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HDFC Personal Loan EM

HDFC Personal Loan EM

4.4

Max Tenure

12 - 72 Months.

Best Rate

10.99%

Processing Fee

2.50%

Currently not available! for similar products

HDFC Bank Personal Loan

HDFC Bank Personal Loan

4.4

Max Tenure

12 - 72 Months.

Best Rate

11.04% P.A.

Processing Fee

2.50%

Currently not available! for similar products

Sorry! We couldn't find any offer matching this category.

Quick Links To Handle Your Personal Loan

HDFC Bank Personal Loans

HDFC bank offers personal loans starting from 10.50% per annum, up to Rs. 40 Lakhs, and with flexible tenures of up to 5 years. Apply for an HDFC bank personal loan with CreditMantri and enjoy the benefits.

How to Apply for HDFC Personal Loan

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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.

Highlights of HDFC Bank Personal Loans

Interest rate 10.5% to 21%
Loan Amount Up to Rs. 40 Lakhs
Tenure 1 to 5 years
Minimum Monthly Salary Rs. 25,000
Processing fees Up to 2.50%

Comparison of HDFC Personal loan interest rate With Other Lenders

LenderInterest RatesProcessing Fees
HDFC11.00% onwardsUp to 2.50%
ICICI10.75% onwardsUp to 2.50%
SBI 10.30%-15.10%Upto 1.50%
Citibank9.99% p.a. To 16.49% p.a. 0.25% to 3.00%
Axis 10.25% onwards 1.5% to 2%
IndusInd 11.00%2.5% onwards
Yes Bank 10.99% per annum onwards2.50% (one-time fee)
Shriram City 11.49% p.a. To 23% p.a.2.50%
Apply HDFC Personal Loan

Benefits of HDFC Bank Personal loan:

  • Hassle-free online loan application process
  • Instant disbursal - HDFC bank customers can get a loan in 10 seconds while others in 4 hours.
  • No end usage restriction of funds
  • Customizable personal loans
  • 24/7 personal loan customer care service
  • No collateral for the loan
  • Easy documentation
  • Pocket friendly repayment
  • Specialized loan offers for working women

Eligibility Criteria For HDFC Bank Personal Loans

Age 21 to 60 years
Employment Type You can be employed at a private company, public sector company, state, central, or local government body
Minimum income required Rs. 25,000 per month
Overall work experienceAt least 2 years
Tenure of employment At least 1 year with the present organization and an overall work experience of at least 2 years.

Documents Required For HDFC Bank Personal Loans

Document Category Required Documents
Identity proofEither one of these
Address proofEither one of these
Other Documents
  • Bank statements for the last 3 months or passbook for the last 6 months
  • Latest salary slip or salary certificate
  • Form 16
  • Passport-size photograph

HDFC Bank Personal Loans Interest Rate And Fees

HDFC Bank personal loan interest rate 10.5% to 21%
Loan processing fee Up to a maximum of 2.5% of the loan amount subject to a maximum fee of Rs. 25,000
Prepayment/part payment charges 4% of the outstanding principal (loan tenure between 13- 24 months)

3% of the outstanding principal (loan duration between 25 - 36 months)

2% of the outstanding principal (loan tenure if above 36 months)

Stamp duty and other statutory fees According to the laws of the state in which the applicant resides in
Cheque swapping feesRs. 500
Overdue EMI interest2% per month will be charged on the principal or EMI that is overdue.
Amortization Schedule Fee Rs. 200
Cheque Bounce Charges
  • 1st return: Rs.450 + taxes per instance
  • 2nd return in a month: Rs.500 + taxes per instance
  • From 3rd return onwards: Rs.550 + taxes per instance
Incidental or legal charges At actual

How To Apply For An HDFC Personal Loan?

Online Apply via CreditMantri

1) After checking the features, pricing, and documents required, click on check eligibility.

2) You will be redirected to the application page. Enter the basic details asked for.

3) Click on view eligible offers to check the ‘HDFC personal offers’ available according to your eligibility.

4) Click Next.

5) An OTP will be dispatched to your mobile. Enter this OTP for verification.

6) Submit the application.

Offline

You can also apply for an HDFC personal loan offline by going to the nearest HDFC Bank branch. Thereafter, fill out the personal loan application and submit it.

