Advantages of a Personal Loan From HDFC Bank
Unsecured Loan
HDFC Bank grants a
Personal Loan without any security or collateral—funds are disbursed for personal use based on the Applicant's income, profile & credit history. So, you don't need to mortgage your property or keep jewellery as collateral to secure funds. A
Personal Loan is a convenient way to secure the funds you need.
Convenient & Flexible
A HDFC Bank personal loan is convenient & Flexible. You can repay the loan amount conveniently through monthly instalments; the EMI is automatically deducted through the ECS (electronic clearing system) on a predetermined date each month. HDFC Bank offers a flexible repayment option of 12 to 60 months, based on the customer’s choice and the Bank's terms.
Quick Process
The process for a
HDFC Bank Personal Loan is efficient and streamlined. An applicant can receive an
Instant Online HDFC Bank Personal Loan within 3 working days. After you submit the application, the processing is completed within 72 hours.
HDFC Bank account holders and applicants with a previous relationship with HDFC Bank can expect a faster decision. On approval, the funds are transferred via ECS to the applicant's salary account. Online facilities allow
HDFC Bank account holders to disburse their loan amount instantly.
Minimal Documentation.
The documents required for processing an HDFC Personal Loan are simple and readily available. These include KYC and Income Documents; you can choose from various options for photo identity and residence proof. Income documents include salary slips for salary breakup details and bank statements for proof of transfers. Provide clear copies of all documents and self-attest them before submission.
Unrestricted Usage.
As the name denotes, financiers provide a Personal Loan for personal use. Once granted, the Applicant can use the loan amount as and when required, without restrictions, provided it is used for personal reasons and not for investment or speculation. With timely repayment, additional credit is readily available when needed.
Personal Loan Eligibility Criteria From HDFC Bank
Eligibility Criteria From HDFC Bank
| Age |
21 Years - 60 Years |
| Educational Qualification |
Graduate |
| Income |
Above 30k Per month |
| Bank Account |
Salary Account In a Recognized Bank |
| Work Experience |
12 Months |
| Current Employer |
Featured In HDFC Bank Company List |
Age
To apply for an HDFC Bank Personal Loan, the applicant must be over 21 years. The maximum age limit for an EMI is 60 years. However, the loan tenure can be extended up to 62 years if you submit proof of retirement age from the Government, Ltd., or Private Ltd. organisation.
Educational Qualification
For an
HDFC Bank Instant Personal Loan, the Applicant should be a graduate or have equivalent qualifications. Proof certifying the same may be required when
Applying For a Personal Loan; any additional degree will add value to the application. Postgraduates and professionals are preferred candidates and receive higher loan amounts.
Income
The minimum salary an applicant earns should be above ₹30k per month; the employer must transfer this amount directly to the bank account. Customers with a salary of ₹75k and above are elite customers. HDFC account holders can Apply Instant HDFC Bank Personal Loan.
Bank Account
You must have a salary account with a bank where your employer transfers your salary monthly. Applicants who receive compensation in cash in hand or bearer cheques are not eligible to apply under HDFC Bank personal loan guidelines.
Work Experience
Before applying for an HDFC Personal Loan, the applicant must be regularly employed with 12 months or more of work experience.
Current Employment
The company the applicant works for must be in the
HDFC Bank Company Category List.
HDFC Bank processes personal loan applications for applicants working in Limited, Private Limited, or Public Limited companies, or for government employees. Applicants working with Proprietorship or Partnership companies are not eligible according to the
HDFC Bank Personal Loan Eligibility criteria.
Personal Loan Charges From HDFC Bank
| Charges Applicable |
Details |
| Rate of Interest |
9.99% to 24% @ monthly reducing balance. |
| Processing Fees |
₹6999/- onwards |
| Pre-Closure Charges |
After 12 months -4% and after 36 months- 2% of the principal |
| Loan Cancellation Charges |
Nil (However, the processing charges will not be refunded) |
| Loan Cancellation Charges |
With Interest charged on the interim period of the process for pre-closure |
| Cheque Bounce Charges |
Rs 550/- per cheque Bounce. |
| The Charge For Late Payment |
2% per month from the date of unpaid EMI |
| Cheque swapping Charges |
Rs 500/- |
| Amortization Schedule Charges |
Rs 200/- |
| Stamp Duty |
At actual as per applicable law |
| CIBIL Report Copy Charge |
Rs 50/- per copy. |
| Service Tax/Other Taxes |
(Actuals applicable) |
| Legal, Repossession & Incidental Charges |
At actual |
*Your Loan Advisors provides services to its esteemed customers free of charge. Contact us today!
