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  • HDBFS Personal Loan

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  • HDBFS offers affordable personal loans with attractive terms to help its customers consolidate their debts and pay for unplanned expenses.

    • Interest Rate: Up to 36% p.a.
    • Loan Amount: Up to Rs.20 lakh
    • Loan Tenure: 12 months to 60 months
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    We found 1 HDBFS Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    14.99% - 14.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    What are the benefits?

    • They are easy to avail and developed to suit the financing needs of a wide range of customers.
    • These loans feature some of the most competitive interest rates vis-a-vis peers, for considerable loan amounts.
    • Customers’ requirements are assessed and customised loans are offered so as to effectively satisfy their financial needs.
    • Qualified customers receive quick approvals i.e. within 72 hours of submitting documents to process loan requests
    • Convenience is an added benefit as customers are offered doorstep collection of documents.
    • All customer queries are addressed through a single point of contact, ensuring a smooth and uncomplicated loan process

    HDBFS Personal Loan Interest RatesUpdated on 17 Sep 2019

    HDBFS Personal Loan Details
    Interest Rate (Daily reducing balance) 12.99%
    Processing Fees Up to 2% of the loan amount
    Loan Tenure 1 year to 3 years
    Pre-closure Charges Preclosure permitted after 6 Months. 4% of principal outstanding (plus applicable tax)
    Guarantor Requirement No guarantor required

    Current Interest Rate on 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

    Eligibility

    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

    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 required

    Basic paperwork requirements to process the loan are as follows:

    • 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
    • Business continuity: Trade or establishment license, Certificate of sales tax
    • Other documents: Memorandum of Association, Articles of Association, Partnership Deed, Declaration of Sole Proprietorship, Board Resolution

    About the loan

    This is an unsecured loan (no collateral or guarantor required) offered to customers to meet their personal financing needs. These funds can be utilised to meet a wide range of requirements; education, marriage, vacations, home repairs, big-ticket purchases, debt consolidation or refinancing debts and so on. Use of funds is not restricted and when coupled with the company’s quick and simple process to avail loans, HDBFS personal loans are the ideal choice for a wide range of borrowers.

    In order to avail these loans, customers will have to satisfy some simple eligibility criteria and submit the required documents.

        

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    HDBFS Personal Loan Reviews

