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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02
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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 21 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
  • Validated User
    (0)

    Personal loan experience with HDFC initially they called and responded quickly they came and collected the documents till that it was fine. After collecting the documents their was no response from their end. I would say they need to inform the status of my loan, even interest rate they need to improvise as it is high when compare to other bank.

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

    HDFC Personal loan they are good in service, customer relationship is pretty good they call many times and follow up was best. Interest rate was same as other, since i am working for tcs they were offering some discount in rate of interest. It would be great if they improvise on charges.

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

    Personal loan with HDFC, since my company offer pay slip in printed sheet i am not having original copies, but HDFC bank requires requires only original copies because of that they are not ready to offer the loan. Response was very good, interest rate was offered at 18.75%. It could have great if they accept printed copy they should think its based on company profile.

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    took a Personal Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Overall Good Service
    https://cdn1.bankbazaar.com/images/customer_review/default-unknown-person.png
    ANILKUMAR SHYADHANAHALLI BETTEGOWDA, bangalore
    Recommend Recommended by user
    Validated User
    (0)

    My experience of availing personal loan through HDFC was very good in terms of customer service and regular feedback. Compare to other banks interest rate and charges is high. It could have been great if they offer interest rate as per market value.

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

    I had a good experience with the HDFC Bank when i applied for the personal loan. The processing and the documentation was simple and it was transparent. The customer service executive called me timely and updated me on the status of the loan. I got the loan amount disbursed in 7-10 days.

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

    It would be really great and help if hdfc bank improve on all parameters in terms of personal loan . Because of the service I have got fed up and closed this loan earlier. HDFC concentrating on themselves rather customers. They should be more customer centric . Overall I would say hdfc bank was good.

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

    Personal loan with HDFC since i have my salary account with them i though it will be convenient. But they offered interest rate at 18% its very high compare to other bnaks. They charged 4% on pre payment. I would suggest they need to improvise on interest rate and pre payment charges Customer service was perfect in providing information.

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

    HDFC Personal loan i would suggest they need to improvise on response and provide proper information. Interest rate and charges is comparatively high when compare to other banks. It would have been great if they considered on interest rate at least.

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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)

    Personal Loan with HDFC bank, they provided quick service and instant response. I would suggest their should be an optional way to get the loan even if my company is not listed in their sheet. Customer service was fine in providing the information.

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

    I have very happy with the service of HDFC & Bank Bazaar. It was very easy for to apply and get the loan. They are all very co-operating and help full please approach them ....................................................................................

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

    Personal loan with HDFC Process was very slow, the communication part need to improve, i need to follow them for my loan status. Their was no call backs and proper response from their end. Interest rate was 18%. I would suggest the loan is approved or closed they should give proper response and intimation.

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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 the process was very fast. I got loan approval in 3 days, since i am maintaining my account with them they considered on rate of interest and offered best deal. Asper my expectation i got the loan amount. It would have been great if pre closure charges is waived off.

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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)

    Personal loan with HDFC bank not much satisfied with experience. I would say they need to fulfill the commitments which was offered at starting they offered for14% interest rate, later they changed to 17% so i closed the application. I got multiple calls from them with different interest rate, their should be more co ordination with in them in order to communicate proper information..

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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 didn't go with HDFC bank for personal loan as they did not provide me good rate of interest. Best part is their was no hidden information everything they said clearly including insurance charges which was really excellent. Customer service was nice in terms of follow ups.

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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 the interest rate and charges is very high when compare to other banks. Even though i am have existing loans with them they are not considering on that. I would suggest they need to improvise on interest rate and charges at least for existing customers.

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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 the rate of interest and charges is very high compare to other banks apart from that everything was fine. The staff was very polite and professional the way of approach was good. It would be great if they improvise on charges and interest rate.

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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)

    It would be really great if hdfc bank may consider on the preclosure charges to shine better in personal loan. Interest rate was quite better compared with other banks. They offered 10.25% as interest rate for my personal loan . ECS has been activated for my account to be debit every month

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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)

    As I have my salary account with HDFC, it was quite easier for me to get the personal loan from HDFC. I receive regular SMS alerts and monthly EMI gets deducted from my account. Interest rate offered was 18.25% and the customer service team was too supportive. I liked the faster processing which was done within 15 days.

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

    Quickly Access on any Product, online Eligible details, Simple N Qucik responses from backend team, minimum details require to check eligible process, I will recomenned it to my Friends n colleges for their finical helps, Overall good site to check all bank eligable thank u so much...

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

    I am holding a HDFC Bank personal loan for the last one half years, I guess Axis Bank is providing a better amount than HDFC, as HDFC was offering me around 4 lakhs. Where as Axis Bank was ready to provide a loan of 10 lakhs. The best part about HDFC is, they processed my application with in 3 days, probably because I hold a salary account with them. Ovearll its good

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