Sit back. Initializing magnetic field for maximum savings on personal loan
We're checking for offers ......
HDFC personal loan is offered at interest rate starting at 10.75% p.a. The lender offers multiple loan tenure options, quick processing, and great customer service. Check your eligibility and apply for a loan today.
No collateral or security required to avail a personal loan.
Loan disbursal within a day of applying for the loan.
HDFC personal loan interest rates range from 10.75% - 21.50% p.a.
Borrowers can opt for the ‘Sarv Suraksha Pro’ policy, which provides a credit shield cover, an accidental hospitalisation cover, and a permanent disability/accidental death cover.
Borrowers can also avail an optional insurance cover that will offer coverage against personal accidents and critical illnesses.
HDFC Bank Personal Loan Details
Rack Interest Rate
10.75% to 21.50% p.a.
Loan Amount
Rs.50,000 to Rs.40 lakh
Benefits
Disbursal in 10 seconds for pre-approved customers and in four hours for other applicants
Minimal documentation required
The loan application can be submitted online through Bankbazaar
Fees and Charges
The various fees and charges that are levied by HDFC Bank are:
Loan processing fee
Up to a maximum of 2.5% of the loan amount, subject to a minimum fee of Rs.1,999 and a maximum fee of Rs.25,000
Pre-payment/Part-payment charges
4% of the outstanding principal (loan tenure between 13 - 24 months)
3% of the outstanding principal (loan tenure between 25 - 36 months)
2% of the outstanding principal (loan tenure if over 36 months)
Overdue EMI interest
2% per month will be charged on the principal or EMI that is overdue
Stamp duty and other statutory fees
As per the laws of the state that the applicant resides in
Cheque swapping fee
Rs.500
Amortization schedule fee
Rs.200
Cheque bounce charges
Rs.550 per event
Incidental or legal charges
At actual
Eligibility Criteria
You should be employed at a private company, a public sector company, or with a state, central, or local government body.
You should be over the age of 21 years. The maximum age is 60 years.
You should have an overall work experience of at least 2 years.
You should have been employed at their present organization for a minimum of 1 year.
Residents of Mumbai, Bengaluru, Delhi, Hyderabad, Chennai, Ahmedabad, Kolkata, Pune, and Cochin should have a minimum income of Rs.20,000 per month.
Residents of other cities should earn at least Rs.15,000 per month.
Documents Required
Proof of identity
Aadhaar Card, Driving Licence, Passport, or Voter ID Card
Proof of address
Voter ID Card, Aadhaar Card, Passport, or Driving Licence
Other documents
Bank statements for the last three months or passbook of the last six months
Latest salary slip or salary certificate
Form 16
Passport-size photograph
How the EMI calculation works for HDFC personal loan?
Let’s take a personal loan of Rs.1 lakh for a tenure of 6 months. Assume that HDFC charges an interest rate of 15.5% p.a. For the repayment tenure, you must pay an EMI of Rs.17,428. The loan repayment schedule is given as follows:
Months
Principal
Interest
EMI (principal + interest)
Balance
Percentage of loan paid to date
1
Rs.16,137
Rs.1,292
Rs.17,428
Rs.83,863
16.14%
2
Rs.16,345
Rs.1,083
Rs.17,428
Rs.67,519
32.48%
3
Rs.16,556
Rs.872
Rs.17,428
Rs.50,962
49.04%
4
Rs.16,770
Rs.658
Rs.17,428
Rs.34,192
65.81%
5
Rs.16,987
Rs.442
Rs.17,428
Rs.17,206
82.79%
6
Rs.17,206
Rs.222
Rs.17,428
Rs.0
100.00%
Compare HDFC personal loan with loan from other lenders
Fees and charges
HDFC Bank Personal Loan
Aditya Birla Capital
Bank of India Personal Loan
Citibank Personal Loan
Interest rate
10.75% p.a. onwards
11% p.a. onwards
12.90% p.a. onwards
10.99% p.a. onwards
Processing fee
2.5% + GST
2% + GST
2% + GST
0.25% to 3.00% + GST
Foreclosure charges
2% to 4% of the outstanding loan amount
3% of the outstanding loan amount
N/A
Up to 4% of the principal outstanding
Late payment fee
2% of the overdue amount per month
2% of the overdue amount per month
Contact the bank for details
Contact the bank for details
Before you apply for a personal loan from HDFC Bank, ensure that you go through the loan particulars, check your eligibility, and are familiar with the terms and conditions of the lender.
