HDFC Personal Loan Features 2023
|HDFC Personal Loan Interest Rate||10.50% p.a.|
|HDFC Personal Loan Processing Fee||Up to 2.50% of the loan amount is subject to a maximum of ₹ 25,000/- for salaried customers|
|Tenure||12 to 60 months|
|Lowest EMI per lakh||₹ 2124|
|Prepayment Charges||Salaried – No pre-payment in Part or Full permitted until repayment of 12 EMIs Part-payment allowed up to 25% of Principal Outstanding. It is allowed only once in the financial year and twice during the loan tenure.|
|Part Payment Charges||Salaried- 13-24 months – 4% of principal outstanding,25-36 months – 3% of principal outstanding>36 months – 2% of principal outstanding|
|Min Loan Amt||₹ 50,000|
|Max Loan Amt||₹ 40 Lakh|
- HDFC Personal Loans at interest rates as low as 10.50% p.a.
- The flexible loan tenure starts rom 12 months to 60 months.
- The prepayment and part payment of the loan allowed after 12 months with a charge of 2-4% of the loan amount.
- You can easily avail the loan amount as low as ₹ 50,000, and the maximum loan amount HDFC has to offer is ₹ 40 Lakh; thus your all financial needs could be covered easily.
- The processing fee applicable to the HDFC personal loan is 1% of the loan amount.
- The lowest EMI is ₹ 2124 per lakh.l
Benefits of HDFC Bank Personal Loan via National info Partners
- Honest Advice: If one has queries or needs assistance, our channel partners of finance experts will guide them, coordinate with the concerned financial institutions (Banks/NFBCs) and suggest a plan that is the best and most profitable for them.
- Our Process is transparent and Quick: As an online platform, we offer fastprocesses altogether. One can get the best loan plan from the comfort of their home with fewer paperwork.
HDFC Personal Loan Balance Transfer Rates
|Income||IRR (For Those Having HDFC Bank Salary Relationship) (In Per Annum)||Processing Fee (For Those Having HDFC Bank Salary Relationship)||IRR (For Those Having Non-HDFC Bank Salary Relationship) (In Per Annum)||Processing Fee (For Those Having Non-HDFC Bank Salary Relationship)|
|NTH>=50,000||10.75%||INR 999||10.75%||INR 1499|
|NTH>=35,000||11.49%||INR 999||11.49%||INR 1499|
|NTH<35,000||13.25%||INR 999||13.25%||INR 1499|
HDFC Personal Loan Rate of Interest
HDFC Bank Personal loan interest rates vary from 10.50% to 22.00%, with the lowest rates offered to the existing customers of the bank with a strong CIBIL Score and those working with reputed corporate with a stable employment history.
HDFC Bank also provides special schemes for defence, armed forces, and government employees. The personal loan interest rate for government employees and defence personnel is different from private salaried employees.
HDFC Bank Personal Loan Details:
|Interest rate:||10.75% to 21.30% Per Annum|
|Amount of Loan:||Rs 50,000 – Rs 15,00,000 *|
|Advantages:||Disbursement within 30 seconds for pre-approved clients and within 5 hours for other applicants.Documentation required is negligible.Insurance is available|
*Eligibility of the loan is at HDFC’s Bank discretion, and the amount can differ
- The Lowest per Lakh EMI from HDFC bank for a personal loan is Rs 2,149 for the lengthiest period of 60 months at the lowest interest rate of 10.50%.
- Both Salaried and self-employed professionals can avail of a personal loan.
- Age Range for borrowers: 21 years – 60 years.
- Tenure of the loan: 12 months – 60 months.
- Processing charge: Minimum Rs 1,999 Upto 2.50%
- Pre-Payment charges: Foreclosure is allowed with a 2-4% charge
- Part-payment charges: 2-4%
How is HDFC Personal Loan different?
HDFC Bank offers personal loans for a range of financial needs, both personal and professional. Here are a few of the main reasons why HDFC bank personal loan stands out from the crowd:
- Documentation is minimum: Personal loans from HDFC Bank are created with the customer’s convenience in mind.
- Attractive interest Rates: HDFC personal loan interest rates are among the lowest in the market, with a starting interest rate of 10.40 per cent per annum.
- Special Offers for Women Applicants: HDFC Bank has a specific plan called the Personal Loan Diva Scheme for women who want to apply for a personal loan. A woman candidate under this plan is eligible for pre-approved personal loans up to INR 3 lakh and access to a variety of premium brands and items.
- Free Insurance Coverage: HDFC Bank personal loans include private accident insurance of up to INR 8 lakh and critical illness insurance of INR 1 lakh at no additional cost.
