HDFC Bank Personal Loan

HDFC Bank Personal Loan
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HDFC Bank, which was incorporated in 1994, is the fifth largest bank in India by assets. Over the years HDFC Bank has won the trust of its customers and has become a market leader in personal loans. Enjoy triple benefits when you take a personal loan from HDFC Bank - Faster loan, competitive pricing, transparency. On BankBazaar.com you can check your eligibility in seconds for a HDFC personal loan by filling in a short form and you can apply online. Read on to learn about the eligibility and documentation requirements for HDFC personal loan.


You’re probably eligible for an HDFC Bank Personal Loan if you are

01
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HDFC Bank Personal Loan Minimum Age

At least 21 years old

HDFC Bank Personal Loan Maximum Age

Less than 60 years old

HDFC Bank Personal Loan Eligible Employment Type

Salaried or self-employed
with regular income

HDFC Bank Personal Loan Minimum Income

Earn more than the minimum
income required


Your HDFC Bank Personal Loan amount eligibility is based on these factors

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HDFC Bank Personal Loan Minimum Salary

Minimum income required
Rs.12,000 per month

HDFC Bank Personal Loan Maximum Loan Funded

Maximum allowed personal loan is Rs. 15 lakhs

HDFC Bank Personal Loan EMI

EMIs of other loans lower
your eligibility


Increase your eligible HDFC Bank Personal Loan amount by these steps

01
02
HDFC Bank Personal Loan Payoff Outstanding Credit Card Bills

Pay off your credit card bills

“HDFC

Choose longer tenure loan up to 5 years


Documentation needed to apply for an HDFC Bank Personal Loan

  • 1. Signed application form with photograph
  • 2. Copy of passport/voter ID card/driving license
  • 3. Processing fee cheque
  • 4. Last 3 months bank statement/6 months bank passbook
  • 5. Documentation for salaried applicants:
    • Latest salary slip
    • current dated salary certificate with the latest Form 16
  • 6. Documentation for self-employed applicants:

    • Latest Bank statement
    • Latest ITR or Form 16

HDFC Bank Personal Loan Interest RatesUpdated on 02 Sep 2014

HDFC Bank Personal Loan Details
Interest Rate (Monthly reducing balance) 13.49% to 20%
Processing Fees 1.5% to 2.5% of Loan Amount
Loan Tenure 1 year to 5 years
Pre-closure Charges 4% of pre-closed amount
Guarantor Requirement No guarantor required

About HDFC Bank Personal Loan

HDFC Bank is one of the most popular private sector banks in the country, known for its professional banking and financial services. HDFC Bank is a market leader in personal loans as it offers a triple advantage to all loan applicants. Minimal documentation, quick loan approval and assured transparency makes HDFC bank the preferred choice of thousands of satisfied loan borrowers. HDFC Bank offers personal loans for both salaried and self employed individuals ranging from Rs. 50,000 to a maximum limit of Rs. 15 lakhs. With a flexible loan tenure ranging 12 to 60 months and a competitive interest rate, HDFC Bank offers one of the best personal loan services in the country.

The money borrowed through HDFC Bank personal loan can be used as per the needs and requirements of the applicant as there are no restrictions regarding the end use of the amount availed. Personal loans from HDFC Bank can be used for any immediate or short term financial needs like wedding expenses, home renovation, medical expenses, overseas travel, starting a new business or even in times of unexpected financial crunch.

Personal loans from HDFC Bank require no guarantor, security or collateral prerequisites and the bank offers instant loans approved in less than a minute.HDFC Personal Loan comes with a number of added benefits including a Personal Accidental Cover of up to 8 lakhs along with a Critical Illness cover of 1 Lakhs.

Why choose HDFC Personal Loan?

Many people prefer HDFC personal loans due to some or all of the below mentioned factors:


Minimal Documentation: HDFC Bank personal loans come with minimal documentation and quick loan disbursal. HDFC Bank has one of the fastest loan approval time compared to a number of other public sector and private banks.