You can repay your loan amount in Equated Monthly Installments (EMIs). The loan repayments can be done via post-dated cheques, ECS, or via a standing instruction to debit the repayment amount from your HDFC Bank account.
When can I take an HDFC top up loan?
You can take a top up loan from HDFC when you opt for a balance transfer with HDFC.
Can business owners take personal loans from HDFC Bank?
No, HDFC Bank only offers personal loans to salaried individuals. Applicants are required to be employed with a private, public sector, or government body at the time of taking the loan.
Can I avail a personal loan from HDFC Bank on a floating rate of interest?
No, HDFC Bank charges a fixed rate of interest for personal loans.
Does HDFC Bank allow part-payment of the loan amount and are there any conditions for the same?
For personal loans that were disbursed on or after 1 April 2018, you can make part-payments, provided you have paid at least 12 EMIs.
What are the conditions that are applicable when making part-payments?
Part-payments can only be made twice during the entire loan tenure.
Borrowers can only make a part-payment once in any given fiscal.
Each part-payment cannot be more than 25% of the outstanding principal amount.
You may have to pay a part-payment charge to the lender when making such a payment.
What is the repayment tenure for personal loans issued by HDFC Bank?
If you take a personal loan from HDFC Bank, you will need to repay the due amount within 1 year to 5 years (12 to 60 months).
How to check HDFC personal loan status?
You can check the status of your HDFC personal loan application by visiting the website of HDFC bank. All you need to provide is the reference or proposal number along with the date of birth or mobile number.
Subsidiary of HDFC Bank to raise 300 million dollars through overseas syndicated loan
In its first-ever overseas syndicated loan, HDB Financial Services, an arm of HDFC Bank Limited is raising 300 million dollars. Through this, HDB Financial Services will be diversifying its borrowing resources and the syndication programme has already been launched. The programme, which will get over soon, will have a 3-year maturity. The pricing is likely to be done after the addition of 133 basis points over the London Interbank Offered Rate (LIBOR). Country’s largest public sector lender, the State Bank of India (SBI) is helping the company in the process. Other banks such as Bank of Baroda and HSBC will also be part of the fund-raising process. A few months ago, it was reported that HDFC Bank had plans to sell the shares in HDB Financial Services to raise around Rs.10,000 crore before 31 March. Post the defaulting of the Infrastructure Leasing & Financial Service (IL&FS), non-banking financial companies (NBFCs) in the country have been struggling to raise funds which have prompted them to explore overseas credit markets.
10 December 2019
HDFC gets rewarded by investors for sailing through tough market
Over the last many quarters, HDFC Limited has been cautious in lending to real estate developers due to which its balance sheet has been protected. The asset quality of HDFC has stayed intact while its net non-performing assets (NPAs) increased marginally to constitute 1.33% of the total loan book majorly because of dip in the non-individual book. The Vice-Chairman and Chief Executive of HDFC Limited has stated that the growth in loan disbursals was led by individual borrowers when there was a 3% growth in non-individual book. He further stated that 97% of incremental growth in loan book was because of individual loans. One-time gains and rise in dividends from subsidiaries including HDFC Bank led to the stellar jump of 60% in the net profit for the quarter ended September. HDFC also clocked a gain of Rs.1,627 crore by selling its stakes in Gruh Finance. The company has been able to maintain its margins partly because of the edge it has in borrowing costs which, in turn, is because of the aggressive pricing of its bonds.
