HDFC Personal Loan

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Get attractive rates on HDFC personal loans starting at 10.50% p.a. HDFC offers loans of up to Rs.40 lakh with flexible tenures of up to 5 years. The bank charges a processing fee of up to 2.5% of the loan amount.

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Fees & Charges

Pre-closure fee = 4% of principal outstanding (plus applicable tax) in 2nd year. 3% (plus applicable tax) in 3rd year & 2.5% (plus applicable tax) afterwards
Part-payments can be made only after 12 months. For part payments between 13 to 24 months, a fee of 4% is applicable on the part-payment amount. 3% is applicable on payments between 25 to 36 months. 2% is applicable post 36 months
Part-payments are allowed only twice during the loan tenure and once a year. The amount cannot exceed 25% of the principal outstanding

Good to Know

Eligibility Criteria

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Features of HDFC Personal Loan

No collateral or security required to avail a personal loan.
Loan disbursal within a day of applying for the loan.
HDFC personal loan interest rates range from 10.50% p.a. to 21.00% p.a.
Borrowers can opt for the ‘Sarv Suraksha Pro’ policy, which provides a credit shield cover, an accidental hospitalisation cover, and a permanent disability/accidental death cover.
Borrowers can also avail an optional insurance cover that will offer coverage against personal accidents and critical illnesses.

HDFC Bank Personal Loan Details

Rack Interest Rate	10.50% p.a. – 21.00% p.a.
Loan Amount	Rs.50,000 to Rs.40 lakh*
Benefits	Disbursal in 10 seconds for pre-approved customers and in four hours for other applicants Minimal documentation required Insurance options available

(*Loan amount can vary depending on your eligibility and is solely at HDFC’s discretion)

Fees and Charges

The various fees and charges that are levied by HDFC Bank are:

Loan processing fee	Up to a maximum of 2.5% of the loan amount, subject to a maximum fee of Rs.25,000
Pre-payment/Part-payment charges	4% of the outstanding principal (loan tenure between 13 – 24 months) 3% of the outstanding principal (loan tenure between 25 – 36 months) 2% of the outstanding principal (loan tenure if over 36 months)
Overdue EMI interest	2% per month will be charged on the principal or EMI that is overdue
Stamp duty and other statutory fees	As per the laws of the state that the applicant resides in
Cheque swapping fee	Rs.500
Amortization schedule fee	Rs.200
Cheque bounce charges	1st return: Rs.450 + taxes per instance 2nd return in a month: Rs.500 + taxes per instance From 3rd return onwards: Rs.550 + taxes per instance
Incidental or legal charges	At actual

Eligibility Criteria for HDFC Personal loan

You should be employed at a private company, a public sector company, or with a state, central, or local government body.
You should be over the age of 21 years. The maximum age is 60 years.
The minimum income required is Rs.25,000 per month.
You should have an overall work experience of at least 2 years.
You should have been employed at their present organization for a minimum of 1 year.

Documents Required for HDFC Loan

Proof of identity	Aadhaar Card, Driving Licence, Passport, or Voter ID Card
Proof of address	Voter ID Card, Aadhaar Card, Passport, or Driving Licence
Other documents	Bank statements for the last three months or passbook of the last six months Latest salary slip or salary certificate Form 16 Passport-size photograph