HDFC Bank Personal Loan

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About HDFC Bank

Housing Development Finance Corporation was established in the year 1994, headquartered in Mumbai. The bank initiated its operations as commercial bank in January, 1995. HDFC Bank offers an extensive range of financial products and services including several loan products such as personal loan, business loan etc. The bank has also been honored as India's largest private sector lender by assets.

Special Offers

  • Funds credited into your account within 4 hours
  • Minimum paperwork
  • Personal Loan eligibility check in 60 seconds
  • Personal Loan Accidental cover up to 8 Lakhs
  • Personal Loan Balance Transfer available

About HDFC Bank Personal Loan

You can fulfil your requirement of immediate cash with HDFC Bank Personal Loan. There are certain events such as wedding, vacation, home renovation etc. for which you need instant cash. HDFC Bank offers personal loan with a simplified documentation and at low rate of interest.

HDFC Bank Personal Loan

 

Loan Amount

  • Minimum 1 Lakh
  • Maximum 50 Lakhs

Loan Tenure

  • Minimum 12 months
  • Maximum 60 months

Loan Processing Fee

Up to 2.5% of the loan amount

Loan Turnaround Period

Loan approval within 4 hours of the submission of all the loan related documents

Personal Loan can be used for

Marriage expenses, home improvement, and other personal expenses

Loan Applicants

Salaried individuals, self-employed business owners, and self-employed professionals

Type of Interest rate

Fixed and floating rate of interest

Loan Pre-payment

Allowed after 12 months of the date of loan disbursement

Documentation

  • KYC - Aadhaar Card and PAN Card 
  • Address Proof:
    • Ration Card, Telephone Bill, Electricity Bill, Rental Agreement, Passport, Bank Statement, Driving License, Post Paid Mobile Bill, Passport.
  • Job Continuity Proof:
    • Form 16 or Relieving Letter
  • Other Documents
    • Bank Statement for last 6 months
    • Salary slip for last 3 months
    • 1 Passport-sized Photograph
    • Security Cheques - 3

HDFC Bank Personal Loan Features & Benefits

  • Quick Loan Approval: HDFC Bank offers a personal loan with the quick approval. The bank approves the loan within 4 hours of submitting the application form along with the required loan documents.
  • Balance Transfer: The borrower can transfer his or her personal loan from another bank to HDFC Bank to save interest cost.
  • Personal Accident Cover: The borrower can avail personal accidental cover of up to 8 Lakhs. The premium amount for the same would be deducted at the time of loan disbursement into the loan amount.
  • Simplified Documentation: The borrower can apply for HDFC Personal Loan with the minimum documents.
  • Loan Turnaround Period: HDFC Bank disburses a personal loan into the loan account within two days of the loan approval.

Fees & Charges

Pre-payment fee = 4% of outstanding loan amount after 1 year

Why apply for HDFC Bank Personal Loan?

HDFC Bank Personal Loan can be availed for the following:

  • Wedding expenses
  • Home renovation
  • Medical expenses
  • Overseas travel Starting a new business or even in times of unexpected financial crunch

Apply for a Personal Loan

HDFC Bank Personal Loan Eligibility Criteria

Eligibility Criteria

 

Age

  • Minimum- 21 years (Loan commencement)
  • 60 years (at the time of maturity)

Income

Minimum 15,000 (Salaried Employees)

Job Stability

  • Minimum 2 years
  • At least 1 year with current employer

Credit Score

750 and above

Other

Location including Mumbai, Delhi, Bangalore, Hyderabad, Pune, Kolkata, Ahmadabad and Chennai

Eligible Applicants

Salaried Doctors, CAs, Employees of private and public limited companies

  • Interest Rate 11.20% - 16.99%
  • Loan Amount 1L - 35L
  • Processing Fee 999 - 2%
  • Tenure5 Years

  • Quick Apply

HDFC Bank Personal Loan Fees & Charges

 Type of Charge Amount of Charge
Loan processing fee
  • Up to 2.50% of loan amount
  • Min. 2,500 to Max. 25,000 (Salaried employees)
Pre-payment charges  4% of outstanding loan amount (After 1 year)
Charges of late payment of EMI  24% p.a. on outstanding amount from date of default
Credit Report copy charges  50

HDFC Bank Documentation

 Type of Document 
 Application form
  • Duly filled application form with two photographs cross-signed
 Identity Proof

 Any one of:

  • Passport
  • Voter ID
  • Aadhar Card
  • Driving License
 Income Proof 
  • Latest salary slips (for 3 months)
  • Form 16 (latest)
  • Current dated salary certificate
 Address Proof

 Any one of:

  • Passport
  • Voter ID Card
  • Aadhar Card
  • Valid Driving License

 

Other documents
  • Bank statement (latest 3 months)

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EMI CALCULATOR

EMI Calculator

EMI Calculator

Loan EMI

Total Interest Payable

Total of Payments
(Principal + Interest)