Turn Around Time of HDFC Bank Personal Loan
|Salary below Rs. 75,000||5 – 7 working.|
|Salary above Rs. 75,000||working days (48 hours)|
Salary available for making EMI’s
|Up to Rs. 25,000 p.m||35% of salary is considered|
|Bet Rs. 25,000 to Rs. 50,000 p.m.||40% of salary is considered|
|Above Rs. 50,000 p.m||45% – 50% of salary is considered|
HDFC Personal Loan Status
Now stay updated with the status of your loan. Simply just enter the required details and keep track of it at any stage. Just by entering the Applicant Name, Proposal Number, or mobile number, you will simply stay updated with your loan status.
HDFC Personal Loan Eligibility Criteria
The eligibility criteria for a personal loan are as follows:
|CIBIL Score Criteria||750 and Above|
|Age Criteria||21-60 years|
|Income Criteria||₹ 25000/month|
- A person could be self-employed or a job holder. But the income needs to be ₹ 25000 a month.
- The applicant’s minimum age needs to be 21 years, and the maximum could be 60 years.
- The credit score should be as high as 750 and more.
HDFC Personal Loan Fees and Other Charges
|HDFC Bank Personal Loan Interest Rate||10.50% per annum|
|HDFC Bank Personal Loan Processing Fee||1% of the loan amount|
|Min ₹ 1000 and Max ₹ 25000|
|Prepayment||No prepayment is allowed until 12 EMIs are paid|
|Pre-closure||No foreclosure is allowed until 12 EMIs are paid|
|Prepayment Charges||13-24 months: 4% of loan principal outstanding|
25-36 months: 3% of loan principal outstanding
>36 months: 2% of loan principal outstanding
|Stamp Duty||As per state laws|
|Cheque Bounce Charges||₹ 550/cheque + GST|
|Floating Rate of Interest||Not Applicable|
|Overdue EMI Interest||2% p.m.(on overdue amount)|
|Amortization Schedule Charges||₹ 200 + GST|
There are various charges appplicable to HDFC personal loans. The stamp duty is applicable as per state laws. While the floating rate of interest is not applicable. If the EMI is overdue, one needs to pay overdue EMI interest, which is 2% per month on the overdue amount. The Amortization Schedule Charges are ₹ 200 including GST. The maximum processing fee chargeable on HDFC personal loan is ₹ 25000, and the minimum processing fee is ₹ 1000. The processing fee is 1% of the loan amount taken from the bank.
HDFC Personal Loan Documents Requirement
|Form||Duly filled application form|
|Proof of Identity||Copy of:|
|→ Driving License|
|→ Aadhar Card|
|→ Voter ID Card|
|Proof of Address||Rent Agreement (Min. 1 year of stay)|
|Passport (Proof of permanent residence)|
|Proof of Income||→ ITR: Last two Assessment years|
|→ Salary Slip: Last 6 months|
|→ Bank Statement: Last 3 months|
HDFC Personal Loan EMI Calculator
HDFC Personal Loan Comparison with Other Banks in 2023
|Bank||Interest Rate||Tenure||Loan Amount & Proc Fee|
|HDFC Bank||10.50% to 21.50%||12 to 60 months||Up to Rs. 40 lakh / Up to 2.50% of the loan amount|
|Bajaj Finserv||Starting from 12.99%||12 to 60 months||Up to Rs. 25 lakh / Up to 3.99% of the loan amount|
|Axis Bank||10.49% to 24%||12 to 60 months||Rs. 50,000 to Rs. 15 lakh / Up to 2% of the loan amount|
|Citibank||Starting from 10.99%||12 to 60 months||Up to Rs. 30 lakh / Up to 3% of the loan amount|
|ICICI Bank||11.50% to 19.25%||12 to 60 months||Up to Rs. 20 lakh / Up to 2.25% of the loan amount|
The Interest Rates, loan amount, and tenure and processing fees differ from bank to bank*.
Other Loan Products from HDFC Bank
Why us for HDFC Personal Loan?
Our Channel partners help you choose the option of banks by providing you with the updated market comparison of different banks to make the right choice. Our Channel partners have already helped thousands of people to get the loan they need without any issue, and we look forward to continuing in doing so. Apply with us today to get the offers and special deals on HDFC Bank Personal Loan.
Leave us a message on our fb page to avail of HDFC Bank Personal Loan.
How to Calculate EMI for HDFC Personal Loan
You can easily calculate your EMIs on your HDFC personal loan using;
- Amount of the Loan
- Rate of Interest
Just put these values in the calculator below to find the exact amount payable each month.
HDFC Personal Loan Processing Time
HDFC Bank norrmally takes 2 weeks or 15 days for Processing of Personal Loan Applications. However, HDFC Bank approves the loan in just a few hours to a maximum of 1-3 days to its preapproved already existing account holders.
