HDFC Bank is providing personal loans to its customers. This loan can be used for personal work as well as business. Under HDFC Bank Personal Loan, a person can take a loan ranging from Rs 50000 to Rs 40 lakh. The repayment period of this loan has been fixed at 6 years. In HDFC Bank Personal Loan, you will get information about its purpose, interest, necessary documents, how to apply etc.
Objectives of HDFC Bank Personal Loan
A personal loan is a loan that can be taken for any purpose like renovation of the house, marriage, medical emergency, loan repayment, paying bills and many more. Unlike other loans, personal loans do not require any collateral and can be availed easily by submitting papers. Payroll loans can also be repaid in a single EMI, which is deducted directly from the bank.
Interest Rate on Personal Loan
| Types of Personal Loans | Rate of Interest (per annum) |
| Marriage Loan from HDFC Bank | 10.50-20.40% |
| Home Renovation Loan by HDFC Bank | 10.50-20.40% |
| Personal Loan for Teachers from HDFC Bank | 10.50-20.40% |
| Personal Loan for Salaried Individuals by HDFC Bank | 10.50-20.40% |
| Personal Loan for Government Employees by HDFC | 10.50-20.40% |
| HDFC Bank Personal Loan Balance Transfer | 10.40% |
| Other HDFC Bank Personal Loans | 10.50-20.40% |
Benefits of Personal Loan
- If you are a customer of HDFC Bank and apply for a personal loan, but the conditions are met, the loan amount will be given within 10 seconds. If you are not a customer of HDFC and you have applied for a loan, then the loan amount will be deposited in the bank account within 4 hours of the loan being approved.
- You can apply for a loan online from HDFC Bank from the comfort of your home.
- You can protect yourself by taking a personal loan from HDFC Bank. Personal accident coverage of up to Rs 8 lakh and critical illness cover of up to Rs 1 lakh is available.
- This loan can be used for any purpose.
Personal Loan Eligibility
- Applicant’s age should be minimum 21 and maximum 60 years.
- The applicant must be a citizen of India.
- At the time of application, the applicant should be employed for two years.
- If the applicant has a salary account in HDFC Bank, the minimum monthly income should be Rs 25,000.
- In case of not having a bank account, the monthly income should be Rs 50,000.
- The minimum monthly income for personal loan should be Rs 75,000.
- For personal loan, your CIBIL score should be more than 650. Also, you should not be declared bankrupt by any bank.
Documents required for personal loan
- Aadhar card
- PAN card
- Driving License
- 6 months bank statement
- Bank Account
- Passport size photo
- Income Certificate
- Caste Certificate
- Mobile Number
- email id
Offline Application for Personal Loan
- To avail a personal loan from HDFC Bank, you need to visit the nearest HDFC Bank.
- After that you will have to talk to the employees and get the form. The information asked in that form will have to be filled carefully.
- Documents and photos have to be attached with this form.
Also Read : Google Pay Personal Loan: Objectives, Benefits, Eligibility, Documents, Application Process
- Finally the form has to be submitted to the bank employees.
- After this, the bank will check your documents and approve the loan amount based on your previous record or civil score.
How to take a loan online
- To apply online, first of all you have to visit the official website of HDFC Bank www.hdfcbank.com .
- After this you will see the option of bags in the personal section, select it.
- In this you will see two personal loan options, one of which will be personal loan and the other will be paperless personal loan. In this you have to select the option of personal loan.
- After this, the application option will come in front of you, go to it. You will have to fill the required information in it. After this, all the documents have to be scanned and uploaded.
- After that click on submit. After this your documents will be verified by the bank and later your loan will be approved.
HDFC Bank Personal Loan FAQs
Why choose HDFC Bank Personal Loan?
By applying for HDFC Bank Personal Loan, you can get the required amount of money from the bank. This bank offers a loan of up to Rs. 12 lakh with EMIs that suit your pocket starting from ₹ 2,162/- per lakh loan amount with a flexible repayment period of up to 5 years.
How to close HDFC Bank Personal Loan?
Personal loans cannot be pre-closed online, for this you will have to visit the nearest bank branch. You can pre-close your loan by going there. You can call the customer care number to find out the nearest bank branch.