HDFC PERSONAL LOAN

HDFC Personal Loan

HDFC Bank offers customers with the opportunity to avail Personal Loan at lowest interest rates. Customers can easily meet their varied financial requirements like a medical emergency, wedding, travel, debt consolidation etc. through this Personal Loan facility offered by HDFC Bank.

  • HDFC Personal Loans can extend funding of up to Rs. 25 lakhs for any purpose depending upon the requirement of the applicant.
  • Simplified documentation & speedy approvals are an extra advantage which provides benefits to the customers when it comes to handling finances.
  • No need to submit a collateral or security to lender to avail a personal loan.
  • If you transfer your existing loan to HDFC Bank, you will be charged a very reasonable interest rate of just 11.75% p.a.
  • The loan amount is received within a day of applying for the loan.
  • A host of benefits available for first-time loan availing customers.

Types of Personal Loans by HDFC

Find some of the most sought after Personal Loans types offered by HDFC Bank:

  • Personal Loan for Wedding
  • Personal Loan for Education
  • Personal Loan for Travel
  • Personal Loan for Home Renovation
  • Personal loan for debt consolidation & other purposes

Fees and Charges

The mentioned below are the fees and charges applicable that are levied by HDFC Bank are as follow:

Salaried EmployeeSelf-Employed
Duly filled up Loan Application formDuly filled up Loan Application form
2 Passport sized photographs2 Passport sized photographs
Identity Proof – Passport/ Driving License/ Voter ID/ PANIdentity Proof – Passport/ Driving License/ Voter ID/ PAN
Residential Address Proof – Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), PassportResidential Address Proof – Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debitBusiness proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

Advantages of HDFC Personal Loan

Numerous benefits & advantages are offered by HDFC for Personal Loan availing customers. Some of them are as follow:

  • Quick & hassle-free online application process
  • Starting loan amount is from Rs. 50,000 to Rs. 40,00,000.
  • Existing HDFC Bank customers can benefit from special rates & loan approvals in 20 seconds and rest customers can avail in 4 hours.
  • Get insured and avail a Personal Accident Cover of up to Rs. 8 Lakhs. You can secure your Personal loan from HDFC Bank with Sarv Suraksha Pro, which provides a credit shield cover, an accidental hospitalization cover, etc.
  • Minimal documentation as process is fully digitalized.
  • Get low & revised interest rates by transferring the existing personal loan to HDFC Bank.
  1. Avail interest rates as low as 11.75% on existing loan transfer.
  2. Avail flat processing fee of only Rs. 1999.

Eligibility Criteria for applying for HDFC Personal loan

To avail a Personal Loan from HDFC Bank, following requirements you will need to meet the eligibility criteria.

  1. One must be employed at a Private company, a public sector company, or with a state, central or local government body.
  2. One must be over the age of 21 years and maximum age for applying for Personal loan is 60 years.
  3. Overall work experience of at least 2 years one must have.
  4. Applicants should have been employed at their present organization for a minimum of 1 year.
  5. Minimum income of Rs. 20,000 per month for a person in metropolitan cities and rest cities residents should earn at least Rs. 15,000 per month.
  6. If your income level or credit score is lower than the requirement of the lender, you can bring in a co-applicant (spouse, father, or other eligible co-applicants) to apply for HDFC Personal Loan to increase your eligibility.

Essential Documents required

HDFC customer with KYC complaint can get a personal loan with no documentation.
For Non-HDFC customers, documentation process is easy & hassle-free.
Before you apply for a personal loan from HDFC Bank, ensure that you go through the loan particulars, check your eligibility, and are familiar with the terms and conditions of the lender.

Check your eligibility and fill in the Business Loan Application FormCompare various Business Loan options, and apply for the best optionAfter successful submission of the application get an instant e-approval

Procedure for applying for HDFC Bank Personal Loan Online

In order to apply for a loan through our website, you have to follow a few simple steps:

First, register with us by providing the following details:

  • 1. Your gender
  • 2. Name, phone number, and email ID
  • 3. Nature of your current occupation
  • 4. Details of your current income
  • 5. Details of your current employer
  • 6. Loan amount required

For further queries you can go through www.hdfcbank.com

Know more about HDFC Personal Loans – FAQs

Q. How much amount can be borrowed as Personal Loan from HDFC Bank?

A. Personal loans start from Rs. 50,000 and goes up to Rs. 40,000. This might vary as per the financial status of the loan applicant.

Q. What is the Interest rate of Personal Loan from HDFC Bank?

A. The bank charges rack interest rate ranging from 11.25% – 18% per annum on the outstanding balance of the HDFC Bank.

Q. Can business owners take personal loans from HDFC Bank?

A. No, only to salaried individuals HDFC Bank offers Personal Loan.

Q. What do banks look at when applying for a personal loan?

A. The banks consider the following factors when looking at a personal loan application:

  • 1. Age
  • 2. Monthly Income
  • 3. Credit Score
  • 4. Credit History
  • 5. Documents
Q. How can I get in touch with HDFC bank in case of queries and complaints?

A. One can contact the HDFC Bank executives through email www.hdfcbank.com/services mentioning the particular concern along with the following documents:

    • 1. Loan Account number
    • 2. Name of the Applicant / Loan favoring
    • 3. Applicant’s date of birth
    • 4. Correspondence address
    • 5. EMI Amount
    • 6. Loan Amount
    • 7. Mode of repayment (ECS/Standing Instruction/Post-dated cheques
    • 8. Query/Complaint
    • 9. Bank name and account number from which the EMIs are collected
Q. Can I calculate my EMI before Personal Loan sanction?

A. Yes, you can calculate how much EMI amount you need to pay through EMI CALCULATOR

Q. What does Loan Guarantor mean?

A. Loan Guarantor is an individual who guarantees to repay the applicant’s debt in case the applicant defaults on a loan obligation.

Q. Does HDFC offer pre-approved Personal Loan facility?

A. Yes, HDFC offers pre-approved Personal Loan to its existing customers

QUICK OVERVIEW
Interest Rate starting from 11.25% – 17.50%
Loan amount varying from Rs.50,000 to Rs. 40 Lakhs
Processing Fees up to 2.5%
Quick approval and disbursal rate
Host of benefits available for first-time Personal Loan customers