HDFC Bank Personal Loan
HDFC Bank is one of the major private sector banks in terms of assets in India. In addition, it is the third-largest company by market capitalization on the Indian stock exchanges.
HDFC Bank Personal Loan Key Features
- Check eligibility online in under one minute or by using the Personal Loan Eligibility Calculator, available at selected branches.
- Get the funds in under 10 seconds if you are an already pre-approved HDFC Bank customer. Other customers can get the loan in under 4 hours.
- We can obtain the loan amount in just one working day on the submission of documents.
- We can submit a loan application online.
- Insurance for your protection:
- Personal Accident Cover
- Personal Loan Security
- A Personal Loan is made available for your every need with customized offers, special rates and charges.
- Lower your Personal Loan EMI by doing a balance transfer to HDFC Bank.
HDFC Bank Personal Loan Eligibility Criteria
You are eligible to apply for a Personal Loan if you meet the following criteria:
- Employees of private limited companies, public sector undertakings, including central, state and local bodies are eligible.
- Individuals between the ages of 21 and 60 years.
- Individuals who have had a job for at least 2 years, with a minimum of 1-year work duration with the current employer.
- Individuals who earn a minimum of Rs. 25,000 net income per month.
HDFC Bank Personal Loan Charges
Charges to avail HDFC Bank Personal Loan:
|Fee||Amount to be paid|
|Rack Interest Rate||10.50% to 21.00%|
|Loan Processing Charges||Upto 2.5% of the loan amount subject to a maximum of Rs. 25,000 for salaried customers|
|Stamp Duty & Other Statutory Charges||As per applicable|
Charges Post Loan Disbursement:
|Fee||Amount to be paid|
|Overdue EMI Interest||2% per month on EMI/Principal Overdue|
|Legal/Incidental Charges||At actuals|
|Amortization Schedule Charges||Rs. 200/-|
|Cheque Swapping Charges||Rs. 500/-|
|Cheque Bounce Charges||Effective from 1st July 2021
1st return at Rs.450 + taxes per instance
2nd in a month Rs.500 + taxes per instance
& 3rd onwards Rs.550 + taxes per instance
(10% discount for Senior Citizens)
Effective till 30th June 2021
₹ 550/- per cheque bounce
|Loan Cancellation Charges and Rebooking Charges||NIL (However client would be charged interest for the interim period between date of loan disbursement and loan cancellation and Processing Fees would be retained.) ₹ 1000/- for rebooking the loan.|
Pre Payment Charges:
|Fee||Amount to be paid|
|Pre-payment in Part or Full||Salaried – No pre-payment in Part or Full permitted until repayment of 12 EMIs
Part-payment allowed up to 25% of Principal Outstanding. It is allowed only once in the financial year and twice during the loan tenure.
(on principal outstanding) /
(on part-payment amount)
13-24 months – 4% of principal outstanding
25-36 months – 3% of principal outstanding
>36 months – 2% of principal outstanding
Documents required for HDFC Bank Personal Loan
- Identity proof – Copy of passport/voter ID card/driving license/Aadhaar.
- Address proof – Copy of passport/voter ID card/driving license/Aadhaar.
- Bank statement of previous 3 months – Passbook of last 6 months.
- Two latest salary slips/current dated salary certificate with the latest Form 16.
Steps to avail HDFC Bank Personal Loan
There are five easy steps to avail a personal loan from HDFC Bank:
- Determine your requirement – Why you need a loan and how much do you need.
- Check eligibility for loan – After determining the loan amount required, check if you are eligible for the loan.
- Calculate monthly installments – Make use of an online EMI calculator to calculate your monthly approximate loan repayment amount. You can adjust the interest rate and tenure to match your monthly income.
- Approach the bank – You can apply for an HDFC Bank Personal Loan online, via Netbanking, at an ATM or by visiting a bank branch.
- Submit the required documents and get the loan after verification.
Why should you apply for HDFC Bank Personal Loan with Dialabank?
- Our motto here at Dialabank is ‘make things simple’. We help bring all information related to HDFC Bank Personal Loans in a detailed and easy-to-understand manner.
