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HDFC Bank Personal Loan

Apply HDFC Bank Personal Loan

Processing Fee

2.50%

Max Tenure

5 yrs

Best Rate

10.99%

View Details

Features

  • Easy Documentation & hassle free Personal Loan with door step service
  • Faster Process & Approvals
  • No Collateral Required
  • Repayment Tenure from 12 to 60 months

Pricing

  • Interest Rate: 10.99% to 20.75 P.A
  • Processing fee - 0.99 to 2.50 % P.A

Documents Required

  • Application form with 2 photographs, Processing fee cheque
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID
  • Address proof (any one) - Passport,Utility bill, Lease agreement
  • Salaried - Salary slip for 3 months, latest 3 months bank statement with salary credit
  • Self employed - Office address proof, audited financials for last 2 yrs and latest 6 months balance sheet
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HDFC Bank Personal Loans

Headquartered in Mumbai, HDFC Bank Limited is an Indian banking and financial services company. Being the largest private sector lender by assets, HDFC has 84,325 employees, 4,727 branches and 12,220 ATMs across 2,666 cities.  It was ranked 69th in 2016 BrandZ Top 100 Most Valuable Global Brands.

How to Apply for HDFC Personal Loan

CreditMantri Youtube
How to Apply for HDFC Bank Personal Loan - Low interest rate, No security needed, Less paperwork, Long tenure, Minimum income requirement. CreditMantri offers you the best personal loans matched to your credit profile. Create your credit profile, know where you stand on your credit and apply for loans and credit cards that are right for you. Disclaimer: The information presented has been collated from publicly available sources on the internet. CreditMantri is not responsible for any changes in the same.

Why should you choose HDFC Bank Personal Loans?

  • Get flexible and competitive interest rates
  • Women are offered special interest rates 
  • Check eligibility in 5 minutes and enjoy quick loan disbursal within 24 hours
  • Hassle-free documentation that ensures complete transparency. Doorstep document collection also available
  • High loan amount of up to Rs.40 lakhs
  • Get convenient repayment tenures of 12 – 60 months
  • No hidden costs and competitive processing fees
  • Various repayment options to choose from

An Introduction to HDFC Personal Loans

HDFC offers a wide range of services in the personal loan segment. It is the most preferred bank by all kinds of people for any financial service. For any immediate financial requirement like wedding, medical treatments, house repair, pleasure vacation etc. can be fulfilled using the personal loans offered by HDFC. Apply HDFC Personal Loan

Features of HDFC Bank Personal Loans

Competitive Interest rates

HDFC Bank customers can get attractive interest rates on their personal loans. Even non-customers are offered the best interest rates prevailing in the market. The current interest rate starts from 10.99% and can go up to 20% depending on various factors like the applicant’s credit score, salary, existing liabilities, etc.

Specialized loan offers for working women

HDFC Bank is currently running a promotion called the ‘Personal Loan Diva offer’, which gives preferential personal loan offers to working women. This loan product gives 100+ Diva offers to working women to help them achieve their goals or ambitions. They are eligible for a pre-approved personal loan of up to Rs.3 lakhs. Eligible applicants can avail this offer by calling or emailing the bank. Upon expressing your interest in the product, the generates a unique Diva number emails it to you. You have to follow the instructions in the email to verify and avail the loan.

Quick Loan Approval

  • HDFC Bank offers a seamless application process for personal loans. They offer quick loan processing and disbursal within 48 hours of applying.

  • One can check his / her eligibility online in less than a minute. You can also walk in to your nearest branch and find out your eligibility in 10 minutes.

  • HDFC Bank customers can get personal loan funds in their account within 10 seconds. Non-customers can get the loan amount in under 4 hours.

  • The loan is processed within one business day of submitting all the relevant documents.

Online Application Process

HDFC Bank has greatly simplified the personal loan application process to save time and hassle for the customers. You can now apply for a personal loan with a single click on the HDFC Bank website.

Customizable Personal Loans

HDFC Bank personal loans are highly customizable. Whatever your need is, you can get suitable loan terms. Existing customers benefit from special interest rates, charges and offers, while non-customers get a host of first-time customer benefits. Applicants can also enjoy flexible tenures ranging from 12 – 60 months with affordable EMIs.

