HDFC Personal Loan

Type of Fees	Charges Applicable
Interest Rate	11.25% – 18%
Cheque Bounce Charges	Rs 550/- per cheque bounce
Loan Processing Charges	Up to 2.50% of the Loan Amount subject to a minimum of Rs 1,999/- & Maximum of Rs 25000 for salaried customers.
Loan Cancellation Charges	NIL (Although, customers would be charged interest for the period between date of Loan Disbursement and Loan Cancellation and Processing Fee would be retained.)
Loan Tenure	12 – 60 months
Pre-Payment in Part or in Full	Salaried: Pre-Payment is allowed only after 12 EMIs Part Payment of HDFC Personal Loan can be done once in the financial year and twice during the entire tenure of up to 25% of the Principal Outstanding.
Part Payment Charges	Salaried: 13-24 Months – 4% of Principal Outstanding 25-36 Months – 3% of Principal Outstanding More than 36 months – 2% of Principal Outstanding
Charges for late payment of EMI	2% per month on EMI/Principal Overdue subject to the minimum amount of Rs 200/-

• • Loan Amount – HDFC Bank offers personal loan with the Loan Amount starting from Rs 50,000 till Rs 40,00,000. The bank looks into the Loan Applicant’s financial profile and considers the credit history, CIBIL Score, repayment capability etc.
  • Special Benefits of HDC Bank Personal Loan – The existing HDFC Bank customers can benefit from special rates and loan approvals in 20 seconds and other customers can avail a personal loan in under 4 hours (Terms and Conditions apply)
  • Minimal Documentation – With HDFC Bank, the entire process of personal loan application is quick, hassle-free and requires minimal documentation. One can also get funded within 4 hours of approval.
  • Get Insured with HDFC Bank Personal Loan – For a nominal premium, one can avail a Personal Accident Cover of up to Rs 8 Lakhs and critical illness cover up to Rs 1 LakhPersonal Loan Security – One can secure their personal loan from HDFC Bank with Sarv Suraksha Pro. Some benefits of it includes:
    1. Credit Shield Cover equal to the outstanding loan amount
    2. Accidental Hospitalisation Cover of up to Rs 8 Lakhs*
    3. Accidental Death/Permanent Disablement cover of up to Rs 1 Lakh*
       *(Terms and Conditions of the insurer apply)
  • Personal Loan Balance – Get low and revised interest rates by transferring the existing personal loan to HDFC Bank. With Personal Loan Balance Transfer, one can avail following benefits on their loan:
    1. Avail interest rates as low as 11.75%* on the existing Loan Transfer
    2. Avail Flat processing fee of only Rs 1999*

*Terms and Conditions apply. Loan at the sole discretion of HDFC Bank Limited. Subject to documentation and verification as per the requirements set by the Bank.

HDFC Bank offers personal loan to Salaried as well as Self Employed Individuals. HDFC existing customers can easily check the eligibility in no time online and can also check for Pre Approval Loan Offers. For new customers, the entire process of personal loan is quick, seamless and hassle-free.

Eligibility Criteria for Personal Loan in HDFC Bank are as follows:

1. Salaried Doctors, CAs, employees of private limited companies, employees from public sector undertakings including central, state and local bodies.
2. Individuals between the age group of 21 to 60 years can apply for a personal loan with HDFC Bank.
3. Individuals who have a job for at least 2 years, with a minimum of 1 year with the current organisation.
4. Individuals who earn a minimum of Rs 15,000 net income per month in non- metro cities and Rs 20,000 in Mumbai, New Delhi, Bengaluru, Chennai, Hyderabad, Cochin, Ahmedabad, Pune and Kolkata.

If a loan applicant is already a KYC complaint HDFC customer, one could get a personal loan with no documentation.

But for the non-customers as well, the entire process of documentation is pretty easy and hassle-free. HDFC Personal Loan Documents for salaried are mentioned below:

1. Proof of Identity – copy of Passport/Voter Id/Aadhaar/Driving License
2. Proof of Address – copy of Aadhaar/Voter ID/Driving License/Passport
3. Last three month’s Bank Statement or last 6 month’s Bank Passbook. Usually, these documents are required so the bank can do their verification of the Loan Applicant’s income status, which reflects the financial history and the repayment capability of the Applicant.
4. Latest Salary Slip/current dated salary certificate with the latest FORM 16. This is used for the financial institutions to check whether the level of minimum net monthly income matches the eligibility criteria checklist.

