Apply for Personal Loan Online in HDFC Bank

Personal Loan  Updated date : November 29, 2017 901

HDFC Bank’s personal loan can be customised to match your requirements, whatever be the purpose. Use the funds from our personal loans to finance a range of needs, from your wedding to your home renovation.

Apply for a personal loan and receive funds in 4 hours*, thanks to our speedy processing. With several unmatched benefits, HDFC Bank offers among the best personal loan in India. Customers enjoy transparent processing, simple documentation and competitive interest rates on our personal loans.

You can also use the Personal Loan EMI calculator to know how much EMI you will have to pay for your Personal Loan.

Quick, competitive and transparent, HDFC Bank Personal Loans can be customised to suit your every need. With a fast disbursal process, you can avail of a loan in 4 hours*, while enjoying our unmatched benefits.

*Terms and conditions apply. Loan at sole discretion of HDFC Bank limited. Subject to documentation and verification as per Banks requirement.

Personal Loan Features

We offer a range of features and benefits on personal loans.

The key features of personal loans include customisation of personal loans, and special interest rates on personal loans for existing HDFC Bank customers. You can also transfer your existing personal loan to HDFC Bank.

There are several benefits of personal loans from HDFC Bank. You can get in touch via SMS, online chat or phone banking, and check your personal loan eligibility online in just 60 seconds. Additional personal loan benefits include personal accident cover and personal loan security.

Read more about the features and benefits of HDFC Bank personal loans.

  • Stay Protected Personal Accident Cover : For a nominal premium* you can avail of Personal Accident cover of up to Rs. 8 lakhs, and Critical Illness cover of up to Rs. 1 lakh. The premium for these policies will be deducted from the loan amount at disbursal. Applicable taxes and surcharge/cess will be charged extra.
  • Personal Loan Security : Secure your personal loan with Sarv Suraksha Pro,
    key benefits includes:
    • Credit Shield Cover equal to the outstanding loan amount
    • Accidental Hospitalisation cover of up to Rs. 8 lakhs*
    • Accidental Death/Permanent Disablement cover of up to Rs. 1 lakh*

    *Terms and conditions of the insurers shall apply. The policy is offered by HDFC Ergo GIC Ltd.

  • Fulfil Your Every Need : No matter what your needs, HDFC Bank can customise a Personal Loan for you. Existing HDFC Bank account holders can avail of our special offers, interest rates and charges. First-time Loan customers can also avail of a host of benefits.
  • Transfer Loan Balance with Ease : Transfer your existing Personal Loan to HDFC Bank. Enjoy lower EMI’s and SAVE on your interest payments
    • Interest rates as low as 11.29%* on the existing loan transfer
    • Flat processing fee of only Rs. 1499*
    • To transfer your loan balance
  • Quick Eligibility Check & Disbursal : Check your Personal Loan eligibility online or at select branches in just 60 seconds. Once all your papers are submitted, the loan will be disbursed in just one working day.
  • Convenient Borrowing : For any help with your loan, you can reach out to us via SMS, Webchat, Click2Talk and PhoneBanking.

    *Terms and conditions apply. Loan at sole discretion of HDFC Bank limited. Subject to documentation and verification as per Banks requirement.

Personal Loan Eligibility Criteria

The eligibility criteria for personal loan in HDFC Bank apply to both salaried and self-employed individuals.

Read below to find out more about eligibility criteria for personal loans.

The following people are eligible to apply for a Personal Loan:

  • Salaried doctors, CAs, employees of private limited companies, employees from public sector undertakings, including central, state and local bodies
  • Individuals between 21 and 60 years of age
  • Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer
  • Those who earn a minimum of Rs. 15,000 net income per month (Rs. 20,000 in Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Cochin)

Personal Loan Documentation

HDFC Bank needs simple documents for personal loans. Read more to find out about the required documents for personal loans.

The following documents are required along with your Personal 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
  • Latest salary slip/current dated salary certificate with the latest Form 16

Personal Loan Rates & Fees

HDFC Bank offers competitive rates of interest on personal loans. If you are an existing customer, you can enjoy additional benefits on interest rate on your personal loan. Find out more about HDFC Bank’s personal loan interest rates, along with personal loans fees and charge below.

Enclosed below are HDFC Bank Personal Loan Interest Rates & Charges

FeeAmount to be Paid
Rack interest rateSalaried - 14.75% to 20.70%
Loan processing chargesUp to 2.50% of the loan amount subject to a minimum of Rs. 1,999/- & Maximum of Rs. 25000/- for Salaried Customers.
PrepaymentSalaried - No pre-payment permitted until repayment of 12 EMIs
Pre-payment chargesSalaried - 13-24 Months - 4% of Principal Outstanding,
25-36 Months - 3% of Principal Outstanding
>36 Months - 2% of Principal Outstanding
No Due Certificate/No Objection Certificate (NOC)NIL
Duplicate of No Dues Certificate/NOCNIL
Solvency CertificateNot applicable
Charges for late payment of EMI2% per month on EMI / Principal overdue subject to the a minimum amount of Rs. 200/-
floating rateNot applicable
Charges for changing from floating to fixed rate of interestNot applicable
Stamp duty & other statutory chargesAs per applicable laws of the state
Credit assessment chargesNot applicable
Non standard repayment chargesNot applicable
Cheque swapping chargesRs 500/-
Amortization Schedule chargesRs 200/-
Loan cancellation chargesNIL (However client would be charged interest for the interim period between date of loan disbursement and loan cancellation and processing fees would be retained.)
Cheque bounce chargesRs. 550/- per cheque bounce
Legal/incidental chargesAt actual

Rates offered to customer during the period of July 2017 to September 2017.

IRRQ II (2017-18)
Min IRR10.45%
Max IRR20.78%
Avg IRR13.00%

Annual Percentage Rate offered to customer during the period of July 2017 to September 2017.

APRQ II (2017-18)
Min APR10.47%
Max APR23.26%
Avg APR13.25%

*Government Taxes and other levies as applicable will be charged over and above the Fees and Charges

Loan at the sole discretion of HDFC Bank Ltd.

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