Ensuring quick approval and disbursal, HDFC Bank Personal Loan is an ideal option to deal with financial crises. At HDFC Bank, you can avail a personal loan amount of upto Rs. 40 lakh and can pay medical bills, renovate your home, go on a vacation, get married, etc. The eligible loan amount offered to you can be repaid as per your convenience and the tenure goes upto 60 months.
HDFC Bank Personal Loan Eligibility Criteria
- You should be a salaried doctor, CA, employee of private limited companies, employee from public sector undertakings including central, state and local bodies
- You should be at least 21 years and your maximum age should be 60 years
- You should have at least 2 years of minimum work experience and you should be working with your current employer for at least a year
- Your minimum monthly income should be Rs. 15,000 and if you are living in Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Pune, Ahmedabad, Kolkata and Cochin then it should be Rs. 20,000
HDFC Bank Personal Loan Eligibility Calculator
Personal Loan Eligibility calculator available at Paisabazaar.com helps an individual to figure out if he is eligible for HDFC Bank Personal Loan. The personal loan eligibility calculator is easy to use and asks for the basic information like occupation type, loan amount, monthly income, mobile number, current city, etc. to check your eligibility with the bank.
How to Improve Your HDFC Bank Personal Loan Eligibility?
- A healthy credit score: Reflection of your past repayments and financial behavior, a credit score influences your eligibility the most. If your credit score is 750 or above, you have more chances of being eligible for a personal loan. If you have a low credit score, you either will not be eligible or might get a loan with very high interest rate
- Choose the loan amount wisely: You must apply for a personal loan amount after evaluating your repayment capacity as the banks check your repayment ability based on your monthly income. Therefore, apply for a loan amount that you can easily repay within the tenure without hampering your monthly expenses
- Don’t apply with various banks at a time: If you believe that applying with various lenders at a time increases your chances of getting a loan, you are wrong. Every time you apply for loan, it gets registered to your credit report as a hard inquiry and is also visible to lenders. When you apply with various lenders at a time, you seem to be credit hungry and hence are not considered for a loan
- Apply with your spouse: If your spouse is also earning and has a better or an equally good credit score then apply for a personal loan jointly with your spouse to increase your eligibility
Frequently Asked Questions
What is the interest rate and processing fee of HDFC Bank?
The interest rate is 11.25% and the processing fee is up to 2.50% of the loan amount subject to a minimum of Rs. 2,999 and maximum of Rs. 25000 for Salaried Customers.
Where can I find the nearest branch of HDFC Bank?
You can find the nearest branch of HDFC Bank here.
What should be my credit score to be eligible for HDFC Bank personal loan?
Your credit score should be at least 750 to be eligible for HDFC Bank personal loan.
How long will it take to get my personal loan disbursed?
Once your personal loan application is approved, the loan amount gets disbursed to your account within 3 to 5 working days.
What is the minimum salary requirement to avail HDFC Bank personal loan?
Your minimum salary to avail HDFC Bank personal loan should be Rs. 15,000.