Apply for Personal Loan Starting From 10.50%*| HDFC Bank Personal Loan Highlights – June 2022 | |
| Interest Rate | 10.50% p.a. onwards |
| Loan Amount | Up to Rs 40 lakh |
| Tenure | Up to 6 years |
| Processing Fee | Up to 2.5% of loan subject to a maximum of Rs 25,000 for salaried customers |
| Minimum Monthly Salary | Rs 25,000 |
Note: Rates as of 23rd June 2022
Table of Contents
HDFC Bank Personal Loan Interest Rate
HDFC Bank personal loan interest rates start from 10.50% 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 vs other Banks/NBFCs
| Banks/NBFCs | Interest Rates (per annum) | |
| HDFC Bank | 10.50% | Apply Now |
| SBI | 9.80%-13.80% | Apply Now |
| ICICI Bank | 10.50% onwards | Apply Now |
| Axis Bank | 10.25% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| IndusInd Bank | 10.49% onwards | Apply Now |
| IDFC First Bank | 10.49% – 25.00% | Apply Now |
| Bajaj Finserv | 13.00% onwards | Apply Now |
| Tata Capital | 10.99% onwards | Apply Now |
Click here to compare personal loan interest rates of all major Banks/NBFCs
Apply for Personal Loan with Quick Disbursal Click Here
HDFC Bank Personal Loan Processing 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
Personal Loan at Attractive Interest Rates Apply Now
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
Also Read: Does consolidating your loans affect your credit score?
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: HDFC Bank Personal Loan for Women is offered 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 Check: 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: Personal loan balance transfer facility for existing borrowers of other banks/NBFCs to avail lower interest rates at HDFC Bank
- Processing Fee: Starting at Rs 3,999 + GST
Know more details on: HDFC Bank personal loan balance transfer
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
Check Your Free Credit Score to know personal loan eligibility Check Now
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: Documents required to apply for Personal loan from HDFC bank for self & salaried employees?
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
- 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
Q. 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.
Q. 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.
Q. Is foreclosure of Personal Loan allowed?
Ans. Yes, foreclosure of personal loan is allowed, after 12 months of availing the personal loan. The foreclosure charges go up to 4% of the outstanding principal amount.
Q. Can I part-prepay my HDFC Bank Personal Loan?
Ans. You can make part-prepayment on HDFC Bank 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.
Q. What is the minimum credit score required to avail personal loan from HDFC Bank?
Ans. HDFC Bank considers a minimum credit score of 650 for availing personal loan.