HDFC Personal Loan

HDFC Bank Personal Loan Highlights
Interest Rate	11.00% p.a. onwards
Loan Amount	Up to Rs 40 lakh
Tenure	Up to 6 years
Minimum Monthly Salary	Rs 25,000
Processing Fee	Up to Rs 4,999
Pre-approved instant personal loan	Offered to select customers of HDFC Bank with loan disbursal in 10 seconds
Pre-closure Charges	Allowed if borrower has paid at least 12 EMIs. For salaried: 4% of principal outstanding (13-24 months) 3% of principal outstanding (25-36 months) 2% of principal outstanding (After 36 months)
Part-payment Fees	Allowed if borrower has paid at least 12 EMIs. For salaried: 4% of principal outstanding (13-24 months) 3% of principal outstanding (25-36 months) 2% of principal outstanding (After 36 months)
Documentation	Proof of Identity Proof of Address Bank statements (last 3 months) Salary slips (latest)

Note: Rates as of 19th January 2023

HDFC Bank Personal Loan Interest Rate

HDFC personal loan interest rates start from 11.00% 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 of Interest Rates of HDFC Bank with other Banks/NBFCs

Banks/NBFCs	Interest Rates(p.a.)
HDFC Bank	11.00% onwards	Apply Now
SBI	10.90%-15.40%
ICICI Bank	10.75% onwards	Apply Now
Axis Bank	10.49% onwards	Apply Now
Kotak Mahindra Bank	10.99% onwards	Apply Now
IndusInd Bank	10.49% onwards	Apply Now
IDFC First Bank	10.49% onwards	Apply Now
Bajaj Finserv	11.00% onwards	Apply Now
Tata Capital	10.99% onwards	Apply Now

Compare personal loan interest rates of all major Banks/NBFCs

HDFC Bank Personal Loan Processing Fees and Charges

Fees	Charges
Processing Charges	Up to Rs 4,999
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) Part-payment allowed up to 25% of Principal Outstanding. It is allowed once in the financial year and twice during the loan tenure.
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 months- 2% of outstanding principal

Know about processing fee for personal loan in detail

HDFC Bank Personal Loan EMI Calculator

Types of HDFC Bank Personal Loan

Marriage Loan

• Purpose: Marriage loan is offered to meet wedding related expenses
• 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

Debt Consolidation Loan

• Purpose: Personal loan for debt consolidation is a loan refinancing facility offered to existing borrowers for reducing their debt burden by repaying their existing loans/credit card dues availed at higher rate of interest
• 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

HDFC Personal Loan for Home Renovation

• Purpose: Personal loan for home renovation finances the expenses related to home renovation such as kitchen remodeling, replacement of old furniture, sprucing, change in electrical wiring and installation of new fixtures and fittings
• 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

HDFC Bank 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

HDFC Bank Personal Loan for Women

• Purpose: HDFC Bank offers personal loans to women to fund their higher education, travel or wedding plans or to deal with 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

HDFC Personal Loan for Salaried

• Purpose: Instant personal loan for salaried individuals for financing their personal needs
• 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

HDFC Personal Loan for Government Employees

• Purpose: HDFC Bank Personal Loan for Government employees is offered to individuals employed in government sectors for meeting their diverse financial needs.
• 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

HDFC Personal Loan Balance Transfer

• Purpose: HDFC Personal Loan Balance Transfer facility is offered to existing personal loan borrowers of other banks/NBFCs for transferring their existing personal loans from to HDFC Bank at lower interest rates
• Processing Fee: Starting at Rs 3,999 + GST

HDFC Bank Personal Loan Eligibility

• 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
• Additionaly, HDFC personal loan eligibility may also depend on the credit score of its personal loan applicants.

Know more about personal loan eligibility of top banks and NBFCs

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

Also know about HDFC Personal Loan Documents in detail

Why Apply for a HDFC Personal Loan at Paisabazaar.com

1. 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.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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.
7. 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.
8. 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 Personal Loan Customer Care

• Helpline number: 1800 202 6161 / 1860 267 6161 (Accessible across India) or chat with the bank’s intuitive virtual assistant called EVA for quick solutions
• For registration of complaints : 1800 258 3838

To know the HDFC Personal Loan customer care number in your city, click here

FAQs

1. How long does it take the HDFC Bank to disburse a personal loan?

Ans. HDFC Bank usually disburses personal loan within 4 working days from the date of application. It also offers pre-approved instant personal loans to select customers where the funds are disbursed in just 10 seconds, with no documentation.

2. Can having a salary account with HDFC Bank help in availing Personal Loan?

Ans. Having a salary account, savings account or any other deposit or lending relationship with HDFC Bank may help you to avail Personal Loan from HDFC Bank at lower interest rates. However, the bank will also consider factors like your geographic location, monthly income, existing loans, credit score, employer’s profile, etc. while evaluating your personal loan eligibility.

3. Is foreclosure of HDFC Bank Personal Loan allowed?

Ans. Yes, foreclosure of HDFC Bank personal loan is allowed, after 12 months of availing the personal loan. The foreclosure charges go up to 4% of the outstanding principal amount.

4. Can I part-prepay my HDFC Bank Personal Loan?

Ans. You can make part-prepayment on HDFC personal loan only after the repayment of 12 EMIs. Part-prepayment is allowed up to 25% of outstanding principal only once in the financial year and twice during the loan tenure.

5. What is the minimum credit score required to avail HDFC Bank personal loan?

Ans. HDFC Bank considers a minimum credit score of 650 for availing personal loan.

6. How can we check HDFC Bank Personal Loan status?

Ans. HDFC Bank Personal Loan applicants can check their application status online as well as offline. The applicants can visit the official website of HDFC Bank and click on “Track your application” option in the “personal loan tab”. HDFC Personal Loan Tracker will open. Applicants can fill in the required details and click submit. HDFC Bank Personal Loan Status will be reflected on the screen. Applicants can also call on HDFC Bank Personal Loan customer care numbers or visit the nearest HDFC Bank branch to know their HDFC Bank Personal Loan status.

7. How can I repay my HDFC Personal Loan?

Ans. You can repay your HDFC Bank Personal Loan in equated monthly instalments. The loan will be repaid through post-dated cheques. HDFC personal loan can also be repaid through ECS or a standing instruction (in case of existing saving/current account holders). You can also use HDFC Personal Loan EMI Calculator to know how much EMI you need to pay.