HDFC Personal Loan Preclosure Charges
HDFC Bank gives you the option of pre-closing your Personal Loan after a minimum of 12 months of taking the loan and paying 12 successful EMIs on your Personal Loan. However, HDFC Bank charges a Prepayment or Pre-closure charge.
Documents Required for Preclosure of Personal Loan
Generally, the following documents are required to foreclose your HDFC Bank personal loan:
- A valid photo identity proof
- Loan Account Statement
- Cheque/ demand draft/ cash to make the payment
HDFC Personal Loan Foreclosure Benefits
Given below are a few key benefits of foreclosing your HDFC Bank personal loan:
Foreclosure / Full Prepayment
- Helps you save on the overall interest payout.
- Frees you from the burden of regular loan repayments.
- It enables you to save on the interest component.
- You also have the advantage of either paying a reduced EMI amount or having a shorter loan tenure.
HDFC Bank Prepayment Facility
HDFC also offers a prepayment facility to help the customers pay off the entire outstanding or a part of it. If you have a surplus amount of money in hand and meeting the below criteria then you can pay a part of your principal outstanding amount to reduce the same. This will also help in saving interest accrued on the principal amount. Know more about this facility below.
- Prepayment will be allowed subject to the successful payment of the first 12 EMIs
- Prepayment will be allowed a maximum of twice during the entire tenure of the loan
- Prepayment is allowed only once a year
- At any point in time, the prepayment will not exceed 25% of Principal Outstanding
Charges to be paid on Prepayment
- 13-24 Months – 4% of the outstanding loan balance
- 25-36 Months – 3% of the outstanding loan balance
- More than 36 Months – 2% of the outstanding loan balance
Pre Calculated EMI for HDFC Personal Loan
|Rate||5 Yrs||4 Yrs||3 Yrs|
*Note – All EMIs are calculated for a Loan Amount of Rs. 1 Lakh.
HDFC Personal Loan for Salaried Employees
HDFC Bank offers Personal Loan for Salaried Employees at attractive rates of interest. The amount that you get a loan depends on the Company that you work for, The take-home salary of the employee, and the city of residence of the employee. HDFC Bank offers these loans for a tenure of 12-60 months and provides instant approval along with funds to pre-approved customers.
HDFC Personal Loan for Self Employed Individuals
HDFC Bank’s Personal Loan for Self Employees is a loan product offered to self-employed individuals and in need of funds. HDFC provides them with attractive rates of interest on their personal loan and tenure of 12-60 months. But, as compared to Salaried Employees, you have to present more documents here as you need to provide the bank with sufficient documents related to your business to prove its continuity as well as your steady income.
HDFC Personal Loan for TCS Employees
- Exclusive personal loans with a reasonable interest rate of 11.25% p.a.
- EMI for personal loans starts at Rs.2178 per lakh when terms and conditions are met.
- The hassle-free documentation process for TCS employees.
- Pre-approved personal loans for eligible TCS employees.
- Interest rate starting at 11.99% p.a for superbike loans.
- Great offers on home loans with an interest rate of 9.45% p.a and discount interest rate for women at Rs.9.40% p.a.
HDFC Bank Moratorium Process
The process to stop your loan EMIs at HDFC Bank is as follows-
- Visit the HDFC Bank website or use the mobile app
- Click on the link where the option of moratorium period is popping out
- On the application page, mention your registered mobile number, name, email address
- After that enter your date of birth and select the type of loan
- Enter your loan number and mention your EMI amount
- Then make a decision and choose a suitable service
- Click on the EMI deferment option that says I agree to pay the accrued interest on the outstanding balance
- Click on the ‘Submit’ button
- The bank will check the details thoroughly and process your moratorium request
- You’ll be given a reference upon the successful completion of the process. on your registered mobile number and email address
But, if you don’t want to defer EMI, you must click on the second option after the deferment option. This will ensure EMI payments as scheduled with no extra interest charged on it and select the defer option if your answer is yes otherwise your EMI debited as it was doing in the past. HDFC Bank representatives can also get in touch with you via WhatsApp or call regarding the moratorium process.
HDFC Bank Personal Loan Special Pricing
If a customer is looking for INR 15 lakh of the loan amount or more than that below rates would be applicable.
|Loan Amount||IRR||Processing Fee (+GST)|
|Loan amount >=15 lakh*||10.50%||INR 3999|
*Terms & conditions apply
This offer is not applicable for Top-up/ Enhancement/ Existing loan amount closure.
If a customer is looking for a Balance transfer and a fresh loan of above INR 10 lakh above, the below offer is available.
|NTH||Loan Amount||IRR||Processing Fee (+GST)|
|>=50000||Loan amount >=10 lakh*||10.50%||INR 3999|
*Terms & conditions apply
- Not applicable on Existing loan closure
- Not applicable for Credit card BT
How to Manage Personal Loan?
