HDFC Bank Personal Loan

Below are the key details of the HDFC personal loan:

• You can get an HDFC Bank instant personal loan amount up to Rs. 40 Lakhs. Basis the loan requirement, you can avail up to Rs. 75 Lakhs (subject to eligibility norms).
• Pre-approved personal loans are available to select existing customers, with instant disbursal in just 10 seconds.
• Personal loan top-up and balance transfer facilities are available.
• HDFC Bank personal loan interest rates are highly affordable, ranging from 10.85% to 24% p.a. The bank charges a fixed rate of interest at the reducing balance method.
• The loan amount can be used for virtually any purpose, including a wedding, home renovation, medical emergency, travel, etc.
• The loan can be repaid within tenures of 12 to 60 months.
• Get hassle-free financing without pledging any collateral. Loan approval is based solely on the borrower’s income and creditworthiness.
• HDFC personal loans are processed swiftly, often within seconds or just a few days post-approval.
• Under the Golden Edge program, the bank offers the customer a loan of above Rs. 10 Lakhs with an option to foreclose the loan in part or in full without any prepayment charges (if paid from own sources). This facility is available after the payment of a minimum of 12 EMIs.​ The customer must be earning an income of Rs. Rs. 75,000 or above to be eligible.
• You can use the HDFC Bank personal loan calculator to know your EMIs even before applying for the loan.

HDFC personal loan interest rates are competitive. The bank charges a fixed interest rate ranging from 10.85% to 24% per annum at the reducing balance method. Reducing personal loan interest rate is a method of calculating the interest rate on the outstanding loan amount each month. The EMI under this method includes the interest payable on the total due loan amount. The final interest rates applicable to the loan may vary according to the borrower’s credit score, monthly income, job profile, loan amount, employer’s profile, and other factors.

You can easily calculate your HDFC Bank personal loan EMI using the HDFC Bank Personal Loan EMI Calculator available on our portal. This free online tool is easy to use and helps in the assessment of your HDFC personal loan amount eligibility. All you have to do to know your EMI is enter a few details, such as the loan amount, interest rate, and tenure, to get the result. Along with the EMI, the calculator will also provide a complete amortization schedule of your loan repayment.

The following are the HDFC Bank personal loan processing fee, prepayment penalty, and other charges:

• Processing fee: Up to Rs. 6,500 + GST.
• Prepayment (full & part) charges: 4% of principal outstanding for up to 24 EMI, 3% of principal outstanding post 24 - 36 EMI, and 2% of principal outstanding after 36 EMI.
• Repayment mode change charges: Rs. 500.
• Payment return charges: Rs. 450 per instance.
• Amortization schedule charges: Rs. 50 per schedule for a physical copy.
• Loan cancellation charges: In the event of loan cancellation after the cooling-off/look-up period, the interest charged from the date of disbursement till the date of loan cancellation will be borne by the customer. 
• Rebooking charges: Rs. 1,000 + applicable government taxes. 
• Delayed instalment payment charge: 1.50% per month (18% p.a) + applicable government taxes on overdue instalment amount. 
• Stamp duty & other statutory charges: At actuals (As per applicable laws of the state).
• Legal/incidental charges: At actuals.

*Senior Citizen Customers are eligible for a discount of 10% on all service charges

You can avail of a personal loan from HDFC Bank if you meet the following HDFC Bank personal loan eligibility:

• Employees of private limited companies and public sector undertakings (including central, state, and local bodies).
• Individuals between the age group of 21 to 60 years.
• Individuals who have had a job continuity of at least 2 years, with a minimum experience of 1 year with the current employer.
• Individuals earning a minimum net monthly income of at least Rs. 25,000 (Rs. 75,000 per month for the Golden Edge program.
• A credit score of above 720 is considered good for sanctioning a personal loan at HDFC Bank.

If you meet the HDFC personal loan eligibility, you can apply for the loan by submitting the documents mentioned below:

• Identity proof and address proof: Copy of Passport/ Voter ID Card/ Driving License/ Aadhaar Card
• Bank statements: Bank statements of the last 3 months or passbook of the previous 6 months
• Income documents: Latest 2 salary slips or current dated salary certificate with the latest Form 16

If you want to get an HDFC Bank personal loan, apply online easily by following the steps mentioned below:

• Check your HDFC Bank personal loan eligibility by clicking the ‘View Loan Eligibility’ button on the product page on our web portal.
• If you meet the eligibility criteria of the Bank, apply for the loan online by mentioning some basic details and filling up the form. 
• Upload the required documents.
• Submit the form, and our personal loan experts will get in touch with you.
• Once you have applied for the loan, you can check your HDFC Bank personal loan application status through our experts or bank professionals.

If you have any concerns or queries regarding HDFC Bank personal loan, including the application process, loan disbursal, getting an HDFC Bank personal loan statement, etc., you can contact the HDFC Bank personal loan customer care team through any of the following ways:

• HDFC personal loan customer care number: 1800 1600/ 1800 2600 (accessible across India)
• Customer care number for customers travelling abroad: +9122 61606160
• WhatsApp number: 70700 22222