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In this article, we will explore the eligibility criteria, maximum loan limits, necessary documentation for loan applications, and a step-by-step guide on the HBL salary loan application process.
Whether you are launching a business, constructing a home, or addressing any other pressing need, you can get this salary loan from any branch of HBL Pakistan.
Here’s the overview of the “HBL Salary Loan”:
| Aspect | Details |
|---|---|
| Loan Amount | PKR 25,000 to PKR 3,000,000 |
| Repayment Tenure | 12 to 48 months |
| Markup/Interest Rate | 35.99% |
| Eligibility Criteria | – Salaried individuals |
| – Age: 21 years or older at the time of application; maximum age of 60 at loan maturity | |
| Loan Features | – Loan amount options from PKR 25,000 to PKR 3,000,000 |
| – Flexible repayment terms | |
| – Option to boost loan every 12 months | |
| – Life insurance coverage included | |
| Documentation Required | – Verified copy of CNIC |
| – Verified copy of salary slip | |
| – Employer letter (if applicable) | |
| – Terms and conditions acknowledgment | |
| Benefits | – Effortless accessibility |
| – Paperless application process | |
| – Streamlined verification process | |
| – Convenient application from home via HBL Mobile App | |
| How to Apply | 1. Initiate loan application through HBL Mobile App |
| 2. Review and confirm | |
| 6. Submit E-Declaration | |
| 7. Accept terms & conditions | |
| 8. Congratulations! | |
| Contact Information | – Website: https://www.hbl.com/ |
| – Phone Number: 111-111-425 |
Having said that, let’s start our guide and we will explore all the necessary details together. Here we go!
Recommended Reading: Advance Salary Loan (Get PKR 25K-30Lakh Salary Loan) [Sharia-Compliant]
HBL Salary Loan (Get PKR 25K-30Lakh Salary Loan In Pakistan) [Sharia-Compliant]
Table Of Contents
What Is An HBL Salary Loan?
HBL Personal Loan emerges as a valuable opportunity for individuals across Pakistan. The following table shows its key features:
| Aspect | Details |
|---|---|
| Loan Type | HBL Personal Loan |
| Target Audience | Individuals across Pakistan, especially aspiring entrepreneurs and young individuals with diverse ambitions |
| Loan Amount Range | PKR 25,000 to PKR 3,000,000 |
| Repayment Tenure Options | 12 to 48 months |
| Flexibility | Borrowers can select their preferred repayment duration |
| Purpose | Accommodating various financial needs and business aspirations |
HBL Salary Loan Eligibility Criteria
Details outlining the eligibility criteria for the HBL Salary Loan are as follows:
- Preference for Salaried Individuals: The HBL Salary Loan is tailored to cater specifically to salaried individuals, emphasizing those whose monthly salaries are credited to an HBL account.
- Age Requirement: Applicants seeking an HBL Salary Loan must meet an age criterion, being 21 years or older at the time of loan application. The maximum age limit for eligibility extends up to 60 years at the time of loan maturity.
HBL Salary Loan Features
- Loan Amount Options: Avail loan amounts tailored to your needs, ranging from a minimum of PKR 25,000 to a substantial maximum of PKR 3,000,000.
- Flexible Repayment Terms: Enjoy the flexibility of selecting your preferred repayment duration, ranging from a minimum of 12 months to a maximum of 48 months.
- Boosting Your Loan: Experience an additional benefit as you can give your loan a boost every 12 months.
- Life Insurance Coverage: As an added advantage, the HBL loan package includes special life insurance coverage.
HBL Loan Calculator
For an HBL loan of PKR 300,000, the applicable interest rate is 35.99%, acting as an additional cost on the total loan amount. Regardless of the chosen repayment duration, such as a 12-month term, the total amount to be repaid, inclusive of interest and taxes, is calculated to be PKR 3,607,584. This indicates that an extra amount of PKR 607,584 is attributed to the interest component, which is crucial for borrowers to factor into their repayment planning.
Documents Required For HBL Salary Loan
- Verified Copy of CNIC (Computerized National Identity Card): During the application process, applicants must furnish a verified copy of their CNIC. This document serves as a primary identification requirement and is vital for the seamless processing of the HBL Salary Loan application.
- Verified Copy of Salary Slip: Submission of a verified copy of the latest salary slip is a mandatory document for applicants.
- Employer Letter (if Applicable): For employed individuals, an additional requirement may include submitting a letter from the employer. This document adds an extra layer of verification and validation to the application process.
