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Personal Loan from HDFC Bank

HDFC Bank Personal Loan
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HDFC Bank, which was inUnordered Listcorporated in 1994, is the fifth largest bank in India by assets. Over the years HDFC Bank has won the trust of its customers and has become a market leader in Personal Loans. There are number of times when you need quick money for a number of reasons, it could be a 

  • Medical emergency, or 
  • Housing renovation, 
  • Foreign holiday, 
  • Family wedding or any other such thing.

Benefits of taking Personal Loans from HDFC Bank through Loanmoney.in are:

  • Industry Lowest Rates of Interest. No changes in rates for entire tenure.
  • Fast loan approval as easy documentation process 
  • No Hidden charges with 100% transparency
  • Maximum loan to Rs 50 Lac 
  • Flexible repayment options, ranging from 12 to 60 months

Quick Form for Personal Loans in Delhi NCR you can Click here...


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  Salaried Self Employed Professional
Age 21 - 60 24-60 25-65
Loan Amount Rs. 1 Lacs to Rs.50 Lacs 1-40 Lacs 1-40 Lacs
Tenure  12 - 60 Months 12-60 Months 12-60 Months
Rate of Interest / APR [Annual Percentage Rate] New Loan - 10.75 %; Balance Transfer -10.49% with Nil Fees Transfer - 12% onwards : Fresh 14 - 16%
Eligibility
  • Loan Amount Up to 30* times of Net Salary.
  • Spouse Income clubbed*
  • Loan on Turnover and Profit Margins
  • Loan Amount Up to 2.5 times of Gross Receipts or 4 times for Net Profits.
  • Spouse Income clubbed* to Get best Loan Amount, Lowest Rates & Processing Fees.
  Salaried Self Employed Professional
Age 21 - 60 24-60 25-65
Loan Amount Rs. 1 Lacs to Rs.50 Lacs 1-40 Lacs 1-40 Lacs
Tenure  12 - 60 Months 12-60 Months 12-60 Months
Rate of Interest / APR [Annual Percentage Rate] New Loan - 10.75 %; Balance Transfer -10.49% with Nil Fees Transfer - 12% onwards : Fresh 14 - 16% Transfer - 12.50% onwards : Fresh 12 - 16%
Processing Fees Min Rs. 999/- to Max 2% of Loan Amount Fresh : 2% Balance Transfer: Rs. 999/- Fresh : 2% Balance Transfer: Rs. 999/-
Special Nil Foreclosure above 10 Lacs; Disbursement in 12 Hrs Unaudited Financial Considered CA's/ CS/ Engineer/Architects
Documentation Address / Identity / Income Proof * 3 Yrs Audited Financial/ KYC's Financial + KYC's + Professional certificate
Eligibility
  • Loan Amount Up to 30* times of Net Salary.
  • Spouse Income clubbed*
  • Loan on Turnover and Profit Margins
  • Loan Amount Up to 2.5 times of Gross Receipts or 4 times for Net Profits.
  • Spouse Income clubbed* to Get best Loan Amount, Lowest Rates & Processing Fees.

Personal Loan Eligibility in Delhi NCR through LoanMoney 

Eligibility of HDFC Personal Loan relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are:

Age of the borrower: Age plays an important role to know your eligibility and repayment capacity. HDFC Bank offers loan to salaried individuals who are at least 21 years old at the time of loan approval and maximum 60 years at the time of loan maturity. Quick Form for Personal Loan in Delhi NCR Click here 

Income of the borrower: HDFC Bank asks for a minimum net monthly income of Rs. 15,000 to be eligible for personal loans. Salaried employees in government job, defence or working with a reputed private company and getting regular salary in bank account with salary slip, Form 16 can get personal loans easily. 

Job stability and Profession: Job stability is important to improve your eligibility for Personal Loan from HDFC Bank. In case you are salaried, you must be in a full time job for at least 12 months of which not less 24 month must be with your current company. 

CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your HDFC Personal Loan eligibility. If you have a poor repayment record, then you may find it difficult to get HDFC personal loan. A regular repayment track record increases your loan eligibility. Quick Form for Personal Loan in Delhi NCR Click here 

Loan Amount: Based on the loan amount eligibility, bank gives you loan ranging from Rs. 50,000 to Rs. 50,00,000. To improve chances of approval, apply for a loan amount that you can comfortably service. 

Fixed Obligations to Income Ratio (FOIR): Bank will also calculate the proportion of your fixed obligations (including EMIs paid on other existing loans) to your income to calculate the FOIR (Fixed Obligation to Income Ratio). In summary, fixed obligations include running EMIs, if any, on existing loans and estimated average monthly expenses. Minimum FOIR to be eligible for HDFC Personal Loan from the bank is 0.45. 

Particulars Salaried Self-Employed
Age(Min-Max) 23 - 60 years 25 - 65 years
Minimum Income Rs.15, 000 per month (net income) Rs.1 Lakhs p.a.
Co-applicant Not mandatory Not mandatory
Loan Tenure 12 – 60 months 12 – 60 months
Maximum Loan Amount Rs.50 Lac Rs.20 Lac (Up to Rs.50 Lac in selected locations).
Employment/Business Continuity Have had a job for at least 2 years, and a minimum of 1 year with your current employer. 4 years Post Qualification experience for Doctors/ Chartered Accountants. 5 years Post Qualification experience for Company Secretary / Architect.
CIBIL Score 700 and above 750 and above

Know more about HDFC Bank Persoan Loan Eligibility Click here

Know more about HDFC Bank Personal Loan in Delhi NCR through LoanMoney

HDFC Bank Personal Loan Features & Benefits in Delhi/NCR
HDFC Bank Personal Loan Eligibility & Documentation in Delhi/NCR
HDFC Bank Personal Loan Interest Rates and Charges in Delhi/NCR
HDFC Bank Personal Loan Frequently Asked Questions (FAQ) in Delhi/NCR


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Frequently Asked Questions (FAQ) for HDFC Bank Personal Loan in Delhi NCR through LoanMoney

Have a Question regarding Personal Loans? Check out Frequently Asked Questions about HDFC Bank Personal Loans. Find the answers to all your HDFC Bank Personal Loan queries and Get your clarification right here. Quick Form for Personal Loan in Delhi NCR Click here

How long can I take to repay my HDFC Personal Loan?
HDFC Personal Loan offers flexible repayment options ranging from 12 to 60 months, depending on the customer’s profile. 

How much can I borrow HDFC Personal Loan through LoanMoney?
You can take a loan ranging from Rs. 50,000 to Rs. 15, 00,000, depending on your income and repayment capacity. You can club your spouse’s income if you want to get a bigger loan..

How can I repay my HDFC Personal Loan through LoanMoney?
You pay the loan in equal monthly instalments (EMIs). The loan will be paid through post-dated cheques. You can also pay through ECS or a standing instruction to debit your HDFC Bank account with the EMI amount. Try LoanMoney for EMI calculator to calculate how much you need to pay each month.

What are the loan tenure options for Professionals Loan? 
You can repay your loan over a period of 12 to 60 months. Quick Form for Personal Loan in Delhi NCR Click here

How is my loan eligibility calculated? 

Loan eligibility is dependent on primarily the following factors:

  1. The company where you work. Every bank has a list of companies running into thousands which they have categorised into segments like A, B, C etc depending on the credentials and financials of your employer. The higher the category the higher is the loan eligibility chances.
  2. Quantum of loans and credit card outstanding that you already have. Typically a bank will not give a loan if the total EMI obligation (including the current Personal Loan that your are trying to apply for) exceeds 50-75% of your total net take home salary.
  3. Your gross/net salary
  4. Your credit score as reflected in your CIBIL or Equifax report. Having a good credit score is a necessary but not a sufficient criteria.

Documents required while applying for a HDFC Personal Loan? 
One need to provide an identity proof, residence proof, last 3 months salary slip, last 6 months bank statement and a passport sized photograph.  HDFC Banks may also ask for additional documents later like Form 16, appointment letter, company ID card, previous company relieving letter

Is part-prepayment of a Personal Loan allowed?
No, part prepayment is not allowed. The loan has to either be prepaid in full or serviced for the contracted tenure.

