with the amount that was approved also helps spot the loan processing charges, so that you can ensure that the charges were deducted accurately.

The loan tenure refers to the total time period during which you are expected to repay the amount in full. By checking the tenure after disbursal, you can identify how many months you have to repay the amount. The loan tenure determines your monthly EMIs, and checking it post-disbursal can help you plan your repayment accordingly.

The interest rate plays an important role in determining your monthly EMI amount. It also has a significant impact on the total cost of the loan. Knowing your interest rate and tenure post-disbursal can help you draft your monthly EMIs, thereby helping you plan your finances.

Equated Monthly Instalments, or EMIs, refer to the fixed amount that you must pay to the bank every month until the loan is closed. It includes the principal amount and the interest. Checking your EMI after disbursal helps you determine exactly how much money you must set aside every month.

The EMI due date is a fixed date every month by which your Equated Monthly Instalment must be paid. By checking the due date after loan disbursal, you can ensure timely repayment. This can help protect your credit score and avoid potential late payment fees.  

Checking for potential late payment fees helps you be aware of the penalty you may face if you miss your monthly payments. This helps you keep track of your repayment and prevent unexpected charges. Understanding how the penalty may add to your total cost can help you stay on track with your EMIs.

You can either check your loan details on the HDFC Bank app or by logging into the NetBanking portal.

To view the Personal Loan details with your HDFC Bank app:

1. Login with your MPIN.

2. Go to the Loans tab and choose your loan account. 

You can check your loan amount, recent transactions, EMI, and due dates here.

Alternatively, if you wish to view your loan details on the NetBanking platform: 

1. Go to your bank’s NetBanking portal. 

2. Enter the required credentials to login to your account.  

3. Find the Loans tab and select your Personal Loan account. 

Here, you can view your loan amount, outstanding balance, tenure, and EMI.

Getting your Personal Loan approved and disbursed is an important step. However, it is just as important to keep in mind the details that affect your repayment phase once the amount is disbursed. You can review these crucial details by logging into your HDFC Bank app or NetBanking portal.

*Disclaimer: Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Personal Loan at the sole discretion of HDFC Bank Limited.  Loan disbursal is subject to documentation and verification as per Bank's requirement. Interest rates are subject to change. Please check with your RM or closest bank branch for current interest rates.