HDFC Bank Personal Loan: HDFC Personal Loan Interest Rates

HDFC Bank is one of India’s largest private sector banks. It is a new generation bank providing a range of banking and financial services that cater to different customer segments. It also offers a range of services in the loan segment. In this post, let us take a look at HDFC Personal Loan Interest Rates.

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HDFC Personal Loan Interest Rates

HDFC Bank offers the best personal loan option that opens the door to possibilities for you. Whether it is a wedding, a vacation abroad, medical treatment, education for children, or any other payments, make it possible with this loan.

HDFC Bank Personal Loan is one of the best personal loans in India. The application process is not lengthy. It requires minimal documentation. Pre-approved HDFC Bank customers can get a loan within 10 seconds without any additional documentation.

Other bank customers can get this loan with minimum documentation in under 4 hours at attractive interest rates.

HDFC Personal Loan Interest Rate 2020

Personal Loan Interest Rates HDFC Bank varies from 10.75% to 21.30%.

HDFC Personal Loan Overview
HDFC Personal Loan Interest Rate	10.75% – 21.30%
Loan Processing Charges	Up to 2.50% of the loan amount (Minimum of Rs.2,999/- & maximum of Rs.25,000/- for salaried customers)
Loan Tenure	12 months to 60 months
Loan Amount	Rs.50,000 to Rs.40 Lakh
Eligibility Age	Individuals between 21 and 60 years of age

Features and Benefits of HDFC Bank Personal Loan

1. Loan for salaried individuals across corporate and government institutions.

2. Interest Rate for personal loan in HDFC Bank starts from 10.75%.

3. No requirement of collateral or security for availing this loan.

4. This personal loan is offered on the basis your monthly salary and the company you are working for.

5. You can get a loan starting from Rs.50,000 to Rs.40 lakhs.

6. Loan tenure is 12 months to 60 months.

7. You can apply online for this personal loan in just a few clicks.

8. You can check your eligibility in one minute online and at select branches.

9. Get your loan within 10 seconds if you are a pre-approved HDFC Bank customer. Other can get a loan in under 4 hours.

10. HDFC Bank customers can benefit from special interest rates.

11. Get a customized offering for you, no matter why you need a loan.

12. You can lower your loan EMIs by transferring the existing loan to HDFC.

13. You can protect yourself with insurance facility.

14. For any help with your loan, you will get assistance anytime, anywhere via SMS, Webchat, Click2Talk, and PhoneBanking.

15. The first-time loan customers also get a host of benefits from HDFC.

Interest Rate HDFC Personal Loan

Personal Loan Interest Rates in HDFC Bank varies from 10.75% to 21.30%. However, personal loan HDFC interest rates provided to an individual depends on multiple factors like loan tenure, age, credit score, repayment capacity, employment, relationship with the bank, etc.

HDFC Bank Loan Calculator

Click here for HDFC Bank Personal Loan EMI Calculator. The HDFC Personal Loan EMI Calculator is designed to be easy-to-use and intuitive. This calculator will help you to figure out the monthly instalments on your loan.

When you take a loan, the EMI is a key factor in deciding the loan amount and tenure. The HDFC Personal Loan EMI Calculator helps you instantly calculate your EMI and, therefore, plan your loan and repayment better.

Eligibility for HDFC Bank Personal Loan

The following people are eligible for this loan.

1. Employees of central, state, public sector undertakings, private limited companies, and local bodies.

2. Individuals who are between 21 and 60 years of age.

3. The individuals should have had a job for at least 2 years, out of which a minimum of 1 year with the current employer.

4. Individual who have HDFC Bank Salary account and earn a minimum of Rs.25,000/- per month.

5. Individuals who are Non HDFC Bank Salary account holder should have a minimum of Rs.50,000/- per month.

Documents required for HDFC Bank Personal Loan

HDFC customer who is already a KYC-compliant could get a loan with no documentation. Documents required for salaried are given below:

1. Identity proof (copy of voter ID card, driving license, Aadhaar card or passport).

2. Address proof (copy of voter ID card, driving license, Aadhaar card or passport).

3. Last three months Bank statement or last six months passbooks.

4. Latest salary slip or current salary certificate with the latest Form 16.

5. Proof of End use.

How to get HDFC Bank Personal Loan?

You can get it in 5 easy steps as given below.

1. First of all, you need to determine how much loan you need.

2. Check your eligibility for a loan by visiting HDFC Personal Loan eligibility calculator online. Click here to check eligibility online. The bank offers loans up to Rs.40 lakhs.

3. Calculate approximate monthly installments on Personal Loan EMI Calculator.

4. Apply for a personal loan with HDFC Bank in various ways: Through NetBanking, online on the HDFC website, at an ATM or by visiting a branch.

5. Submit copies of loan documents at the bank. After all this, just wait for the money to be remitted to your account.

6. If you are a pre-approved customer then the bank usually disburses loan within 10 seconds. Non-HDFC Bank customers can get this personal loan in 4 hours.

7. This is how you get this loan. Now, make your dreams come true.

How to check HDFC Bank Personal Loan Status?

You can check up on your HDFC Personal Loan Status using “Track Application” online facility. Click here to check your loan status.

HDFC Personal Loans Rate of Interest & Fees

Mentioned below are HDFC Bank Personal Loan Interest Rates & Charges

1. Personal loan interest rates for HDFC Bank for salaried is 10.75% to 21.30%.

2. Loan processing charges for salaried customers are up to 2.50% of the loan amount (Minimum of Rs.1,999/- and maximum of Rs.25000/-).

3. Prepayment in part or full for salaried – Prepayment in part or fully allowed only after 12 EMIs. Part payment allowed up to 25% of principal outstanding only once in a financial year and twice during the entire tenure.

4. Prepayment and part payment charges for salaried is 4% of Principal Outstanding between 13-24 months, 3% of Principal Outstanding between 25-36 months, 2% of Principal Outstanding for more than 36 months.

5. Loan closure letter – Nil

6. Duplicate loan closure letter – Nil

7. Solvency certificate – Not applicable.

8. Charges for changing from floating to fixed rate of interest – Not Applicable.

9. Stamp duty and other statutory charges as per applicable laws of the state.

10. Non standard repayment charges – Not applicable.

11. Credit assessment charges – Not applicable.

12. Charges for late payment of EMI is 2% per month on overdue amount.

13. Cheque swapping charges are Rs.500/-.

14. Amortization schedule charges are Rs.200/-.

15. Loan cancellation charges – Nil

16. Legal/incidental charges – At actual

17. Charges for cheque bounce are Rs.550/- per cheque bounce.

HDFC Bank 24X7 Assistance Anywhere

You can reach out to bank for any help with your loan via WhatsApp no – 7065970659, Webchat, Click2Talk and PhoneBanking.

Why you should choose HDFC Bank Personal Loan?

The following are few reasons for choosing HDFC Bank for a personal loan.

1. Pay back the loan in pocket-friendly EMIs.

2. HDFC Personal Loan interest rates are affordable and competitive.

3. Flexibility to pick a tenure, ranging from 12 to 60 months.

4. Check loan eligibility in one minute.

5. Disbursal of the loan in 10 seconds.

Final Thoughts

I hope now you know how to get HDFC Bank Personal Loan. The loan application process is quick, hassle-free and requires minimal documentation. Personal Loan Interest Rates of HDFC Bank varies from 10.75% to 21.30%. You can customized it to suit your every need. You can apply for an HDFC Personal Loan online in a few quick and easy steps.

Note: This post was originally published on May 18, 2019 and has been completely updated for accuracy and comprehensiveness.

Related post: HDFC Credit Card Netbanking