The Housing Development Finance Corporation ltd was among the first to receive an “in principal” approval from the RBI to set up a bank in the private sector. HDFC Bank has grown rapidly to become one of the most trusted financial institutions in the country. HDFC Bank provides Instant Personal Loan to individuals who are in immediate need of funds. The bank provides different products for different purposes so one can easily decide which product to opt for in the financial circumstances. The products have a very clear understanding for a new customer who are willing to apply for a Home Loan, Personal Loan, Credit Cards etc. Their documentation process is quick and smooth making the entire loan process seamless. Personal Loan limit for HDFC Bank varies for different customers based on the financial profile and Credit history.

Personal Loans are unsecured loans which do not require anyone to submit a collateral. Personal Loans can be used for any purpose be it a home renovation, a medical emergency, a long vacation – anything.

HDFC Personal Loan Interest Rate for Corporate Employees starts from 12.50%

Most salaried employees are eligible for personal Loan from HDFC Bank. However, the bank may require the loan applicants to have a certain minimum income level or financial history.

HDFC Bank provides a loan tenure of 12-60 months with some documents like income proof, recent bank statements with KYC documents and Income Tax Returns.

If you are a salaried employee with urgent financial need, HDFC personal loan might just be the solution. For existing HDFC customers, one can apply for a pre-approval Personal Loan in 10 seconds* only. (*Terms and Conditions apply) For the non-existing customers, individuals can get a Personal Loan in as less as 4 hours* (Terms and conditions apply, Loan disbursal at sole discretion of the bank)

If you are self-employed and wondering if you can take a personal loan, the answer is yes. HDFC Bank provides personal loan to self-employed individuals as well. They are offering loan amount up to Rs 40 Lakh with a flexible tenure from 12-60 months.

Self-employed individuals can take a personal loan for various purposes – to support business expansion plan, to plan a dream vacation with your family or to send it on higher education. HDFC Personal Loan for Doctors is also a special benefit from HDFC Bank. Personal loan covers all the personal and domestic purposes in our day to day life.

Self Employed individuals need to submit proof of address, proof of identity, bank statements, audited financial, tax returns and office agreement. Though one may be required to submit some additional documents depending on the kind of profession one has.

HDFC may require self-employed professionals to have a specified minimum income, which at times can vary from location to location. Financial documents that show income stability might help in getting a personal loan easily for self-employed individuals.

HDFC Bank offers personal loan balance transfer where one can avail benefits while transferring their existing personal loan to HDFC Bank from other banks. Personal Loan EMIs can be reduced by doing a balance transfer to HDFC Bank. HDFC Personal Loan Balance Transfer charges are:

• Interest Rates as low as 11.75%* on the existing Loan Transfer
• The processing fee is only of Rs 1999*

*Terms and Conditions apply. Loan at the sole discretion of the HDFC Bank. Subject to Documentation and Verification as per the Bank’s requirement.

Once the personal loan application is submitted and the documents required by the Bank’s criteria is complete, one can expect the approval and disbursal in 4 hours* (*Terms and Conditions apply), provided all the documents are in order. All Loan approvals are in sole discretion of the HDC Bank.

Fees and Charges of HDFC Personal Loan as follows:

Loan Processing Charges – Up to 2.50% of the Loan Amount

Charges for Late payment of EMI – 2% Per Month on EMI/Principal Overdue

A top up loan is an additional amount that one can avail on their existing personal loans and home loans. One can be eligible for Top Up Loans only when the regular loan payments are made on the existing loan. You can consider getting a Top Up Loan if:

1. You need additional funds on the ongoing Personal or Home Loan
2. You are looking for lower interest rate for Personal Loan and Home Loan

CIBIL Score indeed plays an important role in the financial report for all of us. Most of the Indian Banks have a specific requirement of having a minimum CIBIL Score before applying for a personal loan. CIBIL Score is not the only financial point which the banks look into. An individual’s financial history, past EMI record, CIBIL Score, Age, Location together make an impact on the personal loan interest rate.

In order to have a good or a decent financial report, one can aim for a CIBIL Score for 750 or higher. This way the bank can understand the financial report of the loan applicant and can provide favourable interest rate on the personal loan.

A personal loan can be used for a lot of purposes with marriage being one of the most common purposes. With HDFC personal loan, one can easily fund the marriage instantly and for all the wedding expenses. Personal Loan comes up with a lot of options with flexible EMI and loan tenure. Marriage Loan makes the fund borrowing easier and smooth so one cannot worry about the funds. HDFC offers flexible interest rates and easy eligibility so one can apply for a marriage loan from HDFC and avail convenient EMI and Loan Tenure of personal loan. HDFC Marriage Loan Interest Rate varies for different customers on the basis of financial profile of the customer.

With the help of the HDFC Personal Loan App, one can get complete Loan Assistance. One can easily search for new bank loan and also get instant approval on the loan, valid for both HDFC and Non HDFC Customers. Get personal loan status on the mobile app, manage existing Loan, Calculate EMI, Apply for a new Loan, top up loan and multiple products with HDFC Bank. HDFC Bank App can also help in tracking the Personal Loan Application online, so one does not need to visit or call the bank executives for status update.

