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.
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.
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:
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
Salaried- 13-24 months - 4% of principal outstanding,
Loan closure letter
Duplicate loan closure letter
Overdue EMI interest
2% per month on EMI / principal overdue
Charges for changing from floating to fixed rate of interest
Stamp duty & other statutory charges
As per applicable laws of the state
Credit assessment charges
Non standard repayment charges
Cheque swapping charges
Amortization schedule charges
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