Features of HDFC Bank Personal Loans

The features of HDFC Bank personal loans are:

  • Competitive interest rates:
  • HDFC Bank customers can get attractive interest rates on their personal loans. Even non-customers are provided with the best interest rates prevailing in the market. The current interest rate starts from 10.50% and can go up to 21% depending on various factors like the applicant’s credit score, salary, existing liabilities, etc.

  • Specialized loan offers for working women:
  • HDFC bank has an exclusive offer for today’s women - Personal loan Diva. It is a dedicated loan offering for women employees with more than 100 free alliance offerings across 100 locations in India. They are eligible for pre-approved personal loans of up to Rs. 3 Lakhs. Eligible applicants can avail this offer by contacting or emailing the bank. Upon expressing your interest in the product, a unique Diva number is generated and will be emailed to you. You need to follow the instructions in the email to verify and avail the loan.

  • Quick Loan Approval
    • HDFC Bank provides a seamless application process for personal loans. It offers quick loan processing and disbursal within 48 hours of applying.
    • You can check your eligibility online in less than a minute. You can also walk into your nearest branch and find out your eligibility in 10 minutes.
    • The personal loan amount will be disbursed to the accounts of HDFC bank customers within 10 seconds. Non-customers can get the loan amount in around 4 hours.
    • The loan is processed within one business day of submitting all the required documents.

  • Online Application Process:
  • HDFC Bank has greatly simplified the personal loan application process to save time and hassles for the customers. You can now apply for a personal loan on the HDFC bank website with a single click.

  • Customizable personal loans:
  • HDFC Bank personal loans are highly customizable. You can get suitable loan terms. Existing customers benefit from special interest rates, charges, and offers, while non-customers get multiple first-time customer benefits. Applicants can also enjoy flexible durations ranging from 12 – 60 months with affordable EMIs.

  • 24*7 Customer Service:
  • Customers can get round the clock assistance for any queries or issues regarding their loan account. They can reach the bank through SMS, Webchat, Click2Talk, or PhoneBanking.

  • Get additional protection with Insurance:
  • Obtain 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 removed from the loan amount.

  • Personal Loan Security:
  • You can also opt to secure your personal loan with the Sarv Suraksha Pro policy. This policy gives the following benefits:
    • Credit Shield Cover that is equal to the outstanding loan amount
    • Accidental Hospitalization cover of up to Rs.8 Lakhs
    • Accidental Death/Permanent Disablement cover of up to Rs.1 lakh

Types of HDFC Bank Personal Loans

  • Marriage Loan: The marriage loan comes with multiple EMI repayment options and flexible repayment tenures. The entire process is online and hassle-free. The disbursal of money is quick and this can help you plan your wedding.
  • Travel Loan: With the personal loan for travel given by HDFC bank, you can plan your dream vacation. Whichever exotic location you wish to visit whether it be in India or abroad, you just have to finalize the destination, dates, and budget. This way, you can easily opt for a holiday loan with HDFC that suits your requirement.
  • Emergency Loan: An emergency loan is a personal loan that can be used to fund unforeseen expenses. You can use the money to deal with any kind of personal emergencies, such as paying medical bills, educational expenses of our child, cash crunch during marriage, and so on.
  • Educational loan for students: If you want to pursue your studies (full-time, part-time, or even a small online course) and are facing lack of funds for the same or if you want to fund somebody else’s education (be it your child, sibling, or anyone), then, HDFC bank is here to help you with finance. You can get an educational loan from HDFC bank and use it for tuition fees as well as living expenses.
  • Home renovation Loan: Home renovation is a costly affair and not everyone might have funds enough to refurbish their homes. This is where HDFC bank steps in and you can get a personal loan for home renovation loan from HDFC bank. By using this you can give your home an aesthetic look and make it highly eligible for future sale.
  • Personal loan for teachers: Teachers who mentor and nurture students play a very important role in the lives of students. They are also individuals with personal needs. To meet these, they can avail teachers personal loans from HDFC.
  • Debt Consolidation Loan: HDFC bank offers a debt consolidation loan to consolidate all your debts and streamline repayments towards dues. You may get this loan at lower interest rates and better loan terms.
  • Personal Loans for Women: HDFC bank provides loans for women to take care of their financial needs. Repayment tenures are flexible and interest rates are competitive. The entire application process is digital, loan approval is quick, and loan disbursal is instant.
  • Personal Loans for the Salaried: HDFC bank gives personal loans for salaried individuals. You are required to have a minimum income based on your location and employment status to avail of this loan.

