HDFC BANK
Personal Loan
Personal Loan
HDFC Bank Personal Loan Interest Rates start from 10.75% p.a. Get instant Personal Loan up to Rs. 40 lakhs and also customer can avail upto Rs. 75 Lakh as per bank eligibility norms for multiple purposes. With minimum documents and easy-to-meet personal loan eligibility criteria, it is completely hassle free to apply for a HDFC personal loan. You can instantly calculate the EMI for the loan using the EMI Calculator and get instant approval for an attractive interest rate on a personal loan.
HDFC Bank Personal Loan Details
| Loan Feature | Details |
|---|---|
| Interest Rate | 10.75% |
| Purpose | All personal expenses including travel, medical emergencies, education and wedding |
| Loan Quantum | Rs. 50,000 - Rs. 40 Lakhs and also Rs. 75 Lakhs as per eligibility norms |
| Eligibility age | Minimum age: 21 years Maximum age: 60 years at the end of loan tenure |
| Minimum income required | Rs.25000 per month |
| Repayment tenure | Up to 7 Years |
| Processing fee | Upto Rs. 4999/- |
| Prepayment Charges | 4% of principal outstanding for 13–24 months, 3% of principal outstanding for 25–36 months, and 2% of principal outstanding for above 36 months |
Table of Contents: HDFC Bank Personal Loan
Features & Benefits of HDFC Personal Loan
HDFC Personal Loan Interest Rate
How to Apply for an HDFC Personal Loan
HDFC Bank Personal Loan Eligibility Criteria
HDFC Bank Personal Loan Documents are required.
HDFC Personal Loan Verification Process
Check HDFC Personal Loan Application Status
How do calculate the HDFC Personal Loan EMI?
HDFC Personal Loan Statement Online
How to Login at HDFC Personal Loan Portal?
HDFC Personal Loan Customer Care
FAQs
Features & Benefits of HDFC Personal Loan
HDFC customers can get HDFC Pre-approved Personal Loan in just 10 seconds and regular loans in under 4 hours
- Get a response within one day of submitting your document.
- Customers have the option of getting personal loan security to cover the outstanding loan amounts.
- Balance transfer option available at interest rates as low as 10.75%
- Get 24x7 assistance for any queries on your personal loans.
- Pre-approved HDFC Bank customer can get funds in 10 seconds.
HDFC Personal Loan Interest Rate
HDFC personal loans are one of the best funding options available in the market right now to finance all your personal as well as business requirements. Find out the updated HDFC personal loan interest rate and apply online instantly for the loan. HDFC Bank personal loan interest rates are affordable, which results in lower EMIs. The current interest rate of HDFC loans starts at as low as 10.75% p.a., depending on the borrower’s credit score, income, age, loan amount, and other eligibility factors.
How to Apply for an HDFC Personal Loan
To apply for an HDFC Instant Personal Loan, you just need to complete a few steps:
- Check your HDFC Loan Eligibility using the calculator.
- If you fulfill the criteria, click on the ‘Apply Now’ button.
- Fill up the form and upload the necessary documents.
- Submit the form and the loan will be disbursed within a few hours of approval.
HDFC Bank Personal Loan Eligibility Criteria
- Indian residents, who are employees of any private limited company or public sector undertaking (central, state or local bodies), can apply.
- Age of the applicant must be between 21-60 years
- The minimum work experience required is at least 2 years, and the applicant must have served with their current employer for a minimum of 1 year.
- The minimum net monthly income required is Rs. 25,000.
- If your credit score is lower than 720, you can bring in a co-applicant (spouse, father, or other eligible co-applicants) to increase your HDFC Personal Loan eligibility.
HDFC Bank Personal Loan Document Required
- KYC Documents
- Passport
- Aadhar Card
- Driving license
- Voter ID card
- Income documents
- Last 3 months Bank Statements/ Passbook of last 6 months
HDFC Personal Loan Verification Process
- Once you have filled the Online Personal Loan Application form on MyMoneyMantra, your personal loan application will be processed by the bank.
- HDFC bank will go through your application form and on being completely satisfied, it will give you a verification call.
- Once the Personal Loan Verification Process is completed, the required documents will be picked up by our personal loan experts from your home or office.
- On submitting all applicable documents successfully, they will be checked for further verification by the bank.
- After verification, the bank will call you to confirm the final loan amount, personal loan interest rate, and repayment tenure.
- Once the bank gets the confirmation from you, the loan amount will be disbursed into your bank account.
Check HDFC Bank Personal Loan Application Status
To check your HDFC personal loan application status online, you will have to follow the below-mentioned steps:
- Enter application name or reference proposal number
- Enter your date of birth or registered mobile number
- Click on the ‘Submit’ button
How to Calculate HDFC Personal Loan EMI?
