HDFC Personal Loan Eligibility Calculator

An HDFC personal loan eligibility calculator helps applicants quickly estimate the amount of personal loan they can receive. You can obtain this information by entering the basic details in the online eligibility calculator. However, the other factors, such as the company category list and the applicable multiplier, must be considered.

If your salary is ₹ 30k per month, the amount of personal loan you are eligible for from the HDFC Bank will depend on the following:

• The category of your employer as per the HDFC Bank company category list.
• The existing credit card and loan obligations.
• Your CIBIL score.

For example,

• If you are employed with a Category A company with a multiplier of 22.
• Paying a monthly EMI of ₹ 7000/- for your Home Loan.
• Your eligibility is calculated as follows;
• ₹30,000/- minus ₹7000/- is 28000/- multiplier of 22 = ₹ 6,16000/- as a maximum.

To increase your personal loan eligibility, adopt the following methods:

• Pay EMI and credit card dues on time to keep your CIBIL score above 720 points.
• Keep credit card usage below 40% of the credit limit.
• Add an earning co-applicant to your mortgages.
• Ask for a longer tenure on your loan to pay a lower EMI.
• Consolidated various loans with a balance transfer.
• Apply for an HDFC Bank Top Up personal loan.

Approval for a personal loan of ₹10 lakhs comes with unique privileges, such as no foreclosure charges and the lowest interest rates. To qualify for a personal loan of ₹10 lakhs from HDFC Bank, the applicant must meet the following criteria;

• The applicant's net income must be above ₹70k per month.
• The applicant's employer must be included on the approved company category list.
• The CIBIL score should be above 720 points with no outstanding dues on credit cards.
• The existing credit obligations must not exceed 50% of the income.

The monthly salary is the main factor in determining the personal loan amount an applicant can receive. HDFC Bank has set multipliers based on salary tiers; the higher the income, the greater the applicable multiplier and the loan amount issued.

Review the comparison below to see the personal loan amount an applicant qualifies for based on their net salary. As a higher-earning applicant has increased expendable income after meeting basic needs, they will be able to afford a higher EMI.

A CIBIL score of 720 or higher is a gateway to obtaining credit when required. Although the CIBIL score is not part of the loan amount calculation, a good CIBIL score will inspire confidence in the Lender to issue higher loan amounts to a borrower with suitable terms @ the best interest rate.

The primary factors that influence personal loan eligibility include:

• The net salary is drawn monthly.
• The CIBIL score.
• The company category as per the approved company list.

The eligibility calculator will help you arrive at an approximate loan amount you can receive. The final amount approved by the Bank will depend on several other factors, including the customer profile, which will be closely assessed, and the Bank's applicable policy.