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HDFC Personal Loan

Online HDFC Bank Personal Loans

Last Updated 14th Jul 2021

HDFC Bank Personal Loan is the most popular personal loan in India given its low interest rates, quick approval, and online process. Key selling points of HDFC Personal Loan are:

  • HDFC Bank Personal Loan interest rate starts from 10.25%.
  • The processing fee charged on HDFC personal loan is Upto 2.50% Min ₹ 999.
  • HDFC also offers pre-approved personal loans at low rates for customers with strong credit history and those with an existing account with the bank.
  • The bank has an online application process where the KYC and documents submission can be done digitally.
  • You can easily check the status of your HDFC personal loan application status on a real time basis on the bank’s website or by visiting their customer care centre.
  • HDFC has special schemes for different income and occupation groups.

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HDFC Personal Loan Details

How to Get the Best Offer on HDFC Personal Loan?

There are various factors that impact your chances to get the best offers on HDFC Personal Loan, as listed follows:

  • Loan Amount - HDFC Bank offers loans between ₹ 50,000 and ₹ 75 Lakh and charges lower rates on higher loan amount and vice-versa, so apply accordingly.
  • Salary - HDFC Bank offers personal loan to all customers with a net take home monthly salary of more than ₹ 25,000. The rate of interest is higher if you fall in the low salary bucket and lower if you fall in higher income bucket.
  • Employer Category - HDFC Bank has clubbed the companies in a high to low category based on internal assessment of company’s size, reputation, profitability etc. When you apply for HDFC personal loan, the bank will decide on your interest rate based on the company category you fall in. MyLoanCare can also help you check which category of company you qualify in to help you get the best offer.
  • Relationship with the Bank - HDFC Bank offers special rates to the existing customer of the bank, who have a high likelihood of getting loans at lowest interest rate starting at 10.25%
  • Credit Score - HDFC Bank checks the CIBIL score of personal loan customers which has to be minimum of 650. Higher the CIBIL Score, higher is your chance of securing best offer.

HDFC Personal Loan Documents

You require the following documents to avail personal loan from HDFC

  • Filled up loan application form or an online form, if you are applying online
  • 2 Passport Size Photo
  • Identity Proof – One of the following: Driving License, PAN, Passport, Voter ID, Aadhaar Card
  • Residential Address Proof – One of the following: Registered Rent Agreement, Passport, Leave and License, Utility Bill of last three months
  • Income Documents – Copy of Form 16 of last 2 years, 3 month pay slip, 3 months bank statement showing salary credit and any EMI debit

Types of HDFC Personal Loan Schemes

HDFC Bank offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

Personal Loan Diva for Women Customers
  • HDFC Bank offers a special personal loan scheme to women borrowers known as Personal Loan for Diva to fulfil their personal needs. Under this scheme, women can avail of the loan as a pre-approved personal loan upto Rs. 3 Lakhs. Along with that, you can also avail online Offers, Products/Vouchers and M-coupons. These special coupons can be redeemed both online and offline.
Personal Loan for Salaried Professionals
  • You can avail of an HDFC Bank loan for salaried professionals if you are a salaried professional, including doctors, physiotherapists, architects, chartered accountants, and company secretaries and fulfil other eligibility criteria such as age, income & CIBIL Score. You must be between 21 and 60 years of age, with a minimum experience of 2 years and earn a minimum of Rs. 25000 per month.
Personal Loan for Doctors
  • HDFC Bank offers specialized personal loans for non-salaried doctors. To avail of the loan, doctors should have a minimum of four years of work experience after qualification. Other eligibility criteria include a minimum annual income of Rs 1 lakhs per annum with profitability for the last two years.
Golden Edge Personal Loan
  • HDFC Bank golden edge personal loan is a specialized personal loan for elite customers whose income is above Rs 75 K per month. Under this scheme, you can avail of loan amount ranging from Rs. 10 Lakhs to Rs. 30 Lakhs.
Personal Loan to Pensioner
  • Get maximum loan upto ₹ 500,000
  • Loan is available for a maximum period of 36 months
  • Pensioner can upto 50 percent of additional income to get loan
HDFC Insta Loan
  • HDFC Bank Insta Loan is a pre-approved loan against the credit card limit of your HDFC Bank Credit Card. It is a pre-approved loan, and thus, you can avail of these loans with minimal paperwork and formalities. To check your eligibility for HDFC Bank Insta Loan, you can log in to your net banking account or contact HDFC Bank customer care.
HDFC Jumbo Loan
  • HDFC Bank Insta jumbo loan allows borrowers to borrow a loan without blocking the credit card limit.
  • The loan can be repaid between 12 to 60 months.
HDFC Pre Approved Loan
  • If you are an HDFC Bank customer, you can log in to your NetBanking account and check your eligibility for a pre-approved offer. The benefits of a Pre-approved HDFC Bank Personal loan includes nil or minimal paperwork, attractive interest rates, online sanction and more.
  • HDFC Bank Top Up Loan is an additional loan you can avail of if you are an existing HDFC Bank customer. You can avail of the Top-up Loan upto Rs. 50 Lakhs

How to Apply for HDFC Personal Loan?

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

  • Visit the official website of HDFC Or contact your nearest HDFC Bank branch.
  • 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.

