Features:
Unsecured, collateral-free loans: Applicants can avail of the different types of Personal Loans without collateral.
Quick and easy disbursal: Within 10 seconds* to 4 hours*, this is all the time it takes for HDFC Bank to approve your loan application (subject to terms and conditions). Thereafter, the loan amount is disbursed within one working day from the time of submission of documents.
Competitive interest rates: With HDFC Bank Personal Loan, you can get loans at attractive interest rates, with added benefits offered by the banks if you are an existing customer with a very good credit history and CIBIL score.
Flexible loan tenure: These variants under Personal Loan categories come with flexible tenures of 1-5 years, with an easy EMI repayment option available.
Eligibility:
Must be between 21 years and 60 years of age
Salaried employees at select private limited companies and public sector undertakings (including central, state and local bodies)
For the self-employed: applicants may be required to have a specified minimum income, and financial documents that show stability of income.
Must have had a job for at least 2 years, with a minimum of 1 year with the current employer
For an HDFC Bank Salary Account holder: must have a minimum net monthly income of Rs 25,000.
For a non-HDFC Bank Salary Account holder: must have a minimum net monthly income of Rs 50,000
*Government taxes and other levies as applicable will be charged over and above the Fee and Charges. Loan disbursal is at the sole discretion of HDFC Bank Ltd.
Documents:
Identity proof (copy of passport/voter ID card/driving license/Aadhaar)
Address proof (copy of passport/voter ID card/driving license/Aadhaar)
Bank statement for the previous 3 months (Passbook for previous 6 months)
Two latest salary slips/current dated salary certificate with the latest Form 16
Proof of end use
Interest Rates & Charges:
Fee | Amount to be paid |
Rack interest rate | Salaried - 10.50% to 21.00% |
Loan processing charges | Up to 2.50% of the loan amount subject to a minimum of Rs 2,999/- & maximum of Rs 25,000/- for salaried customers |
Prepayment in Part or full | Salaried- No pre-payment in part or full permitted until repayment of 12 EMIs |
Pre-payment charges | Salaried- 13-24 months - 4% of principal outstanding, |
Loan closure letter | NIL |
Duplicate loan closure letter | NIL |
Solvency certificate | Not applicable |
Overdue EMI interest | 2% per month on EMI / principal overdue |
Floating rate | Not applicable |
Charges for changing from floating to fixed rate of interest | Not applicable |
Stamp duty & other statutory charges | As per applicable laws of the state |
Credit assessment charges | Not applicable |
Non standard repayment charges | Not applicable |
Cheque swapping charges | Rs 500/- |
Amortization schedule charges | Rs 200/- |
Loan cancellation charges | NIL (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 charges | Rs 550/- per cheque bounce |
Legal/incidental charges | At actual |