Attractive Rate of Interest: HDFC offers personal loans at very competitive interest rates. Personal loans with HDFC Bank start as low as 15.75% interest rate.


Special Offers for Women Applicants: HDFC Bank offers a specialized discounted scheme for women known as the Personal Loan Diva Scheme. This scheme offers pre approved personal loans of Rs. 3 Lakhs to women applicants along with more than 100 Diva offers across various premium brands and products.


Dedicated Customer Support Helpline: HDFC Bank understands the need of customer support and service and has a 24/7 support helpline across all formats. Applicants can reach out to the bank through SMS, Webchat, Click2Talk and Phone Banking.


Free Insurance Cover: All personal loans approved by HDFC Bank come with an added benefit of personal accidental cover of up to 8 lakhs along with a critical illness cover of 1 Lakhs without any extra charges.


Features of HDFC Personal Loan

Personal loans from HDFC Bank come with a number of added benefits and incentives. HDFC Bank is known for their easy loan application process and wide branch network in every small town and even in many Indian villages. HDFC Bank also ensures maximum quantum of loan is offered to each applicant as per their financial credential, repayment history and CIBIL score. Some of the main advantages that make HDFC personal loan such a popular choice with loan applicants include:


Quick Loan Disbursal: HDFC Bank makes sure that loan applicants do not have to go through any long delays and has one of the fastest loan disbursal time compared to a lot of their private sector as well as public sector banks in the country.


Low Interest Rates: HDFC Banks offer competitive interest rates with loans available for salaried, self employed individuals, working professionals. Loans from HDFC Bank start as low as 15.75% interest rate for salaried individuals.


Online Loan Requests: HDFC Bank has been one if the pioneer banks to embrace technological up gradation. Taking this trait forward, HDFC Bank offers online loan applications and submissions with instant approval.


Low Prepayment Charges: HDFC Bank offers substantially lower prepayment charges for personal loans compared to other banks. Prepayment charges are completely waived off after a period of 36 months.


Why apply for HDFC Personal Loan on BankBazaar.com?

HDFC Bank has collaborated exclusively with BankBazaar.com, India’s most popular and well known financial marketplace to offer loan applicants an online loan submission facility. Users seeking personal loans with HDFC Bank can now simply use the online loan application tool at BankBazaar.com to check their loan eligibility and submit their loan applications if eligible.


Instant Loan Eligibility Check: The loan calculator tool at BankBazaar.com checks for personal loan eligibility for each applicant as per his or her financial details. This quick loan eligibility makes sure users do not have to spend a couple of days to know their eligibility for a personal loan. They can also apply for the loan instantly without visiting a bank branch.


Personalized Loan Quotations: BankBazaar.com’s loan calculator tool offers personalized loan offers for each applicant depending on his or her desired loan amount, tenure and personal financial track record.


Low Interest Rates: Loan applicants using Bankbazaar.com personal loan tool are offered the best rate of interest for their personal loan due to the active collaboration between HDFC bank and BankBazaaar.com.


Instant Approval: Eligible candidates who apply for HDFC Personal Loan through BankBazaar.com are given an instant e-approval, making them assured that their loan application has been processed, approved and forwarded to the designated loan department of the bank.


Real Time Tracking Facility: Users who submit their loan application online using BankBazaar.com can track the updates of their submission form using both email and SMS updates.


24/7 Customer Support: BankBazaar.com has a dedicated 24/7 customer support and helpline which is always ready to help with any grievances or questions from loan applicants.


How to apply for a HDFC Personal Loan on BankBazaar.com?

With BankBazaar.com, applying for a HDFC Bank personal loan is a simple 3 step process.


Step 1: Fill up the loan eligibility form with correct personal and financial details. The tool checks for your personal loan eligibility instantly as per HDFC’s norms and offers customized loan options available for you.


