HDFC Personal Loan

Know HDFC Personal Loan Eligibility & Interest Rate

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

**Disclaimer: HDFC is not a Bajaj Markets partner for Lending. Offers would be from partner Banks/NBFCs only.

The absence of end-user restriction allows a borrower to use the credit acquired as a personal loan to meet varying financial requirements. HDFC Bank, the largest private sector bank by assets, offers beneficial personal loan schemes to its clientele. However, before submitting an application, borrowers must have in-depth knowledge about the HDFC Personal Loan. 

HDFC Personal Loan Interest Rates

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


Up to Rs. 40 Lakhs

Fresher Funding


Up to Rs. 40 Lakhs

Wedding Loan


Rs.50,000 - 40 Lakhs

Holiday Loan


Rs.50,000 - 40 Lakhs

NRI Personal Loan


Up to Rs. 40 Lakhs

Top-Up Loan


Up to Rs. 40 Lakhs

HDFC Personal Loan on Credit Cards

Varies from customer to customer

Rs.10,000 – Rs.5 Lakhs

Disclaimer: Please check the interest rates with the lender before applying.


So, depending on the various kinds of personal loans that the bank offers, the sanctioned credit limit is generally in-between Rs. 50000 to Rs. 40 Lakhs. Accordingly, the interest rate charged can be diverse. 

Notably, HDFC also provides personal loans on credit cards. Limiting the upper and lower ceilings of credit approval at Rs. 10000 and Rs. 5 Lakhs, this scheme has a varying interest rate for one borrower to another. 

HDFC Personal Loan Processing Fees & Other Charges 

There are certain additional charges that a borrower has to bear when opting for a personal loan. Keeping a tab on this expenditure is crucial in maintaining one’s financial discipline. These charges include:


  • Loan processing charges

  • Stamp duty fees

  • Statutory charges

  • Overdue EMI interest 

  • Legal fees

  • Amortisation schedule charge

  • Fee for changing the mode of repayment

  • Payment return charges

  • Prepayment charges

  • Part-payment charges

  • Loan rebooking charges 

Notably, the total cost of processing charges is limited to Rs. 4999. Additionally, the borrower will need to pay Rs. 50 for every instance when it comes to the amortisation schedule. Moreover, if they change the repayment method, it will cost the borrowers Rs. 500. They will also be charged Rs. 450 for EMI return. 

HDFC Personal Loan Features and Benefits

There are some salient characteristics of HDFC personal loans that can be beneficial for the borrowers:


  • High loan amount: The upper limit ceiling of Rs. 40 Lakhs can come into handy for borrowers to promptly resolve their immediate financial emergencies.

  • Speedy loan disbursal: With HDFC, the applicants can expect an expedited sanctioning procedure, as the application’s processing begins within a day of form submission.

  • No collateral: Borrowers without collateral or assets often struggle to access formal credit, as traditional financing institutions often consider them high-risk borrowers. However, as an HDFC personal loan requires no security pledging, applicants can opt for this financial tool without any added hassle. 

  • Personal loan balance transfer: If a borrower finds HDFC’s lending terms comparatively more lucrative than his/her present lender, then it is possible to opt for a personal loan balance transfer to this financial institution for a nominal processing fee. 

  • Accidental cover: By paying an average premium, borrowers can receive an accident and credit shield cover policy of up to Rs. 8 Lakhs. Notably, this policy is named ‘Sarv Suraksha Pro.’

  • Additional benefits: If an applicant has an existing personal loan from HDFC, he or she is eligible for lower interest rates on a home loan from this bank.

  • 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.

HDFC Personal Loan Eligibility

An applicant must always make a note of the parameters in place regarding borrowing desired credit amount. As a request for new credit line results in a hard inquiry, rejected applications can affect the CIBIL score of the borrower detrimentally. 

Here are the HDFC Personal Loan eligibility criteria: 


  • An applicant must be an Indian citizen.

  • Salaried individuals under the age group of 21 to 60 years can avail of personal loans from HDFC.

  • Self-employed borrowers can opt for HDFC personal loans if they are in-between the age of 21 and 65 years.