24*7 Customer Assistance

Customers can get round the clock assistance for any queries or issues regarding their loan account. They can get in touch with the bank through SMS, Webchat, Click2Talk or PhoneBanking.

Get additional protection with Insurance 

Get a Personal Accident Cover of up to Rs.8 Lakhs, and a Critical Illness Cover of up to Rs.1 Lakh for a very less premium. During the disbursement, the premiums for these schemes would be deducted from the loan amount.

Personal Loan Security: You can also opt to secure your personal loan with Sarv Suraksha Pro policy. This policy gives the following benefits:

  • Credit Shield Cover that equals the outstanding loan amount

  • Accidental Hospitalisation cover of up to Rs.8 Lakhs

  • Accidental Death/Permanent Disablement cover of up to Rs.1 lakh

Eligibility criteria to Apply for an HDFC Bank Personal Loan

HDFC Bank Personal Loan can be availed by the following individuals: 

  • Individuals should be between the age of 21 and 60 years of age
  • Should be employees of select private limited companies, employees from public sector undertakings, including central, state and local bodies
  • Applicants should have been in a job for at least 2 years, with a minimum of 1 year with the current employer
  • If you hold an HDFC Bank Salary account:  You should earn a minimum of Rs.25,000 net income per month
  • If you are a non-HDFC Bank Salary Account Holder; the minimum income eligibility is Rs.50,000 net income per month

What are the documents to be submitted to avail an HDFC Bank Personal Loan?

Applicants should submit the following documents to process their personal loan application:

Identity proof

  • Copy of passport
  • voter ID card
  • driving license
  • Aadhaar

Address proof 

Latest bank statement of past 3 months or Bank Passbook of previous 6 months

Two latest salary slip/current dated salary certificate with the latest Form 16

Proof of End use

Interest charges and other fees:

Particulars

Charges

Rack interest rate

10.75% to 21.30%

Loan processing charges

2.50% of the loan amount 

Minimum Rs. 2,999

Maximum Rs. 25,000

Prepayment in Part or full

No pre-payment in part or full permitted until repayment of 12 EMIs
25% Part-payment allowed from the principal outstanding. It is allowed only once in the financial year and twice during the loan tenure.

Pre-payment charges

13-24 months - 4% of principal outstanding,
25-36 months - 3% of principal outstanding
>36 months - 2% of principal outstanding

Loan closure letter

NIL

Duplicate loan closure letter

NIL

Solvency certificate

Not applicable

Overdue EMI interest

2% per month on EMI / Principal overdue

Floating rate

Not applicable

Charges for changing from floating to fixed rate of interest

Not applicable

Stamp duty & other statutory charges

As per applicable laws of the state

Credit assessment charges

Not applicable

Non-standard repayment charges

Not applicable

Cheque swapping charges

Rs. 500

Amortization schedule charges

Rs. 200

Loan cancellation charges

NIL

Cheque bounce charges

Rs. 550 per cheque bounce

Legal/incidental charges

At actual

HDFC Bank Personal Loan FAQs:

1. What can the HDFC Bank Personal Loan amount be used for?

There are no limitations on what the Personal Loan Funds can be used for. You can utilize it for a variety of reasons. You can use it to fund for vacations, wedding costs, medical expenses or care, purchasing of new technological devices, use of home improvement and several other purposes.

2. How can I repay my Personal Loan?

There are two ways to pay your monthly EMIs for your personal loan. You can set up an auto debit instruction from your bank account or login to your HDFC Bank account to pay it online.

3. How long does it take for the personal loan application to be processed?

HDFC Bank Personal Loan will be processed and disbursed within 24-48 hours of submitting all the required documents.

4. How can I track my personal loan application?

You can visit the HDFC Bank website to track your application online with your mobile number or Loan Application number.

5. Can I make part payments towards my personal loan account?

You can make part payments only after you have completed 12 EMI payments.

Hdfc Bank Personal Loan - Customer Reviews

4 / 5 (876 Reviews)
3 Jan 2020

Nice bank

12 Jul 2018

Very good

17 Jun 2018

Very nice

9 May 2018

It was very fast. Excellent.

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