- We don’t charge you for our services.
- We help you avail the best features available.
- We help you apply for an HDFC Bank Personal Loan without any hassle through our website.
- We offer a document pick-up facility from your doorsteps.
- We offer a personalized service.
Different types of Personal Loan offered by HDFC Bank
Personal Loan for COVID
At HDFC Bank, you can get up to Rs. 5 Lakh for COVID treatment and related expenses. The loan is provided at affordable and concessional rates and a flexible tenure of 1 to 5 years to provide much-needed relief.
The Marriage Loan comes with a variety of EMI repayment options and flexible tenures to suit customers. Added to that is the easy online process and quick disbursal to help you plan the wedding.
The travel loan offer is just what you need to plan your dream vacation- whether that is a beach holiday or a getaway to the hills and snow-covered ranges are totally up to you.
An Emergency Loan is a Personal Loan that can be used to finance unforeseen expenses. You can use the money to deal with all kinds of personal emergencies, be it medical bills, education expenses, wedding planning or anything else that may require additional funds.
Debt Consolidation Loan
You can take a Personal Loan of up to Rs 40 lakh to consolidate your debt obligations and streamline payments while also improving loan terms. Moreover, if you have a good credit history, banks may even offer lower, more competitive interest rates on the Personal Loan, helping you bring down your overall interest rate.
Home Renovation Loan
You can take a Personal Loan for Home Renovation from HDFC Bank and give your home that much-needed makeover. With this, you improve the aesthetic appeal and value of your home for future sale.
Personal Loan for Students
Unlike in an Education Loan, there isn’t any restriction on using a Personal Loan for students. From funding your stay while you pursue your higher education abroad to paying off a part or the entirety of your tuition fees, how you utilize the funds is entirely dependent on you.
Personal Loan for Teachers
Teachers can avail extra funds for personal needs by applying for a Personal Loan for teachers. You can use HDFC Eligibility Calculator to check if you are eligible to avail the loan option.
Personal Loan for Women
To help women meet their growing financial needs, HDFC Bank offers loans for women. Available at competitive interest rates, HDFC Bank Personal Loan for women comes with flexible repayment options and tenures. The process involves an easy online application, instant approval and quick disbursal.
Personal Loan for Salaried Employees
HDFC Bank’s Personal Loans for salaried employees gives employees the funds to quickly meet the cost of any medical emergency, vacation or education plans, a wedding, or even home renovation. In addition, these loans help make sure salaried employees are poised to tackle any extra expenses that may crop up.
Personal Loan for Government Employees
HDFC Bank Personal Loan for Government Employees is available to employees of public sector undertakings (PSUs), including central, state and local bodies. The Personal Loan for government employees offered by HDFC bank comes with a tenure of up to 6 years.
FAQs about HDFC Bank Personal Loan
✅ How long does HDFC take to process a Personal Loan?
HDFC Bank offers a Personal Loan to pre-approved customers in under 10 seconds. For others, it usually takes about 4 hours. If you are an already existing customer, you can apply for a personal loan via NetBanking on the HDFC Bank website, through an ATM, or you can drop by the nearest branch to get the process started.
✅ What is the minimum salary for an HDFC Bank Personal Loan?
The minimum salary required to be eligible for a Personal Loan from HDFC Bank is ₹ 25,000 per month.
✅ How can I check my HDFC personal loan status?
- Go to the official website of HDFC Bank.
- Click on the net banking link.
- Log in to the website using your credentials.
- Once you have logged in, locate the ‘loans’ section on the menu bar.
- Track Loan Application form through HDFC website.
Table of Contents
- 1 HDFC Bank Personal Loan
- 2 HDFC Bank Personal Loan Key Features
- 3 HDFC Bank Personal Loan Eligibility Criteria
- 4 HDFC Bank Personal Loan Charges
- 5 Documents required for HDFC Bank Personal Loan
- 6 Steps to avail HDFC Bank Personal Loan
- 7 Why should you apply for HDFC Bank Personal Loan with Dialabank?
- 8 Different types of Personal Loan offered by HDFC Bank
- 9 FAQs about HDFC Bank Personal Loan