HDFC bank has introduced a new niche for salaried employees and aims to help them with any emergencies that may crop up. Salaried employees will get attractive benefits from HDFC bank if they apply for a personal loan. The major benefit is the low-interest rates. 

For salaried employees, their financial planning is done around the month-end as the salary gets credited to their accounts at that time. The salaried employees might sometimes find it difficult to cope with any medical emergencies or unexpected expenses that occur in the middle of the month. With HDFC bank personal loan you can easily avail yourself of a loan at affordable interest rates and be worry free regarding your financial planning.Read on to know more about personal loans for salary accounts.

Features of HDFC personal loans for salary accounts

The HDFC personal loan comes with attractive features for salary accounts

Easy and instant disbursals

The HDFC personal loans have disbursals as early as four hours of time within the completion of the application. The process is even shorter if you are an HDFC pre-approved customer. The application is easy and simple.

Interest Rates

If you have a good credit history and a good Credit Score , HDFC offers interest rates starting from 10.5%. These are competitive interest rates and can be negotiated with good credit history.


The tenure offered by HDFC personal loans for salaried employees is flexible. This tenure ranges anywhere from 12 to 60 months. Since the tenure is flexible, it becomes easy for salaried employees to repay the loan.

Hassle-free access to funds

The personal loan offered by HDFC to salaried employees makes sure that there is no hurdle when it comes to planning for any significant purchase or financial goal setting. This loan ensures easy access to funds by all salaried employees.

Prepayment Facility

The salaried employees can prepay their loan amount either in part or in full after 12 EMIs are repaid. The bank allows part-payment of up to 25% of the principal outstanding once in a financial year and twice during the entire loan tenure. If this facility is used, the prepayment charges range from 2%-4%.

No restrictions on the end use of funds

This clause can be called flexibility of using funds. There is no restriction for the end use of the funds that are borrowed by salaried employees from HDFC bank as a personal loan. Some of the end uses of these loans are family weddings, home renovation, paying off an existing debt etc.

Minimal documentation 

Since the entire process of loan application is online, this eliminates the need for extensive paperwork for the same. The bank requires a few basic documents while processing the loan application. Some of these documents include identity proof, address proof etc. If you are an HDFC pre-approved customer, you need not submit even these documents to the lender.

HDFC Personal Loan Eligibility Criteria for Salaried Personal

Salaried professionals have to meet the following criteria for getting a personal loan

  • You must be a salaried employee at the selected private limited company or a public sector undertaking
  • You must be between the age of 21-60 when you apply for the loan. The maximum age till which the loan maturity is allowed is 60.
  • You should have a working experience of a minimum of 2 years and experience of working at least 1 year with your current employer
  • The minimum monthly income requirement for a salaried professional is Rs. 25,000 or above.

Documents Required by Salaried Applicants for HDFC Personal Loan

If you are eligible considering the above factors then the following are the documents needed for a salaried applicant

  • Identity Proof - A valid PAN card, Aadhaar card or passport is required
  • Address Proof - A valid Aadhaar card, passport or electricity bill is required
  • A bank statement of the previous 3 months or a passbook copy of 6 months is required
  • The latest salary slip or a current dated salary certificate with form 16 is required
  • Proof of end use of the loan is also required.

Benefits of a personal loan as a salaried person with HDFC

  • Since there is no restriction in respect to the end use of funds, these loans can be used for multiple purposes. This makes the loan even more attractive for salaried individuals.
  • There is no need for any collateral or security while applying for this loan
  • The documentation process is minimum and no documentation is required for existing customers
  • The disbursal of funds is instant 
  • The interest rates are competitive 
  • The tenure of the loan is flexible and the EMIs are very pocket friendly


The HDFC personal loan interest rate for salaried borrowers in ranges from 10.5% to 20.5% per annum. The interest rates depend upon various factors such as credit score, income, repo rate, marginal cost lending ratio of the bank, gender etc. Apart from the interest rate, there is a processing fee of 2.5% of the sanctioned loan amount. This fee is a minimum of Rs. 2,000 and a maximum of Rs. 25,000 for salaried customers.

The salaried borrowers can prepay the loan amount with a fee ranging between 2% - 4% of the outstanding loan amount.

FAQS of  HDFC personal loans for salaried employees

1:What is the disbursement time for HDFC personal loans for salaried employees?

The loan is disbursed as early as 4 hours from the application being submitted by the borrower.

2:How much loan can I take as a salaried person?

The HDFC personal loan for salaried individuals ranged between Rs. 40,000 to Rs. 40 lakhs for borrowers.

3:How can I apply for a personal loan with HDFC?

A personal loan can be applied for through a mobile app, net banking or a physical application.