Here are the 4 tips that will help you manage your loans:
1. Repay On Time
The first step is to avoid late fees and penalties. The best way to do that is by paying your monthly payments on time every month. This also hits the credit score. These are needless and all too common consequences that will work against your financial condition.
If you have just taken a personal loan or are about to, the best way to manage your loan is by making a monthly payment on your loan as soon as you receive the loan. By being a payment ahead of your installment plan you will have a buffer against a missed payment.
2. Repay More Than Your Minimum
Paying beforehand is a good option for managing your plans but paying a little extra every month keeps you ahead of your loan term and provides you with some other financial bonuses.
Also, paying extra on your loan reduces the length of the repayment plan. This will help you clear the debt and allows you to regain your financial independence sooner. It will also reduce the rate of interest you owe and thus, saving you money in the long run. Paying off your debts faster also leads to an improvement in your credit score. A lower credit score will benefit you in several ways, like dropping down payments and rate of interest.
3. Consolidate Your Loans
For debtors managing multiple personal loans, consolidation could be the best way to simplify your debt repayment. Debt Consolidation is when you take a large loan to repay all the other loans you have taken. So, instead of paying multiple lenders every month with different rates of interests and needs, one can make a single payment to one provider. Debt Consolidation is helpful if you can save an interest rate on a new loan that is lower than the average interest rate of the earlier loans.
The only disadvantage that lies here is that one will likely end up having to reimburse the debt quicker than before. Before consolidating your debt, make sure that you can make the payments on a new loan. This may also help to reimburse large portions of your loans on credit rather than with a single loan, consolidating it into more controllable pieces.
4. Credit Score
Last but not the least, always keep a close watch on your credit score while reimbursing a personal loan. The credit score plays a major role in finances and has an important relationship with the loans taken out. How you manage your loans is reflected in your credit score. On the other hand, falling behind on your payments will subordinate the credit score. Thus, a higher credit score is important.
Different HDFC Bank Personal Loan offers
HDFC Doctor Loan
HDFC Bank offers special Personal Loans to Doctors who require funds. Bank gives them loans ranging from Rs. 50000 to Rs. 50 lakhs for a tenure of 12-60 months at interest rates starting from 11.25%. There are certain eligibility criteria’s for availing of this loan:
- The credit score should be at least 650.
- Age should be 25-65 years.
- Medical Experience – More than 4 years (as a doctor).
HDFC Marriage Loan
HDFC Bank offers Personal Loan for Marriage to solve people who are facing a shortage of funds for their or their close one’s marriage. There is no restriction on using this loan amount and can be used for anything from wedding banquets to makeup or stylists, etc. You get these amounts quickly within seconds if you are a pre-approved customer with the bank or as quickly as 4 hours in some cases. The bank charges an attractive interest rate and gives you the option of choosing the loan tenure.
HDFC Personal Loan for Government Employees
To fulfil the individual requirements of all the public authority workers, HDFC is here. The moneylender offers individual credit to the representatives of public area endeavours, including Central, State, and Local Bodies. The base net month to month pay of a worker should be INR 15,000/20,000 to profit the greatest advance measure up to INR 40 Lakh. The individual advance offered by the HDFC bank accompanies a residency of 5 years alongside a handling expense of 1.50% of the advance sum.
HDFC Personal Loan Offers for Government Employees:
|Offers By Government||Number of Companies||Processing Fee(% of the Loan Amount||IRR|
|Miniratna, Navratna, and Maharasthra||55||1.50%||13.49%|
|Employees from the Railway Department||All||1.50%||16.50%|
|CISF, CRPF, ITBP, SSB and BSF||All||1.50%||14.75%|
State and Central Government Officers:
|Government Officer Division A (GA) and Division B (GB)||NTH>24k||2%||16.75%|
HDFC Personal Loan for Pensioners
HDFC Bank offers special plans for Pensioners looking out for Personal loans. They provide good funding at attractive rates of interest to pensioners. Some of the features of HDFC Bank Personal Loan for Pensioners are listed below:
- Minimum Pension Amount – 25000+
- Maximum age – 65 years at loan maturity
- 50% of extra income (FD interest rental income, etc.) can be counted as Actual Income
- HDFC Bank Personal Loan Interest Rate – 9.99%
- Tenure – a minimum of 12 months
HDFC Personal Loan Balance Transfer
Personal Loan Balance Transfer implies to a process where you shift your personal loan from one lending institution to another. In this, your new bank pays off your previous loan and gives you the loan. You get many benefits if you do this, but you may have to pay the foreclosure charges associated with that loan along with the Processing fee on your new loan. Some of the benefits are listed below:
- Lower Interest Rate
- Extended Tenure for the Repayment
- You may also get additional features associated with your loan, such as no processing fee, etc., based on your Cibil score.
