HDFC Bank Personal Loan @10.50% Interest rate
Discover flexible and convenient financing with HDFC Bank Personal Loans. Enjoy quick disbursals, competitive interest rates starting at 10.25% p.a., and loan amounts up to ₹40 lakhs.
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HDFC Bank Personal Loans
HDFC Bank Personal Loans offer a convenient and flexible financial solution for individuals looking to meet their personal needs. Whether it’s funding a wedding, a vacation, medical expenses, or consolidating debt, HDFC Bank provides personal loans with attractive interest rates starting from 10.50% per annum. The loan amount can go up to ₹40 lakhs, depending on the borrower’s eligibility and requirements.
Features of HDFC Personal Loan
Here’s a table summarizing the key highlights and features of HDFC Personal Loans:
| Feature | Details |
|---|---|
| Loan Amount | Up to ₹40 lakhs |
| Interest Rate | Starting from 10.50% per annum |
| Loan Tenure | 12 to 60 months |
| Processing Fee | Up to 2.50% of the loan amount |
| Prepayment Charges | 4% of the principal outstanding after 12 months |
| Eligibility | Salaried individuals, including employees of private and public sector undertakings, and self-employed professionals |
| Minimum Income Requirement | Varies based on location and profile; typically, ₹25,000 per month for salaried individuals |
| Documentation | Minimal documentation required, including proof of identity, address, and income |
| Digital Loan Application | Online application process available with instant approvals for eligible customers |
| Top-Up Loan | Option for existing customers to avail a top-up on their existing loan |
Compare HDFC Bank Personal Loan vs other Lenders
- No Address Proof Required
- No Company Listing Needed
- 750+ CIBIL Score
- 750+ CIBIL Score
Interest Rate
10.50% - 16%
Loan Amount
upto Rs.40L
Interest Rate
10.35 % - 12.50%
Loan Amount
upto Rs.40L
Interest Rate
10.49% - 19%
Loan Amount
upto Rs.50L
Interest Rate
10.49 % - 14.50%
Loan Amount
upto Rs.40L
Interest Rate
10.35% - 12.99%
Loan Amount
upto Rs.50L
Interest Rate
10.75% - 16.50%
Loan Amount
upto Rs.40L
Interest Rate
10.5% - 13.50%
Loan Amount
upto Rs.50L
Eligibility Criteria for HDFC Personal Loan
| Eligibility Criteria | Details |
|---|---|
| Age | Minimum 21 years, Maximum 60 years |
| Employment | Salaried individuals employed with private limited companies, public sector undertakings, or government bodies |
| Income | Minimum net monthly income of ₹25,000 (may vary based on location) |
| Work Experience | Minimum 2 years of overall work experience, with at least 1 year with the current employer |
| Credit Score | A good credit score (generally above 750) enhances eligibility and chances of securing a better interest rate. |
What are the Factors Affecting Eligibility?
- Employment Stability: Consistent employment history with a stable income source.
- Repayment Capacity: Ability to repay the loan based on your income and existing financial commitments.
- Credit History: A good credit score demonstrates responsible borrowing behavior.
- Other Financial Obligations: Outstanding loans or credit card debts might affect eligibility.
Fees and charges of HDFC Personal Loan 2024
Here’s a table detailing the typical fees and charges associated with HDFC Personal Loans in 2024:
| Fee/Charge | Details |
|---|---|
| Processing Fee | Up to 2.50% of the loan amount, subject to a minimum of ₹2,999 and a maximum of ₹25,000 |
| Prepayment Charges | – For Salaried: 4% of the principal outstanding amount after 12 months (if allowed) – For Self-employed: Not allowed in the first 12 months; 4% of the principal outstanding after 12 months |
| Late Payment Charges | 2% per month on the overdue amount |
| Loan Cancellation Charges | Rs. 3,000 per request, along with interest for the interim period |
| Stamp Duty & Other Statutory Charges | As per applicable laws of the state |
| Cheque Bounce Charges | Rs. 550 per instance |
| Duplicate NOC Charges | Rs. 500 per request |
| Loan Restructuring Charges | As per the terms applicable at the time of restructuring |
| CIBIL Report Charges | Rs. 50 per report (if requested) |
| Loan Overdue Charges | Additional interest of 2% per month on the overdue EMI amount |
| Switch Fees | Not applicable to personal loans |
Please note that these fees and charges are subject to change and may vary based on specific loan terms and conditions. It’s recommended to confirm the exact charges with HDFC Bank or refer to the latest information provided by the bank.
Types of HDFC Personal Loan
- Marriage Loan
- Travel Loan
- Debt Consolidation Loan
- Home Renovation Loan
- Personal Loan for Teachers
- Personal Loan Balance Transfer
Documents Required for HDFC Personal Loan
The specific documents required for an HDFC Personal Loan can vary based on your employment status, loan amount, and other factors. However, there’s a general list of documents you might need:
For Salaried Individuals:
| Document Type | Required Documents |
|---|---|
| Identity Proof | Aadhaar Card, PAN Card, Passport, Driving License, Voter ID |
| Address Proof | Aadhaar Card, Passport, Driving License, Voter ID, Utility Bill |
| Income Proof | Salary slips for the last 3 months, Form 16 (latest), Bank statements for the previous 6 months |
For Self-Employed Individuals:
| Document Type | Required Documents |
|---|---|
| Identity Proof | Aadhaar Card, PAN Card, Passport, Driving License, Voter ID |
| Address Proof | Aadhaar Card, Passport, Driving License, Voter ID, Utility Bill |
| Income Proof | Income Tax Returns (ITR) for the last 2 years, Profit and Loss statement, Balance Sheet |
Additional Documents (May be Required):
- Photographs
- Proof of Business Address
- Business License or Registration Certificate
How to Apply HDFC Personal Loan at fincover.com?
HDFC bank personal loan apply online,
- Visit https://www.fincover.com/banking/loan/personal/ and select HDFC bank
- Enter all the required information as requested and Submit your personal loan application
- Check if your personal loan is approved with the reference no provided
- If approved and verified, the loan will disbursed in few days
Tips for Availing an HDFC Bank Personal Loan
During the Application Process
- Online Application: Consider applying online for a faster and more convenient process.
- Accurate Information: Provide accurate details in the application form to avoid delays and potential rejections.
- Clear Communication: If you have any queries or require clarification, contact HDFC Bank’s customer support for assistance.
NBFCs
- Rs.50 lakh Personal Loan
- Rs.40 lakh Personal Loan
- Rs.30 lakh Personal Loan
- Rs.25 lakh Personal Loan
- Rs.20 lakh Personal Loan
- Rs.15 lakh Personal Loan
- Rs.10 lakh Personal Loan
- Rs.5 lakh Personal Loan
- Rs.4 lakh Personal Loan
- Rs.3 lakh Personal Loan
- Rs.2 lakh Personal Loan
- Rs.1 lakh Personal Loan
- Rs.50,000 Personal Loan
