HDBFS Personal Loan

The current rate of interest ranges from 19% to 21% depending on the borrower’s creditworthiness, the company’s individual credit policy and prevailing market conditions.

Note:- Loans with tenures over 3 years (36 months) are offered with floating rates

The basic criteria to be satisfied to qualify for the loan is outlined below depending on the borrower category viz. Salaried, Self-Employed Professionals, Self-Employed Individuals, Self-Employed Private Companies or Partnership Firms

Salaried Applicants:

This refers to all individuals/professions/non-professions/companies earning a salary

• Minimum age: 21 years
• Maximum age on loan maturity date: The earlier of - 60 years for regular borrowers, 65 years for government employees OR age of retirement
• Employment period: 1 year active employment (minimum)
• Salary: 1 month’s credited pay of active employment (minimum)
• Minimum pay: Rs.20,000 (Metros i.e. Chennai, Bangalore, Hyderabad, Mumbai, Pune, Ahmedabad, Delhi, Kolkatta), Rs.15,000 - others

Documentation required for a HDBFS Personal Loan

Basic paperwork requirements to process the loan are as follows:

• Proofs: Relevant documents will have to submitted to prove the following
  • Identity: Passport, Ration card with photo, Driver’s license, Voter’s ID, PAN or Aadhar Card
  • Address: Driver’s license, Ration card, Utility, Voter ID (either of these with 3 months validity) OR Rent Agreement, Passport
  • Age/ Birth Date: Birth Certificate, Passport, Driver’s License, PAN card, 10th or 12th mark sheets
  • Income: Most recent 3 months and latest Form 16, Income Tax Return or Appointment letter
• Bank Statement/Passbook: For the 3/6 months immediately preceding the loan application

Self-Employed (Professionals) Applicants:

This refers to self-employed professionals like Doctors, Architects, Chartered Accountants etc.

• Minimum age: 22 years
• Maximum age on loan maturity date: 65 years
• Life of Business: 3 years (minimum)
• Minimum income: Rs.1 lakh (Metros i.e. Chennai, Bangalore, Hyderabad, Mumbai, Pune, Ahmedabad, Delhi, Kolkatta), Rs.75,000 - others

Documentation

Basic paperwork requirements to process the loan are as follows:

• Proofs: Relevant documents will have to submitted to prove the following
  • Identity: Passport, Ration card with photo, Driver’s license, Voter’s ID, PAN or Aadhar Card
  • Address: Driver’s license, Ration card, Utility, Voter ID (either of these with 3 months validity) OR Rent Agreement, Passport
  • Age/ Birth Date: Birth Certificate, Passport, Driver’s License, PAN card, 10th or 12th mark sheets
  • Income: Latest Income Tax Return (ITR), 2 years audited statement of accounts
• Bank Statement/Passbook: For the 3/6 months immediately preceding the loan application

Self-Employed (Individuals) Applicants:

This refers to self-employed sole proprietors, directors or partners

• Minimum age: 22 years
• Maximum age on loan maturity date: 65 years
• Life of Business: 4 years (minimum) of which 2 years pertain to one business
• Minimum income: Rs.1 lakh (Metros i.e. Chennai, Bangalore, Hyderabad, Mumbai, Pune, Ahmedabad, Delhi, Kolkatta), Rs.75,000 - others

Documentation

Basic paperwork requirements to process the loan are as follows:

• Proofs: Relevant documents will have to submitted to prove the following
  • Identity: Passport, Ration card with photo, Driver’s license, Voter’s ID, PAN or Aadhar Card
  • Address: Driver’s license, Ration card, Utility, Voter ID (either of these with 3 months validity) OR Rent Agreement, Passport
  • Age/ Birth Date: Birth Certificate, Passport, Driver’s License, PAN card, 10th or 12th mark sheets
  • Income: Latest Income Tax Return (ITR), 2 years audited statement of accounts
  • Business continuity: Trade or establishment license, Certificate of sales tax
• Bank Statement/Passbook: For the 3/6 months immediately preceding the loan application
• Other documents: Memorandum of Association, Articles of Association, Partnership Deed, Declaration of Sole Proprietorship, Board Resolution

Self-Employed (Partnership Firms or Private Companies) Applicants:

This refers to Trading, Manufacturing, Service-oriented partnership firms and private companies

• Minimum age: 22 years
• Maximum age on loan maturity date: 65 years
• Life of Business: 4 years (minimum) of which 2 years pertain to one business
• Minimum income: Rs.1 lakh (Metros i.e. Chennai, Bangalore, Hyderabad, Mumbai, Pune, Ahmedabad, Delhi, Kolkatta), Rs.75,000 - others; proven profits for most recent 2 years.

Documentation required for a HDBFS Personal Loan

Basic paperwork requirements to process the loan are as follows:

• Proofs: Relevant documents will have to submitted to prove the following
  • Identity: Passport, Ration card with photo, Driver’s license, Voter’s ID, PAN or Aadhar Card
  • Address: Driver’s license, Ration card, Utility, Voter ID (either of these with 3 months validity) OR Rent Agreement, Passport
  • Age/ Birth Date: Birth Certificate, Passport, Driver’s License, PAN card, 10th or 12th mark sheets
  • Income: Latest Income Tax Return (ITR), 2 years audited statement of accounts
  • Business continuity: SSI Registration,Trade or establishment license, Certificate of sales tax
• Bank Statement/Passbook: For the 3/6 months immediately preceding the loan application
• Other documents: Memorandum of Association, Articles of Association, Partnership Deed, Declaration of Sole Proprietorship, Board Resolution