HDFC Personal Loan Top Up
Top up facility on your loan is the additional amount you borrow from the bank on your existing loan. HDFC Bank lets you avail of this facility if you have paid at least 9 regular EMIs without any hindrances in payment. You can get a top-up of a minimum of Rs 50,000 and a maximum of your already sanctioned loan amount.
- You can use a top-up loan only after a certain amount of loan has been repaid in a specific period.
- One should be financially stable with a long-term job and income source. These are essential characteristics to determine one’s repayment ability.
- A healthy credit/ CIBIL score is preferred because it shows good creditworthiness.
Offline Application process:
Borrowers can avail of HDFC Bank’s Personal loan in person by following a simple process mentioned below:
- Visit the nearest branch of HDFC Bank and fill in the application form, loan amount needed, and personal details.
- One would be briefed about the eligibility criteria, loan rates, along with terms like processing charges, prepayment and foreclosure clauses.
- After going through the above steps and submitting the required documents, one would be provided with an application reference number (ARN). This unique number is used to track the status of the loan application.
- After successful verification, loan sanction and agreement, the loan amount is disbursed within a short period, usually within seconds.
HDFC Bank Personal Loan Overdraft Scheme
HDFC Bank Personal Loan Offers an Overdraft Scheme. With this, you are provided a loan amount as an overdraft facility. It works like a Credit Card, where you can spend your Personal Loan Amount as you want anytime anywhere. The overall loan amount will have a Credit/Loan Limit. In the HDFC Personal Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize
HDFC Home Renovation Loan
Home renovation now tops the priority list for most borrowers, but funds become an obstacle in the process. HDFC Home Renovation Loan is introduced to get your home refurbished whether it is repainting or tiling HDFC loan covers it all. The key highlights of the HDFC home renovation loan are as follows:
- The home renovation loan schemes and policies include basic documentation and no-complexity.
- The HDFC Home loan is available for both existing and new customers.
- This individual unsecured loan is available at least an interest rate of 8.00% p.a.
- The loan processing fee is charged at a favourable rate of 0.50% along with added tax.
HDFC Bank Holiday Loan
A holiday loan is nothing but a credit taken against your travelling expenses and lodging services required to add to your get-away. You can check the characteristic features of the holiday loan to approve funds for your exotic dream vacation simply:
- HDFC Bank assures instant disbursal of the loan advance for your holiday fun.
- The processing fee is charged at a minimal rate.
- The interest rate applicable to the Holiday Loan is 11.25% and so on.
HDFC Bank Fresher Funding
HDFC has accelerated in the world of credit which now has introduced a new category of HDFC Freshers Funding. This special type of loan is accessible to those applicants who are graduates and newly minted professional employees who are seeking funds to establish a stable future. The following are the key features that the HDFC Freshers Funding exhibit:
- A favourable credit sum is provided to the applicants.
- The candidate must be 21 years of age or more.
- The interest rate charges are dependent on the applicant’s profile.
HDFC Bank Personal Loan for NRI
For many valid reasons, people tend to move out, including education, medical facility, job, etc. For such candidates, financial expenses become an obstacle; such emergency personal expenses are looked after by the special loan category called HDFC NRI Personal Loan. The important features of the individual loan are as given below:
- Highly competitive rates and flexible repayment tenures for the applicant.
- No collateral or security is demanded or the advance disbursement.
- The document proof must be attached for both the Indian resident (primary borrower) and the NRI candidate (co-applicant).
HDFC Personal Loan Preclosure Online
HDFC Bank enables a Personal loan borrower to make a pre-closure or a pre-payment of a loan. However, you will be able to prepay your HDFC Personal Loan only after 12 months after you have procured your loan and after paying 12 EMIs plus the foreclosure charges that may be applicable. If you meet this requirement, you can repay your personal loan before the original due date and close your loan early.
HDFC Personal Loan Process Steps
Step 1: Determine your requirement.
Figure out why you need a Personal Loan and how much you need. For example, you may need a loan to fund your wedding or to renovate your home. And you may need just Rs. 1 lac or Rs. 10 lac.
Step 2: Check loan eligibility
Once you know how much you need, you should check whether you are eligible. You can visit the HDFC Bank Personal Loan Eligibility Criteria online, to find out how much you can borrow as a Personal Loan. HDFC Bank offers loans up to Rs. 40 lac.
