HDBFS or HDB Financial Services, a subsidiary of HDFC Bank, is an NBFC that does not accept deposits. HDBFS has a widespread presence across the country with over 230 branches.
The company is engaged in lending activities both retail and to SMEs. This includes both secured and unsecured loans for various purposes. HDBFS also provides life and general insurance solutions aimed at financial protection and planning.
HDBFS Personal Loan Interest RatesUpdated on 25 Mar 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
Why choose HDB Financial Services Loans
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
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.
Key Features of HDBFS Personal Loan
The key features of personal loans from HBD Financial Services are outlined below:
Quantum of loan: As high as Rs.20 lakhs.
Loan period: Ranges from 1 to 3 years (12 - 36 months).
Interest rates: Competitive
Unsecured: No collateral or guarantor is required to avail the loan.
Documentation: Minimal
Special deals: For preferred employees
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 and documentation - Who can avail an HDBFS Personal Loan?
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)
I am happy with HDB Financial service. The loan process took one month and the response was good. There was a processing fee which is 5K for 2.5L. The loan tenure is 5 years. The documentation process was good. After 6 months, I can do the pre closure.
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RAJENDRA KARTHIK
, bangalore
Reviewed on Mar 22, 2019
HDB finance haven't submitted my ECS request to my salary account, I send the mail regarding this ECS issue but I got the reply after 20 days from their end. Hence I faced issue on my first emi, then they said to make the payment through online. At the time they didn't charge any late fee, now I am getting notification stating I need to pay some fee its not fair. Post process is not upto the mark hence I had undergone lots of issues here.
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0
LAKSHMI KALATHOOR SUJATHA
, bangalore
Reviewed on Mar 21, 2019
I have applied with HDB Personal Loan directly . The rate of interest is good and the processing is also nominal .I have applied for the loan amount of 3lakhs for the tenure of 5years .The agent clearly explained the process as well.Not yet faced any issues .The Overall Service is Good.
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2
GUNJAN BAJPAYEE
, bareilly
Reviewed on Mar 19, 2019
The personal has been taken from the HDB FINANCIAL SERVICES the loan amount what they have given is satisfactory also the rate of interest was higher and i am using it from last one year with this loan. the service is good with this loan. the process done within few days.
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0
PARMENDRA KUMAR
, new delhi
Reviewed on Mar 13, 2019
I take personal loan from HDB fiance service last 3 years .I am not satisfied rate of interested this bank my loan amount is 4L and 36 tenure and emi amount is 14170k.I paid last month emi in cash I have statement but hdb bank send me mail you didnâ??t pay so I want to closed this loan as soon as possible before my tenure date.
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0
MIRZA HUSSAIN
, hyderabad
Reviewed on Mar 12, 2019
HDB FS taking almost 10 days for applying the financial service . But ROI is very high 14 % . Physical process of docs verification done . Expectation amount was not fulfilled in HDB FS . I was looking for 6 lakhs but they sanctioned me 5 lakh for 60 months of tenure . Making customer so tired in the process of personal loan .
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7
ESWARAN SUBRAMANIYABARATHI
, chennai
Reviewed on Mar 06, 2019
I have taken the personal loan with the HDB FINANCIAL SERVICES the rate of interest was 16% which is very higher with this loan added on that i have been using it since from last one year. The loan amount is good and the duration for repaying the loan is for 5 years.
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2
MAHESH SHANKAR KASAR
, pune
Reviewed on Mar 04, 2019
HDB finance is better but the customer service is not good, they don't have transparency. I took 6L and the processing fee was high. Th rate of interest was also high compared to other financial service providers. It was a foreclosure and they have charged me 6% on the outstanding payment.
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1
BACHANAHALLI NAGARAJA HARISH
, bangalore
Reviewed on Mar 04, 2019
My personal loan was purchased 2 years back. I have got a offer from HDFC bank thats the reason i have chosen them. They have offered me a interest rate of 14% and I'm happy about it. Total tenure period of the loan is 5 years. I'm not sure about the processing fee and within a week, they have credited the loan in my account.
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1
ANIL RAMCHANDRA KARANDE
, thane
Reviewed on Feb 20, 2019
My personal loan is running with HDB finance, they know me very well, because I already had a loan again they gave me other offer, the documentation was very smooth within 10 to 15 days it got processed. I took the loan amount of Rs. 3 lakhs for the tenure of 3 yeas, the ecs option is flexible to pay my loan amount.
There is no particular reason for taking the personal loan from the HDB FINANCIAL SERVICES. The documentation process is simple and within a week i got the loan approval. The rate of interest is nominal also the duration to repay the loan is flexible.
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4
RAMESHBABU BABU CHIKKARS
, bangalore
Reviewed on Feb 02, 2019
I took my personal loan from HDB Financial services through online channel. The rate of interest is high and the processing fee was around 10K. I have taken 3L as personal loan and the duration is 4 years. My documents are submitted online and also executive came for verification. The loan was disbursed in 2 weeks.
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7
G SEKHAR BABU
, bangalore
Reviewed on Jan 19, 2019
I purchased a loan with HDB Financial services based on the interest rate. This is the least interest rate which i found in the website. I have purchased the loan through online. There was some processing fee which is very nominal. The loan got delayed by a week and they have sanctioned the loan as per their commitment.
HDB financial service have fulfilled my loan requirement, they have issued the personal loan of Rs. 9 lakhs for the loan period of five years. The interest rate is low as per expectation, the processing fee is good and also the documentation is upto the mark.
I have taken a personal loan with HDB financial services and my experience was good, the loan amount was for Rs 2 lacs with high interest rate when compared to others. Customer service was good and they responded on time. Tenure period for this loan is 3.5 years.
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4
GOPALAKRISHNA
, bangalore
Reviewed on Dec 20, 2018
HDB financial services and has a good job for me and they were on time to come over and take my documentation. The customer support is fine and they were responsive as well. The loan was processed was on time and the interest rate and charges is good.
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1
ASIF ARIF SHAIKH
, mumbai
Reviewed on Dec 16, 2018
The Personal loan experience with the has not been good where they had not been having a proper response with anything. They had also not intimated about the foreclosing charges as well which was around 4%. Their customer support response has also not been good and other charges has been there.
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1
VINOD BABAN AUTI
, hyderabad
Reviewed on Dec 11, 2018
I used to make the payment on time and i have received any calls from their customer care people. Interest rates are high which is 18% and the processing fee was Rs. 8000. I have got the loan amount of RS. 3 lakhs and i have closed the loan with the tenure period of 24 months. I paid the EMI of Rs. 18500 every month.
The process in getting this loan has been quite simple where it did not took much time. The loan amount whcih they had provided has been sufficient and the interest rate with them has been a little high, but it was okay. There has not been any additional charges made by them.
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1
KISHORKUMAR UTTAM TATKE
, pune
Reviewed on Dec 04, 2018
My personal loan was taken with HDB INSTITUTION , the rate of interest and processing fees was too high with this bank . The tenure period is 5year and it is sufficient to me . They gave option of preclosere but it is applicable after 6month . Customer service is not up to the mark and there are no much additional charges.
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2
NARESH BHANU LAD
, mumbai
Reviewed on Nov 20, 2018
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