Rate Of Interest
The
Rate of Interest is the cost of the funds secured from
HDFC Bank as a Personal Loan. It is the primary charge HDFC Bank levies
for Personal Loans and ranges from 9.99% to 24%. HDFC Bank charges the Personal Loan interest rate on a monthly reducing balance. The interest rate depends on the following attributes.
The Net Income of The Applicant
The higher the applicant's income, the lower the
Rate of Interest for the
Personal Loan. An applicant earning a salary above 75k can get a
Personal Loan at a better interest rate than someone earning 30k per month. A higher income indicates the ability to borrow larger amounts, and having a comfortable income makes repayment more manageable. Thus, HDFC Bank considers all high-income applicants preferred customers and issues them a lower interest rate.
Loan Amount
The quantum of the
Personal Loan the Applicant is eligible for or approved as per the HDFC Bank process will determine the interest rate. Discounts on the interest rate apply to higher loan amounts, whereas individuals requiring minimal loan amounts will be given the loan at the current rack rate.
HDFC Bank Processes Loan Amounts of 10 Lakhs and more under the
Golden Edge Program with a lowered interest rate, and terms and conditions apply.
Processing Fees
The processing fees are the file charges levied by HDFC Bank for processing the
Personal Loan Request. The cost is not charged upfront and only applies if the Loan is approved. The processing fee is chargeable from ₹6999/- onwards. Discounts are issued for approved Loan amounts of ₹10 Lakhs and above.
Insurance
HDFC Bank offers Personal Loan Insurance. Personal Loan recipients can avail an insurance facility that covers the Applicant in case of an eventuality, so that the family is not held responsible for repayment. At a nominal premium, the Personal Loan insurance covers accidents up to 8 Lakhs & critical illness up to 4 lakhs.
HDFC Bank Personal Loan Pre-Closure and Part Payment
Pre-closure: HDFC Bank allows applicants to repay the Personal Loan balance before the tenure ends. This process is known as personal loan pre-closure. The applicant has the option of paying back the principal balance of the personal Loan subject to the following terms:
- A minimum of 12 EMI must be paid.
- A penalty amount is charged as follows for the foreclosure of the personal loan.
| Period |
Penal Charges |
| 13-24 Months |
4% of the principal balance amount |
| 25-36 Months |
3% of the principal balance amount |
| > 36 Months |
2% of the principal balance amount |
Part payment of a Personal Loan involves the cost of a partial amount towards the principal balance of the Personal Loan amount. HDFC Bank allows part payments towards a Personal Loan as per the following criteria:
- You can repay a part of the personal loan amount after repaying 12 instalments.
- A part payment will be allowed a maximum of twice during the entire term and only once a year.
- At any point in time, each part payment will not exceed 25% of the Principal Outstanding.
Personal Loan Features from HDFC Bank
Loan Amount
The Loan Amount offered by HDFC Bank as a Personal Loan starts from 50k up to a maximum of ₹50 lakhs. The minimum amount a customer may apply for is 50k; the loan amount the Bank approves depends on the HDFC Personal Loan Eligibility Check and the Bank's calculations & policy.
Tenure
Tenure is the period given to repay the approved loan amount. For example, HDFC Bank grants a term of 12 to 60 months; during this period, the Applicant repays the Loan via equated monthly instalments. The personal loan tenure is granted taking into account:
- The loan amount the Bank approves.
- The Monthly Instalment payable.
EMI (Monthly Instalment)
The monthly EMI is the instrument for paying back the
Personal Loan amount. Therefore, applicants must be mindful of the EMI, which will be deducted monthly from the salary account. HDFC Bank debits the EMI from the salary account on the 5th or 7th of each month; ensure enough funds are in the Bank account on the due date. The EMI is calculated as (Loan Amount + Interest Amount) divided by the applicable tenure.