Step 3: Calculate monthly instalments –
Use an online EMI tool to calculate your approximate loan repayments every month. You can modify the interest rate and tenure to match your monthly income, like on the HDFC Bank Personal Loan EMI Calculator. HDFC Bank offers pocket-friendly EMIs on all its Personal Loans starting at Rs. 2149 per lac * (T&C).
Step 4: Approach the bank –
You can apply for a Personal Loan with HDFC Bank in various ways: Via Net Baning, online on the HDFC Bank website, at an ATM, or by visiting a branch.
Step 5: Submit documents -.
Next, find out what documents are required for a Personal Loan. You will usually need income proof (bank statements, salary slips or IT returns), address proof, and ID proof. Hand over copies of your Personal Loan documents at the bank.
Wait for funds to be remitted to your account. HDFC Bank disburses funds for pre-approved loans to customers in 10 seconds*, and for non-HDFC Bank customers in 4 hours*.
That’s how to get a Personal Loan in 5 easy steps!
HDFC Personal Loan Prepayment Charges
If you are a salaried applicant, you can pre-pay your HDFC Personal Loan only after paying 12 equated monthly instalments completely.
The pre-payment charges for salaried applicants are as follows:
- 4% of the outstanding principal amount for 13 to 24 months.
- 5% of the outstanding principal amount for 25 to 36 months.
- 2% of the outstanding principal amount for more than 36 months.
How to Apply Online for HDFC Personal Loan with us?
You can apply for HDFC Bank’s Personal Loans online by visiting the HDFC Bank’s online portal and filling the form for applying for a personal loan, or you can simply follow the given steps for applying for an HDFC Bank Personal Loan:
- Visit us at HDFC personal loan page.
- Provide us your name,number and email with your need.
- Wait for a call from one of our Relationship Managers who are experts in this field.
- Get personalized service to avail Personal Loan by comparing between features of various banks and selecting the one you need.
The Personal Loan Verification Process
The following steps are a must after you apply for HDFC Personal Loan, which is as mentioned below:
- As soon as you complete the application procedure with Dialabank, your application for a Personal Loan is further proceeded by the Bank.
- As the bank verifies your application form, they give you a verification call.
- Now when the verification on a telephonic conversation is done, the bank schedules a pick up for document submission.
- Once all the required documents are attached, further verification takes place.
- As the second verification passes the bank confirms the final loan amount, interest rate, and the tenure for the mentioned amount.
- The bank patiently waits for the customer’s affirmation, and once the customer confirms, the loan amount is instantly disbursed.
Check Your HDFC Personal Loan Application Status
The HDFC Personal Loan application can be tracked in simple, easy steps as follows:
- The offline method applies, the applicant has to visit the bank branch and update the application status.
- From the HDFC Online website, submit your name and reference proposal number.
- Submit the request, and you will receive an update regarding your Personal Loan.
- Via the mobile application, the loan application can easily be tracked.
How to Login to The HDFC Bank Portal
- Navigate through the HDFC Website.
- Log in with your HDFC log in ID and Password.
- Hit the login key and get access to the bank portal easily.
HDFC Personal Loan Statement
- Visit the official website of HDFC Bank.
- Navigate through the page and click on the “Register New Loan”.
- Fill in all the required details.
- Now click on the submit key.
- After which you will receive an OPT that will direct you to register for Loan Statement.
HDFC Bank Personal Loan Restructuring (COVID-19)
Amid the stress of COVID-induced lockdown, The HDFC Bank took an initiative to lessen its borrowers’ burden. The bank mandated the RBI moratorium that ended in September. Subsequently, all the borrowers were anticipated to resume back to the previous EMI schedules. However, the borrowers were still in mayhem to repay the outstanding with ongoing financial crunches. Considering the adverse situation, HDFC introduced a new framework that supports the cause of its borrowers permissible by the RBI.
The relief framework is aimed at destressing the borrowers by plummeting financial stress. This new framework gives the borrower liberty to extend the repayment tenure up to 2 years at certain consequences. The extended relaxation will welcome an added interest rate on the outstanding amount, and thus, the loan will be termed as “Restructured” in the beneficiary’s credit report. Resulting in a remark on the borrower’s credit score, thus, the borrowers are advised to opt for the mechanism in most unfavourable circumstances; otherwise, the repayment schedules must pick up the threads as before.
HDFC Personal Loan Customer Care
- Via Phone: The customers get in touch with the bank via call on 9878981166.
- Via Chatbox: The chatbox is open for any suggestion or query on the official site.
- Branch Visit: The applicant can visit the bank branch for any information on loan approval.
How to get the best offer on HDFC Personal Loan?
