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HDFC Personal Loan

HDFC Bank Personal Loan Highlights

Last Updated 14th Apr 2021

HDFC Bank personal loan rates begin from 10.50%. and vary based on the borrower's eligibility. The bank charges a processing fee of Upto 2.50% Min Rs. 1,999 on HDFC Bank personal loan. Besides, customers can avail HDFC Bank Personal loans per their needs by choosing the best HDFC Bank personal loan scheme. Some of the popular schemes that bank offers are:

  • Personal Loan Diva for Women Customers: HDFC Bank offers a pre-approved personalized personal loan scheme for its women customers for a flexible repayment tenure of 12 to 60 months. HDFC personal loan Diva also offers additional benefits such as Online Offers, Products/Vouchers and M-coupons.

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HDFC Personal Loan Details

  • HDFC Bank Personal Loan Interest Rate starts from 10.50%.
  • Lowest EMI per lakh on Personal Loan from HDFC Bank is ₹ 2,149 at the lowest interest rate of 10.50% at the longest loan tenure of 60 months.
  • Loan available for both salaried and self-employed professionals.
  • Borrowers within the age group of 21 and 60 years.
  • Loan amount of minimum ₹ 50,000 to ₹ 75 Lakh.
  • Loan Tenure 12 to 60 months.
  • Processing Fees: Upto 2.50% Min Rs. 1,999.
  • Foreclosure charges: HDFC Bank personal loan prepayment is allowed with 2 - 4%
  • Part payment charges: Allowed at 2-4%
  • Other Charges: Late EMI payment charges, EMI bounce charges, loan cancellation charges, which are disclosed by the bank at the time of signing the loan agreement.
  • Special Schemes: HDFC Bank offers customised personal loan interest rates and schemes for special category of borrowers, including borrowers working in reputed companies, banks or government employees etc. Some of the special personal loan schemes of HDFC are:
    • Personal Loan Diva for Women Customers
    • Personal Loan for Salaried Professionals
    • Personal Loan for Doctors
    • Golden Edge Personal Loan
    • Personal Loan to Pensioner
    • HDFC Insta Loan
    • HDFC Jumbo Loan
    • HDFC Pre Approved Loan

Interest rates on HDFC Bank Personal Loans Schemes

As on today, HDFC Bank Personal loan interest rates are in the range of 10.50% to 22.00%, with lowest rates offered to existing customers of the bank with a strong CIBIL Score and for those working with reputed corporate with a stable employment history. HDFC Bank also runs special schemes for defense, armed forces and government employees. Personal loan interest rate for government employee and defense personnel is different from private salaried employees.

HDFC Loan Top Up

HDFC Bank Personal Loan Eligibility depends on various factors like company you work for, income, work experience, credit score and other. The eligibility parameters for personal loan from HDFC Bank are:-

  • Occupation: Salaried professionals who are working in Government, Private, MNCs can take a personal loan from HDFC Bank.
  • Age: HDFC Bank offers personal loan to salaried professionals within an age group of 21 to 60 .
  • Minimum Income: The minimum income required to avail personal loans from HDFC Bank is ₹ 25,000
  • Minimum Work Experience: HDFC Bank checks current and total work experience to check the job stability of a borrower. The current work experience required to avail personal loans from HDFC Bank is 1 months while the total work experience required is 48 months.
  • Credit Score: Credit score is an important criteria to avail personal loan. The minimum credit score needed to become eligible for personal loans is 650.

How to get the best offer on HDFC Personal Loan?

You can get the best personal interest rates from HDFC Bank subject to an assessment of your loan amount, salary, other obligation company you work with and loan tenure. The following factors determine the personal loan rate of interest you can expect to get from HDFC:

  • Loan Amount - This is the amount borrowed by a borrower from the bank. Generally, banks offer lower interest rates for higher amounts. HDFC Bank offers loans between ₹ 50,000 and ₹ 75 Lakh.
  • Salary - Income defines your capacity to repay the loan. Higher salary bracket individuals are offered loans at lower interest rates. The interest rate of the bank varies with your net monthly income.
  • Employer Category - HDFC Bank has an internal list of companies falling into categories that are ranked from high to low company categories based on company’s size, reputation and existing relationship with the bank. Employees who belong to companies in higher company categories get attractive discounts and low interest rate loans.
  • Relationship with the Bank - HDFC Bank offers special rates, offers and charges to the existing account holders of the bank. Those who have managed their accounts and made all the payments on time in the past will get the benefit of a low HDFC Bank loan interest rate.
  • Loan Tenure - Personal loans are of shorter tenure ranges from 12 months to 60 months as they are taken to meet their immediate requirements.
  • Repayment Capacity - Before giving a loan to the borrower, HDFC Bank checks the repayment capacity of the borrower. Bank verifies the repayment capacity of the customer through CIBIL as it has the repayment track record of previous loans taken. CIBIL also captures information of credit card bills payment.
HDFC Personal Loan Charges