Hypothetical Example
| Loan Amount Approved |
₹ 2 lakhs |
| Tenure |
36 months |
| Rate of Interest @ reducing balance |
14% |
| EMI |
6835.53 |
For a detailed understanding, please refer to our
EMI Calculator article!
The HDFC Bank Company Category List
This is an exclusive list of well-established companies that run profitable ventures and have good prospects. HDFC Bank offers a personal loan interest rate based on the company category of the Applicant's current employer and the HDFC Personal Loan Criteria. HDFC Bank categorises eligible companies as Category A, B, C, and D. Therefore, the Bank will offer an applicant working in a Category A company a lower interest rate than an employee in a Category C company.
CIBIL Score
The
CIBIL Score is the rating given to an individual based on credit dealings. CIBIL is an agency that maintains a comprehensive record and receives data from all banks and NBFCs based on the credit provided to their customers. CIBIL continuously receives repayment tracking and other credit details.
HDFC Bank accepts personal loan requests from applicants who have not availed any credit previously and do not have a CIBIL rating for processing. Applicants with a credit history should have an
HDFC Bank Personal Loan CIBIL Score of 730 points and above to be eligible for a
HDFC Bank Personal Loan.
HDFC Eligibility for Personal Loan Amount
HDFC Bank considers the following to calculate the amount of personal loan an applicant is eligible for;
Net income: HDFC Bank applies the FOIR (Fixed obligations versus income ratio) based on the applicant's income. The Maximum FOIR applicable based on net salary is as follows.
| Salary |
FOIR |
| ₹ 30000/- |
50% |
| ₹ 50000/- |
60% |
| ₹ 75000/- |
70% |
Thus, an applicant with a salary of ₹30,000/- is eligible to pay an EMI of ₹15000/- per month, whereas an applicant with a salary of ₹60,000/- can pay up to ₹36000/- as an EMI. Using the
EMI Calculator helps you check the loan amount you are eligible for.
Company Category: Top-tier companies listed in Cat A and B categories are offered the maximum loan amounts. A multiplier is applied as shown below, based on the employer's company category.
| Company Category |
Multiplier |
| Category Super A & A |
30 |
| Category B |
25 |
| Category C |
20 |
Example: Therefore, an applicant employed by a Category A company with a salary of ₹50,000/- can get a maximum loan amount of ₹1500000/- lakhs, whereas an employee of a Category C company with a similar income will be eligible for a personal loan of ₹10,00000/- (The FOIR ratio takes precedence over the multiplier).
Existing Credit obligations: The existing EMI being paid is added to the applicant's monthly obligations. Credit card dues must not exceed 3 times the applicant's monthly income. If the customer's existing credit dues exceed the FOIR ratio, he will be declared overleveraged.
Financial Co-applicant: A family member who is a blood relative or spouse and earns a regular income can be added as a co-applicant to the personal loan application to increase eligibility. The Applicant's and co-applicant's remuneration is added to calculate eligibility for the loan amount. Any co-applicant must meet HDFC Bank's eligibility criteria and provide the required income and KYC documents.
HDFC Bank Preferred Customers
Special Personal Loans Scheme for Working Women
Female employees now earn as much as their male counterparts and hold high-ranking positions in prestigious companies. They are now equally responsible members of the family and help drive and boost our economy. Women candidates earning a regular income can apply for an HDFC Personal Loan under the DIVA scheme. Salaried individual loan applicants who meet HDFC Bank policy norms are offered personal loans under special terms.
- Priority processing: Personal loans for women applicants under the HDFC Bank 'DIVA' scheme have priority processing.
- Pre-approved offers: HDFC Bank offers pre-approved loans of 3 lakhs to eligible candidates under this scheme.
- Special discounts for processing fees apply to women applicants.
HDFC Personal Loan offer for Elite Applicants
High-income customers with a salary of 75k or more can apply for increased loan amounts of 10 Lakhs or more. They are considered Elite applicants and receive priority processing. Special privileges offered to Elite applicants include:
- Priority processing of personal loan applications & funds disbursed within 48 hours.
- Personal Loan processed with a discounted interest rate and processing fees.
