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HDFC personal loan is offered at interest rate starting 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% - 21.45%.
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
Interest Rate
10.75% to 21.45% p.a. (Rack interest rate)
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
Loan 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).
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.
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.
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I have taken a personal loan with HDFC BANK on a month before which was process through an online. The rate of interest was 12% which was high. On time I received a call from their end. The loan amount was sufficient for the tenure period of 5 years. Since interest was high I have closed from my end.
I have taken a personal loan with HDFC BANK for more than 8 months before, which was processed through an online. They have told as pre approval loan for the tenure period of 3 years. But they have given for 2.9 lakhs. EMI payment I use to pay for 10 thousands rupees. Rate of interest was nominal 11.5%.
I had applied personal loan from HDFC Bank. My requirement was 2 lakh but they closed my application as I was not able to provide salary slip or ITR. I own a small business so I don't have ITR. Rate of interest is 17.5% it's nominal. Their customer service was good.
I was applied for a personal loan with HDFC bank on a month before which was processed through an online. On time I received a call from bank end for verification for twice. The loan amount was sufficient for the tenure period of 3 years. The rate of interest 12.5%. Since I got a loan amount from other source I have not process for further.
I was applied for a personal loan with HDFC bank on a month before which was processed through an online for a verification call I received a call for delay after 15 days. The rate of interest was high of 15%. They offered for sufficient amount for the tenure of 5 years. Since interest was high I have not process for further.
When I was applied for a personal loan with HDFC bank on a month before which was processed through an online, the verification call I received on time. The rate of interest was high. They offered for 3 lakhs amount for the tenure of 3 years. Since I am unable to submit the documents from bank closed the loan.
I have taken a personal loan with HDFC BANK on a month before which was process through an online. The rate of interest was nominal. I received a call on time from their end. Their service is good. The loan amount was sufficient of 2.4 lakhs for the tenure period of 5 years. From bank end closed the loan process and not intimate the reason as well.
I have taken a personal loan with HDFC BANK on a month before which was process through an online. The rate of interest was 18% which was high. So far I have not get any call from bank end for further verification. The loan amount was sufficient for the tenure period of 2 years. From bank end closed the loan process and not intimate the reason as well.
I have taken a personal loan with HDFC bank on one year before which was applied directly to bank. The verification process was done on smooth and within 2 days I received a card. Based on my salary they have provided a loan amount which was okay for tenure of 3 years. The rate of interest was 15% which was okay.
I have applied for HDFC Bank credit card through Online .I have not availed this loan since got the amount from some other source .I have got all the details about the loan process very clearly .The rate of interest was very high and there was no difficulties faced so far .There was good response and follow up from bank end .
I have applied for HDFC Bank personal loan through Online .I have not availed this loan since the rate of interest was very high .I have not submitted any of my documents and agent gave all the information about the loan process .I am not satisfied with the service .
I have provided the required documents to HDFC BANK via online but after that I got a msg that there was lack of my interest in submitting the documents and it got closed and there was no proper information for canceling which I did not approach them and left it like that. The interest rate i average.
When I applied for a personal loan with HDFC bank a month before which was processed through an online for a verification call was delay from bank after 5 days only I received. The rate of interest was high of 17.9%. So I am not satisfy with interest. They offered for 4 lakhs amount for the tenure of 5 years.
HDFC BANK took around 5 to 7 days for the personal loan disbursement, when I have applied it through online. They have provided me a sufficient amount, the interest rate should be minimal but its acceptable. The processing fee is around 6 to 7K. The loan duration is 5years.
Because I'm having a salary account with HDFC, i had chosen the Personal loan from them. They gave me a interest rate of 12.55% for the loan amount of Rs. 70000. I am paying the EMI of Rs. 3330. I have chosen the duration of 2 years. It took 8 to 10 days to sanctioned the loan.
The rate of interest was bit higher with HDFC BANK when I compared with other banks. There is a processing fee as well. The documentation process was superb and had a savings account, there was no documentation required from my end. I opted the loan for a year.
I took a personal loan from HDFC BANK through online channel. The interest rate is very higher and they have charged me around 19% excluding processing fee. I opted the loan of 2L for 2 years. The documentation process was simple. The loan was disbursed on time.
I was applied for a personal loan with HDFC BANK on a month before I have not receive any call from their end for further process so no experience with them. The loan amount offered for 2 lakhs for the tenure period of 3 years. The rate of interest around of 11% which was okay.
I applied for a personal loan with HDFC BANK through an online. For further process verification I have received a call from bank end. The amount was low was okay for the tenure period of 4 years. Rate of interest was 16%. From bank closed the loan process and the reason was not intimated to us.
I have applied for a personal loan with 2 to 3banks on the same time but HDFC is the first bank who approved my loan faster so have availed the loan from them. The interest rate is better and they have charged me a processing fee too. Overall it was satisfactory.
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