HDFC Personal Loan

Check Your Eligibility for HDFC Bank Personal Loan

*Applicable for selected customers

HDFC Bank also offers pre-approved personal loans to its select existing customers, including those applying through Paisabazaar, with instant loan disbursal in just 10 seconds.

Borrowers from other banks/NBFCs can also transfer their existing personal loans to HDFC Bank at lower interest rates.

Why Choose HDFC Bank Personal Loan

• Paperless Personal Loan: The applicants can get instant funds through Xpress Personal Loan with 100% digital process.
• Pre-Approved Offer: The bank provides pre-approved personal loan offers to its eligible customers.
• Minimum Paperwork: The loan application process requires less paperwork, especially for existing HDFC Bank customers.
• Quick Disbursal: HDFC claims to disburse personal loan within 10 seconds to its select customers.
• Balance Transfer Facility: Borrowers can transfer their personal loan to HDFC Bank at lower interest rates and better terms.

Why Apply for HDFC Bank Personal Loan via Paisabazaar?

• You can easily compare HDFC Bank’s personal loan offers with other lenders to make an informed borrowing decision.
• Check your personal loan eligibility, ensuring you apply for loans you’re most likely to get approved for.
• The loan application process is end-to-end digital with minimal documentation..
• Free credit score check, which helps you understand your loan eligibility.
• Get end-to-end support, from application to disbursal, ensuring a smooth borrowing experience.

HDFC Bank Personal Loan Interest Rate

HDFC personal loan interest rates start from 10.90% p.a. onwards. The final interest rates offered to the loan applicant would vary according to the credit score, monthly income, job profile, employer’s profile, etc. of the loan applicant.

HDFC Bank Personal Loan Processing Fees and Charges

HDFC Bank levies the following fees and charges on personal loans:-

HDFC Bank Personal Loan EMI Calculator

HDFC Bank personal loan EMI calculator can be used to calculate the EMIs and total interest cost payable throughout the loan tenure. The applicants need to enter the loan amount, interest rate and loan tenure in the personal loan EMI calculator and get instant results.

Types of HDFC Bank Personal Loan

HDFC Bank Personal Loan Eligibility

HDFC Bank has set the following eligibility criteria for its personal loan applicants.

• Individuals employed with private limited companies, public sector undertakings and central/state/local government bodies are eligible for HDFC Bank Personal Loan.
• The minimum age of the applicant at the time of loan application should be 21 years and the maximum age at the time of loan maturity should be 60 years.
• Applicants should have a total work experience of at least 2 years with a minimum experience of 1 year with the current employer.
• To avail HDFC Personal Loan, the minimum monthly income of applicants having a salary account with HDFC Bank should be Rs 25,000. However, the minimum monthly income of applicants not having a salary account with the bank should be Rs 50,000.

Additionally, HDFC personal loan eligibility may also depend on the credit score of its personal loan applicants.

Eligibility Criteria for Golden Edge Personal Loan

• Employees of private limited companies and public sector undertakings are eligible for HDFC Golden Edge Personal Loan
• Applicant should be 21 years old at the time of loan application and 60 years old at the time of loan maturity.
• The minimum monthly income requirement for availing HDFC Golden Edge Personal Loan is Rs 75,000.
• Individuals having a total work experience of minimum 2 years and an experience of at least 1 year with the current employer can avail Golden Edge Personal Loan.

Documents Required for HDFC Bank Personal Loan

HDFC Bank requires the following documents during the loan application process.

• ID Proof (Aadhaar card/driving license/voter ID/passport)
• Address Proof (Aadhaar card/driving license/voter ID/passport)
• Bank statement for past 3 months (updated passbook for last 6 months)
• Latest salary slips/latest salary certificate with Form 16

For Golden Edge Personal Loan

• Photo ID Proof and address proof
• Company ID card
• Copy of PAN card
• Salary slip of preceding 3 months
• Salary account statement for last 3 months
• Form 16 of previous financial year

Personal Loan Balance Transfer to HDFC Bank

Personal loan borrowers can lower their monthly outgo by transferring their personal loan balance to HDFC Bank at better terms and lower interest rates.

Key Features:

• Interest Rates starting from 10.90% p.a. on balance transfers.
• The facility is applicable for applicants with Net Take Home Salary (NTH) above Rs 50,000.
• Flat Processing Fee starting at Rs 6,500 plus GST
• Simplified process with minimal documentation and quick approval

How to Apply for HDFC Personal Loan Online

HDFC Bank has partnered with Paisabazaar to offer personal loan of up to Rs 40 lakh through Paisabazaar’s official website or mobile app. Further, you can easily compare offers from other top lenders like ICICI Bank, Axis Bank, and more.

Here are 5 simple steps to apply for an HDFC Bank Personal Loan via Paisabazaar:

Step 1: Kickstart your application by entering your mobile number

Step 2:  Provide your employment type – salaried or self-employed

Step 3: Complete secure verification with a OTP sent to your registered mobile number.

Step 4: Choose the desired loan amount and specify the purpose of the loan, such as wedding, travel, medical, or home renovation.

Step 5: View loan offers from HDFC Bank and compare them with other top banks. Select the best offer and apply instantly.

