HDFC Bank Personal Loan: Interest Rate, Eligibility, Processing Fee & Customer Care

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HDFC BANK PERSONAL LOAN 

ABOUT HDFC BANK PERSONAL LOAN :

HDFC Bank is an Indian banking and financial services company. It was established in 1994 and their headquarters at Mumbai. It is one of India's leading private banks. HDFC Bank offers a wide range of financial products and banking services to customers.

BENEFITS OF HDFC BNK PERSONAL LOAN :

1. Loan upto 40 lakh :

HDFC Bank offers a personal loan to the customer from Minimum amount Rs. 50000 to maximum amount Rs 40 lakh.

2. Instant approval :

HDFC Bank pre approved loan within 10 seconds so you don't have to wait for so many times for the loan approval. The loan approval can be completed online from the comfort of your home or office.

3. Quick processing :

The customers should be processing for the personal loan from HDFC Bank in a very quick and easy way. So customers do not have to wait so many times for the processing of personal loans.

4. Provides good customer service :

HDFC Bank provides good customer service to the customers. 

5. Less documentation :

HDFC Bank required only a few documents such as ID proof and address proof along with income proof. Customers do not need to submit so many documents for the approval of a personal loan from HDFC Bank.

6. No security and guarantor required :

HDFC Bank is an unsecured loan so they don't not required any security and guarantor.


 FEE AND CHARGES OF HDFC BANK PERSONAL LOAN :

TYPE

CHARGES

Processing charge

Upto 2.5% of loan amount (Minimum Rs.1999 and Maximum Rs.25000)

Part-payment/Pre-payment charges

13-24 months: 4% of the outstanding balance

25-36 months:3% of the outstanding balance

After 36 months: 2% of the outstanding balance

Cheque bounce

Rs 550 per bounce

Cheque swapping charge

Rs.500


 

DOCUMENTS REQUIRED FOR HDFC BANK PERSONAL LOAN :      

TYPE

 

DOCUMENTS

Identity proof

Aadhar card, pan card, driving license, passport etc.

Address proof

Aadhar card, voter id, rental agreement, registry and utility bills

Income proof

Latest salary slip or salary certificate, Form 16 of last 2 years, and last 3 month bank statement

                  

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


ELIGIBILITY CRITERIA FOR HDFC BANK PERSONAL LOAN :

ELIGIBLE

Salaried, self-employed, private sector employees, government employees, doctors, teachers, Employees of various public and private companies, local bodies.

AGE

Salaried = 21 to 60 years

Self employed = 21 to 65 years  

INCOME

HDFC Bank Salary account:  Customer who earn a minimum of Rs. 25,000 net income per month

NON HDFC Bank Salary account Holder: Minimum of Rs. 50,000 net income per month

 

OTHER LOAN PRODUCTS OF HDFC BANK :

1. HDFC Bank Personal Loan 

2. HDFC Bank Business Loan 

3. HDFC Bank Holiday Loan 

4. HDFC Bank Car Loan 

5. HDFC Bank Credit Cards Loan 

6. HDFC Bank Commercial Vehicle Loan

 

HOW TO APPLY FOR HDFC BANK PERSONAL LOAN :

There is 2 ways you can apply for HDFC Bank personal loan i.e. :

  • Offline Method : Visit to HDFC bank branch office

  • Online Method :

    • Browse to HDFC bank portal

    • Now go to “Personal” section

    • Now go to “Borrow” menu and select “Popular loans”

    • Now click on “Personal loan”

    • Complete the registration form and attached all required documents

    • After that submit your application form

 

HOW TO CALCULATE EMI OF HDFC BANK PERSONAL LOAN :

EMI is calculated 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)

 

FREQUENTLY ASKED QUESTIONS :

1. How much interest rate charged by HDFC Bank personal loan?

From 10.75% to 21.50% interest rate charged by HDFC Bank personal loan.

2. What is the minimum and maximum tenure of HDFC Bank personal loan?

The minimum tenure is 1 year and maximum tenure is 5 years of HDFC Bank personal loan.

3. Is there security or collateral required to get a HDFC Bank personal loan?

No, HDFC Bank personal loan is not required to get security and collateral.

4. Is age an important factor to get HDFC Bank personal loan?

Yes, age is an important factor to get a HDFC Bank personal loan and the age should be at least 21 to 60 years for salaried employees and 21 years to 65 years for self employed.

5. How to apply for an HDFC Bank personal loan?

For, HDFC Bank personal loan you can apply online and offline both.

Last Updated on : 16/Jul/2020

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% of loan amount (Min. Rs.1999 and Max. Rs. 25000)
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

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


Your Monthly Loan EMI


₹24,959