- Terms and Conditions Acknowledgment: Applicants are required to familiarize themselves with the terms and conditions associated with the HBL Salary Loan.
HBL Salary Plus: Benefits and Features
HBL salary loan is also called “HBL Salary Plus”, here are its benefits and key features:
| Aspect | Details |
|---|---|
| Loan Type | HBL Salary Plus |
| Target Audience | Salaried individuals |
| Eligibility Criteria | Monthly salaries credited to an HBL account |
| Loan Amount Range | PKR 25,000 to PKR 3,000,000 |
| Repayment Tenure Options | 12 to 48 months |
| Flexibility | Borrowers can select their preferred repayment duration |
| Additional Features | – Option to boost loan every 12 months |
| – Life insurance coverage included | |
| Documentation Required | – Verified copy of CNIC |
| – Verified copy of salary slip | |
| – Employer letter (if applicable) | |
| – Terms and conditions acknowledgment | |
| Benefits | – Effortless accessibility |
| – Streamlined verification process | |
| – Convenient application from home via HBL Mobile App |
How To Apply For HBL Salary Loan Online
- Step 1: Apply for Your Loan
- Upon logging into the app, initiate your loan application by clicking on the popup that appears.
- Step 2: Confirmation of Evaluation
- Receive notification that your loan evaluation has commenced.
- Step 3: Evaluation Completion
- Following the evaluation, receive confirmation through an SMS and a popup on the app, assuring you that the assessment is completed.
- Step 4: Choose Your Loan
- Explore a curated list of loan options tailored to your needs. Select the one that aligns best with your financial requirements.
- Step 5: Review and Confirm
- Double-check the details of your chosen loan and proceed to confirm the application if everything appears satisfactory.
- Step 6: Submit E-Declaration
- Confirm that you have not taken any other loans in the past 90 days by submitting the E-Declaration.
- Step 7: Accept Terms & Conditions
- Once in agreement, witness the instant deposition of your approved loan amount into your account.
- Step 8: Congratulations!
- Celebrate the successful completion of the process and utilize your loan to achieve financial independence.
- Step 9: If You Choose “No”
- Opting not to proceed at any point is hassle-free. Choosing “No” will seamlessly redirect you back to the home screen.
Contact Information
- Website: Access comprehensive information and seek online assistance for HBL Salary Loans by visiting the official website at https://www.hbl.com/.
- Phone Number: 111-111-425.
Recommended Reading: Advance Salary Loan (Get PKR 25K-30Lakh Salary Loan) [Sharia-Compliant]
FAQs | HBL Salary Loan
What is the loan range offered by HBL for its Personal Loan?
HBL provides a diverse loan range, starting from PKR 25,000 and extending up to a substantial amount of PKR 3,000,000.
What is the repayment tenure available for the HBL Salary Loan?
Borrowers can choose a flexible repayment tenure, ranging from a minimum of 12 months to a maximum of 48 months.
What documentation is required for an HBL Salary Loan application?
Necessary documents include a verified copy of CNIC, a verified copy of the latest salary slip, and, if applicable, an employer letter.
Can HBL Salary Loan applicants benefit from life insurance coverage?
Yes, the HBL Salary Loan includes special life insurance coverage as an additional advantage.
How is the total repayment calculated for a loan amount of PKR 300,000 with a 12-month tenure?
For a loan amount of PKR 300,000 with a 12-month tenure, the total repayment, including interest and taxes, amounts to PKR 3,607,584.
What is the process for applying for an HBL Salary Loan through the HBL Mobile App?
Apply for Your Loan: Initiate the application by clicking on the popup upon logging into the app.
Confirmation of Evaluation: Receive notification that the loan evaluation has commenced.
Evaluation Completion: Get confirmation through SMS and a popup on the app after the evaluation is done.
Choose Your Loan: Select from a list of tailored loan options.
Review and Confirm: Double-check the chosen loan details and confirm if satisfactory.
Submit E-Declaration: Confirm no other loans taken in the past 90 days.
Accept Terms & Conditions: Agree to the terms, and your loan amount will be instantly deposited into your account.
Congratulations!: Celebrate the successful completion of the process.
How can one obtain more information or assistance regarding HBL Salary Loans?
For detailed information and online assistance, individuals can visit the official HBL website at https://www.hbl.com/ or contact HBL directly at the phone number 111-111-425.
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