You can get the best personal interest rates from HDFC Bank subject to an assessment of your loan amount, salary, other obligation company you work with, and loan tenure. The following factors determine the personal loan rate of interest you can expect to get from HDFC:
- Loan Amount – This is the amount borrowed by a borrower from the bank. Generally, banks offer lower interest rates for higher amounts. HDFC Bank offers loans between ₹ 50,000 and ₹ 75 Lakh.
- Salary – Income defines your capacity to repay the loan. Higher salary bracket individuals are offered loans at lower interest rates. The interest rate of the bank varies with your net monthly income.
- Employer Category – HDFC Bank has an internal list of companies falling into categories that are ranked from high to low company categories based on the company’s size, reputation, and existing relationship with the bank. Employees who belong to companies in higher company categories get attractive discounts and low-interest rate loans.
- Relationship with the Bank – HDFC Bank offers special rates, offers, and charges to the existing account holders of the bank. Those who have managed their accounts and made all the payments on time in the past will get the benefit of a low HDFC Bank loan interest rate.
- Loan Tenure – Personal loans are of shorter tenure ranges from 12 months to 60 months as they are taken to meet their immediate requirements.
- Repayment Capacity – Before giving a loan to the borrower, HDFC Bank checks the repayment capacity of the borrower. Bank verifies the repayment capacity of the customer through CIBIL as it has the repayment track record of previous loans taken. CIBIL also captures information on credit card bills payment.
How does HDFC Bank Personal Loan Work?
Here is the process:
|Maximum Annual Percentage Rate (APR)||11% to 22.5%|
|A representative example of the total cost of the loan, including all applicable fees||Here is an illustration of the total cost of the loan:Total amount borrowed: ₹ 1,00,000Time period: 12 Months to 60 MonthsHDFC Bank Personal Loan Interest Rate: 10.50% to 22.00%Processing Fee payable to Upto ₹ 2,500Fee payable to MyLoanCare: NILTotal Monthly Cost – From ₹ 2,149 for 60 Months ₹ 1,00,000 loan at 10.50% (lowest rate, longest time period) to ₹ 9,359 for 12 Months ₹ 1,00,000 loan at 22.00% (highest rate, shortest time period). This is inclusive of principal repayment.Annual Percentage Rate (APR) of charge including all applicable fees: 11% to 22.5%Total cost payable over loan tenure: ₹ 8,278 for 12 Months loan to ₹ 31,463 for 60 Months loan|
How to get fast loan approval for HDFC Personal Loan?
The mentioned below are a few points that should be taken into consideration before you apply for a Personal Loan:
- It is advisable to keep the loan amount as minimum as possible. Since the repayment of a lesser amount is easy and brief. The applicant’s repayment capacity is of utmost importance while applying for a Personal Loan so the loan amount should be availed as per the requirement rather than availing a higher loan amount due to its easy availability.
- The credit score determines if the applicant is eligible for the given credit, so it is recommended to look over the Credit Score before pitching a Loan application. In most scenarios, a weak credit score only leads to a straight rejection of the application.
- Go for the bank or institution offering the best in class service and interest rate for the loan amount you require. Compare and analyze before settling for one bank. In the Credit World, the banks offer competitive interest rates and tenures for the loan amount, so a second look into the banks will only benefit you.
HDFC Bank Personal Loan Help Line Numbers
- One can call on HDFC Bank customer care number 1800-258-3838 (toll-free number).
- Alternatively, one can reach out to customers executives working in their city by calling these numbers:
|Delhi and NCR||011-61606161|
NRIs can contact:
One can write to the bank at HDFC Bank Ltd., Empire Plaza I, 1st Floor, LBS Marg, Chandan Nagar, Vikhroli West, Mumbai – 400 083, or visit the nearest branch of HDFC Bank
FAQ HDFC personal loan
You can apply for an HDFC Bank personal loan in multiple ways:
- Visit the nearest HDFC Bank branch.
- Apply online on the HDFC Bank website.
- Choose the smart way and apply with our partners for the lowest interest rates.
We give you a convenient option to apply from anywhere and anytime.
What is the Interest Rate for HDFC Bank Personal Loan?
HDFC Bank Personal Loan Interest Rate is 9.99% per Annum.
What is the minimum age for getting a Personal Loan from HDFC Bank?
You need to be a minimum of 21 years old to apply for an HDFC Bank personal loan.
What is the maximum age for getting a Personal Loan from HDFC Bank?
The upper age limit for HDFC Bank personal loan is 60 years at the time of loan maturity.
What is the minimum loan amount for HDFC Bank Personal Loan?
The minimum loan amount for HDFC Bank Personal Loan is Rs 50000.
What is the maximum loan amount for HDFC Bank Personal Loan?
HDFC Bank allows you to borrow a maximum loan amount of Rs. 75 lakhs under their personal loan schemes.
What is the HDFC Bank Personal Loan overdraft scheme?
