HDFC Bank personal loan

salaried self employed

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HDFC Bank Personal Loan Overview

Apply on BankBazaar.com for a HDFC Bank Personal Loan

Need urgent cash? HDFC Bank personal loans can help you meet financial aspirations for any purpose. Apply online for a HDFC Bank personal loan at BankBazaar.com and save thousands. Get fast approval for your HDFC Bank personal loan with simple documentation process and low processing fees. Check your Eligibility Now!

Benefits of HDFC Bank Personal Loans:

HDFC Bank Personal loans can be taken for tenures of up to 5 years.
No security or collateral is required to get a HDFC personal loan
HDFC Bank Personal loan can be taken up to Rs. 15,00,000
Minimal documentation and quick approvals
Repayment through easy EMIs

Why Apply for a HDFC Bank Personal Loan on BankBazaar.com?

Customized Offers: BankBazaar.com has partnered with HDFC Bank to give you customized personal loan offers.
Low Interest Rates: We have negotiated with HDFC Bank to get you the best personal loan interest rates.
Comparison: BankBazaar.com helps you compare the personal loan offers of other banks with HDFC Bank on the basis of interest rate, EMI, processing fees & customer satisfaction.
Transparency: Based on your eligibility criteria and offers we show you the real time HDFC Bank personal loan interest rates, Processing fees, prepayment charges and your actual EMI on the loan amount.
Privacy: Once you apply for HDFC Bank personal loans at BankBazaar.com we send your application details electronically to HDFC Bank only. Your details are never shared with anyone else.
Trust:HDFC Bank, India's second largest private sector bank, uses BankBazaar.com-powered technology to give its customers the best personal loan experience on its website, www.hdfcbanksmartapply.com

HDFC Bank Personal Loan FAQs

1. How much loan can I avail of?

You can avail of a HDFC Bank personal loan from Rs 50,000 to Rs 15,00,000 depending on your income and repayment capacity. You can club the income of your spouse if you wish to increase your loan amount.

2. How do I repay my Personal loan?

You pay the loan in equated monthly installments. The loan will be paid through post-dated cheques or through Standing Instructions to debit your HDFC Bank account with the EMI amount.

3. What security do I need to provide to get the HDFC Bank personal loan?

There is no security or collateral required to get a HDFC Bank personal loan.

4. What are the loan tenure options?

You can repay your loan over a period of 12 to 60 months

5. How long will it take for me to get my loan?

Once you submit your application form and supporting documents, we shall give approval within 5 working days provided everything is in order. All loan approvals are at the sole discretion of the bank.

6. Is there any pre-closure charge for HDFC Bank Personal Loan?

HDFC Bank foreclosure fee is a nominal 4% as foreclosure charge of the principal outstanding on your loan.

7. Are there any benefits of having a HDFC Bank Salary Account for my Personal loan?

HDFC Bank offers special interest rates, instant processing and minimal documentation for HDFC Bank salary account holders.

8. If I already have an active personal loan with HDFC Bank, can I take another HDFC Bank personal loan?

Yes. HDFC Bank offers a top-up personal loan to customers who are currently running a personal loan with them. You will be eligible for a personal loan top-up, if you have paid all your EMIs on time and are still eligible for a loan even after accounting for your existing HDFC Bank personal loan.

HDFC Bank Personal Loan Eligibility & Documentation

HDFC Bank Personal Loan Eligibility: You are eligible for a personal loan if you are:

Salaried individual
Self employed individual
Self employed professional like doctor, lawyer, etc.
Aged above 18 years
Have a good CIBIL credit score
Good repayment capacity with fixed & stable income source
Work for a stable company
Try our Personal Loan eligibility Calculator to check on the loan amount you are eligible for.

HDFC Bank Personal Loan documentation:HDFC Bank personal loan documentation process is minimal. Generally banks require the following documentation:

Identity proof (PAN card, Passport, etc.)
3 to 6 months bank statement (if salaried then bank statement of your salary account)
Residence proof (rent agreement, property document, ration card, etc.)
Salary Slips
In case of self-employed applicants, banks require balance sheets, profit & loss accounts, partnership deeds & other documents etc.

HDFC Bank Personal Loan Interest RatesUpdated on 20 May 2013

Details of HDFC Bank Personal Loan

HDFC Personal Loan Interest Rate.(Monthly reducing balance): 14.25% to 22.5% fixed. Check Customized Interest Rates Now!
Processing Fees: 2% to 2.5% of loan amount
HDFC Personal Loan Tenure: 1 year to 5 years
HDFC Personal Loan Amount: Rs. 1 lakh to Rs. 15 lakhs
Pre-closure Charges: 4% of pre-closed amount
Guarantor Requirement: No guarantor required

Personal Loan Articles

Pointers for your personal loan!
Evaluate all loan offers. The first condition for loan offer selection is the total money outflow that the loan will cost. The second factor is the EMI. A loan offer with a lower EMI and a longer tenure may seem attractive, as it could be easy on your purse strings, however not all such loans prove to be cost effective in the long run.
Alternatives to a personal loan!
Whenever people have a requirement for some urgent cash and cannot come up with the amount needed with the resources they have, they inadvertently apply for a loan from a bank. Getting a loan today has become very easy, what with the stiff competition prevalent among different banks.
A personal loan? Think twice!
Personal loans are the one of the most widely chosen options, in case you are in a spot and need some urgent cash. However, personal loans are tricky and you need to know as much as possible about their basics before applying for one. Let’s start with some common questions.
LAP vs. Personal loan
LAP (loan against property) is one of the cheapest retail loans after home loans; usually in the range of 12% – 16%. Since the rate of interest is lower, frequently LAP Equated Monthly Installments (EMI) turn out cheaper.Maximum loan eligibility is determined primarily by the value of the property and income.