HDFC Bank Personal Loan Highlights | |
Interest rate | 10.75% p.a. onwards |
Loan Amount | Up to Rs. 40 Lakh |
Eligibility Age |
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Eligible Income |
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Processing Fees | Up to 2.5% of loan sanctioned |
Loan Tenure | Up to 60 months |
HDFC Bank offers personal loan with minimal documentation and speedy approvals, making it easy for individuals to easily access funds due to a financial emergency. You can avail a loan amount of up to Rs. 40 lakh that can be repaid within a tenure which ranges between 12 to 60 months.
Table of Contents
Features of HDFC Bank Personal Loan
- Loan Amount: HDFC Bank offers a personal loan amount starting from Rs. 50,000 up to Rs. 40 lakh.
- Flexible tenure: The tenure for HDFC Bank personal loan ranges from 12 to 60 months and can be selected by an individual as per his/her repayment ability
- Minimal Documentation: HDFC Bank’s personal loan application is quick and hassle-free as it requires only minimal documentation
- Personal Loan Security: One can secure his personal loan from HDFC Bank with Sarv Suraksha Pro. The benefits are:
- Credit Shield Cover equal to the outstanding loan amount
- Accidental Hospitalization Cover of up to Rs 8 Lakh
- Accidental Death/Permanent Disablement cover of up to Rs 1 Lakh

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- Personal Loan Balance Transfer: Get low and revised interest rates by transferring your existing personal loan to HDFC Bank. With Personal Loan Balance Transfer, one can avail the following benefits:
- Avail interest rates as low as 10.50% on the existing loan amount transferred
- Avail Flat processing fee of only Rs. 1999
- Get Insured with HDFC Bank Personal Loan: If you have a personal loan with HDFC Bank, you have the option to avail a Personal Accident Cover of up to Rs. 8 lakh and critical illness cover up to Rs. 1 lakh for a nominal premium. The premium of these policies will get deducted from the loan amount at the time of disbursal.
HDFC Personal Loan Interest Rates
The interest rate offered by HDFC Bank on a personal loan starts at 10.50% p.a. However, the interest rate provided to an individual on a personal loan depends on multiple factors including credit score, age, employment, repayment history, current debt, etc.
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. 20,000 per month if you are living in Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Pune, Ahmedabad, Kolkata and Cochin. For residents in other cities, minimum monthly income requirement is Rs. 15,000.
Know More: HDFC Personal Loan Eligibility
Documents Required for Loan Application
- Identity proof: Copy of passport/voter ID card/driving license/Aadhaar
- Address proof: Copy of passport/voter ID card/driving license/Aadhaar
- Bank statement of previous 3 months (Passbook of previous 6 months)
- Two latest salary slip/current dated salary certificate with the latest Form 16
Read More: HDFC Personal Loan Documents

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How to Apply for HDFC Personal Loan with Paisabazaar?
- Fill out the online form on Paisabazaar with key details like income, required loan amount, city, phone number, etc.
- Check out offers from various banks ranked according to the chances of approval
- Select your desired lender or call Paisabazaar for assistance
- Submit your application which will be forwarded to your chosen lender
- Upload documents/schedule document pickup
- Bank’s executive will call for verification
- Approval and disbursal
Know all about HDFC Bank Instant Personal Loan
Personal Loan Verification Process
- After you have filled out all the necessary forms on Paisabazaar, your personal loan application is processed by the bank
- The bank goes through your application form and gives you a verification call
- Once the verification is completed, the bank schedules a document pickup from your home or office
- Once you have submitted all applicable documents, they get checked for further verification
- After verification, you get another call from the bank confirming the final loan amount, interest rate and tenure
- Once the bank gets the confirmation from your side, the loan amount is disbursed within a few working days
Check HDFC Personal Loan Application Status
- You can easily check status of your HDFC personal loan application online
- Enter either application name or reference proposal number
- Enter either date of birth or mobile number
- Click on ‘Submit’
Fees and Other Charges
Loan processing charges | Up to 2.50% of the loan amount subject to a minimum of Rs. 2,999 & maximum of Rs. 25,000 for salaried customers |
Prepayment in Part or full (Refer FAQ section for detailed terms) | Salaried: No pre-payment in part or full permitted until repayment of 12 EMIs Part-payment allowed up to 25% of principal outstanding. This is allowed only once in a financial year and twice during the entire loan tenure. |
Pre-payment charges (on principal outstanding) /Part-payment charges [on part-payment amount] | Salaried: 13-24 months – 4% of loan principal outstanding 25-36 months – 3% of loan principal outstanding >36 months – 2% of loan principal outstanding |
Overdue EMI interest | 2% per month on EMI amount overdue |
Floating rate | Not applicable |
Charges for changing from floating to fixed rate of interest | Not applicable |
Stamp duty & other statutory charges | As per state laws |
Cheque swapping charges | Rs. 500 + GST |
Amortization schedule charges | Rs. 200 + GST |
Loan cancellation charges | NIL (However interest will be charged for the interim period i.e. period from date of loan disbursement to loan cancellation. Loan processing fees will be retained.) |
Cheque bounce charges | Rs. 550/cheque bounce + GST |
Legal/incidental charges | As per actuals |

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How to Login on HDFC Bank Portal?
