• If the savings account does not have sufficient funds, you will be liable to pay applicable charges as indicated in the
loan account statement. Auto Debit return penal interest 2% on payment amount subject to minimum Rs.300 will be
levied.
• If you cancel your loan, interest will be charged only if you have utilized the funds. If the funds have not been
utilized, this interest is not applicable. For utilized funds, interest will be calculated between the date of loan
booking and cancellation, according to the bank’s internal guidelines.
Customers without HDFC Bank Savings Account: A separate new account for Insta-Jumbo Loan will be
generated on the Credit Card. The EMI for the loan needs to be paid by the customer through Cheque Kindly
mention the 16-digit Jumbo Loan number on the cheque. The payment of Insta-Jumbo is to be paid apart from
the bill amount on the primary HDFC Bank credit card.
• In case of skipping the payment due date, you will be liable to pay applicable charges as indicated in the loan account
statement. Penal interest 2% on payment amount subject to minimum Rs.300 will be levied.
• Non-payment or partial payment of EMI outstanding will attract late payment penalty of Rs.500 plus GST irrespective
of EMI amount outstanding. No finance charge will be levied on non-payment or partial payment of EMI outstanding.
• Processing fees will be levied during the immediate billing cycle post loan disbursement.
• Now, your loan is secured against inevitable/ unforeseen accidental death. The customer's liability towards principal
outstanding will be covered and the amount paid up by the customer already will be settled to the nominee/appointee
upon raising the claim with the insured. Any sum insured amount up to maximum of Rs 10 lac and tenure up to 60
months will be secured under this feature. To initiate the claim, the nominee/appointee need to update bank about the
demise of the insured. Post which they can raise claim with the insurance company for balance settlement.
• The loan will be secured with an Accidental Death Insurance Coverage without any additional cost to the customer.
This insurance will cover principal loan amount till the loan tenure and in case of cancellation, closure or pre-closure
the insurance policy will cease to exist. In case of accidental death of customer, their nominee/appointee need to raise
claim with HDFC Ergo General Insurance Company to avail policy benefits. For any queries on the same, please
contact: 022-6234 6234
/
0120-6234 6234 o
r write to h
ealthclaims@hd
fcergo.com
/
[email protected]m.
• Partial pre-payment or partial closure is not permitted on this loan.
• The loan once approved & Processed can only be pre-closed. In case of pre-closure of the loan, a charge, currently
3% of the balance principal outstanding will be applicable. Tenure confirmed at the time of booking cannot be changed.
In case of pre-closure of the loan, a charge, currently 3% of the balance principal outstanding will be applicable.
• Along with pre-closure charges, and pro-rata interest is also payable. As the pre-closure charge is subject to change,
we request you to contact PhoneBanking for the applicable charge if you decide to pre-close the Loan. HDFC Bank
reserves the right to revise the pre-closure penalty at its discretion. Additional interest if any on the principal outstanding
from last statement date till date of loan pre-closure needs to be paid by customer.
• GST is applicable on the following:
▪ Processing fees
▪ Pre-closure charges
Effective 1-Ju17-2017, GST is 18%, subject to change and will be applicable as per Govt. regulations
Goods and Services Tax (GST)
· The applicable GST would be dependent on place of provision (POP) and place of supply (POS).If POP and POS
is in the same state then applicable GST would be CGST and SGST/UTGST else, IGST.
· GST For FEE & Charges / Interest transactions Billed on statement date will reflect in next month statement.
· GST levied will not be reversed on Any dispute on Fee & Charges / interest.
• Prior to completion of the Loan / Pre-closure whichever is earlier, you cannot withdraw / cancel auto debit
instruction on your loan.
Customers without a HDFC Bank Savings Account:
HDFC Bank Account in active status with single ownership is mandatory to avail the loan. The loan amount will be
disbursed as Demand Draft to billing address. The loan once approved and processed cannot be cancelled.