For simplifying the process and providing you with a hassle-free service while processing an overdraft scheme at HDFC Bank Personal Loan is provided, it gives you an online way to get your own overdraft, also known as Smartdraft – Overdraft Against Salary.
You do not need to visit bank branches and go through a boring process. Just log in to the HDF online banking portal and from there you can fill out a simple form and get an overdraft under your name.
What is HDFC Bank Personal Loan closure procedure?
- Just go to the bank with the documents.
- Write a letter for pre-closure of the HDFC Bank Personal loan account.
- Pay the pre-closure charges as per HDFC Bank Personal Loan.
What are HDFC Bank Personal Loan preclosure charges?
HDFC Bank Personal Loan preclosure charges are Nil.
What are the documents required for HDFC Bank Personal Loan?
You will require your basic KYC documents, Aadhaar card/Voter ID, PAN card, salary slips/ITRs as income proof, and two recent photographs for a personal loan from HDFC Bank.
What is the Processing Fee for HDFC Bank Personal Loan?
HDFC Bank charges a processing fee of 1% of the Loan Amount plus GST for the personal loan products.
How to get HDFC Bank Personal Loan for Self Employed?
HDFC Bank has special offers for self-employed individuals that wish to borrow money for personal and business use. You should be filing an ITR for at least three years.
What is the Minimum Loan Tenure for HDFC Bank Personal Loan?
The tenure for availing of the HDFC Bank Personal Loan is starting from 12 months.
What is the Maximum Loan Tenure for HDFC Bank Personal Loan?
The tenure of availing of the Personal Loan is up to 60 months.
What should be the CIBIL Score for HDFC Bank Personal Loan?
You will need a minimum CIBIL score of 750 or above for availing of an HDFC Bank personal loan.
Do I have a preapproved offer for HDFC Bank Personal Loan?
You can check all your HDFC Bank preapproved personal loan offers through our channel partners. All you need to do is fill a form, and we will check for the best offers for you.
How to calculate EMI for HDFC Bank Personal Loan?
You can use the EMI calculator available at Dialabank’s website to calculate your HDFC Bank personal loan EMIs.
How to pay Personal Loan EMI in HDFC Bank?
You can pay your HDFC Bank personal loan EMIs through direct deduction from your bank account every month. You can also use net banking and online payment services of HDFC Bank.
How to close a Personal Loan in HDFC Bank?
To close a personal loan from HDFC Bank, you first have to make sure that you have paid all the outstanding loan amount along with any charges as applicable. Once that is done, you should collect the payment receipt and no dues certificate for future reference.
How to check HDFC Bank Personal Loan Status?
You can check the personal loan status by contacting the HDFC Bank on their customer care number or through the loan status webpage of the HDFC Bank website. You can also contact our channel partners and leave all your financial worries to us.
How to close HDFC Bank Personal Loan Online?
To close a personal loan from HDFC Bank, follow these steps:
- Visit the online payment page of the HDFC Bank website.
- Log in using your loan account credentials.
- Pay all the due amount for your personal loan and save the transaction receipt.
- Visit the branch and take a no dues certificate using your payment receipt.
How to pay HDFC Bank Personal Loan EMI Online?
Your personal loan EMIs can be paid using the online and mobile banking services of HDFC Bank. Our channel partnerscompares different banks’ financial products and helps you choose the best and the lowest EMI personal loan available. Just fill in a simple form and let us do the hard work for you.
How to check Personal Loan Balance in HDFC Bank?
To check the personal loan balance in HDFC Bank, you will have to contact the customer care number or visit the nearest HDFC Bank branch. To get lower interest personal loans with an easy EMI structure, fill in a simple form for Personal Loan Balance Transfer by visiting chatting on our facebook page and we will do the rest for you.
How to download HDFC Bank Personal Loan Statement?
To download the personal loan statement of HDFC Bank, use the HDFC Bank mobile banking app.
How to Top Up Personal Loan in HDFC Bank?
To avail of a top-up on your personal loan from HDFC Bank, you will need to contact your HDFC Bank loan branch in person. You may also simply fill a form with Our channel Partners at Personal Loan Top Up and leave the hard work to us.
What happens if I don’t pay my HDFC Bank Personal Loan EMIs?
HDFC Bank charges you with the penal interest of 2% per month on your outstanding loan amount if you do not pay your personal loan EMIs.
The relief framework is aimed at destressing the borrowers by plummeting financial stress. This new framework gives the borrower liberty to extend the repayment tenure up to 2 years at certain consequences.
How to find the HDFC Bank Personal Loan account number?
To find your HDFC Bank personal loan account number, you will have to contact your HDFC Bank loan branch. You can also fill a form available at Dialabank to leave the hard work to us.