Calculating your HDFC Bank Personal Loan EMI is easy with the HDFC Personal Loan EMI Calculator available on our website. MyMoneyMantra provides you with a free online EMI calculator, using which you can get the EMI details. The calculator also helps in the assessment of your loan eligibility. You just have to enter a few details, such as the HDFC Personal Loan Interest Rate, loan amount, and tenure, to get the result.
| Loan amount required | Rs. 40 Lakhs |
|---|---|
| Tenure of repayment | 5 years |
| Interest Rate applicable | 10.75% p.a. |
| EMI to be paid each month | ₹85,976 |
| Total interest outgo | ₹11,58,536 |
| Total amount to be paid to the bank | ₹51,58,536 |
Here’s the complete amortization schedule for the above illustration:
| Year | Opening Balance | Amount paid by customer (EMI*12) | Interest paid during the year | Principal paid during the year | Closing Balance |
|---|---|---|---|---|---|
| 1 | ₹40,00,000 | ₹10,31,707 | ₹3,89,686 | ₹6,42,021 | ₹33,57,979 |
| 2 | ₹33,57,979 | ₹10,31,707 | ₹3,18,933 | ₹7,12,774 | ₹26,45,204 |
| 3 | ₹26,45,204 | ₹10,31,707 | ₹2,40,383 | ₹7,91,325 | ₹18,53,880 |
| 4 | ₹18,53,880 | ₹10,31,707 | ₹1,53,176 | ₹8,78,531 | ₹9,75,348 |
| 5 | ₹9,75,348 | ₹10,31,707 | ₹56,359 | ₹9,75,348 | ₹0 |
HDFC Personal Loan Statement Online
You can check your HDFC Personal Loan Statement online easily by logging in to your account to check the details as per your preferred method.
If you have a personal loan account with HDFC Bank, you can check your statement through any one of the following methods:
- Through the online portal.
- Through registered email ID.
The above methods can also be used for HDFC personal loan statement downloads.
How to Login at HDFC Personal Loan Portal?
After you successfully register for a personal loan online with HDFC, follow the steps mentioned below to log in to your HDFC personal loan.
Steps for New Customers
- Visit HDFC ELOANS login portal.
- Enter login ID and password.
- Click on ‘Log In’ tab to avail the various services, including personal loans, offered by HDFC Bank on this online portal.
Steps for Existing Customers
- Visit the net banking portal of HDFC Bank.
- Enter your ‘User ID’ and the click on ‘Continue’.
- Enter your net banking password or IPIN and then click on ‘Login’.
- A web page will appear to change your net banking IPIN when you will login for the first time.
- Change the IPIN and click on ‘Confirm’ tab. The IPIN should be alpha-numeric having 6 to 15 characters.
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Bajaj Overdraft Loan FAQs
If you are a pre-approved HDFC Bank customer, you can get a loan within 10 seconds. For others, here are a few simple steps to follow:
- Check your eligibility for the loan
- Apply for the loan online
- Upload necessary documents
- Get your loan based on the terms in the sanction letter.
- Check your eligibility for the loan
- Apply for the loan online
- Upload necessary documents
- Get your loan based on the terms in the sanction letter.
You can get HDFC Personal Loans within 4 hours if you fulfill all the eligibility criteria. Pre-approved loans are sanctioned within 10 seconds.
Post Dated Cheques or Security Cheques submitted for loan repayment but have not been encashed, will be retained by the HDFC Bank. If you wish to get your old Post Dated Cheques or Security Cheques back, you can request for the same at HDFC’s Retail Loan Service Center/via Phone Banking/ through email within 45 days from the date of requesting a change in repayment mode.
You can pay your HDFC Finance Loan in EMIs through:
- Post-dated cheques
- ECS/ standing instruction to debit EMI amount from your HDFC Bank account
Yes, you can use MyMoneyMantra’s or HDFC’s online EMI Calculator to calculate how much EMI amount you need to pay.
Yes, if you have booked the loan on or after April 1, 2018, it is possible to prepay your Personal Loan from 13 EMIs onwards from the disbursement of the loan. However, part-payment is permitted only twice during loan tenure and once in a financial year. Also, each part-payment should not exceed 25% of the outstanding principal amount.
The additional charges are only applicable if:
- There is any default
- In case of SWAP or change in the repayment mode
Yes, HDFC offers pre-approved Personal Loan to its existing customers. They are eligible to get an instant Personal Loan within 10 seconds of application.
New customers can get a personal loan from HDFC in just 4 hours after a successful application and approval.
You can avail personal loan up to Rs. 40 Lakhs and also Rs. 75 Lakhs as per eligibility norms from HDFC Bank, depending on your income, CIBIL score, and other eligibility factors.
Yes, with SarvSuraksha Pro, you can secure your Personal Loan repayment. The facility has the following key benefits:
- It provides credit protection to cover equal to your outstanding loan amount
- It offers accidental hospitalisation cover of maximum Rs. 8 Lakhs
- The facility provides accidental death or permanent disablement cover of maximum Rs. 1 Lakh
You can pay the EMI on your HDFC Personal Loan using Electronic Clearing Services, Cheque Drop Boxes, or your net banking or phone banking account.
- It provides credit protection to cover equal to your outstanding loan amount
- It offers accidental hospitalisation cover of maximum Rs. 8 Lakhs
- The facility provides accidental death or permanent disablement cover of maximum Rs. 1 Lakh