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)
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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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.
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.
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.
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%.
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.
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.
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.
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1
MOHAMMED KHAJA PASHA
, hyderabad
Reviewed on Jul 20, 2019
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.
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.
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
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.
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.
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2
SRIDHAR VARMA
, hyderabad
Reviewed on Jun 22, 2019
"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 .
"
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1
BHIM KUMAR THAPA
, new delhi
Reviewed on Jun 08, 2019
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.
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4
RAMNIVAS SHAMLAL SUWASIYA
, mumbai
Reviewed on May 21, 2019
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.
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3
VEERARAGHAVAN AKILANDESWARI
, chennai
Reviewed on May 14, 2019
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.
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3
RANJITH CHANDRA
, bangalore
Reviewed on May 13, 2019
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.
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 .
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2
ASHOK SHANKAR LA CHOUHAN
, mumbai
Reviewed on Apr 30, 2019
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.
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0
STALIN JASH AMARA
, mumbai
Reviewed on Apr 29, 2019
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.
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1
GOVIND SUNIL MULLETH
, kochi
Reviewed on Apr 26, 2019
Details
100% PAPERLESS APPROVAL
