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HDFC Personal Loan


Loan Name Interest Rate Processing Fee Loan Amount Tenure
HDFC Bank Personal Loan 15.50% - 21.50%, Fixed up to 2.50% of loan amount 40L Max 1-5 years
Details
Documents Required

  • Proof of Identity and Residence: Aadhaar Card, Passport, Driving License, Election ID Card
  • Duly filled in application form along with recent passport size photographs
  • Proof of Income: Last 6 months Bank statement showing salary credits, latest Form 16 and Income Tax Returns, Recent 3 months Salary Slips
  • Bank statements for the last 6 months
  • Employment Contract / Appointment Letter
  • Recent Pay Slip / Current dated salary certificate with the latest Form 16.
Benefits

  • The applicant gets 30 years to repay the loan
  • Attractive Interest Rates
  • Affordable and easier equated monthly instalments over the tenure of the loan
Eligibility

  • The minimum age of the applicant should be 21 years.
  • The maximum age of the applicant should be 60 years.
  • The applicant should be an Indian resident.
  • Individuals who are employed in private limited companies, public sector undertakings, central government, state government and local bodies are eligible to secure a personal loan
  • Individuals who are currently employed for at least 2 years, ewith minimum 1 year of experience with the current employer
  • An applicant will get a maximum tenure of 60 months to repay the loan.
  • Individuals who earn a minimum salary of Rs 15,000 per month (Rs 20,000 a month if they reside in metro cities like Bengaluru, Delhi, Mumbai, Chennai, Kolkata, Pune, Ahmedabad, Cochin).
Other Details

  • Get Personal Accident Cover up to Rs 8 lakhs and Critical Illness Cover of up to Rs 1 lakh.
  • The applicant can get a personalized product at special rates, offers and charges.
  • Get an option to get a flat processing fee of only Rs 1999 + applicable taxes
  • Loan Processing Fee for Salaried Individuals: Up to 2.50% of loan amount (minimum of Rs 1,999 and maximum of Rs 25,000)
  • No – prepayment either in full or part is permitted until repayment of 12 equated monthly instalments.

 FAQs

Q: What is the interest rate charged by HDFC bank for a personal loan?

A: HDFC bank will charge the interest rate in the following range starting from 11.25%-18% per annum on the outstanding amount of the bank.

Q: Who can avail a personal loan from HDFC bank?

A: HDFC bank provides personal loan only for salaried individuals.

Applicant should be employed either with the government, private or public sector.

Q: What is the time period for a personal loan to secure approval in HDFC bank?

A: On submitting the loan application and the required documents as per the bank's criteria, one can expect approval and disbursal of the loan amount within four hours.

Q: What is the benefit of having a salary account with the HDFC bank to avail personal loan?

A: If your salary account is from HDFC Bank then you will get extra benefits while applying for a personal loan. HDFC bank offers attractive interest rates, processing fee, speedy process with minimal documentation for those who have a salary account with HDFC.

Q: What are the documents required to avail personal loan from HDFC bank?

A: The following documents are required to avail the personal loan from HDFC bank:

  • Identity proof.
  • Address proof.
  • A bank statement form the last 6 months.
  • Salary payslip/current dated salary certificate with the latest Form-16.

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