Apply for Personal Loan Starting From 10.25%*HDFC Bank Personal Loan Highlights – Jan 2022
| Interest rate | 10.25% p.a. onwards |
| Loan Amount | Up to Rs 40 lakh |
| Tenure | Up to 5 years |
| Processing Fees | Up to 2.5% of loan subject to a maximum of Rs 25,000 for salaried customers |
Table of Contents
HDFC Bank Personal Loan Interest Rate
HDFC Bank personal loan interest rates start from 10.25% p.a. onwards. The final interest rates offered to the loan applicant would vary according to the credit score, monthly income, job profile, employer’s profile, etc. of the loan applicant.
Comparison between HDFC Bank and other Banks/NBFCs
| Banks/NBFCs | Interest Rates (per annum) |
| HDFC Bank | 10.25% – 21.00% |
| SBI | 9.60% – 13.85% |
| PNB | 7.90% – 14.50% |
| ICICI Bank | 10.50% – 19.00% |
| Axis Bank | 10.25% p.a. onwards |
| Kotak Mahindra Bank | 10.25% onwards |
| IndusInd Bank | 11.00% onwards |
| IDFC First Bank | 10.49% – 23.00% |
| Bajaj Finserv | 13.00% onwards |
| Tata Capital | 10.99% onwards |
Click here to compare personal loan rates of all major Banks/NBFCs
HDFC Bank Personal Loan Fees and Charges
| Fees | Charges |
| Processing Charges | Up to 2.5% of loan subject to a maximum of Rs 25,000 for salaried customers |
| Stamp Duty and other statutory charges | As per the laws of the state |
| Overdue EMI Interest | 2% per month on EMI/principal overdue |
| Legal/Incidental Charges | At actuals |
| Amortization Schedule Charges | Rs 200 |
| Cheque Swapping Charges | Rs 500 |
| Cheque Bounce Charges | 1st return at Rs 450 + taxes 2nd in a month Rs 500 + taxes 3rd onwards Rs 550 + taxes
10% discount for senior citizens
Rs 550 per cheque bounce |
| Loan Cancellation Charges Rebooking Charges | NIL Rs 1000 |
| Pre-payment in Part Full | NIL until repayment of 12 EMIs (salaried)
Up to 2% of principal outstanding |
| Pre-payment Charges on Principal Outstanding/Part Payment Charges | Salaried: 13-24 months- 4% of outstanding principal
25-36 months- 3% of outstanding principal
>36 months2% of outstanding principal |
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Types of HDFC Bank Personal Loan
Covid Personal Loan
- Purpose: For Covid treatment and related expenses
- Loan Amount: Up to Rs 5 lakh
- Tenure: Up to 5 years
Marriage Loan
- Purpose: To meet the personal expenses of wedding
- Loan Amount: Rs 50,000- Rs 40 lakh
- Tenure: 1- 5 years
- Processing Fees: Up to 2.50% of the loan amount subject to a minimum of Rs 1,999 and maximum of Rs 25,000 for salaried customers
Travel Loan
- Purpose: To meet the travel expenses of the borrower
- Loan Amount: Up to Rs 40 lakh
- Tenure: Up to 5 years
- Processing Fees: Up to 2.50% of the loan amount subject to a minimum of Rs 1,999 and maximum of Rs 25,000 for salaried customers
Emergency Loan
- Purpose: To meet any emergency expenses such as medical expenses, education expenses, wedding or any unforeseen financial emergency
- Loan Amount: Rs 50,000- Rs 40 lakh
- Tenure: Up to 5 years
- Processing Fees: Up to 2.50% of the loan amount subject to a minimum of Rs 1,999 and maximum of Rs 25,000 for salaried customers
Debt Consolidation Loan
- Purpose: For making repayments towards various dues
- Loan Amount: Up to Rs 40 lakh
- Tenure: Up to 5 years
- Processing Fees: Up to 2.50% of the loan amount subject to a minimum of Rs 1,999 and maximum of Rs 25,000 for salaried customers
Personal Loan for Home Renovation
- Purpose: To meet the expenses related to kitchen remodeling, replacement of old furniture, sprucing, change in electrical wiring, installation of new fixtures and fittings, and other home renovations
- Loan Amount: Up to Rs 40 lakh
- Tenure: Up to 5 years
- Processing Fees: Up to 2.50% of the loan amount subject to a minimum of Rs 1,999 and maximum of Rs 25,000 for salaried customers
Personal Loan for Students
- Purpose: For students to pursue higher studies
- Loan Amount: Up to Rs 40 lakh
- Tenure: Up to 5 years
- Processing Fees: Up to 2.50% of the loan amount subject to a minimum of Rs 1,999 and maximum of Rs 25,000 for salaried customers
Personal Loan for Teachers
- Purpose: For teachers at private or government schools and colleges to meet any added overheads
- Loan Amount: Up to Rs 40 lakh
- Processing Fees: Up to 2.50% of the loan amount subject to a minimum of Rs 1,999 and maximum of Rs 25,000 for salaried customers
Personal Loan for Women
- Purpose: To meet the financial needs of women such as travel, education, wedding or any other emergency expenses
- Tenure: Up to 5 years
- Loan Amount: Rs 50,000- Rs 40 lakh
- Processing Fees: Up to 2.50% of the loan amount subject to a minimum of Rs 1,999 and maximum of Rs 25,000 for salaried customers
Personal Loan for Salaried
- Purpose: To meet any financial emergency for salaried applicants
- Tenure: Up to 5 years
- Loan Amount: Rs 50,000- Rs 40 lakh
- Processing Fees: Up to 2.50% of the loan amount subject to a minimum of Rs 1,999 and maximum of Rs 25,000 for salaried customers
Also Know: Which bank is best for personal loan for salaried employees?