- Go to the HDFC Netbanking homepage
- Enter your login ID and password
- Click on ‘log in’
Know more about HDFC Personal Loan Login
HDFC Personal Loan Statement
- Log in to NetBanking
- Choose the Loan Tabs and select ‘Register New Loan’
- Enter your details
- Click on ‘submit’
- You will get an OTP on your registered phone. Enter it to complete registration
HDFC Bank Personal Loan Restructuring (COVID-19)
In order to reduce the financial burden on borrowers during the national COVID-19 lockdown, HDFC Bank had introduced the RBI-mandated moratorium which ended in September. As a result, from October 2020 onwards, all borrowers including those with outstanding HDFC personal loans were expected to resume regular EMI payments. However, as many borrowers are still facing financial hardship due to the COVID-19 pandemic, HDFC Bank has now introduced the loan resolution mechanism in accordance with suggestions of the RBI.
This relief mechanism is expected reduce the burden of loan repayment for eligible borrowers for a period of up to 2 years. One must however bear in mind that restructuring would involve payment of additional interest on the outstanding loan as well as change in the status of loan to “restructured” on the borrower’s credit report which may impact the credit score. As a result, you should only opt for loan restructuring as a last resort otherwise continue making your scheduled loan EMI payments if you have the financial means to continue doing so.
Read More About: HDFC Bank Personal Loan Restructuring (COVID-19)
EMI Calculation
Loan principal @ interest | Tenure | ||||
1 year | 2 years | 3 years | 4 years | 5 years | |
2 lakh @ 11.25% | Rs. 17,699 | Rs. 9,344 | Rs. 6,571 | Rs. 5,193 | Rs. 4,373 |
5 lakh @ 12% | Rs. 44,424 | Rs. 23,536 | Rs. 16,607 | Rs. 13,166 | Rs. 11,122 |
10 lakh @ 12.5% | Rs. 89,082 | Rs. 47,307 | Rs. 33,453 | Rs. 26,579 | Rs. 22,497 |
15 lakh @ 13% | Rs. 1,33,975 | Rs. 71,312 | Rs. 50,540 | Rs. 40,241 | Rs. 34,129 |
Read About: How to calculate HDFC Bank Personal Loan EMI
Comparison of HDFC Personal Loan VS Other Lenders
Particulars | HDFC Bank | Bajaj Finserv | Axis Bank | Citi Bank | ICICI Bank |
Interest Rate | 10.50% p.a. onwards | Starting from 11.49% | 12.00% p.a. onwards | Starting from 9.99% | 11.50% to 19.25% |
Tenure | 12 to 60 months | 12 to 60 months | 12 to 60 months | 12 to 60 months | 12 to 60 months |
Loan amount | Upto Rs. 40 lakh | Upto Rs. 25 lakh | Rs. 50,000 to Rs. 15 lakh | Upto Rs. 30 lakh | Upto Rs. 20 lakh |
Processing Fee | Upto 2.50% of the loan amount | Up to 3.99% of the loan amount | Upto 2% of loan amount plus GST | Upto 3% of the loan amount | Upto 2.25% of loan amount plus GST |
HDFC Bank Customer Care
- You can call on HDFC bank customer care number 1800-258-3838 (toll free number). You can give a call on the following numbers:
Ahmedabad | 079-61606161 |
Bangalore | 080-61606161 |
Chandigarh | 0172-6160616 |
Chennai | 044-61606161 |
Cochin | 0484-6160616 |
Delhi and NCR | 011-61606161 |
Hyderabad | 040-61606161 |
Indore | 0731-6160616 |
Jaipur | 0141-6160616 |
Kolkata | 033-61606161 |
Lucknow | 0522-6160616 |
Mumbai | 022-61606161 |
Pune | 020-61606161 |
NRIs can call on:
USA | 855-999-6061 |
Canada | 855-999-6061 |
Singapore | 800-101-2850 |
Kenya | 0-800-721-740 |
Other Countries | 91-2267606161 |
- You can write to the bank at HDFC Bank Ltd., Empire Plaza I, 1st Floor, LBS Marg, Chandan Nagar, Vikhroli West, Mumbai – 400 083
- You can visit the nearest branch of HDFC Bank
Benefits of Applying for Personal Loan at Paisabazaar
- Convenient: When you apply for a personal loan at Paisabazaar.com, you don’t have to physically visit the bank. The entire process from application to in-principle loan approval can be completed online from the comfort of your home or office
