HDFC Personal Loan Interest Rate Calculator - Jan 2017

HDFC Bank Personal Loan Interest Rates

Last Updated 29th Nov 2016
Salaried Self Employed
Interest Rate 11.29% - 20.00% 16.25% - 19.75%
Lowest EMI Rs. 2,189 per lakh Rs. 3,528 per lakh
Loan Tenure From 12 months to 60 months From 12 months to 36 months
Loan Amount Min Rs. 50,000 and Max Rs. 2,500,000 Min Rs. 500,000 and Max Rs. 1,500,000
Processing Fee 0.25% to 1.50% 2.5% Min Rs. 1,000 Max Rs. 75000
Age Min 21 years and Max 60 years Min 21 years and Max 65 years
Prepayment Charges Not allowed Not allowed
Foreclosure Charges Allowed after 12 EMI's, Prepayment charges vary by year: 2nd year - 4%; 3rd year - 3%, after 3 years - 2% Allowed after 6 EMI's, Prepayment charges vary by year: 2nd year - 4%; 3rd year - 3%, after 3 years - 2%
Apply Personal Loan Online @11.29%*
 Salaried   Self Employed - Professional   Self Employed - Business 





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HDFC Bank Personal Loan

HDFC Bank gives the facility of personal loan to the people who want money to achieve their urgent requirements. There are some features and benefits of taking personal loan from HDFC Bank:
  • Special offers for corporate employees
  • Special offers for women employees
  • Easy documentation with complete transparency
    • HDFC Bank has been rated 4.2/5.0 by customers for its service quality on MyLoanCare
    • HDFC Bank has over 4,972 branches in India where you can avail service
    • HDFC Bank offers special schemes and discounts for employees of large companies.
    Personal Loan interest rates in HDFC Bank depends upon
    • Loan amount: Personal loan rate in HDFC Bank depends upon the amount you apply for. Higher the loan amount, lesser will be the interest rate
    • Company where you work: HDFC Bank has a list of companies to which they lend personal loan. Interest rate will be less if your company is listed
    • Your Salary: Income helps you in determining your rate of interest. HDFC Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest
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    HDFC Personal Loan Eligibility

    Eligibility of personal loan in SBI relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
    • Age: Age plays an important role to know your eligibility and repayment capacity. HDFC offers personal loan to salaried individuals who are atleast 21 years old at the time of loan approval and maximum 60 years at the time of loan maturity. Self employed individuals with age of atleast 21 years and maximum 65 years at the time of loan maturity can apply for personal loan from HDFC Bank
    • Income: HDFC Bank Loan eligibility significantly depends upon your income. Usually bank set minimum levels of income to apply for personal loan. HDFC Bank asks for net monthly income of minimum Rs. 15,000.
    • Job stability and Profession: Job stability is important to improve your status and eligibility for personal loan from HDFC Bank. In case you are salaried, you must be in a full time job for at least 12 months of which not less 1 months must be with your current company. In case you are self-employed, you must be in current profession or business for at least 5 years and should preferably own either your office or your place of residence. Minimum turnover and minimum net income criteria may apply. Other than job stability, profession is also an important factor which can affect your HDFC Bank eligibility. If you are working with a reputed company, probability of getting personal loan from HDFC Bank increases as the income is considered to be more stable and bank offers low interest personal loan to the employees of reputed companies
    • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your personal loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your personal loan eligibility.
    • Loan Amount: HDFC Bank gives you personal loan depending upon your income. HDFC Bank gives you an amount ranging from Rs. 50,000 to Rs. 2,500,000. To improve chances of approval, apply for a loan amount that you can comfortably service.

    HDFC Personal Loan EMI

    Personal Loan EMI of HDFC Bank is a fixed amount that you pay each month towards the repayment of your personal loan till the end of tenure. Lowest EMI offered by HDFC Bank is Rs. 2,189 per lakh loan amount at lowest personal loan interest rate of 11.29%. Personal Loan EMI of HDFC Bank depends on factors like:
    • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
    • Loan tenure matters equally as longer tenure reduces your monthly EMI per lakh
    • Your EMI depends upon the amount of loan you are going to borrow. Loan EMI will be high if you apply for a high loan amount

    Documents Required for HDFC Personal Loan

    Personal loan HDFC Bank documents for Salaried employees

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

    Personal loan HDFC Bank documents for Self-Employed

    • Filled up loan application form
    • 2 Passport Size Photo
    • Copy of Income Tax PAN
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months bank statement
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof

    Fee and Charges on Personal Loan HDFC

    Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. HDFC Bank allows prepayment of personal loan after paying 12 EMI’s with Prepayment charges vary by year: 2nd year - 4%; 3rd year - 3%, after 3 years - 2%
    Processing Fee- HDFC Bank asks for a processing fee of 0.25% to 1.50% of loan amount with applicable service tax

    HDFC Personal Loan Top up, Transfer

    • HDFC Bank offers personal loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of HDFC Bank
    • You can avail additional top-up personal loan from HDFC Bank, subject to your eligibility
    Illustration on Personal Loan HDFC Bank
    Maximum Annual Percentage Rate (APR) 11.69% to 20.4%
    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: Rs. 100,000
    • Time period: 12 months to 60 months
    • HDFC Bank Personal Loan Interest Rate: 11.29% to 20.00%
    • Processing Fee payable to HDFC Bank: Upto Rs. 2,000. Current offer for processing fee is 0.25% to 1.50%
    • Fee payable to MyLoanCare: NIL
    • Total Monthly Cost – From Rs. 2,189 for a 60 months Rs. 100,000 loan at 11.29% (lowest rate, longest time period) to Rs. 9,263 for a 12 months Rs. 100,000 loan at 20.00% (highest rate, shortest time period). This is inclusive of principal repayment.
    • Annual Percentage Rate (APR) of charge including all applicable fees: 11.69% to 20.4%
    • Total cost payable over loan tenure: Rs. 13,161 for 12 months loan to Rs. 33,324 for 60 months loan
    HDFC Bank’s terms and conditions as per loan agreement applicable. Short term loans/ pay day loans not available; minimum loan tenure - 12 months. Rate of interest depends upon company categorization, income, job stability, loan amount, CIBIL score, credit profile, existing obligations, verification and other factors. Credit at sole discretion of HDFC Bank.

    Compare Personal Loan Interest Rates of HDFC with other banks

    Frequently Asked Questions on HDFC Personal Loan

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

    HDFC Bank offers an interest of 11.29% to 20.00% on personal loan.

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

    If you apply for a personal loan from HDFC Bank, your lowest EMI per lakh will be Rs. 2,189.

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

    You can repay your personal loan from HDFC Bank 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 personal loan if you need a minimum amount of Rs. 50,000 to a maximum amount of Rs. 2,500,000.

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

    HDFC Bank charge a processing fee of 0.25% to 1.50% 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 HDFC Bank personal loan as you should be at least 21 years old at loan approval time and 60 years old at loan maturity time.

    Are there any prepayment charges on HDFC Bank personal loan?

    You can take personal loan from HDFC Bank with Prepayment charges vary by year: 2nd year - 4%; 3rd year - 3%, after 3 years - 2%.

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

    You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.
HDFC Personal Loan News - Jan 2017
13th Jan 17 HDFC Bank reduces personal loan interest rates to 11.29 percent
HDFC Bank has reduced its personal loan interest rates by 20 basis points. The revised personal loan interest now stands at 11.29 percent as compared to 11.49 percent earlier.
05th Jan 17 HDFC Bank reduces personal loan balance transfer rates to 11.29 percent
HDFC Bank has announced reduction in personal loan balance transfer rates for special corporate. The rates are now revised to 11.29 percent as compared to 11.69 and 11.99 percent earlier. The new balance transfer rates are valid for all logins till 31st January, 2017.
23rd May 16 HDFC Bank plans to open 500 new branches this fiscal
HDFC Bank plans to open about 500 new branches this financial year as part of its steps to expand footprint. About 60% of new branches would be coming up in semi-urban and rural areas and the remaining in urban areas. Last fiscal, the bank opened 506 branches leading the tally to 4,520 at the end of March 2016. Of 506 branches, 256 branches were opened in semi-urban and rural areas. The branches will provide facilities like loans, deposits and savings.
02nd Feb 16 HDFC Bank ATM network to sell loans to non-customers too
HDFC Bank is now using its ATM network to acquire customers of other banks who use its ATMs
01st Feb 16 HDFC Bank to offer personal loans, credit cards at ATMs
HDFC Bank will extend small instant loans to its customers at ATMs based on their transaction details, salary credits, balances, credit and debit card repayments.
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