How to apply for HDFC Instant Personal Loans

HDFC Bank offers instant personal loan only to its pre-approved existing customers based on their credit profile. Such eligible customers can apply for HDFC instant personal loans through the official website of HDFC Bank or HDFC mobile app without any documentation. Existing customers of HDFC Bank can also visit Paisabazaar.com to check their eligibility for HDFC pre-approved instant personal loans and apply accordingly.

HDFC Personal Loan vs Other Personal Loan Lenders

HDFC Bank Personal Loan Customer Care

• Helpline number: 1800 1600 / 1800 2600 (Accessible across India) or chat with the bank’s intuitive virtual assistant called EVA for quick solutions

To know the HDFC Personal Loan customer care number in your city, click here

FAQs on HDFC Personal Laon

What is the current interest rate for HDFC Personal Loan?

The current interest rate for HDFC Bank Personal Loan starts from 10.90% p.a. and may vary based on the applicant’s credit profile.

What documents are required for an HDFC Personal Loan?

Applicants require salary proof for income verification with the latest form 16, bank statements of last 3 months, Voter ID/Aadhaar Card/Passport/Driving license for identity and address proof. For a pre-approved offer, no documents are required.

How can I avail personal loan from HDFC Bank?

You can avail HDFC Bank Personal Loan either through the official website of HDFC Bank or by visiting the HDFC Bank branches. Alternatively, you can also visit Paisabazaar.com to apply for HDFC Bank Personal Loan.

How to get HDFC Personal Loan statement?

You can download your personal loan statement through HDFC NetBanking, HDFC Mobile Banking App or by visiting the bank branch.

How much personal loan can I get on Rs 35,000 salary in HDFC?

Your loan eligibility depends on factors like income, credit score, EMI/NMI ratio, etc and minimum income criteria set by the lender. HDFC offers personal loan to those applicant having minimum monthly income of Rs 25,000.

What is the processing fee for Personal Loan in HDFC?

The processing fee for HDFC Personal Loan is up to Rs 6,500.

How to top up HDFC Personal Loan?

You can apply for a Top-Up Personal Loan through HDFC NetBanking or Mobile App or by visiting the nearest branch. The eligibility for a top-up depends on your repayment track record and have completed at least 6 EMI payments on the existing personal loan.

What is the EMI for Rs 10 lakh Personal Loan in HDFC?

For a Rs 10 lakh personal loan at 10.90% p.a. interest rate for 5 years, the EMI would be approximately Rs 21,693.

What is the minimum credit score required to avail HDFC Bank personal loan?

Bank considers a minimum credit score of 650 for availing personal loan.

What is the minimum salary requirement for availing HDFC Bank Personal Loan?

Applicants having a minimum net monthly income of Rs 25,000 are eligible for availing HDFC Bank Personal Loan.

What maximum loan amount can I avail from HDFC Bank if I have a minimum monthly salary of Rs 25,000?

HDFC Bank has not disclosed its EMI/NMI ratio for its personal loan applicants. However, lenders usually consider the EMI/NMI ratio less than 50-55% after factoring in the monthly expenses including the existing EMIs and EMIs of the proposed loans while evaluating their loan amount eligibility.

How can I pay the EMI for HDFC Bank Personal Loan?

You can pay your HDFC Bank Personal Loan EMI either through ECS or through standing instructions where the EMI amount would be debited from your bank account.

How long does it take the HDFC Bank to disburse a personal loan?

HDFC Bank usually disburses personal loan within 4 working days from the date of application. It also offers pre-approved instant personal loans to select customers where the funds are disbursed in just 10 seconds, with no documentation.

How can I check my outstanding personal loan balance in HDFC Bank?

You can check the outstanding balance of HDFC Personal Loan through HDFC Net Banking or HDFC Mobile Banking app. You can also visit the HDFC Bank branches to check your outstanding personal loan balance.

Can having a salary account with HDFC Bank help in availing Personal Loan?

Having a salary account, savings account or any other deposit or lending relationship with HDFC Bank may help you to avail Personal Loan from HDFC Bank at lower interest rates. However, the bank will also consider factors like your geographic location, monthly income, existing loans, credit score, employer’s profile, etc. while evaluating your personal loan eligibility.

Is foreclosure of HDFC Bank Personal Loan allowed?

Yes, foreclosure of HDFC Bank personal loan is allowed, after 12 months of availing the personal loan. The foreclosure charges go up to 4% of the outstanding principal amount.

Can I part-prepay my HDFC Bank Personal Loan?

You can make part-prepayment on HDFC personal loan only after the repayment of 12 EMIs. Part-prepayment is allowed up to 25% of outstanding principal only once in the financial year and twice during the loan tenure.

How can we check HDFC Bank Personal Loan status?

HDFC Bank Personal Loan applicants can check their application status online as well as offline. The applicants can visit the official website of HDFC Bank and click on “Track your application” option in the “personal loan tab”. HDFC Personal Loan Tracker will open. Applicants can fill in the required details and click submit. HDFC Bank Personal Loan Status will be reflected on the screen. Applicants can also call on HDFC Bank Personal Loan customer care numbers or visit the nearest HDFC Bank branch to know their HDFC Bank Personal Loan status.

How can I repay my HDFC Personal Loan?

You can repay your HDFC Bank Personal Loan in equated monthly instalments. The loan will be repaid through post-dated cheques. HDFC personal loan can also be repaid through ECS or a standing instruction (in case of existing saving/current account holders). You can also use HDFC Personal Loan EMI Calculator to know how much EMI you need to pay.