7 November 2019
9.89% stakes of Bandhan Bank acquired by HDFC Limited
As part of the merger scheme, 9.89% stake in Bandhan Bank has been acquired by HDFC Limited, the confirmation of which was given through a regulatory filing. The filing also revealed that as many as 15.93 crore shares of Bandhan Bank, which was recently merged with Gruh Finance, was transferred to HDFC Limited. The merger formed a part of the stake dilution exercise to fulfill the stipulation of the Reserve Bank of India (RBI). A penalty of Rs.1 crore was imposed by RBI on Bandhan Bank for not cutting down the promotor shareholding to 40% as per its timeline. The filing also stated that the merger between Bandhan Bank and Gruh Finance was promoted by HDFC Limited which the shareholders, requisite authorities, and creditors of the companies approved. The merger was effective 17 October 2019 in accordance with which, 9.89% stakes of Bandhan Bank has been allotted to mortgage firm HDFC Limited.
5 November 2019
HDFC Bank expects growth in retail loans, sees 22% growth in profits
The September quarterly results of HDFC Bank may be hampered by the government’s decision to change the deferred tax asset (DTA). Analysts believe that despite this, the bank may record a year-on-year (YoY) growth in net profit at about Rs.6,164 crore. HDFC Bank will report its earnings on 19 October 2019. Many analysts also believe that the DTA of the bank could be hit by Rs.1,200 crore in the present quarter. A net higher tax flow may result from the lower tax cut pegging the net profit at Rs.6,102.6 crore which is up 22% YoY. During the quarter, stocks of HDFC Bank outperformed the benchmark indices when it dipped by only 1.2% when the S&P BSE Bankex tumbled by 12.1%. For the second quarter of FY2020, HDFC Bank witnessed a loan growth of 17 to 19% YoY and on the deposit front, the bank is expected to peg Rs.2 lakh crore which is a jump of 23% YoY. The net interest margin of the company is expected to be at 4.33% for the quarter.
23 October 2019
HDFC Bank Q2 net profit jumps to Rs.5,006 crore
HDFC Bank, one of the largest lenders in the country saw its new profit for the second quarter of the year jump 21% compared to Q2 of the last financial year. Net profits during the quarter ending September stood at Rs.5,006 crore, as against Rs.4,151 crore for Q2 of the last year.
There was no change in the gross NPAs of the bank, which stood at 1.33%. A key contributor to the net profit was the net interest income, which stood at Rs.11,763 during the quarter. In terms of loans, personal loans accounted for 21% of the retail loan portfolio of the bank. Auto loans accounted for 20% of the same.
In terms of numbers, personal loans saw a 37% increase to Rs.83,426 core, with auto loans being Rs.80,336 crore.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
I have taken a personal loan from HDFC. I selected the tenure of 3 years, and i am paying Rs.7566. The rate of intetrest was very high 22% need to decrease. Documentation was simple i uploaded and also executive collected . Customer sevice was good and i went to bank directly within 1 day i received loan and documentation charges Rs. 8900 deducted.
Was this review helpful?
1
ELAYARAJA ELAYARAJA
, hosur
Reviewed on Jan 20, 2020
I have taken a personal loan from HDFC through online. The rate of interest was very low 10.99% and i have taken loan for Rs. 3.65L with the tenure of 60 months. I am paying EMI 8,200rupees and the customer service was okay. Documentation process was good and also it took 20 days to receive this card, which was very lengthy process. They deducted Rs. 10K for processing fee and i am not sure about the fore closure charges.
Its because of the lower rate of interest rate, i have chosen the personal loan from HDFC. Took the loan amount of Rs. 2.85 lakhs and the processing fee was Rs. 3000. I have paying the EMI amount of Rs. 7754 and duration is 48 months. Within 4 days, they have sanctioned the loan. They have sent welcome kit to my residential address regarding my personal loan.
I have applied a personal loan with HDFC bank through online process. The process was smooth but they have sanctioned the loan after one month. The amount was okay with tenure period of 3 years. Interest rate of 22% is high and locking period of one year. I use to pay EMI of 7600 rupees and get remainder message on time.
HDFC bank service is excellent. They will give all documentation to the customer whenever needed even i get PDF. Each and every transaction I get an update from their end. If I have query no need to call them , rather I could check in PDF itself. They sanctioned the loan amount of 3L with tenure period of 2 years. Interest is nominal. Preclosure was avail. Once I had closed the loan on spot I got NOC letter. I am happy with their service.
