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HDFC Bank Personal Loan

Apply HDFC Bank Personal Loan

Processing Fee


Max Tenure

5 yrs

Best Rate


View Details


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


  • 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.

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What is a personal loan?

A personal loan is an unsecured (i.e. without collateral), multi-purpose loan usually taken to cover short-term money requirements. Personal loans usually have a speedy approval process hence making it one of the most popular loans in the market.

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

Advantages of HDFC

  • Low interest rate
  • No security needed
  • Less paperwork
  • Long tenure
  • Minimum income requirement

Documentation Required for HDFC Personal Loans

Important documents to be submitted while applying for personal loans with HDFC

  • Completed loan application
  • 3 Passport size photographs
  • Proof of identify (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
  • Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill)
  • Statement of Bank Account/ Pass Book for last six months
  • Form 16/IT returns for the last two financial years for salaried employees
  • IT returns for the three years for self-employed professionals

HDFC Personal Loans

Catering to the needs of various sections of people, tailor-made HDFC personal loans is the best option to fulfil your short-term needs. You can choose the best personal loan based on your requirement.

Features of HDFC Personal Loans

Key Highlights

Eligibility CriteriaSalaried/Self-Employed
AgeAbove 21 years
Loan TenureUp to 60 months
Loan AmountUp to 15 Lakhs
Interest Rate15.75% to 20%


The aim of the HDFC personal loan is to provide financial assistance to fulfil the needs like medical treatment of self or a family member, to meet wedding and travel expenses, education and house repair.

No Collateral Required:

As personal loans are unsecured loans, you do not have to pledge any collateral to obtain HDFC personal loan. However, suitable third-party guarantee is acceptable.

Loan Amount:

ou can get loan up to INR 15,00,000

Loan Tenure:

Up to 5 years

Prepayment Charges:

You can make the prepayment after completing 12 EMIs. Prepayment charges are applicable.

Convenient Borrowing:

You can apply online or visit nearby HDFC branches.

Eligibility Criteria

To avail the personal loans from HDFC, you need to have the following eligibility criteria.

  • You should be 21 years old or above
  • Steady income
  • Salary slip of last 3 months
  • Proper Address Proof and Identity proof

Interest Rate and Other Charges on HDFC Personal Loans

FeeAmount to be Paid
Rack interest rateSalaried - 15.75% to 20%
Loan processing chargesUp to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- amp; Maximum of Rs. 25000/- for Salaried Customers.
PrepaymentSalaried - No pre-payment permitted until repayment of 12 EMIs
Pre-payment chargesSalaried - 13-24 Months - 4% of Principal Outstanding,
25-36 Months - 3% of Principal Outstanding
>36 Months - 2% of Principal Outstanding
No Due Certificate/No Objection Certificate (NOC)NIL
Duplicate of No Dues Certificate/NOCNIL
Solvency CertificateNot applicable
Charges for late payment of EMI24% per annum on amount outstanding from date of default
floating rateNot applicable
Charges for changing from floating to fixed rate of interestNot applicable
Stamp duty & other statutory chargesAs per applicable laws of the state
Credit assessment chargesNot applicable
Non-standard repayment chargesNot applicable
Cheque swapping chargesRs 500/-
Amortization Schedule chargesRs 200/-
Loan cancellation chargesNIL (However client would be charged interest for the interim period between date of loan disbursement and loan cancellation and processing fees would be retained.)
Cheque bounce chargesRs. 550/- per cheque bounce
Legal/incidental chargesAt actual
CIBIL™ Report Copy ChargesRs.50 per copy

Rates offered to customer during the period of April 2017 to June 2017.

IRRQ IV (2017-18)
Min IRR10.25%
Max IRR20.78%
Avg IRR13.09%

Annual Percentage Rate offered to customer during the period of April 2017 to June 2017.

APRQ IV (2017-18)
Min APR10.25%
Max APR23.26%
Avg APR13.32%

Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges Loan at the sole discretion of HDFC Bank Ltd.

EMI Payment Methods

Your HDFC personal loan can be repaid in following three ways.

Standing Instruction (SI):

If you are an existing account holder with HDFC, Standing Instruction is the best mode of repayment. Your EMI amount will be debited automatically at the end of the monthly cycle from the HDFC account you specify.

Electronic Clearing Service (ECS):

This mode can be used if you have a non-HDFC account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.

Post-Dated Cheques (PDCs):

It is recommended that you opt for either the SI or ECS mode of payment for faster and less prone to error than the use of PDCs.

You can submit post-dated EMI cheques from a non-HDFC account at your nearest HDFC Loan Centre. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.

Personal Loan FAQs

1. What are my loan limits?

Your personal loan limit would be determined by your income and repayment capacity.

2. Can my spouse income be included for calculating the loan amount?

Yes, your spouse's income can be included provided he/she guarantees the loan or the loan is taken jointly.

3. Do I have to pledge some form of security?

No Security is Needed

4. What is the repayment schedule like?

The minimum amount that you are expected to pay every month is the EMI. You are allowed to pay more than the EMI if you wish to, and we do not charge any prepayment penalty.

5. What is EMI?

EMI stands for Equated Monthly Instalments. This instalment comprises both principal and interest components. Use the EMI calculator to find out your monthly payments based on the loan amount, the rate of interest and the repayment period. Choose the combination that best meets your financial resources and requirements.

6. What is the processing fee? Are there any other charges?

The processing fee for HDFC personal loan is 2.50% of the loan amount. Processing fees have to be paid upfront.

7. Do I have the option of choosing a fixed or floating rate for the loan?

You have the option to avail the loan with either a fixed interest rate or a floating one. In the case of a fixed rate loan, the interest rate on the loan will remain fixed through the entire tenure of the loan, whereas in the case of a floating rate loan, the interest rate could decline or rise in line with the changes in the Bank's Medium-Term Lending Rate (SBMTLR).

8. How does HDFC Personal loan compare with those offered by other banks?

There is total transparency with regard to the rate of interest and the fees charged by us.

HDFC offers personal loans at the cheapest rates of interest, with no security or collateral

HDFC offer loans for the longest tenors (60 months), with the flexibility provided to reduce the tenor by prepaying the loan without any penalty.

The Bank provides finance for any personal need or requirement; the total amount being determined on the basis of repaying capacity.

With an HDFC personal loan, you can choose between fixed rates of interest and floating interest rates.

9. How can I apply for the HDFC personal loan?

You can either apply online or visit the nearest HDFC loan centre for a personal loan.

10. Will there be any charges for prepayment towards my HDFC personal loan?

There are prepayment charges on HDFC personal loan. You can make the prepayment only after completing 12 EMIs.

HDFC Personal Loans Summary

HDFC provides attractive interest rates on personal loans when compared to other lenders. Low interest rate with no hidden charges makes HDFC personal loans a prospective and viable option for borrowing for your urgent financial requirements. With long tenure and part-prepayment, HDFC personal loans do not impose much burden on the customers.

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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