HDFC Bank Personal Loan

HDFC Bank offers Personal Loans for both self-employed and salaried individuals ranging from Rs. 50,000 to a maximum limit of Rs. 15 lakhs amount with loan tenure ranging from 12 months to 60 months and a competitive interest rate. HDFC Bank offers one of the best personal loan services in India. Personal loan from HDFC can be used for any immediate or short term financial needs like home renovation null, wedding expenses, medical expenses, overseas travel, and starting new business or even in times of unexpected financial need in the family.

HDFC Bank Personal Loan Eligibility

• Interest Rate 11.99% to 18.50% for salaried. Get lower rate offers for employees of large reputed companies
• Personal loans for businessmen and Lowest EMI of Rs. 2224 per lakh
• Processing fee of 0.25% to 1.50%; Min - Rs. 999, Max - Rs. 25000
• Loans upto Rs. 1,500,000 for salaried and upto Rs. 1,500,000 for self-employed
• Applicants are between 21 and 60 years of age
• In case you are salaried, you are in a full time job for at least 24 months of which not less 12 months must be with your current company
• In case you are self-employed, you must be in current profession or business for at least 3 years and should preferably be owning either your office or your place of residence. Minimum turnover and minimum net income criteria may apply
• HDFC Bank does not specify any particular CIBIL score for being eligible for a personal loan, it is observed that a score of 750 and above is desirable

HDFC Bank Personal Loan EMI Calculator

Calculate your monthly installment with the easy to use HDFC Bank personal loan EMI calculator. Remember to key in all the eligibility criteria such as the amount, the type of loan plan and the repayment period correctly so that you know exactly how much you will pay.

HDFC Bank personal loan EMI calculator is the best way to calculate your EMI-

E = P x r x (1+r)^n/((1+r)^n – 1)
In the above mentioned formula,

• E stands for the actual amount you need to pay every month.
• P is the amount of loan that you have borrowed from bank.
• r is the monthly interest rate for the loan
• n is the tenure of the loan considered in months

HDFC Bank Personal Loan Documents Required for Salaried

• Filled up loan application form
• 2 Passport Size Photo
• Copy of Income Tax PAN
• Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
• Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
• Income Documents – 3 months payslip, 2 years Form 16, 3 months bank statement showing salary credit and any EMI debit

HDFC Bank Personal Loan Documents Required for Self-Employed

• Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
• Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
• Income Documents – 2 years audited financials, 6 months bank statement
• Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof
• Filled up loan application form
• 2 Passport Size Photo
• Copy of Income Tax PAN

Prepayment, Foreclosure, Balance Transfer, Top up Personal Loan

• Part prepayment of HDFC Bank personal loan is not permitted
• Foreclosure or full prepayment is allowed after 12 EMIs. Prepayment charges vary by year: 2nd year - 4%; 3rd year - 3%, after 3 years - 2%
• HDFC Bank offers personal loan balance transfer from another bank if you have paid at least 12 EMIs regularly on your existing loan. This is subject to your meeting other eligibility criteria of HDFC Bank
• You can avail additional top-up personal loan from HDFC Bank, subject to your eligibility

Why Anyone Apply for HDFC Personal Loan on CreditNation.in?

HDFC Bank has collaborated exclusively with CreditNation.in, India’s best and trustful financial online marketplace to offer loan applicants in submitting their application online. Users seeking personal loans with HDFC Bank can now simply use the online loan application tool at CreditNation.in to check their documents, loan eligibility and submit their loan applications if eligible.

Instant Loan Eligibility Check: The loan calculator at Credit Nation checks for personal loan eligibility for each applicant as per his or her financial details. This quick loan eligibility makes sure customers do not spend a couple of days to know their eligibility for a personal loan. They can also apply online here for the personal loan without visiting the bank branch.

Personalized Quotations for Loan: CreditNation’s loan calculator tool offers personalized loan for each applicant depending on his or her desired amount of loan, tenure and personal financial record.

Low Interest Rates: Loan applicants using CreditNation.in personal loan tool are getting the best rate of interest for their personal loan because of the active collaboration between HDFC bank and CreditNation.in.

Instant Approval: Eligible candidates who apply for HDFC Bank Personal Loan through CreditNation platform are given an instant e-approval, making them assured that their loan application has been processed, approved and forwarded to the Personal loan department of the bank.

Real Time Tracking Facility: Users who submit their application for loan online using CreditNation.in can track their loan updates of their submission form using both email and SMS updates.

24/7 Customer Support: CreditNation.in has a dedicated 24/7 customer support team and helpline who is always ready to help with any grievances or questions from loan applicants.