HDFC Bank Personal Loan Customer Care

Customers will have queries about personal loans like the application status, types of personal loans available, fees, and so on. That is why HDFC bank has first-rate customer services in place to resolve customer queries and help them regarding their doubts. You can reach HDFC Bank personal loan customer care via:

  • The HDFC Bank personal loan customer care numbers - 1800 202 6161 / 1860 267 6161
  • If you are a customer who is trying to contact from abroad, then you can call the number +9122 61606160
  • Email
  • Virtual assistant service at the bank website

HDFC Bank Personal Loan Interest Rates

When you apply for personal loans, you should apply with the lender who gives you the best interest rate. HDFC Bank personal loan interest rates range between 10.5% to 21%. Like various other lenders, HDFC bank also takes into account aspects, such as credit score, monthly income, job profile, employer’s profile, etc.

HDFC Bank Personal Loan Eligibility

Just like any other lender, HDFC Bank has certain personal loan eligibility criteria. HDFC Bank takes into account age, job type, income criteria, relationship with HDFC bank, employment history, etc. You can use the HDFC Bank personal loan eligibility calculator to find out whether you are eligible for the personal loan or not.

HDFC Bank Personal Loan Status Check

If you have applied for a personal loan with HDFC bank, you should track the status of your HDFC personal loan application. It can be done both online and offline. Online, you can track through your mobile number and date of birth, reference number, and netbanking. Offline, you can visit the bank’s branch and contact a representative.

HDFC Bank Personal Loan EMI Calculator

Once you have decided to take a personal loan for an emergency, you may wish to check the monthly EMI that should be paid for the loan. For this purpose, HDFC bank has a personal loan EMI calculator. This will help you know the EMI in less than one minute. Go to access the HDFC bank’s personal loan EMI calculator to access and know more.

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.

6. What happens if you do not pay the HDFC personal loan?

If you do not pay the EMIs for HDFC personal loans on time, you will be subject to late fees and penalties. The amount charged may vary but it is typically around 1% to 2% of the EMI that is due. One of the immediate outcomes of defaulting on personal loan payments is a dip in your credit score.

7. How can I reduce my HDFC personal loan interest rate?

You can reduce the HDFC bank personal loan interest rate through the following ways:

  • Maintaining a good CIBILTM score
  • By showing all income proofs
  • By maintaining a good debt-to-credit ratio
  • Applying at a time when HDFC bank provides discounted personal loan offers.

8. Can I close my HDFC personal loan online?

You cannot close your HDFC bank personal loan online. Individuals have to visit the bank to close the personal loan online.

9. Can I increase the EMI of an HDFC personal loan?

You can change the EMI of your HDFC personal loan. HDFC bank gives you the facility of making the PMII/MI change in the repayment tenure according to your convenience. You can do so through the following ways:

  • You can make an online request
  • You can personally visit your nearest or respective branch
  • You can email HDFC bank at loan@hdfccredila.com via your registered email ID
  • Call your respective relationship manager

Latest & Update Hdfc Bank Personal Loan News

HDFC Bank Launches A Paperless, Self-Service Digital Banking Platform 'XpressWay' 26 Oct 2023

HDFC Bank has introduced a digital banking platform called 'XpressWay' for paperless self-service banking. This move aims to give customers a convenient, fastest, seamless, and user friendly banking experience. It is accessible for both current and n...

Read more

HDFC Bank has introduced a digital banking platform called 'XpressWay' for paperless self-service banking. This move aims to give customers a convenient, fastest, seamless, and user friendly banking experience. It is accessible for both current and new customers. Customers can expect decreased processing time for accessing, applying to, and approval of the services available. The platform has more than 30 banking products and 14 services. Xpress Way offers multiple services - Xpress personal loans for applying to quick and hassle free personal loans, Xpress business loans for speedy financing solutions for businesses, Xpress car loans for seamless car loans, Xpress Loan on Cards for instant loan offerings on credit cards, Xpress savings accounts for speedy account opening and management, Xpress Home loans for easy and swift home loan application and approval, and additional services curated for fast and smooth banking.