Personal Loan for Government Employees
- Purpose: To cater the financial needs of government employees in case of wedding, medical emergency, travel expenses, etc.
- Loan Amount: Up to Rs 40 lakh
- Tenure: Up to 6 years
- Processing Fees: Up to 2.50% of the loan amount subject to a minimum of Rs 1,999 and maximum of Rs 25,000 for salaried customers
Balance Transfer
- Purpose: For existing personal loan borrowers of NBFCs and other banks to avail lower interest rates at HDFC Bank
- Processing Fee: Starting at Rs 3,999 + GST
Know more about: HDFC Bank personal loan balance transfer
Eligibility Criteria for HDFC Bank Personal Loan
- Private sector employees, public sector employees, and employees of central, state and local bodies
- Age: 21-60 years
- Applicants with at least 2 years of work experience, and 1 year with the current employer
- Minimum net monthly income: Rs 25,000
Documents Required for HDFC Bank Personal Loan
- ID Proof (Aadhaar card/driving license/voter ID/passport)
- Address Proof (Aadhaar card/driving license/voter ID/passport)
- Bank statement for past 3 months (updated passbook for last 6 months)
- Latest salary slips/latest salary certificate with Form 16
Read More About: HDFC Personal Loan Documents
Apply for a Personal Loan online with minimal documentation Apply Now
Why Apply for a Personal Loan at Paisabazaar.com?
- Offers from Top Lenders: Paisabazaar has partnered with 30+ Banks/NBFCs/Fintechs to provide the best available loan offers from multiple lenders at one place.
- Compare & Choose: On Paisabazaar, you can check and compare personal loan offers from India’s largest banks, NBFCs and Fintechs, on your screen with a click of a few buttons.
- Personalized solutions & certainty of approval: On Paisabazaar, personal loan offers will be rank-ordered according to your credit score and other eligibility factors. This will help you choose the most-suited offer and provide you with the certainty of loan approval.
- Pre-Approved Loans: Once a part of the Paisabazaar ecosystem, you get personalised pre-approved personal loan offers based on your credit health from time to time. These loans come with low processing fees, low-interest rates and almost no documentation.
- Unbiased Advice: In case you have any queries or need assistance, Paisabazaar’s team of experts will guide you on every step, coordinate with lender Banks/NBFCs and help you get the most-suited personal loan.
- Complete Digital Process: As a digital-only organization, Paisabazaar.com offers you completely digital processes that help you avail personal loans from the comfort of your homes with zero to minimum paperwork and a completely digital experience.
- Document Pickup: Where physical documentation is needed, Paisabazaar representatives will pick documents from your home/office on a mutually agreed date and time once you apply for the loan. With this, you are not required to physically visit the lender to submit your documents as Paisabazaar will do the needful for you – At zero cost.
- End-to-end Assistance: Right from looking out for a loan option to getting the sanctioned loan amount in your bank account, Team Paisabazaar remains with you and works in the background with the lenders, to give you a wonderful experience.
HDFC Bank Customer Care
- You can call on HDFC Bank customer care number 6160-6161 (affix STD code of your city) for Ahmedabad / Bangalore / Chennai / Delhi & NCR / Hyderabad / Kolkata / Mumbai / Pune.
- To know the HDFC Personal Loan customer care number in your city, click here
FAQs
Q. How does having a Salary Account with HDFC help in availing Personal Loan?
Ans. If you have a prior relationship with HDFC Bank such as a salary account, you may be eligible for a preferential (lower) rate of interest and reduced processing fee when you apply for an HDFC personal loan.
Q. Is foreclosure of Personal Loan allowed?
Ans. Yes, you can choose to foreclose the loan any time after 12 months of taking the loan. In case of a foreclosure, charges of up to 4% of the principal amount outstanding are applicable.
Q. What are the charges one has to pay to change the mode of repayment/account for a Personal Loan?
Ans. For changing the mode of repayment/account for Personal Loan, a cheque, pay order or Demand Draft of Rs. 500 + GST favouring “HDFC Bank Ltd Loan Account No.” will be required along with the revised set of repayment instructions.
Q. Is it possible to make part-prepayment on HDFC Bank Personal Loan?
Ans. Yes, if you have booked a loan on or after April 1, 2018, you can pay off your HDFC Bank personal loan in parts after completion of the 12th EMI. Some of the key terms and conditions regarding this are as follows:
- Part-payment is only allowed twice during the loan tenure
- Part-payment is allowed once in a single financial year
- Each of the part payments should not exceed 25% of the principal outstanding
Q. How do I get the address changed in my loan account?
If you wish to change your address in the bank’s records, you can visit the nearest retail loan service centre and submit the necessary documents.
- Request form for address change
- Self-Attested copy of your revised address proof (Aadhaar, Driver’s License, Voter ID, etc.) for validation
Q. I am a self-employed individual. Can I apply for a personal loan at HDFC Bank?
No, HDFC Bank currently offers personal loans to only salaried individuals meeting the eligibility criteria. Self-employed individuals may, however, be eligible for a business loan from HDFC Bank.
Q. How can I calculate my HDFC Bank Personal Loan EMIs before applying for the loan?
To know your EMIs, you can take the help of Paisabazaar’s Personal Loan EMI Calculator. It is an online tool that can be used free of charge.
Q. What if I miss an EMI?
If you miss an EMI, you will be charged a late payment fee as well as penal interest on the applicable repayment amount. Your credit score may also get affected as a result of missing timely EMI payments.