Pre-Approval offer with HDFC Bank Personal Loan can be checked with the bank or online. Usually, if one is a long standing customer of HDFC and has a good credit history, they may be eligible for personal loan fast approval. HDFC Bank existing customers can also check in their personal banking account if they are eligible for a Pre-approved offer. Long standing HDFC Customers with good credit history are usually eligible for a Pre-approved personal loan* (*Terms and Conditions Apply)

HDFC Pre Approved Personal Loan Interest Rate varies as the bank offers most competitive Interest Rates on Personal Loan pre-approval. The bank is assured by the liability to pay therefore the rate might be different for the pre-approved customers.

HDFC Personal Loan Pre Closure Procedure can be followed with a set of documents and steps.

Documents Required for Pre closing HDFC Personal Loan:

• Personal Loan Account Number
• Identity Proof

One can carry Passport, PAN and Aadhaar Card:

• Other Personal Loan Documents like Loan Approval Letter, Loan Account Statement and the ones issued by the HDFC Bank.
• Pre closure Quote or Cheque/DD might also be required while pre closing your Personal Loan

Procedure for Pre-closing Personal Loan:

• Visit the nearest HDFC Branch with the above mentioned documents
• The bank might ask you to fill a form requesting the Pre closure of your Personal Loan
• Pay the pre closure amount via cheque or DD
• Sign the required documents if there are any
• Once the Bank receives the fund, the Personal Loan will be closed automatically.
• Post this, the bank will send a final loan closure document

HDFC personal loan repayment and statement can be done online as well. For payment and statement, one needs to share the loan details to the bank executives and they will help with the requirements. One can also create an account on HDFC personal loan portal and know the details of the personal loan whenever they wish to.

Anyone who is applying for HDFC personal loan can assess their monthly EMI even before applying for the loan using Personal Loan EMI calculator. To check the HDFC Personal Loan EMI Calculator for 5 years, the loan applicant can visit – www.paisabazaar.com , fill in the required details to check the eligibility, the loan amount, the monthly EMIs and then go ahead with applying for a personal loan. HDFC Personal Loan EMI Payment will then be immediately calculated and shared with the Loan Applicant. HDFC Bank approves the loan application within one working day if all the mandatory details are provided so the applicant can complete the documentation accordingly.

For applying a personal loan from HDFC Bank, the applicant would need to fill in their required details so that they can easily get themselves identified with the bank. The individual’s occupation, income details, credit history might then be asked by the bank before they approve the application. Some mandatory documents are also important to submit to the financial institution. A proper analysis is done by the bank and only if the loan applicant meets the eligibility criteria the process of approval of the application starts.

One can track their HDFC Personal loan application status with the help of the online application tool of the HDFC Bank. On completing the loan application, the bank will provide the loan application number through which you can start tracking the progress of the application.

To know the status of your HDFC personal loan form, you can go for HDFC Personal Loan tracker. HDFC Personal Loan tracker has a verification process via mobile number. Fill in the required fields like Applicant’s name, Reference Number or Proposal Number given by the bank followed by Mobile Number and Date of Birth. On entering these details, you will get to know the live status of your Personal Loan.

The other alternative option for tracking your personal loan is by going to the website.

On the HDFC Website, under the ‘Quick Links’ tab, you can track your personal loan by clicking on the ‘Track Personal Loan Request’. The window will ask for your mobile number and with a verification code sent on your mobile, you can track your personal loan application.

To apply for HDFC Personal Loan, one can visit their website www.hdfcbank.com. HDFC Persona Loan Procedure is as follows:

• Go to the ‘Personal Loan’ section on the homepage.
• There you will find all the details of their personal loan product including the rates and fees and some of the features and benefits of HDFC Personal Loan
• The online process of applying for a personal loan from HDFC Bank is customer friendly while being smooth and hassle free at the same time.
• Once you apply for a Personal Loan, HDFC Personal Loan disbursement process will start provided all the documentation is complete.

One can also visit the nearest HDFC Bank branch and contact their executives for more details on personal loan. You can also compare HDFC Bank personal loan interest rate with other banks to have more clarity on the same.

To get information on HDFC Banking products, HDFC Loan Enquiry, one can contact on HDFC Toll Free Number: 022-61606161

For selected Cities or Grievance Redressal, one can Email or visit their nearest HDFC Bank Branch. For more information, you can go to the ‘Customer Care’ tab on HDFC bank website.

Q. How much amount can be borrowed as personal loan from HDFC Bank?

A. One can take personal loan ranging from Rs 50,000 to Rs 40,00,000. However, the bank does go through the financial status of the loan applicant like the income, credit score, repayment capacity etc. And on the basis of these factors, the bank suggests the right loan amount to the loan applicant.