Step 2: You need to choose a loan option as per your need and repayment capacity. At this stage, you can compare various loan options and choose the most appropriate one.


Step 3: After choosing the plan, click submit. Now you receive an instant e-approval from BankBazaar.com.


We forward your application electronically to the loan processing department of your nearest HDFC Bank branch and the bank gets in touch with you very soon. Users can also check the status of their loan application through SMS alters as well as emails.

HDFC Bank Personal Loan Interest Rates

Rack interest rate Salaried - 15.75% to 20%
Loan processing charges Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 25000/- for Salaried Customers.
Prepayment Salaried - No pre-payment permitted until repayment of 12 EMIs
Pre-payment charges Salaried - 13-24 Months - 4% of Principal Outstanding, 25-36 Months - 2% of Principal Outstanding >36 Months - NIL
Loan cancellation charges NIL (However client would be charged interest for the interim period between date of loan disbursement and loan cancellation and processing fees would be retained.)
CIBIL Report Copy Charges Rs.50 per copy

HDFC Bank Personal Loan Eligibility

HDFC Bank offers personal loans to all applicants fulfilling the basic eligibility criteria.

Eligibility Criteria for Salaried Individuals

Age 21-60 years
Minimum Monthly Income Be earning at least Rs. 12,000/- per month net income (Rs. 15,000/- in Mumbai, Delhi, Bangalore, Chennai, Calcutta, Ahmedabad, cochin)
Loan Amount Rs, 25000 to Rs, 15,00,000
Processing Fee Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 25000/- for Salaried Customers.
Tenure 12 Months to 60 Months
Interest Rate 15.75 to 20%

Eligibility Criteria for Self Employed Individuals and Working Professionals:

Age 25-65 Years
Minimum Income Rs 60000 p.a. taxable income for Doctors and CAs. Rs 100,000 p.a. taxable income for Engineers, MBA Consultants, Architects, CS.
Maximum Loan Amount Rs. 15,00,000
Tenure 12 Months to 36 Months
Interest Rate 14.5 to 15%

How to calculate EMI for HDFC Bank Personal Loans

BankBazaar.com offers users a unique and state-of-art tool to calculate EMI for their loans in one click. BankBazaar’s online Personal Loan EMI Calculator is instant as well as accurate. Users can thereby understand their expenses towards the planned loan and adjust the tenure or loan amount to avoid later surprises.

BankBazaar.com’s online EMI calculator tool is very simple to use. All you need to do is to type the preferred loan amount, loan tenure and the applicable rate of interest. The EMI calculator then calculates and displays your EMI liability for the loan.

HDFC Personal Loan FAQs

  1. How do I know if I am eligible for HDFC Personal Loan?

  2. If you wish to apply for HDFC Bank personal loan, you can apply it with ease at BankBazaar.com. You may fill the online quick application form with your personal and financial details. Our loan calculator tool automatically checks your Personal Loan Eligibility and sends you instant quote.

  3. What are the advantages of applying HDFC Bank personal loan with BankBazaar.com?

  4. There are many advantages of applying for a HDFC Personal Loan online through BankBazaar.com. You can avail the best possible rate of interest for all online loan application submitted to HDFC Bank through BankBazaar.com. Another advantage is instant e-approval of loan with real time tracking facility for the loan application.

  5. What is the minimum and maximum amount of Personal Loan that I can get with HDFC Bank?

  6. HDFC Bank offers personal loan after considering the monthly income and other liabilities of the applicant. Personal loans are available from a minimum limit of Rs. 50,000 to a maximum of Rs. 15 Lakhs depending on the repayment history and personal financial credentials of the individual borrower.

  7. What is the tenure for which I can avail a Personal loan with HDFC Bank?

  8. HDFC Bank offers a tenure period of 12 to 60 months for salaried individuals and 12 to 36 months for self employed individuals and working professionals. The bank can however expand the tenure up to 60 months for self employed people in some cases.