- Special terms are applicable for pre-closure & part payment.
Special Offers from HDFC Bank
HDFC Bank launches special offers for applicants working in companies featured in the Economic Times list as Top Companies: organisations with a special relationship with HDFC Bank, government organisations, and profitable PSUs. For sourcing Personal Loans from these prestigious organisations, special offers include:
- A reduced rate of Interest is offered for a Personal Loan by HDFC Bank, starting at 9.99%.
- A discounted processing fee.
- A reduced rate of Interest across all salary segments.
HDFC Personal Loan for Doctors and Dentists
Doctors and dentists are the most sought-after professionals. With qualifications that ensure stable employment and income, they are prime customers for all Banks. HDFC processes personal loan applications from doctors and dentists under the Business Loans Category. All Medical practitioners with the following degrees can apply under this category.
- Super Specialist Doctors (MD/DM/MS)
- Graduate Doctors (MBBS)
- Dentists (BDS/MDS)
- Ayurvedic and Homoeopathic Doctors: BHMS/BAMS
Finance is offered via a Personal Loan for doctors to use for professional and personal needs. Self-employed medical practitioners can use the funds via a Personal Loan for business purposes such as buying medical equipment, expanding the business, or funding daily operations. Salaried & self-employed Doctors can use a Personal Loan for personal needs such as home renovation, Family vacations, Wedding expenses, or emergencies.
The benefits of a Personal Loan for Doctors from HDFC Bank are the following:
- The enhanced loan amount can be up to ₹50 Lakhs.
- A tenure from 12 to 60 months is available to repay the Personal Loan.
- A special rate of interest & processing fees is applicable across all loan amounts.
- In addition, HDFC Bank provides priority processing and convenient documentation.
Personal Loans for The Indian Defence Forces from HDFC Bank
HDFC Bank is undoubtedly the Leading Bank for distributing
personal loans. With a broad reach and efficient systems, it has created many milestones. Paying tribute to our forces that put duty & sacrifices above all,
HDFC Bank is the only institution that offers the advantage of a
Personal Loan for our Defence Forces.
The Advantages of a Personal Loan for Defence Forces from HDFC BANK
- HDFC Bank now approves personal loans across the Army, Navy, and Air Force.
- Ranks: including the CRPF, CISF, SSB, and ITBP & BSF employees in the Defence category.
- Special discounts on the interest rate are applicable across all ranks.
- Unique options include flexible payback options.
HDFC Personal Loan for Government Employees
Central or State Government employees can expect a stable career and regular income. Hence, HDFC Bank offers a Personal Loan to all strata of government employees under a particular category. Personal Loans are available to Government employees as per the following segments.
Public sector Undertakings (PSUs) or CPSEs
Leading PSUs are the prime focus for all banks; they are fast-growing companies with high-profit turnovers. HDFC Bank offers Employees of these companies increased loan amounts with best-in-class interest rates. The Department of Public Enterprises issues guidelines for categorisation into categories I & II based on their financial performance, net worth, revenue, and profit as MAHARATNA, NAVRATNA, MINI RATNA.
- HDFC Bank offers a Rate of Interest as per the net salary of the applicants employed in the above companies.
- The Rate of Interest offered is from 9.99% to 13.99% @ reducing balance, with a processing fee of ₹6999/-
Central /State Government Employees
This category includes all staff directly employed with Central Ministries & State Ministries; state-sponsored Universities, colleges, hospitals, and institutes are treated as government employees. HDFC Bank has instituted categories based on government employees' income for the loan amount & rate of Interest applicable.
- HDFC Bank categorises government employees as category G.A., G.B., & G.C.
- The minimum salary required is ₹30k.
- The rate of Interest offered is from 9.99% to 24%.
- Processing fees are applicable as per the loan amount disbursed.
Indian Railways
The Indian Railways is the fourth-largest rail network in the world. It is Part of the government sector under the Ministry of Railways, and its gazetted staff are included in the government category for Personal Loans. HDFC Bank offers Personal Loans to Railway Employees under the following criteria:
- The minimum salary required for an employee in the railways is ₹30k.
- The rate of Interest offered is from 9.99% to 24% @ reducing balance.
