HDFC Bank gives personal loan for customers to meet their varied financial requirements like a medical emergency, wedding, travel, debt consolidation, etc. Furthermore, The bank promises simplified documentation and quick approvals with which customers can get a lot of benefits making their life easier when it comes to handling finances. Anyone looking for a quick and easy disbursal personal loan can apply with HDFC bank Personal Loan by checking in all the documentation and eligibility requirements.
Why go for HDFC Personal Loan
HDFC Bank allows you personal loan starting from Rs.50,000 to Rs.40,00,000 depending on the applicant’s financial profile, credit score, and professional background.
Customers can avail the personal loan more comfortably, and they can have their loan approved within four working hours.
HDFC bank requires very less documentation for the approval of the loan and the loan process very quick.
No Guarantor or Cosigner required to avail the loan.
Eligibility for HDFC Personal Loan
Salaried
Profession: The person should be working in a government, private or MNC Company.
Eligible Age: The Minimum age to apply for a Personal Loan is 21 years, and the maximum is 60 years.
Minimum income: The person should be getting a minimum of 20,000p.m. Salary.
Work Experience: The applicant should have at least three years of working experience, and more than three months of experience in the current company.
CIBIL score and EMI percentage: The minimum CIBIL score required for Personal Loan is 650 & maximum EMI should be not more than 65% of monthly income.
Self-Employed
Profession: The Person should be professionals like Doctors, CA, CS, Architects, Lawyer, or, doing his own business.
Eligible Age: The minimum age to apply for a personal loan is 23 years, and the maximum is 65 years.
Minimum income: The minimum revenue from business or the profession should be not less than 25,000p.m.
Work Experience: The person should have at least three years of his professional experience.
CIBIL score and EMI percentage: The minimum CIBIL score required for Personal Loan is 650 & maximum EMI should be not more than 65% of monthly income.
HDFC Personal Loan Interest rate
The interest rate may vary from 10.99% to 19.99% per annum. The rate of interest offered by HDFC Bank is as per the prevailing market trends, yet competitive compared to most of the market players. The interest rates are indicative only, and the final rate offered would vary and calculated based on below-mentioned points.
Profile of Customers
Tenure of the Loan
Geography of residence
Nature of Collateral (If provided)
Prior/existing relationship with the Bank.
Documents Required
Salaried
Identity Proof: Adhar Card, Passport, Voter ID card or Driving License
Address proof: Ration card, Passport, rent agreement, electricity/water bill.
Last six months Bank statement & 3 months’ salary slip
Latest form 16
PAN card
Self-Employed
Identity Proof: Adhar Card, Passport, Voter ID card or Driving License
Address proof: Ration card, Passport, rent agreement, electricity/water bill.
Latest six months of Bank statement.
Latest ITR along with computation of income along with P/L audited by certified CA for the previous two years.
Tenure
Tenure is the time period for which you get the loan; here it is for five years.
About HDFC Bank
HDFC Bank Limited is an Indian banking company which has it’s headquarter in Mumbai, Maharashtra. It has 88,253 permanent employees as of 31 March 2018. HDFC Bank is India’s largest private sector bank by assets. It is the largest bank in India by market capitalization as of February 2017. It was ranked 69th in 2016 BrandZ Top 100 Most Valuable Global Brands.
How to apply for HDFC Personal Loan?
Visit lendingwale.com and fill all your required details like Name, age, income, etc.
Our relationship manager will contact you as soon as possible and help you get your loan approved.
FAQs
Why should I take a personal loan from HDFC Bank?
HDFC Bank provides a Personal Loan at a shallow interest rate with the low EMI options. Furthermore, the bank process the Loan very fast and without any hassle.
What interest is charged by HDFC Bank on a personal loan?
Personal loan interest rates generally start from 10.99%. However, it changes from time. Besides that, it also depends on the profile of the applicant.
What is the tenure of Personal Loan?
The loan tenure of the Personal Loan is One year to Five years.
How much Personal Loan amount I can borrow from HDFC Bank?
The applicant can get a loan amount of Rs. 50 Thousand to a maximum amount of Rs. 30 Lakhs, depending on the professional background.
How much does the HDFC Bank charge a processing fee on a personal loan?
The processing fee charged is about 2.5%.
Is age an eligibility factor in getting a personal loan?
Yes, age is a factor to apply for a personal loan. The minimum age of the applicant should be 21 years, and it can be maximum 60years.
Are there any prepayment charges on a personal loan from HDFC Bank?
Yes, the pre-closure charges are from 2% to 4% depending on the time of the loan.
How can I get a personal loan with low CIBIL score?
You cannot get a personal loan with low CIBIL score; however, you can go for a gold loan.