  9. Does BankBazaar.com Charge for its Loan Calculator Tool Facility?

  10. BankBazaar.com loan calculator tool is absolutely free to use and there are no hidden charges for all the services you avail through us.

  11. Is BankBazaar.com providing any assistance for tracking my loan application?

  12. BankBazaar.com offers loan applicants with an active tracking tool through both email and SMS allowing users to track daily updates of their loan application. Updates are also provided by SMS to each loan applicant.

  13. How to use BankBazaar.com EMI Calculator Facility?

  14. BankBazaar.com offers a unique EMI calculator tool allowing users to get a unique insight into their loan EMI. Users can use the tool to know the EMI breakup for all loans in one click, after entering the loan amount, tenure and rate of interest.

  15. I am skeptical of sharing my personal data online. Is it safe?

  16. BankBazaar.com is a premier financial portal and does not share any data with any third party other than the financial institution concerned. All data is sent in electronic form with high level of encryption making it safe and secure at all times.


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News about HDFC Bank Personal Loan

  • Comparison parameters for personal loans!

    Currently there is a plethora of loan products that are being launched on a regular basis by the competing financial institutions in order to woo the prospective borrower. The range of personal loan products that available in the market is wide and often confusing. Choosing the right personal loan product that suits your requirements best can be quite a daunting task. Here are a few parameters that can be used to evaluate the suitability of a personal by comparison among similar products available in the markedly currently.Read more

    3rd May 2014

  • How EMI break ups are done in personal loans?

    While it is not very difficult now to take a personal loan, it is not so simple to pay back the loan. This is because personal loans are unsecured loans, and come with high interest rates. As a result, the Equated Monthly Instalment factor (or the EMI) can be a drain on your salary, depending on the amount and tenure for which you borrow.Read more

    11th March 2014


HDFC Bank Personal Loan Reviews

Customer Reviews
Page 1 of 50 1 2 3 4 5
  • (0)

    Awesome Service. What ever HDFC bank committed to me then complete it. No Hassle!!!... Very committed and supportive team. Overall very satisfied. I wish they keep providing same service with other products like Saving account. Overall 4.5 out of 5.

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    took a Personal Loan from HDFC BANK Reviewed on
  • Validated User
    (0)

    HDFC Personal Loan: It was really good the way of approach was best, overall it was great experience on first instance its done the process was very fast with in 4 days my loan got approved. Interest rate was 14.23% it was quite good when compare to other banks, their was no disadvantage i fully satisfied.Charges were also reasonable as i check with other banks.

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    Fees & Charges
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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    HDFC Personal Loan it was quick process verification and other part was done so fast with in 3 days my loan was approved it was fantastic service. Interest rate was 18.05% it was normal as per market price. Charges was 1600/- for insurance and service tax, Overall i am fully satisfied. Customer service was very clear in providing the information.

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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Personal Loan with HDFC the interest was less, when i got loan at 1st time it was 18% on top up i got at 14%, the response and way of approach is great, with in 3 days they approved my loan. They charged 2% for processing fee apart from that their was no charges. Overall i am happy with service.

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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • (1)

    I applied for HDFC Personal Laon and it took about a month to get the money credited to my account.The executives and Ph banking officers response is the worst.I suggest not to apply in HDFC any personal loan & rate of interest is also high 18.75%.Please prefer any other bank rather than this HDFC .

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    took a Personal Loan from HDFC BANK Reviewed on
  • Validated User
    (0)

    Prompt response and excellent customer service from HDFC bank. They are having only mail service for this INVESTMENT ( RECURRING DEPOSIT ) plan but whereas it would be nice if they implement the toll free options. Overall I am satisfied.

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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I was really excited to receive my personal loan from HDFC bank in the beginning of this month. I personally contacted the customer service of HDFC bank and requested them for a personal loan. Someone came to my home for collecting the documents and they disbursed my loan after one week of processing. Rate of interest was 14% and the processing fee & charges are very minimal.