You can also apply for HDFC Bank personal loans by visiting their branch or by calling their customer care centre.Offline mode are 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 HDFC 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 HDFC Bank Personal Loan 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) 10.75% 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: 10.25% to 22.00%
  • Processing Fee payable to: Upto ₹ 2,500
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 2,137 for 60 Months ₹ 1,00,000 loan at 10.25% (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: 10.75% to 22.5%
  • Total cost payable over loan tenure: ₹ 1,08,139 for 12 Months loan to ₹ 1,30,722 for 60 Months loan

Personal Loan from Other Banks in India

FAQs

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 should I take a personal loan from HDFC Bank ?

Below-mentioned is the reason why you must avail a personal loan from HDFC Bank.

  • Online instant approval over secure SSL API
  • Special offers for top corporates
  • Options to part prepay after 12 EMIs
  • Higher loan amount eligibility
  • Widest range of branches in India
  • Low rate for government employees

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

Personal loan interest rates in HDFC Bank are 10.25% 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 ₹ 2,137 which corresponds to lowest interest rate of 10.25% and longest tenure of 60 years.

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

HDFC Bank personal loan has a minimum tenure of12 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

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

Yes, you can add the income of your spouse to increase your Personal Loan Eligibility andto get a higher loan amount from HDFC . In this case, the bank will check the CIBIL score of your spouse and ask for all income and bank statements of your spouse for the purpose of processing your application

How can I get HDFC Bank personal loan?

You can get a personal loan from HDFC Bankby directly visiting the nearest branch or can apply online at their website. While these two are the traditional methods of applying, you can easily apply for the loan at MyLoanCare website where you can do a thorough comparison of all loan details, rates and charges before deciding to proceed with HDFC’s application process.

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 are unable to track your application online, you can get HDFC Bank loan assistance at HDFC Bank loan customer care centre 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?

Yes, as a customer, you should negotiate for a rate discount when you apply. You may end up getting a better rate from the bank if you have applied for a high loan amount and are in a high income range working with a reputed company.

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.HDFC Bank also provides you the facility to pay your Personal Loan EMI online using net banking and mobile banking.


HDFC Bank Personal Loan Reviews 4.5/5  by 1487 customers
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Shivam, Delhi
Reviewed on 14th Jul 2021
5 / 5 stars
HDFC Bank Personal Loan Availed in Jul 2021

Experience with HDFC Bank is awesome. When I need some amount urgently, I got positive things from tRead more...

Gajula, Guntur
Reviewed on 14th Jul 2021
5 / 5 stars
HDFC Bank Personal Loan Availed in Jul 2021

My experience with MyLoanCare is good. Thumbs up for the service.Read more...

DEEPA, Bangalore
Reviewed on 14th Jul 2021
5 / 5 stars
HDFC Bank Personal Loan Availed in Jul 2021

All formalities were done online and staff was very good and cooperative. I got my amount very fast.Read more...

Ravikumar, Bangalore
Reviewed on 13th Jul 2021
4 / 5 stars
HDFC Bank Personal Loan Availed in Jul 2021

Team was very helpful till the disbursement of the loan.Read more...

Vikram, Hyderabad
Reviewed on 13th Jul 2021
5 / 5 stars
HDFC Bank Personal Loan Availed in Jul 2021

This was very good. They gave me a lot of info and options which I liked.Read more...

Venkatesh, Tiruvallur
Reviewed on 13th Jul 2021
5 / 5 stars
HDFC Bank Personal Loan Availed in Jul 2021

I got the personal loan from HDFC Bank through MyLoanCare. Mr Vinith from MyLoanCare helped a lot toRead more...

Harsh, Kanpur
Reviewed on 12th Jul 2021
4.5 / 5 stars
HDFC Bank Personal Loan Availed in Jul 2021

Pinky Goel from MyLoanCare helped me secured my personal loan from HDFC Bank at a very attractive raRead more...

Satheeswaran, Chennai
Reviewed on 12th Jul 2021
5 / 5 stars
HDFC Bank Personal Loan Availed in Jul 2021

Quick response and excellent support. Resolved all my queries.Read more...

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HDFC Bank Personal Loan News - Jul 2021
  • 2021-07-08 : HDFC Bank loan growth hit amidst covid-19 pandemic
    Private lender HDFC Bank numbers for the June quarter showed loan growth moderation and contraction in its retail credit book. The bank slowed its retail disbursements which were down 30% sequentially, reflecting the impact of the second Covid wave. The continued weakness in the retail segment led to retail segment share in total loans that include Personal Loan, Home Loan, Loan Against Property, Business Loan, Gold Loan, Two-wheeler Loan, Car Loan, Education Loan and Top-up Loan slipping down to 45% from 47% in June quarter last year.
  • 2021-05-28 : HDFC Bank commits Rs 100 cr towards COVID relief in FY22
    HDFC Bank committed Rs 100 crore for setting up medical infrastructure for COVID-19 relief in 2021-22. The bank is planning to set up 20 oxygen plants in hospitals besides three 100-bed COVID care facilities as part of the plan.
  • 2021-04-19 : HDFC Bank Q4 net profit rises 18% YoY to Rs 8,186.5 crore
    In Q3FY21, HDFC Bank had reported a net profit of Rs 8,758.3 crore and an operating profit of Rs 15,186 crore. The bank advances which include home, LAP, personal, two-wheeler, car, gold, education and doctor loan along with business and mudra loans aggregated to Rs 11,320 billion. Further, The bank’s deposits which include fixed and recurring deposits grew 16.3% at approximately Rs 13,350 billion as of March 31, 2021, as compared to Rs 11,475 billion year-on-year (YoY).
  • 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.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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