- A standard processing fee of ₹6999/-
HDFC Bank Personal Loan Scheme For 'PENSIONERS'
With changing lifestyles & skilled medical facilities available today, people are leading active lives post-retirement age, which has just become a number. After a prestigious career, State & Central government service employees can lead a comfortable life with a regular Pension amount, which has been enhanced manifold after the 7th Pay Commission. As the first bank to offer personal loans to pensioners, HDFC Bank now offers personal loans to pensioners up to 65 years!
Pensioners can now fulfil any dream or ambition, like travelling, redecorating their homes, or just treating themselves to an updated gadget or appliance, with easy and convenient Personal Loans from HDFC Bank. Under this Special Scheme, the criteria for availing of a Personal Loan are as follows:
- Eligibility: Employees covered under this scheme are Central and State Government Pension Holders and Defence Pension Holders.
- Age: The maximum Age Limit at the time of completion of the Loan is 65 years.
- Loan Amount: The minimum Loan amount sanctioned is ₹50k, the maximum is ₹five lakhs.
- Tenure: The minimum tenure for repayment is 12 months, and the maximum tenure is 36 months.
- Verification: Contact with the Applicant in Person is mandatory during the current/permanent verification.
- Insurance: Credit Protect Insurance is mandatory for all Pensioner cases.
Personal Loan Products From HDFC Bank
Fresh Personal Loans for Salaried
- First-time personal loan seekers are eligible for a Personal Loan from HDFC Bank, provided they meet the eligibility criteria.
- Applicants with a 0 or -1 CIBIL score can also apply to HDFC Bank for a personal loan. A credit history or a CIBIL Score is not mandatory.
- Applicants with a salary account and a regular balance receive pre-approved personal loan offers from the Bank.
Personal Loan Top-Up from HDFC Bank
- A Personal Loan Top Up is an additional loan amount based on an existing Personal Loan.
- HDFC Bank provides existing customers with an extra amount when required as a Top Up Personal Loan.
- The Applicant must be eligible to repay the additional amount based on income and credit obligations.
- You must have paid at least 3 EMI to be eligible for an HDFC Personal Loan Top Up.
- Once the top-up request is approved, the existing loan is closed, and a new loan is created for the top-up amount.
- If the Applicant fulfils the HDFC Bank Personal Loan Top Up Eligibility, a top-up is a quick way to get funds.
- The applicant enjoys the convenience of a single EMI for the total loan amount.
The HDFC Bank Parallel Personal Loan
- An applicant with an existing Personal Loan from HDFC Bank can take a secondary loan based on current eligibility.
- A new personal loan runs with independent terms and conditions parallel to the existing loan.
- Customers applying for a parallel or secondary loan must meet the eligibility criteria.
- A Parallel Loan is beneficial as the customer can close previous loans, independent of the parallel loan.
- An applicant can avail of up to 3 parallel loans from HDFC Bank.
HDFC Bank Golden Edge Personal Loan
- The Golden Edge Personal Loan from HDFC Bank is designed to meet the needs of Elite clientele with an income of ₹75k and above.
- Applicants needing loan amounts of ₹10 lakh and above can apply under this program, an exclusive product for high-income customers who are served on a priority basis by HDFC Bank.
- By filling in a unique application form for the Golden Edge Personal Loan as a hard copy or applying online.
- HDFC Bank provides quick, personalised processing of Golden Edge Personal Loan Applications.
- A minimum interest rate of 9.99% applies to loan amounts of 10 Lakhs and above, along with a discounted processing fee.
- HDFC Bank waives the pre-closure and part-payment charges on the Golden Edge Personal Loan.
Balance Transfer of a Personal Loan to HDFC Bank
- HDFC Bank offers to transfer the existing principal balance of a Personal Loan from another bank.
- HDFC offers Balance Transfer and takes over the Personal Loans of customers with good repayment records.
- To transfer a personal loan to HDFC Bank, the applicant must meet the Bank's eligibility criteria.
- The existing Loan's pre-closure terms must be fulfilled before applying for a Balance Transfer.
- HDFC Bank provides the industry's best terms and conditions for a Personal Loan Balance Transfer.