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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (1)

    In the year 2012 I have taken a personal loan from HDFC bank. It was very easy for me to avail the loan because I was holding a salary account with the bank. I started off the process by applying online through net banking. Someone from the bank came to office and collected the documents. After 3 days of processing they disbursed the loan at a rate of interest of just 14%.

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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    HDFC Personal Loan only one time they visited my place i submitted all my documents on 3rd day they approved my loan. Interest rate was 14% which is good when compare to other banks. Their charged for insurance and other thing it was around 7000/-. Overall i am fully satisfied with experience. If they reduce the charges it would have been great.

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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I am really happy about the procedure followed for the loan processing and the way the customer service handles the customers. However the documentation part is not good as they ask for lots of documents which can be simple. Interest rate offered is common like other banks.

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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    HDFC bank was best and prompt in their customer service and response. They are very accurate in interest rate. I personally closed this CAR loan with them probably might be take after 20 days of time . Overall I am very much satisfied with theit service.

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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • (0)

    i am happy to share my experience with HDFC bank regarding my personal loan, i applied personal loan from bank bazaar.com within a week i got loan,from the day of i send request for a loan daily i got phone calls from bank for my loan application status and also lots of foll up from bankbazaar.com ,i really very happy with bank.

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    Promised Interest Rate
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    took a Personal Loan from HDFC BANK Reviewed on
  • Validated User
    (0)

    It was an excellent experience of availing a personal loan from HDFC bank in the beginning of this month. I had applied for the personal loan online through HDFC bank website. An executive from the bank came to my house for collecting the documents and they took around 7 days for processing & disbursing my loan. HDFC bank overall responded properly and updated me regularly on the status of my application. Best part is the rate of interest of just 13.99%.

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    Fees & Charges
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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    HDFC Personal Loan as such my work was not done, customer service it was not bad experience but their delay from their end the big problem was if they are denying they should inform as i need to follow up my for loan status, advantage is for my minimum salary also they accepted to give the loan for 1.5 lakh, their was nothing wrong, what all they update it was good.

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    Fees & Charges
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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have availed a personal loan from HDFC bank in the year 2009. I met one of the bank executive and told him about my loan requirement. He had collected all the required documents and ensured my loan was disbursed within 10 days at a rate of interest of around 17%. I think the processing fee & charges are quite higher than other banks. I would recommend the bank if they reduce the interest rates.

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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Personal Loan with HDFC Bank was very good. The interest rates was same as other banks . For completing the process it took 1 week of time for me.They are having less charges comparitive with other banks . I have got the loan amount what I have expected.

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    Fees & Charges
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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I would say HDFC Personal Loan experience was not as much as good compared with other banks. They required lots of documentation for my personal loan.Charges are very high once I delayed EMI for 1 month. Interest rate was also 16.50% whereas it was quite high when compare with other banks. I would suggest if they work on their documentation policy . Overall satisfactory experience from them.

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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    HDFC Personal Loan approval has been done they said they cannot process the loan, i completed 4 months in new company they should be at least 1 year they said, the person came here and work good everything was done at the end they did not process. Bankbazaar.com that was good i received the call and after that i got call from HDFC also, website i always use to check policies, they are so many option and comparison i would like to rate for bankbazaar as 5/5 for all.

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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • (0)

    Trustworthy bank with trustworthy team. Executives don't give fame promises. Bank follows strict rules & regulations and don't bypass the same just for attracting customers & generating interest amount. Bank is only for a Loyal Customer.

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    took a Personal Loan from HDFC BANK Reviewed on
  • Validated User
    (0)

    I already had one personal loan with HDFC bank and I recently availed a PERSONAL LOAN with them. I got my loan earlier because of the bank executive who helped me a lot. After the telephonic discussion with the bank executives one of them came to my house and picked the documents. They took around 1 week for processing my loan with a rate of interest around 13.99%. It would be really great if they can implement on part payment options and reduce pre-closure charges.

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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
Customer Reviews
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