    • HDB Financial Services Personal Loan
      "Completely satisfied"
      0.5 5.0/5 "Blown Away!"
      I have approached HDB Financial services for a balance transfer option. They have provided me a lower rate of interest which is around 14.5% hence went this loan. The customer service is fine. There was a processing fee which is not quite high.
      Was this review helpful? 1
      , mumbai
      Reviewed on Sep 11, 2019
    • HDB Financial Services
      HDB Financial Services Personal Loan
      "Satisfactory but need to reduce the rate of interest"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from HDB Financial service which was suggested one of my friend. This loan is ongoing and they need an improvement on the customer service. They were charging me higher rate of interest according to the rest of bank but not much satisfied. The tenure period is 5 years.
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Aug 23, 2019
    • HDB Financial Services Personal Loan
      "Good "
      0.5 4.0/5 "Great!"
      I took my personal loan from HDB Financial services on one year before and the services are good. The partial payment is simple and If any query need to visit the main branch which takes 2 to 3 working days. The rate of interest is nominal. The tenure of 4 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 12, 2019
    • HDB Financial Services Personal Loan
      "High interest rates and not transparent"
      0.5 4.0/5 "Great!"
      In HDB Loan, their credit policies are critical because their rules and regulations are not much transparent. At the time of loan disbursement, they have asked me to give my visiting card even though i have provided my HR letter, payslips and required documents. Their interest rates are quite high which is 15%.
      Was this review helpful? 0
      , nagpur
      Reviewed on Aug 07, 2019
    • HDB Financial Services Personal Loan
      "Good Loan service"
      0.5 5.0/5 "Blown Away!"
      My brother has referred me about the HDB Financial services. I bought the phone worth of Rs. 17000 and i paid the down payment of Rs. 5000 balance i have converted into EMI. They have charged me some processing fee. I am paying the EMI of Rs. 1500 for the tenure period of 9 months.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 06, 2019
    • HDB Financial Services Personal Loan
      "It should be better"
      0.5 3.0/5 "Satisfactory"
      I took my personal loan from HDB Financial services recently and the services are good until and unless if I pay the EMI's on time. The partial payment and foreclosure procedure is not simple and need to visit the main branch which takes 2 to 3working days. The rate of interest is higher and there was a processing also.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 02, 2019
    • HDB Financial Services Personal Loan
      "NOT SATISFIED"
      0.5 1.0/5 "Really Bad"
      The loan amount given was 2L, the rate of interest was 15%, the documentation process was done, the processing fee was there it was 2%. I am using the loan since from last 18 months, duration for repaying the loan was 3 years with the loan.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 20, 2019
    • HDB Financial Services Personal Loan
      "Process was good"
      0.5 4.0/5 "Great!"
      I had a personal loan from HDB Financial service. I had a two wheeler loan in HDFC and its a sister concern of HDFC and the rate of interest also pretty good hence i opted the loan. The loan process was smooth and their terms & conditions are transparent. I closed the loan in the March month 2019.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 11, 2019
    • HDB Financial Services Personal Loan
      "BETTER"
      0.5 5.0/5 "Blown Away!"
      I am using from last 2 months with HDB FINANCIAL SERVICES, the service is good. The documentation process was simple and quick to get the loan. The loan amount given was 3L also the rate of interest was nominal. The duration for repaying the loan was 36 months.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 06, 2019
    • HDB Financial Services Personal Loan
      "Good loan service if bank is rejected"
      0.5 3.0/5 "Satisfactory"
      HDC is a financial consultant company and i can get the loan easily with them. They have processed the loan in 3 days and they have given me a interest rate of 16% and the processing fee is nominal. I got the loan amount of Rs. 6.5 lakhs but the credited amount is close to 6.27 lakhs. Total tenure period of the loan is 3 years
      Was this review helpful? 2
      , chennai
      Reviewed on Jul 05, 2019
    • HDB Financial Services Personal Loan
      "True banker"
      0.5 5.0/5 "Blown Away!"
      There is a continuous status on their update regarding the loan. The HDB app is consecutively getting the updated of the status. Within 6 days, they have sanctioned the loan as well. I was going through the website and somebody called me and said its a pre-approved loan hence i have given all my documents.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 03, 2019
    • HDB Financial Services Personal Loan
      "Need to decrease charges"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan in HDFS before 10 months, which was processed directly with bank. As per my requirement I received a loan which was offered from bank for the duration of 3 years.The rate of interest is high but the processing fee is nominal. The documents verification process was smooth and on time loan got sanctioned.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jun 22, 2019
    • HDB Financial Services Personal Loan
      "Need to reduce rate of intrest "
      0.5 1.0/5 "Really Bad"
      "MY personal loan was taken with HDB FINANCIAL INSTITUTION . , Services were good with this bank only the thing is i have complaint with HDB FINANCIAL INSTITUTION that the rate of interest which they offered me is very high . EMI is 10158 and the tenure is 5 year the loan is 400000 . "
      Was this review helpful? 1
      , new delhi
      Reviewed on Jun 08, 2019
    • HDB Financial Services Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken a Personal loan from HDB FINANCIAL SERVICES a while back and the process in getting the loan was pretty much easy, the loan amount has been good and the interest rate has also been quite nominal when compared with the other banks. The processing charges has been nominal and their customer support team had also been helpful at times.
      Was this review helpful? 4
      , mumbai
      Reviewed on May 21, 2019
    • HDB Financial Services Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I do have a personal with HDB FINANCIAL SERVICES, the rate of interest is 17% which was very high compared to other banks. The loan amount is not sufficient and it was provided according to the documents and not for the customer requirement. And the norms will change after 6 to 8 months, they should call the customer and check if they required any further assistance. There were some processing fees levied too.
      Was this review helpful? 3
      , chennai
      Reviewed on May 14, 2019
    • HDB Financial Services Personal Loan
      "Should be genuine"
      0.5 3.0/5 "Satisfactory"
      Whenever I call to HDB finance customer care, I could not connect with them. They need to improve their help desk and also the loan interest is very high. Example if my emi date falls on Sunday, they wont take the auto debit on that day but they charge some fee, but they wont accept their mistake as well. Hence I paid the bonus charges last time.
      Was this review helpful? 3
      , bangalore
      Reviewed on May 13, 2019
    • HDB Financial Services Personal Loan
      "BETTER"
      0.5 3.5/5 "Pretty good"
      I have applied for the personal loan with the HDB FINANCIAL SERVICES where the documentation process was done on time and i got the loan with quick process added on that the rate of interest was higher when compared to the other loans. The service is good.
      Was this review helpful? 1
      , bangalore
      Reviewed on Apr 30, 2019
    • HDB Financial Services Personal Loan
      "Very good people "
      0.5 5.0/5 "Blown Away!"
      HDB has given me the expected amount what I am looking for for in that time . They are very nice people to see in banking sector . They serves customer very well . Understood my demand and worked according to that . I am okay with the interest rate and processing fees .
      Was this review helpful? 2
      , mumbai
      Reviewed on Apr 30, 2019
    • HDB Financial Services Personal Loan
      "Need improvement on the customer support"
      0.5 5.0/5 "Blown Away!"
      I have taken the loan from HDB Finance before two years, the interest rate was bit higher around 16% for the loan amount of Rs. 5 lakhs with the tenure of five years. The customer care needs lots of improvement on the response part. I don't have proper credit score but still they consider and gave me the personal loan that is the best part. The app is very easy to track the loan details.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 29, 2019
    • HDB Financial Services Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have been applied for my personal loan with HDB bank from past two years, the loan amount was sufficient they have been given me based on my requirement, the rate of interest they have been charged me higher than other bank i felt, they have charged me processing fee or not i have no idea, Still this loan is running.
      Was this review helpful? 1
      , kochi
      Reviewed on Apr 26, 2019
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