HDFC Bank Hikes Lending Rates, EMIs To Improve Further12 May 2023

HDFC Bank has hiked its marginal costs of funds based lending rates (MCLR) by 5 to 15 basis points (bps) across tenures. The new loan interest rates are effective from May 8, 2023 according to the HDFC Bank's website. The overnight, one-month, three...

Read more

HDFC Bank has hiked its marginal costs of funds based lending rates (MCLR) by 5 to 15 basis points (bps) across tenures. The new loan interest rates are effective from May 8, 2023 according to the HDFC Bank's website. The overnight, one-month, three-month, and six-month MCLRs are now 7.95%, 8.10%, 8.40%, and 8.80% respectively. The one-year MCLR, which is connected to many consumer loans will now be 9.05%, the two-year MCLR will be 9.10%, and the three-year MCLR will be 9.20%. As the bank is continuously hiking lending rates, the loan EMIs are set to go up even further.

HDFC Bank Slashes MCLR By Up To 85 bps on These Tenures, EMIs To Decrease12 Apr 2023

HDFC Bank has decreased its marginal cost based lending rate (MCLR) for select tenures by up to 85 basis points. The new lending rates have been effective from April 10, 2023. The overnight MCLR became 7.80% from 8.65%. The MCLRs for 1, 3, and 6 mont...

Read more

HDFC Bank has decreased its marginal cost based lending rate (MCLR) for select tenures by up to 85 basis points. The new lending rates have been effective from April 10, 2023. The overnight MCLR became 7.80% from 8.65%. The MCLRs for 1, 3, and 6 months have been reduced from 8.65% to 7.95%, 8.70% to 8.30%, and 8.80% to 8.70% respectively. The MCRs for 1, 2, and 3 years remain unchanged at 8.95%, 9.05%, and 9.15% respectively. The MCLR cut will come as a huge relief for old personal loan borrowers and auto loan borrowers (floating rate loans) whose loans are linked to MCLR as EMIs are set to come down. However, the decrease in MCLR will not have not any impact on the HDFC home loan borrowers.

HDFC Bank Hikes Interest Rates - Borrowing Loans becomes expensive22 Nov 2022

HDFC Bank has hiked interest rates (due to an increase in Margin cost lending rate or MCLR) on all types of loans - Personal loans, auto loans, home loans, etc. The higher interest rates have come into effect from November 7th 2022. Customers who ha...

Read more

HDFC Bank has hiked interest rates (due to an increase in Margin cost lending rate or MCLR) on all types of loans - Personal loans, auto loans, home loans, etc. The higher interest rates have come into effect from November 7th 2022. Customers who have taken loans previously will also have to make additional EMI payments from now on. Thus EMIs on all loans current and future will be higher and more expensive. As per the HDFC Bank website, the MCLR on loans with one night tenure has been hiked from 7.90% to 8.20%. Similarly, the MCLR has been increased to 8.25% on loans with a tenure of one month. The interest rates on loans with tenure from 3 to 6 months have been increased from 8.30 to 8.40%. The MCLR rate has been increased to 8.55% and to 8.75% on 1-year tenure loans and 3-year tenure loans respectively. Whereas, the rates have been increased from 8.30% to 8.65% on loans with a tenure of 2 years.

HDFC Bank to offer 10 second personal loan service for everyone by this year-end 28 Sep 2022

Private lender HDFC Bank wants to make its 10 second instant personal loan service available to all, for even those who do not have an account with the bank. "Having created service delight for our existing customers, we plan to introduce the product...

Read more

Private lender HDFC Bank wants to make its 10 second instant personal loan service available to all, for even those who do not have an account with the bank. "Having created service delight for our existing customers, we plan to introduce the product to the broader open market for personal loans by year-end" said head of retail assets Arvind Kapil. Additionally, it is now expanding the 10 second loan service, which it has been delivering over the past 6 years, to self-employed people who were not previously considered creditworthy. HDFC Bank wants to raise credit exposure to customers who are self-employed and who make up barely 5% of the market. The private lender, has set up an infrastructure base across 650 districts in India to disburse unsecured loans.

Hdfc Bank Personal Loan - Customer Reviews

4 / 5 (3420 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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