In addition to HDFC Bank’s personal loan interest rate, you need to compare other charges on the bank’s personal loan before taking a decision to borrow from the bank include:

  • Part Payment Charges - Part Prepayment on HDFC’s personal loans is Allowed after 12 Months at 2-4%
  • Processing Fee - HDFC charges a non-refundable processing fee of Upto 2.50% Min Rs. 1,999 of loan amount with applicable tax.
  • Other charges: Once your HDFC Bank personal loan application is accepted or sanctioned, bank will provide you a statement of other charges applicable on your loan account. Some of these charges are interest charged on late payment, EMI cheque bounce charges and loan cancellation charges, which are payable only in the event of one of these three charges.

HDFC Personal Loan Documents

For salaried employees
  • Filled up loan application form
  • 2 Passport Size Photo
  • Income Tax PAN Copy
  • Identity Proof - Driving License/ PAN/ Passport/ Voter ID/ Aadhaar Card
  • Residential Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill (upto 3 months old)
  • Income Documents - 2 years Form 16, 3 month pay slip, 3 months bank statement showing salary credit and any EMI debit

How to Apply for HDFC Personal Loan?

Getting a Personal loan from HDFC Bank is fairly quick, with an online application and approval process. You can also apply for a HDFC Bank personal loan through offline mode.

Online Application Process

The step-by-step procedure to get a personal loan online from HDFC Bank is mentioned below:

  • Visit the official website of HDFC Bank. You can also apply for a HDFC Bank personal loan through an online marketplace like MyLoanCare.in.
  • Now, fill personal, professional and financial details as required by the lender and submit the form.
  • Once you have submitted the application form, HDFC Bank will check your eligibility and provide you with information about the eligible amount you can avail.
  • If you agree to process the application, then you would be required to submit the essential documents which can also be uploaded online.
  • Finally, your documents will be processed by HDFC Bank, and on successful approval of the loan, the funds will be disbursed to your HDFC Bank account immediately.

Offline Application Process

Borrowers can also apply for HDFC Bank personal loan through offline mode by following the steps as mentioned below:

  • Visit the nearest HDFC Bank branch and fill in the application form with the loan amount required, your personal details, occupation information and your contact number.
  • The bank representative will explain about the eligibility of the loan as well as the loan rates, terms as well as processing fees, prepayment and foreclosure clauses.
  • After submitting the application form and required documents, you will be provided with an application reference number. You can use the same number to track the status of your application.
  • On successful verification, the loan can get disbursed immediately after loan sanction and signing of the agreement.
Illustration on Personal Loan HDFC
Maximum Annual Percentage Rate (APR) 11% to 22.5%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 12 Months to 60 Months
  • HDFC Bank Personal Loan Interest Rate: 10.50% to 22.00%
  • Processing Fee payable to: Upto ₹ 2,500
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 2,149 for 60 Months ₹ 1,00,000 loan at 10.50% (lowest rate, longest time period) to ₹ 9,359 for 12 Months ₹ 1,00,000 loan at 22.00% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 11% to 22.5%
  • Total cost payable over loan tenure: ₹ 8,278 for 12 Months loan to ₹ 31,463 for 60 Months loan

Personal Loan from Other Banks in India


How much time will the HDFC Bank take to take a decision on my personal loan?

Banks generally convey their decision on a loan within 15 days of submitting a loan application. However, some banks also offer instant loan offers, which can be approved within a few hours to 2-3 days. The turnaround time for a HDFC Bank instant loan can be 3 days.

Why to take personal loan from HDFC Bank ?

HDFC Bank offers loan at 10.50% rate with the lowest EMI of ₹ 2,149 per lakh. If you are paying EMI more than this, then you can opt for balance transfer and relocate your loan to HDFC Bank.

How much interest is charged by HDFC Bank on personal loan?

Personal loan interest rates in HDFC Bank are 10.50% to 22.00%. HDFC Bank personal loan interest rate for salary account holders are comparatively lower than that for other customers.

What is the lowest EMI per lakh on personal loan from HDFC Bank ?

If you apply for loan from HDFC Bank, your lowest Personal Loan EMI per lakh will be ₹ 2,149.

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

You can repay your personal loan in a flexible period of minimum 12 months to maximum 60 months.

How much personal loan amount I can borrow from HDFC Bank?

HDFC Bank offers you loan if you need a minimum amount of ₹ 50,000 to a maximum amount of ₹ 75 Lakh

How much processing fee is charged by HDFC Bank on personal loan?

HDFC Bank charges a processing fee of Upto 2.50% Min Rs. 1,999 with applicable service tax.

Is age an eligibility factor to get personal loan from HDFC Bank?