Below is The Documentation Required To Process a Your Loan From HDFC Bank
KYC Documents
- PAN card as identity and signature proof.
- Accepted address proof documents: Passport/Driving Licence/Voter ID/Aadhaar Card/Ration Card.
- Recent passport-size photograph.
Income Documents
- Salary Slip for the last three months.
- Bank statement from the salary account for the last three months, showing three salary credits.
- Form 16 for the last financial year.
Why Choose Your Loan Advisors for Your HDFC Bank Personal Loan
Surveying the market for the most suitable personal loan means comparing lenders and their policies—a time-consuming process—and hoping you've picked the right lender with the best terms is a gamble. At Your Loan Advisors, we take that guesswork out of the process:
- Expert Advisory: Unlike aggregator platforms where you fill in a form and then field calls from multiple banks, our advisors work with you directly to understand your profile and requirements. We give you a transparent analysis of HDFC Bank's eligibility criteria and credit score requirements — including exactly what loan amount you're eligible for based on your income, company category, and credit score.
- Personalised Service: Our team is available to clarify everything personally — not through a chatbot or a ticket queue. Before you apply, we walk you through the actual terms of your HDFC Bank personal loan, including interest rate, processing fees, and pre-closure charges, so there are no surprises later.
- End-to-End Support: Once you get in touch with us, our advisors hand-hold you through every stage of the process — helping you compile the required documents, complete the application formalities, and stay in constant touch with the bank's team to avoid pendencies or delays, so your funds reach you in the shortest possible turnaround time.
With over 15 years of experience in the loan industry, Your Loan Advisors has kept pace with the industry's changing demands. We are the digital face of Oshun Advisory Services OPC Pvt Ltd, registered with the MCA and Udyam.
HDFC Personal loan rate comparison with other Banks.
HDFC Bank personal loan rates are competitive with market offerings, and the lowest rates are offered to applicants employed by upper-tier companies, as per HDFC Bank's company category list, with a CIBIL score of 730 points or above.
As experienced personal loan advisors, we check your eligibility criteria and the best terms available for a personal loan from HDFC Bank or another lender. We compare interest rates and terms from other lenders to help you get the best deal.
| Bank |
Interest Rate (pa) |
Processing fees |
Maximum tenure |
Processing time |
| HDFC Bank |
9.99% to 24% |
₹ 6500/-+ GST |
60 - 72 Months* |
24 -72 hours |
| ICICI Bank |
9.99% to 16.50% |
10,000/- to 1.5% of loan amount |
72 months |
24-72 hours |
| AXIS Bank |
9.99% to 22% |
2% of loan amount |
72 months |
36 hours + |
| KOTAK Bank |
10.99 to 18.99% |
3% of loan amount |
72 months |
24 -72 hours |
| SBI Bank |
10% to 16% |
1.5% of loan amount |
72 months |
48 hours+ |
*HDFC Bank offers a repayment tenure of 72 months for select profiles only.
The above details are a roadmap to the terms and conditions you will get for your loan. Will HDFC Bank offer you an interest rate of 9.99% for your personal loan? How can you get the maximum personal loan amount you need? It depends on factors such as your CIBIL score, company category, and the loan amount you need. This is where our Advisors step in: they give you a realistic view of the loan amount you are eligible for and the costs, and help you meet the processing criteria so the funds are available when you need them most.
What are the steps to process an HDFC personal loan?
Note the following steps to process your HDFC Bank Personal Loan.
-
Eligibility check
- Salary transfer of ₹30,000/- and above.
- Check Company category.
- Check eligibility for EMI (With eligibility calculator)
-
Submit application.
- Apply online on the HDFC Bank portal or submit hard copies.
- Fill in the application form.
- Give accurate details.
-
Documentation Requirements.
- KYC documents and Income documents.
- PAN Card, Aadhaar Card and Address proof.
- Bank Statement and Salary slip for 3 months.
-
Processing.
- CIBIL Check.
- Online and physical verification.
- Underwriting process for eligibility.
-
Disbursement of loan amount.
- Complete formalities via Aadhaar OTP e-sign.
- Set up e-NACH for automated EMI payments.
- Loan amount transferred by ECS (Electronic Clearing Service).
Disbursal.
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