Looking to avail HDFC Bank personal loan? Here is every thing you need to know about it.

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HDFC personal loan interest rates begin from 10.25 percent onwards. The final rate of interest offered to the applications differs according to the monthly income, credit score, job profile, employer’s profile etc., of the applicant.

Comparison in between the HDFC bank and other NBFCs/banks

LendersRate of interest (per annum)
HDFC Bank10.25 – 21.00 percent
State Bank of India9.60 – 13.85 percent
Punjab National Bank7.90 – 14.50 percent
ICICI Bank10.50 – 19.00 percent
Kotak Mahindra Bank10.25 percent onwards
Axis Bank10.25 percent onwards
IDFC First Bank10.49 – 23 percent
IndusInd Bank11.00 percent onwards
Tata Capital10.99 percent onwards
Bajaj Finserv13.00 percent onwards

HDFC personal loan interest rates and charges

FeesCharges
Processing chargesUp to 2.50 percent of the loan is subject to a maximum of Rs 25,000 for the salaried individuals.
Stamp duty & other statutory chargesAccording to the state laws
Overdue EMI interest2 percent per month on principal/EMI overdue
Incidental/legal chargesAt actual
Amortization schedule chargesRs 200
Cheque bounceEffective from July 1st, 20211st return at Rs 4502nd in month Rs 5003rd onwards Rs 550 (10 percent discount for the senior citizen)
Loan cancellation chargesNIL
Cheque swapping chargesRs 500
Prepayment in full or partSalaried – Zero prepayments in full or part permitted until the repayment of twelve EMIs. Part-payment permitted up to 25 percent of principal outstanding. This is permitted just once in a financial year & twice during the loan tenure.
Prepayment Charges(on principal outstanding)
Part-payment Charges [on part-payment amount]
Salaried – 13 – 24 months – 4 % of principal outstanding,25-36 months – 3% of principal outstanding>36 months – 2% of principal outstanding

HDFC bank personal loan types

COVID personal loan

∙       Purpose: COVID linked treatment and expenses.

∙       Repayment tenure: Up to five years.

∙       Loan amount: Up to Rs 5 lakh.

Marriage loan

∙       Purpose: To mitigate the personal expenses of your marriage.

∙       Repayment tenure: 1 – 5 years

∙       Loan amount Rs 50,000 to Rs 40 lakh

∙       Processing charges: Up to 2.5 percent of the loan amount subject to a maximum of Rs 25,000 and a minimum of Rs 1,999 for salaried customers.

Travel loan

∙       Purpose: To mitigate the travel expenditures of the applicant.

∙       Loan amount: Up to Rs 40 lakh.

∙       Processing charges: Up to 2.5 percent of the loan amount, which is subject to a maximum of Rs 25,000 and a minimum of Rs 1,999 for the salaried customers.

∙       Loan repayment tenure: Up to 5 years.

Emergency loan

∙       Purpose: To mitigate any emergency expenditures like education expenditure, medical expenditure, wedding, or any unforeseen emergency.

∙       Repayment tenure: Up to five years

∙       Loan amount: Rs 50,000 – Rs 40 lakh

∙       Processing charges: Up to 2.5 percent of the loan amount, which is subject to a maximum of Rs 25,000 and a minimum of Rs 1,999 for the salaried customers.

Debt consolidation loan

∙       Processing charges: Up to 2.5 percent of the loan amount subject to a maximum of Rs 25,000 and a minimum of Rs 1,999 for the salaried customers.

∙       Purpose: For making the repayment towards different dues.

∙       Loan amount: Up to Rs 40 lakh.

∙       Loan repayment tenure: up to 5 years

Personal loan for the home renovation

∙       Purpose: To mitigate the expenditures linked to kitchen remodelling, sprucing, replacement of furniture, change in the electrical wiring, installation of the new fittings and fixtures and other home linked renovations.

∙       Loan amount: Up to Rs 40 lakh

∙       Loan repayment tenure: Up to 5 years

∙       Processing charges: Up to 2.5 percent of the loan amount, which is subject to a maximum of Rs 25,000 and a minimum of Rs 1,999 for salaried customers.

Personal loan for students

∙       Purpose: For the student to meet higher studies.

∙       Loan amount: Up to Rs 40 lakh

∙       Repayment tenure: Up to 5 years

∙       Processing charges: Up to 2.5 percent of the loan amount, which is subject to a maximum of Rs 25,000 and a minimum of Rs 1,999 for salaried customers.

Personal loan for teachers

∙       Purpose: For the teachers at government or private colleges and schools to mitigate any added overheads.

∙       Processing charges: Up to 2.5 percent of the loan amount, which is subject to a maximum of Rs 25,000 and a minimum of Rs 1,999 for salaried individuals.

∙       Loan amount: Up to Rs 40 lakh

Personal loan for women

∙       Purpose: To mitigate the financial requirements of women like travel, wedding, education, or other emergency expenditures.

∙       Repayment tenure: Up to 5 years.

∙       Loan amount: Rs 50,000 to Rs 40 lakh.

∙       Processing charges: Up to 2.5 percent of the loan amount, which is subject to a maximum of Rs 25,000 and a minimum of Rs 1,999 for the salaried customers.

Personal loan for the salaried

∙       Purpose: To mitigate the financial exigency for the salaried individuals.

∙       Repayment tenure: Up to five years.

∙       Processing charges: Up to 2.5 percent of the loan amount, which is subject to a maximum of Rs 25,000 and a minimum of Rs 1,999 for salaried individuals.

∙       Loan amount: Rs 50,000 to Rs 40 lakh.

Personal loan for government employees

∙       Purpose: The purpose is to meet the financial requirements of the government employees in situations of medical emergency, wedding, travel expenses etc.

∙       Loan amount: Up to Rs 40 lakh.

∙       Loan repayment tenure: Up to 6 years

∙       Processing charges: Up to 2.5 percent of the loan amount, which is subject to a maximum of Rs 25,000 and a minimum of Rs 1,999 for the salaried individuals.

Balance transfer option:

Purpose: for the existing personal loan of other banks or NBFC to avail HDFC personal loan at lower HDFC personal loan interest rates.

Processing charges: Beginning at Rs 3,999

HDFC bank personal loan eligibility criteria

∙       Private sector, public sector, central, state, and local bodies employees.

∙       Age: 21 to 60 years

∙       Applicant with nearly 2 years work experience and 1 year with the present employer

∙       Minimum net monthly income equals Rs 25,000

Documents needs for HDFC personal loan

∙       ID proof (driving license, Aadhaar card, passport, voter ID)

∙       Latest salary certificate/salary slip with the form 16

∙       Bank statement for previous three months (an updated passbook showing past 6 months transactions)

You can easily check your HDFC bank personal loan status once you have submitted your request for a personal loan through the HDFC app or by directly calling the branch for information about your status. 

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