Yes, age is an important eligibility factor to get personal loan as you should be at least 21 years old at loan approval time and 60 years old at loan maturity time.

Can I add my spouse's income while applying for personal loan from HDFC Bank?

You can add the income of your spouse to increase your Personal Loan Eligibility and to get higher loan amount.

How can I get HDFC Bank personal loan?

You can get a personal loan from HDFC Bank by directly visiting the nearest branch or can apply online at their website. You can also apply online at MyLoanCare website after comparing the interest rates and charges of all banks.

How can I check my HDFC Bank personal loan status?

You can check the status of your loan online and offline. Once you have applied for a personal loan from HDFC Bank, you will be given an application number. You can use that application number and registered mobile number to check the status of your loan online at HDFC Bank's website. In case you could not track your application online, you can contact HDFC Bank loan assistance and ask them to help you out with the status. If you have applied for the loan through MyLoanCare, you can check the status of your application by logging into MyLoanCare account.

What is the importance of credit score if I wish to avail a HDFC Bank personal loan ?

It is important to have a good credit score if you wish to apply for a personal loan from HDFC Bank. A credit score above 750 is considered good for a personal loan. A low credit score increases the chances of rejection of your application.

Is there security or collateral needed to get a personal loan from HDFC Bank?

No, HDFC Bank does not require any collateral or security to lend you the personal loan as it is an unsecured loan.

Can I close my HDFC Bank personal loan after 1 year?

You can close your personal loan from HDFC Bank after 12 months by paying charges: 2 - 4%

Can I negotiate with HDFC Bank on the personal loan interest rate?

You can ask HDFC Bank to lower your interest rate on the personal loan. However, it is not sure that the lender will reduce your interest rate.

How to pay your HDFC Bank personal loan EMI?

You can pay your HDFC Bank personal loan EMI by using ECS facility or through Standing Instruction.

How to get HDFC Bank personal loan status by mobile number?

You can check the status of your HDFC Bank personal loan on their website by using your mobile number. You can also check the HDFC Bank personal loan status on mobile through their mobile app. If you have applied for a personal loan through MyLoanCare website, you can track your status by logging into MyLoanCare Account with the registered mobile number.

What is the HDFC Bank personal loan process?

The most effortless HDFC Bank personal loan procedure is to fill your details on the above form. Your application will be assessed as per details entered by you, and you will be shown the best offer available from HDFC Bank along with other banks too. Our loan advisor will contact you to understand your needs and forward your application to the bank of your choice. Although, you can also apply on the website of HDFC Bank Bank as well.

HDFC Bank Personal Loan Reviews 4.5/5  by 1397 customers
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Reviewed on 12th Mar 2021
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HDFC Bank Personal Loan News - Apr 2021
  • 2021-01-18 : HDFC Bank net profit rose by 18%
    HDFC Bank net profit grew by 18% over a year ago in the December-ended quarter on the back of improved net interest income. Advances which include home, personal, car, two-wheeler and gold loans along with business and mudra loans during the quarter rose 15.6% year-on-year to Rs 10.82 lakh crore. Deposits which includes FD and RD grew by 19% from last year to Rs 12.7 lakh crore. Further, The CASA ratio for the bank stood at 43%.
  • 2021-01-08 : HDFC Bank posted a double-digit increase in deposits and advances
    HDFC Bank reported a double-digit increase in deposits and advances in the third quarter of the fiscal year. The bank advances which include home, personal, car, two-wheeler, gold and education loan along with business and mudra loans hiked by 16% to Rs 10.82-lakh crore as on December 31, 2020. Further, the bank’s deposits rose by 19% in the third quarter of the fiscal to Rs 12.71-lakh crore. The CASA ratio is reported at around 43% as of December 31, 2020.
  • 2020-11-12 : HDFC Bank launched SmartHub Merchant Solutions 3.0
    HDFC Bank has launched a comprehensive banking and payment solution for merchants, SmartHub Merchant Solutions 3.0. The product offers the facility of instant account opening and merchant setup, applying for a loan like home, personal, car, two-wheeler, and gold loan along with business and mudra loans. In addition to this, it also offers credit cards.
  • 2020-10-12 : HDFC Bank introduced festive offers for rural India
    HDFC Bank is offering special festive offers for its rural and semi-urban markets. Customers will get special deals on all banking products from loans to bank accounts. This includes home loans, 2-wheeler loans, car loans, tractor loans, gold loans or business growth loans. Customers can avail of flat 5% to 15% off in various categories of products.
  • 2020-10-09 : HDFC Bank to give instant loans up to Rs 40 lakh for medical bills
    HDFC Bank announced a tie-up with Apollo Hospitals through which customers can opt for unsecured loans of up to Rs 40 lakh to pay for medical expenses incurred at the healthcare chain.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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