• February 3, 2024
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How to close HDFC Personal Loan | Full Process—Step by step 2024

How to close HDFC Personal Loan | Full Process—Step by step 2024

HDFC Bank allows borrowers to make pre-closure or pre-payment of their personal loans. However, you can only prepay your HDFC personal loan after 12 months from the date of loan procurement and after paying 12 EMIs along with applicable foreclosure charges. If you meet these criteria, you have the option to repay your personal loan before the original due date and close your loan ahead of schedule.

How to close HDFC Personal Loan

Close your HDFC personal loan, auto loan, two-wheeler loan, business loan, or consumer durable loan online:-

Step 1
Login to the web link: Click here

How to close HDFC Personal Loan

Step 2
Choose the linked loan you wish to close. Then, select ‘foreclosure request‘ as the type of service. Finally, choose your city and nearest branch from the drop-down menu.

How to close HDFC Personal Loan

Step 3
Choose the reason for closure and confirm once the outstanding loan amount is displayed. Then, save the request

How to close HDFC Personal Loan

Step 4
Click the link received in the SMS and verify using the OTP. Agree to the terms and conditions, then proceed to make the payment on the payment gateway.

How to close HDFC Personal Loan

Voila! Payment completed—your loan is now on its way to closure. You will receive an SMS as soon as the loan is closed in the bank’s portal

Read Also: How to Get PNB Instant Loan


How to close HDFC Personal Loan with video


HDFC Personal Loans Charges for Pre-Closure or Pre-Payment

Salaried applicants can prepay their HDFC Personal Loan only after completing 12 equated monthly installments.
The prepayment charges for salaried applicants are as follows:

  • 4% of the outstanding principal amount for 13 to 24 months.
  • 5% of the outstanding principal amount for 25 to 36 months.
  • 2% of the outstanding principal amount for more than 36 months

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