  • A borrower can be an employee of a private limited company.

  • An applicant can be a jobholder in public sector undertakings.

  • Salaried borrowers must have had a job for a minimum of two years.

  • A salaried applicant needs to be at his or her current job for at least a year.

  • The minimum net income for a salaried applicant should be Rs. 25000.

  • The minimum net income for self-employed borrowers must be Rs. 12500.

Check Personal Loan Eligibility Calculator

Documents Required for HDFC Bank Personal Loan

As there is no collateral involved, a lending institution will measure the risk factors - like a chance of a borrower defaulting – based on his or her income stability. To back up their claim of repayment capacity, applicants will need to produce documents like:

  • Identity proof

  • Proof of residency

  • Passport-sized image

  • A filled-up application form

  • Bank statements of the past three months or passbook records of the last six months

  • Form 16

  • Salary slips/certificates 

However, if a KYC-compliant existing customer of the bank is applying for this loan, he or she will not need to submit any documents for the credit sanction. 

HDFC Bank Personal Loan EMI Calculator

The EMI calculator, available on a lender’s official website, can help a borrower exponentially to calculate the exact amount he or she will need to pay every month during the repayment tenure. 


The monthly instalment payable is dependent upon the borrowed principal amount, interest rate charged, and the tenure. So, a borrower is capable of customising these aspects in the calculator in order to calculate the precise monthly outgo for their desired credit amounts. 


This way, an applicant can sidestep the risk of getting financially overburdened and plan his or her financial goal in line with budgetary capabilities. Moreover, as the calculator can provide the exact EMI value within seconds, applicants do not need to spend time calculating the amount manually. 


Calculate Personal Loan EMI

Loan Amount
  • 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 to Calculate EMI for HDFC Bank Personal Loans

The EMI amount for an HDFC Personal Loan is calculated by the formula mentioned below:

Equated Monthly Instalment = [P x R x (1+R) ^N]/[(1+R)^N-1]


  • P refers to the principal amount

  • R refers to interest rate

  • N refers to the number of monthly instalments payable

So, for instance, if a borrower is receiving Rs. 40 Lakhs against a 10.5% interest rate for the repayment tenure of 5 years, he or she will need to pay Rs. 85976 per month.

However, as conducting this calculation manually can lead to human errors, it is always a helpful alternative to use the EMI calculator. 

How to Apply for HDFC Bank Personal Loan

In order to submit an application for HDFC personal loan, a borrower must adhere to certain crucial steps.


  • STEP 1: Open the official website of the HDFC Bank.

  • STEP 2: Click on ‘Apply Online’.

  • STEP 3: Navigate to ‘Product Required’ field.

  • STEP 4: Opt for ‘Personal Loan’.

  • STEP 5: Fill in the personal and financial information.

  • STEP 6: Click on ‘Get Quote’.

  • STEP 7: Provide the OTP received on the registered mobile number.

  • STEP 8: Click on ‘Submit’.

  • STEP 9: Provide necessary information regarding existing lines of credit, if any.

  • STEP 10: Choose the best-suited offer from the displayed ones.

Consequently, the applicant will need to submit the documents to HDFC bank for the verification procedure. After the paperwork is adequately done, the bank will release the funds. 

HDFC Bank Personal Loan Customer Care

HDFC provides comprehensive and 24x7 customer care assistance to ensure a streamlined personal loan borrowing procedure. So, borrowers can use chatbots or WhatsApp to get further assistance from the lender’s end. Alternatively, they can also call the customer care line of the bank for end-to-end assistance from professionals. 

FAQs on HDFC Personal Loan

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

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

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

    Yes, there is.

    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. 

  • ✔️How can I track my HDFC personal loan status?

    Check your personal loan status by visiting HDFC Bank’s official website. Simply provide your reference or proposal number with mobile number or date of birth.

  • ✔️Can I avail a personal loan from HDFC Bank on a floating interest rates?

    No. HDFC Personal Loans are charged at a fixed rate of interest. 

  • ✔️When can I make a pre-closure of my HDFC personal loan?

    You can pre-close your HDFC Personal Loan after 1 year.