Q. How can I repay my Personal Loan?

A. Personal Loan can be repaid in Equal Monthly Instalments (EMIs). The Loan can also be paid through post-dated cheques. One can also pay through ECS or a standing Instruction to debit your HDFC account to the EMI amount.

Q. How does having a Salary Account with HDFC help in availing Personal Loan?

A. Applying for a Personal Loan with HDFC and having a salary account with the same gives a preferential rate of interest and processing fee, speedy process with minimal documentation. These points are taken into consideration at the time of disbursal of the Loan Amount.

Q. Does one need to provide any security or collateral to avail a Personal Loan from HDFC Bank?

A. No security, collateral or guarantee is required to apply for a Personal Loan from HDFC.

Q. What are the documents that are required to avail a personal loan from HDFC Bank?

A. Some of the documents required to apply for a personal loan include income details like salary slip, bank statement and FORM 16. The mandatory documents include Proof of Identity, Proof of Address and Photograph.

Q: What are the Interest Rate of Personal Loan from HDFC Bank?

A: The bank charges rack interest rate ranging from 11.25% – 18% per annum on the outstanding balance of the HDFC Bank.

Q: Is repayment of Personal Loan allowed?

A: Yes, one can choose to repay the Loan any time after 12 months of taking the Loan and after the applicant has paid 12 EMIs along with the applicable foreclosure charges. It is important to notice that Personal Loan can be foreclosed by issuing a demand draft or a cheque at the Bank. The Bank also highlights the important point that cash beyond Rs 49,000 cannot be accepted for part prepayment, full payment or mature loan closure payment. Payment above Rs 49,000 should be made only through Account Payee Cheque, Pay Order or Demand Draft.

Q: What are the charges one has to pay to change the mode of repayment/account for Personal Loan?

A: Service Charge of Rs 500 will be applicable for changes in Loan Repayment instructions issued from non HDFC Bank Account (ECS or PDS Facility). For changing the mode of repayment/account for Personal Loan, a cheque, Pay order or Demand Draft of Rs 500 favouring “HDFC Bank Ltd Loan Account No. <<  >> “ will be required along with the revised set of repayment instructions.

Q: Does HDFC Bank have any features related to Personal Loan?

A: There are a few features of HDFC Personal Loan:

PROTECT YOURSELF WITH INSURANCE:

For a nominal premium, one can avail a Personal Loan Accident cover of up to Rs 8 Lakhs and critical Illness cover up to Rs 1 Lakh. The premium of these policies is deducted from the Loan Amount during the time of disbursal. Surcharge and applicable taxes will be charged accordingly.

Personal Loan Security:

Now, the Personal Laon can be secured with the help of Sarv Suraksha Pro. Some of it’s benefits are:

• Credit shield cover which is equivalent to the outstanding Loan Amount.
• Up to 8 lakhs* of cover in Accidental Hospitalization.
• Permanent Disablement or accidental death cover of Rs 1 Lakh*

*Terms and conditions of the insurers shall apply for the above features.

Q: Does HDFC offer balance transfer facility?

A: HDFC bank does offer Personal Loan Balance Transfer Facility to the customers running a personal loan with higher rate of interest. The Loan Applicant can lower their personal Loan EMI with the balance transfer facility of HDFC Bank. Some features to be noted:
*Interest Rates go as low as as 11.75%* on the existing Loan transfer
*Flat processing fee only of Rs 1999*
*For more details on this feature, contact the nearest HDFC Bank branch
*Terms and Conditions Apply

Q: How long does it take for the Personal Loan to be processed?

A: Once the Loan Application and the required documents are submitted as per the criteria laid down by the Bank, one can expect the approval and disbursal in 4 hours provided all the documentation has been done. All the Loan Approvals are at the sole discretion of the bank.

Q: Is Part Pre Payment of a Personal Loan allowed?

A: Part pre-payment is allowed after completion of 12 EMIs from the Loan Disbursement.

• Part Payment is allowed only twice during the entire Loan Tenure
• Part Payment is allowed only once in a single financial year
• Each Part Payment shall not exceed 25% of the Principal Outstanding

Q: How can I get in touch with HDFC bank in case of queries and complaints?

A: One can contact the HDFC Bank executives through email www.hdfcbank.com/services mentioning the particular concern along with the following documents:

1. Loan Account number
2. Name of the Applicant / Loan favouring
3. Applicant’s date of birth
4. Correspondence address
5. EMI Amount
6. Loan Amount
7. Mode of repayment (ECS/Standing Instruction/Post-dated cheques
8. Query/Complaint
9. Bank name and account number from which the EMIs are collected