Check HDFC Personal Loan

HDFC Personal Loan

Know HDFC Personal Loan Eligibility & Interest Rate

✓Minimal Documentation ✓Collateral Free Loans ✓Instant Loan Disbursal | Apply for Personal Loan Now!

HDFC Personal Loan application needs minimum documentation and is approved quickly, making it easier for you to secure funds. The HDFC Personal Loan amount can help you pay debts, medical bills, plan a wedding, or renovate your home. HDFC Personal Loan interest rates range between 10.25% - 22.00%. You can get loan amounts of up to Rs. 50 Lakhs with tenures ranging between 12 and 60 months. HDFC Bank Personal Loans are also offered instantly to pre-approved customers of HDFC Bank. The bank claims to disburse the loan amount within a day to their pre-approved customers.

HDFC Personal Loan Features & Benefits

Following are the features and benefits of the HDFC Bank Personal Loan.

  • High Loan Amount: Both salaried professionals and self-employed professionals who are eligible can get loans of up to Rs. 50 Lakhs easily.

  • Speedy Loan Disbursal: Personal loan disbursal within a day of application.

  • No Collateral: No collateral or security is necessary to take an HDFC Bank Personal Loan.

  • Accidental Cover: Option to choose ‘Sarv Suraksha Pro’ policy, which provides a credit shield cover, an accidental hospitalisation cover, and a permanent disability/accidental death cover of up to Rs. 8 Lakhs. You have to pay an average premium to receive this benefit.

  • 24*7 Assistance: You can use the chatbot, WhatsApp facility or call the customer care number for any queries related to your HDFC Personal Loan.

  • Personal Loan Balance Transfer: You can transfer your Personal Loan from another lender to HDFC Bank with a minimum personal loan processing fee of up to 2.5%.

  • Additional Benefits: You will get attractive offers with low charges for home loans if you already have an HDFC Bank Personal Loan.

HDFC Personal Loan Eligibility Criteria

Here are the HDFC Bank Personal Loan eligibility criteria for both salaried and self-employed professionals.

1. Must be an Indian citizen.

2. Age limit

  • For salaried employees - 21 years to 60 years

  • For self-employed professionals - 21 years to 65 years

3. Income should be a minimum of

  • Rs. 25000 for salaried employees

  • Rs. 12,500 for self-employed professionals

4. It is mandatory for salaried employees to have a minimum of 2 years of work experience and be working with the current employer for at least one year.

HDFC Personal Loan EMI Calculator

There are a number of Personal Loan Calculators available online. You can use Finserv MARKETS Personal Loan EMI Calculator to check your monthly repayment amount. Follow the steps to calculate your EMI easily.

  • Enter your HDFC Personal Loan details, including preferred loan amount, tenure, and HDFC Bank Personal Loan interest rate.

  • Click on “Calculate” to check your EMI.

  • Your monthly EMI will be displayed on the screen.

Calculate Personal Loan EMI

Loan Amount
Tenure
  • Months
  • Years
Rate of Interest
%

Your monthly EMI is

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest
Year Principal Interest Balance

 How is HDFC Personal Loan EMI Calculated

You can calculate the Equated Monthly Instalments (EMIs) of an HDFC personal loan with the help of the following formula:

HDFC Personal Loan EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

where,

EMI is Equated Monthly Instalment,

P is the principal amount,

R is the monthly rate of interest, and

N will be the HDFC Bank Personal Loan repayment tenure (in months).

The above Personal Loan EMI formula should help you arrive at a near-to-accurate estimate of your HDFC Bank Personal Loan EMI amount.

HDFC Personal Loan Interest Rate

HDFC Bank Personal Loan interest rate is one of the critical factors considered while taking an HDFC Bank Personal Loan. To avail of a lower interest rate, the preferred loan amount, salary, and employment category are considered. A higher loan amount, higher pay, and the organisation or employer you work with enhance your chance of getting a lower interest rate. Relationship with the HDFC bank also influences the Personal Loan interest rate.

HDFC Bank Personal Loan

Interest Rate per annum (starting rate)

Loan Amount

Home Renovation Loan

10.50%

Up to Rs. 40 Lakhs

Fresher Funding

10.50%

Up to Rs. 40 Lakhs

Wedding Loan

10.50%

Rs.50,000 - 40 Lakhs

Holiday Loan

10.50%

Rs.50,000 - 40 Lakhs

NRI Personal Loan

10.75%

Up to Rs. 40 Lakhs

Top-Up Loan

10.40%

Up to Rs. 40 Lakhs

HDFC Personal Loan on Credit Cards

Varies from customer to customer

Rs.10,000 – Rs.5 Lakhs

How to Apply for HDFC Personal Loan?

You can easily get an HDFC online Personal Loan. For HDFC Personal Loan follow the steps mentioned below:

  1. Visit the official website of HDFC Bank - hdfcbank.com

  2. Click on ‘Apply Online’ to fill in the personal loan application form.

  3. From the ‘Product Required field’, select the Personal Loan.

  4. Fill in name, income, address, and contact details.

  5. Click on ‘Get Quote’.

  6. Enter the OTP received on your mobile number.

  7. Click on ‘Submit’.

  8. Fill in information about existing loans, need for the loan, current EMI’s, etc.

  9. You will be redirected to the offers page, displaying offers as per your eligibility.

  10. Choose a loan type that suits you and continue with the documentation process.

Documents Required for HDFC Bank Personal Loan

  • Identity and address proofs like Aadhaar Card, Passport, Voter ID Card or Driving Licence

  • Duly filled application form along with passport-sized photographs

  • Bank statement of last 3 months

  • Two latest salary slips/current dated salary certificate

  • Latest Form 16

FAQs on HDFC Personal Loan

  • ✔️What is the maximum Personal Loan amount that can be sanctioned by HDFC Bank?

    Generally, the maximum Personal Loan amount that HDFC Bank can sanction is Rs. 50 lakh.

  • ✔️Is there an age limit to apply for HDFC Bank Personal Loan?

    Yes, there is. The age limit

    • For salaried employees - 21 years to 60 years

    • For self-employed professionals - 21 years to 65 years

  • ✔️How much time is taken for the HDFC Personal Loan to be approved?

    Normally, HDFC Personal Loan is approved within 15 days of submitting a loan application. In case of instant loan offers, the loan requests will be approved within a few hours to 2-3 days.

  • ✔️How can I calculate HDFC Personal Loan EMI?

    You can use the HDFC Bank Personal Loan EMI Calculator to calculate the EMI you have to pay monthly.

  • ✔️How can I get in touch with HDFC customer care?

    You can use the chatbot, WhatsApp facility or call the customer care number  1860 267 6161 (which is accessible across India) for any queries related to your HDFC Personal Loan.