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HDFC BANK PERSONAL LOAN

HDFC bank is one of the leading providers of personal loans which individuals can enjoy with a range of comfortable features and sound benefits. At times when your funds run short and there are plans to keep your word for, personal loan makes a good source. Whether you want to spend a vacation on picturesque Maldivian beaches or there are piles of wedding expenses which you are unable to pay off with the available funds, sometimes all you need to do is get a personal loan and get financial support. With HDFC bank personal loan, you can make it possible. There are competitive interest rates, easy repayment options, quick disbursement and much more that awaits you in the store.

HDFC Personal Loan Interest Rates & Charges

Interest Rate

Starts at 10.75% per annum

Repayment Tenure

Up to 5 years

Loan Amount

Up to Rs 40 lakh

Preclosure Charges

4% of the principal amount plus the applicable taxes outstanding in 2nd year

3% of the principal amount outstanding plus the applicable taxes in 3rd year

2.5% of the principal amount outstanding plus the applicable taxes afterwards

Features and Benefits of HDFC Personal Loan

HDFC bank personal loan is a type of loan which you can avail to meet your personal purposes. The loan is packed with many noteworthy features when it comes to interest charges, tenure and many other aspects. 

Here are the features and benefits of HDFC personal loan:

  1. Funds for Personal Purposes : HDFC bank allows you to take advantage of personal loans to treat yourself at times of financial needs. You can avail this loan to fund any of your personal purposes which include paying off wedding expenses, vacations and paying off your debts. This loan proves to be a helping hand at times when nothing seems to be suiting your plans. 

  2. Loan Amount : HDFC bank personal loan offers the loan amount ranging from Rs 50,0000 to Rs 40 lakh. You should inculcate the total amount you are running short of and apply for it with HDFC personal loan

  3. Interest Charges : HDFC bank provides personal loans at competitive rates of interest. The interest rate on this loan starts at 10.75% per annum and goes up to 21.30% per annum. Also, the interest charges are determined by the loan amount an individual is availing, the repayment tenure as well as the credit history.

  4. Repayment Tenure : HDFC bank personal loan comes with a flexible repayment tenure. The period ranges up to 5 years. 

  5. Prepayment : If you have sufficient funds to repay the personal loan before the tenure ends then you can make the prepayment and close the loan sooner. HDFC bank allows you to foreclose your loan and avoid interest charges. However, the bank applies prepayment charges in this case. 

  6. Easy Procedure : Applying for a personal loan from HDFC bank is easy. You can for it apply online or offline and the bank eases your time with minimum documentation. 

  7. Quick Approval and disbursement : The bank treats you with quick approval and fast disbursement. You will get the loan amount within a few minutes if you are a pre-approved customer.

HDFC Bank Personal Loan Eligibility

There are some eligibility standards set by HDFC which help determine whether you qualify to avail HDFC personal loan or not. Your eligibility for loan depends on various factors including age, income, employment. 

Here is the eligibility criteria for HDFC Pvt personal loan:

  1. The minimum age of an applicant should be 21 years. 

  2. The maximum age of an applicant should be 60 years. 

  3. The minimum net income of HDFC bank salary account holders should be at least Rs 25,000 per month. It should be at least Rs 50,000  per month for others. 

  4. Individuals who are employed in a public sector undertaking, private limited companies or with a Central, state or any local government body are eligible. 

  5. Individuals should have a working experience of at least 2 years.

Apart from the requirements mentioned above, the bank also takes credit score into consideration when determining your eligibility for loan. 

Document Required for HDFC Bank Personal Loan

You need to submit certain documents in order to successfully avail a personal loan by the bank. Here are the documents required for HDFC bank personal loan application:

Address Proof

Aadhar Card, Driving Licence, Voter’s ID Card, Passport

Identity Proof

Aadhar Card, Driving Licence, Voter’s ID Card, Passport

Income Proof

Bank Statements of last 3 months, Pay Slips, Form 16, Salary Certificate

Other Documents

Application Form, Passport-size photographs

COMPARE OTHERS BANK PERSONAL LOAN INTEREST RATE

BANKS

INTEREST RATES

AXIS Bank Personal Loan

12% to 24%

SBI Personal Loan

11.30% to 16.40%

SBI Xpress Bandhan

12.15% to 15.15%

SBI Xpress Credit Personal Loan

11.50% to 12%

HDFC Bank Personal loan

10.75% to 21.50%

Kotak Mahindra Bank Personal Loan

10.50% to 16.99%

Yes Bank Personal Loan

20.00% to 22.00%

Citi Bank Personal Loan

10.50% to 17.99%

ICICI Bank Personal Loan

10.99% to 16.25%

Standard Chartered Bank Personal Loan

11.00% to 19.20%

IDBI Bank Personal Loan

12.00% to 14.00%

RBL Bank Personal Loan

14.00% to 23.00%

HSBC Bank Personal Loan

10.75% to 17.84%

IndusInd Bank Personal Loan

11.00% to 16.75%

Bank of Baroda Personal Loan

7.65% to 12.65%

Bank of India Personal Loan

12.15% to 14.15%

Canara Bank Personal Loan

12.05% onwards

HDFC Bank Personal Loan EMI Calculator

One thing you should do when applying for a loan is calculate your EMI which can be done online. You can use the HDFC EMI calculator in order to see the amount of EMI you will have to pay every month. Doing this helps you restructure your budget and reassess the loan tenure you want to borrow the loan for. 

Here are the simple steps you can follow to use the HDFC Personal loan EMI calculator:

  1. Visit the HDFC official website.

  2. Go to the personal loan section.

  3. You should be able to see the EMI calculator on the page now.

  4. You have to input the loan amount you are availing, loan tenure and the rate of interest in the fields. 

  5. Hit the “Calculate” button once you have entered the details.

  6. You will now be able to see the Equated Monthly Installments (EMIs) you will have to pay every month. 

How to Calculate EMI of HDFC Bank Personal Loan

You Can also calculate personal loan EMI using the formula :

P x R x (1+R)^N] / [(1+R)^N-1]

Where;

  • P= Principal or your loan amount
  • R= Rate of interest
  • N= Tenure (loan term in number of years)

How to Track HDFC Bank Personal Loan Application Status

You can use the following channels if you want to check the status of your HDFC bank loan application:

  • Contact the HDFC bank customer helpline and ask the executive about the loan application status.

  • You can track the status of  your HDFC loan application via HDFC mobile app. 

  • Visit the official web portal of the bank.                   

Other Loans Provided by The HDFC Bank:

HDFC Business Loan  HDFC Home Loan
HDFC Car Loan HDFC Two Wheeler Loan

How to Apply for HDFC Bank Personal Loan

There is no fuss in applying for the personal loan HDFC bank. You can either apply for the loan offline or quickly start the application online. Here is what you need to do:

1. Apply for loan offline : You can apply for the HDFC Personal loan offline. In order to do that you need to visit the nearest branch of the bank. There, the official will assist you with the application procedure. Make sure you carry all the necessary documents when you visit the branch. 

2. Apply for loan offline : You need to follow these steps in order to apply for HDFC bank personal loan online:

  1. Navigate to the official website of HDFC bank.

  2. Now, stop at the “Borrow” section and click on the “Personal Loan” option.

  3. Once you are on the personal loan page, you need to hit the “Apply easily” button. 

  4. After, you will be required to input all the required details. 

HDFC Bank Personal Loan Customer Service

You can contact HDFC customer service if you have any query, complaint or any grievances. Here are the HDFC customer helpline numbers available in India:

  • Mumbai: 022-61606161

  • Pune: 020-61606161

  • Kolkata: 033-61606161

  • Bangalore: 080-61606161

  • Chennai: 044-61606161

  • Cochin: 0484 - 6160616 

  • Hyderabad: 040-61606161

  • Delhi and NCR: 011-61606161

  • Chandigarh: 0172-6160616

  • Jaipur: 0141-6160616

  • Ahmedabad: 079-61606161

  • Indore: 0731-6160616

  • Lucknow: 0522-6160616

FAQs on HDFC Bank Personal Loan

1. How can I check my HDFC loan status?

You can consider the following ways in order to check the status of your HDFC loan application:

  • Contact the HDFC customer service and ask the executive about the status of your loan application. 

  • Visit the official website of HDFC bank and track the loan application status. 

  • You can use the HDFC mobile application in order to track the status of HDFC loan application.

2. Can I take a HDFC top up loan?

Yes, you can take the HDFC top up loan. You can do this when you go for balance transfer with the bank. 

3. Can I get an HDFC personal loan on floating interest rates?

No. HDFC bank personal loans can only be availed at the fixed rates of interest. 

4. How can I repay my HDFC personal loan?

You can repay the loan in cash or cheque. You can also for channels like ECS or standing instructions. 

Last Updated on : 22/Mar/2021

Know More About

Hdfc Bank Personal Loan

You're eligible for a Hdfc Bank Personal Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Personal Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Hdfc Bank Personal Loan Interest Rates

Updated on 25 Nov 2017

Hdfc Bank Personal Loan Details
Interest Rate (Monthly reducing balance) 10.75% - 21.5%
Processing Fees Upto 2.50%
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Personal Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959