- User friendly online platform: To help you decide the appropriate loan option, Paisabazaar offers a range of information ranging from loan amount and processing fees to foreclosure charges and tenure options
- Minimal documentation: When you apply for a loan through Paisabazaar, you will are asked to provide only a few documents such as ID and address proof along with income proof
- Compare and choose: Paisabazaar is one platform that lets you compare interest rates, tenure options, loan amounts offered by various lenders. This way, you get to choose the bank offering the lowest interest rate to make your EMIs affordable
Important Aspects
- Loan amount: The lesser you borrow, the more conveniently and easily you would be able to pay back the amount. Therefore, borrow only in case of emergency and not because it is easily available. Also, remember to borrow as per your repayment ability as borrowing more than you can repay may lead you into a debt trap
- Credit score: It is one of the most important factors considered by banks while approving your loan application. Your credit score is reflection of your past loans and credit cards repayments. Therefore, having a high credit score can improve your chances of approval for a personal loan
- Interest rates and Interest Payout: Interest rates have an impact on your instalment. Therefore, to have affordable EMIs, it is necessary to choose a bank offering the lowest interest rate. You can compare interest rates by various banks on Paisabazaar. However, also keep in mind that a longer tenure will result in a higher interest pay out over the loan tenure
- Other fees and charges: Except from interest rate, there are many other fees and charges associated with a personal loan. These include processing fees, late payment fees, foreclosure charges, part prepayment fee, etc. It is important to ask your lender about all these charges to avoid any shock in the future
FAQs
Q1. How much amount can be borrowed as personal loan from HDFC Bank?
One can take personal loan ranging from Rs 50,000 to Rs 40 lakh. However, the bank does go through the financial status of the loan applicant like income, credit score, repayment capacity, etc. And on the basis of all these factors, the bank suggests the right loan amount to the loan applicant.
Q2. How does having a Salary Account with HDFC help in availing Personal Loan?
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 a HDFC personal loan. However, these are often limited time offers provided to specific individuals.
Q3. Is foreclosure of Personal Loan allowed?
Yes, you can choose to foreclose the loan any time after 12 months of taking the loan. In case of foreclosure, charges of up to 4% of the principal amount outstanding are applicable.
Q4. What are the charges one has to pay to change the mode of repayment/account for Personal Loan?
For changing the mode of repayment/account for Personal Loan, a cheque, pay order or Demand Draft of Rs. 500 + GST favoring “HDFC Bank Ltd Loan Account No.” will be required along with the revised set of repayment instructions.
Q5. 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 part 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 principal outstanding
Q6. How do I get the address changed in my loan account?
If you wish to change your address in our records, you can visit the nearest retail loan service center and can 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
Q7. I am a self- employed individual. Can I apply for a personal loan at HDFC Bank?
No, HDFC Bank current 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.
Q8. 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.
Q9. 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.
Q10. What are the different types of HDFC Bank Personal Loan?
Currently HDFC bank does not offer multiple types of personal loans, however, this loan can be disbursed for various uses such as travel, medical expenses, home renovation expenses, etc.