I applied a personal loan with HDFC through online. The loan got disbursed within 10 to 15 working days. The interest rate was high at 16% for Rs.2.50L loan amount and i have selected for 3 years but they given as 5 years tenure without my concern . Fore closure options is available but i am not sure and the EMI 5500. Customer service was okay.
I applied a personal loan with HDFC BANK through online for traveling purpose. The loan got disbursed within 3 to 4 working days. The interest rate was normal at 12%for 60K loan amount. Fore closure options is available only after 12 EMI with no cost.
I had an offer only with HDFC Bank for personal loan, so I had applied through online and the loan got disbursed with in a week. I have taken a loan amount of Rs. 1L with tenure period of 3 years. I am paying the monthly EMI of Rs.3500 and I am not aware of exact interest rate.
I have applied a personal loan with HDFC BANK through online. I got a call on delay after 2 days. The loan amount was sanctioned of 3L with tenure period of 4 years. Interest of 16.5%. There is no option of pre closure. EMI use to pay of 8600 rupees. Since I am holding an account with them so applied for the loan.
HDFC bank has offered high rate of interest. Once I had applied through online. I got a call from bank end after 10 days which was delay. The amount was sanctioned with sufficient amount with tenure period of 4 years. But I had requested for 2 years. They have not accepted for that. Interest rate is high. There is option of pre closure locking period of one year. EMI use to pay of 5600 rupees.
I have taken a personal loan from HDFC bank through online. There was a little delay to get a call from their end for verification process so took around 3-6 days. I need to be follow up after all process done they have sanctioned the loan by 25-30 days. It was very lengthy process. The amount of 1.8L sanctioned and received the amount of 1.67L with tenure period of 3 years. Interest is 18% and fee of 12%. There is no pre closure option for this loan. EMI use to pay of 6200 rupees.
I have applied HDFC BANK personal loan through online. The bank executive are not giving the proper response for the application as it is applied via online. I have taken a loan amount of 2 L and the interest rate was normal. I have submitted required documents as hard copies to the banker.
I applied for HDFC personal loan through online and uploaded the documents, on the same day loan amount credit into my account. There is no verification process. I have taken a loan amount of 4 lakhs with the interest rate 17% which is normal EMI 9K with the tenure of 4 years.
I have applied a personal loan from HDFC bank through their website, the process was easy and loan got disbursed with in 2 days. I have taken a loan amount of 1L with the good rate of interest. This loan which i was taken 4-5 years back, now i completed at that time interest was high but okay for me.
I have taken a personal loan from HDFC bank and the loan amount was 2L and I am okay with rate of interest. EMI paying on every month Rs. 6,421 for the tenure of 3 years. Documentation process was simple executive collected and also I received within a week.
I have applied a personal loan from HDFC bank through online. The loan amount of Rs. 2.05L and the interest rate was high of 11.9% with 4 years tenure period. I am paying EMI of 6,000 and I receive within 15 to 20 days. The customer service and responsiveness are okay.
I have applied a personal loan from HDFC through online and the loan amount was Rs. 8.50L and interest was 10.75% that is good and also the tenure of 5 years, pre closure not sure i think after 6 months with charges of 3-4%. The documentation process was very delay and it took approximate one month. I have uploaded through online. The customer service is not satisfactory need to improve it.
I am using HDFC credit card and their staff response is good, its because of the good process i took my personal loan from HDFC 4 months back. Received the loan amount of Rs. 5.40 lakhs and the provided interest rate is 12.5%. I have been paying the EMI amount of Rs. 12149 every month. I have to pay this amount for 5 years.
I have applied a personal loan with HDFC bank through online few months before. I have requested for 1.5L but have sanctioned for top up with my existing loan of 1.08L with tenure period of 4 years which is high for my needs because I requested for 3 years only. Rate of interest was okay when compared to other bank. EMI use to pay of 4K.
I got a call on time from HDFC bank. The process was done on smooth so they have sanctioned the loan within 3 days. As of now the amount is sufficient with tenure period of 5 years. Interest rate of 11% and fee of around of 10K with insurance which is high. EMI use to pay of 10,900 rupees. They have provided option for pre closure with charge of 4% which I have neglected it.
Details
100% PAPERLESS APPROVAL