How does a Salary Account help me get a HDFC Personal Loan?
You get a preferential rate of interest and processing fee, speedy processing and minimal documentation if you have a Salary Account with HDFC Bank. This is taken into account at the time of disbursal of the loan. You can pay through a Standing Instruction to debit your HDFC Bank account with the EMI amount. Quick Form for Personal Loan in Delhi NCR Click here

Do I need to provide any security or collateral to obtain HDFC Personal Loan from HDFC Bank?
No you don’t have to provide any security, collateral or guarantee to obtain HDFC Personal Loan from HDFC Bank.

What is De-pledge?
Removal of a pledge from the security to regain the rights over the security is called de-pledge.

*Conditions Apply

What is Guarantor?
A Guarantor is a person who guarantees to pay for someone else's debt if he or she should default on a loan obligation.

What is Amortization?
Amortization is paying off debts in regular instalments over a period of time.

What is Pledge?
A right over the security is created in favour of HDFC Bank. Hence shares cannot be transferred or sold by the customer or shareholder.

What is RTGS?
RTGS is the Real Time Gross Settlement which is used for the transfer of amounts of Rs. 1,00,000 or more from one bank account to another bank account (any bank located anywhere in India if attached with an Internet system) at very minimal charges. The amount is credited into the beneficiary's account in real time. For amounts less than Rs. 1, 00,000 we use NEFT (National Electronic Fund Transfer).

What is NEFT?
The National Electronic Funds Transfer (NEFT) system is a nation-wide funds transfer system to facilitate transfer of funds from any bank branch to any other bank branch. Quick Form for Personal Loan in Delhi NCR Click here

What happens if I miss an EMI payment or there is an ECS bounce?
The bank will levy certain ECS bounce charges/penalties. In addition it will get reported in your credit report. Depending on the severity of the default it can have serious impact on your future credit possibilities like a home loan, car loan etc. In addition, the banks can also take legal action against the borrower.

How can I change the mode of repayment/ account for my loan?
In the event that you wish to change the mode of repayment/bank account for your loan repayment, you may visit the nearest the Retail Loan Service Centre and submit your request with the revised account mandate/instructions.

How can I get my address changed in my loan account?

  • In order to change your address in our records, you may visit the nearest Retail Loan Service Center and submit the following documents:
  • Request form for Address Change.
  • Self Attested copy of your revised address proof along with the original address proof for validation.
  • In case a bearer submits the request on your behalf, a bearer authorisation along with KYC documents (self attested copy and original for validation) of the bearer, i.e. Identity and Signature Proof like PAN Card, Aadhar Card, Driving License or Passport Copy will also need to be provided.

How do I obtain a Duplicate Repayment Schedule for my loan account?
You may obtain a Duplicate Repayment Schedule for your loan account, free of charge by registering for our Net Banking facility on www.hdfcbank.com and download the repayment schedule for your linked loan account.
Alternatively, you may visit the nearest Retail Loan Service Centre and submit the following documents

  • Request form for Duplicate Repayment Schedule.
  • Duplicate Repayment Schedule Charges of Rs.200/- favouring "HDFC Bank Ltd Loan Account No. <<          >>"
  • In case a bearer submits the request on your behalf, a bearer authorisation along with KYC documents(self attested copy and original for validation) of the bearer, i.e. Identity and Signature Proof like PAN Card, Aadhar Card, Driving License or Passport Copy will also need to be provided

What are the charges I have to pay to change the mode of repayment/ account for my loan?
A service charge of Rs.500 is applicable for changes in loan repayment instructions issued from non-HDFC Bank Account (ECS or PDC facility). A cheque /pay order/demand draft for Rs. 500 favouring “HDFC Bank Ltd Loan Account No.” will be required along with the revised set of repayment instructions. Quick Form for Personal Loan in Delhi NCR Click here

Are there any additional charges for loan repayment?
The additional charges (if any) are applicable in case you default or in case of SWAP (i.e. change the repayment mode). The charges are updated and can be viewed in the Fees & Charges section in the Bank’s website of each loan product.

How long will it take for my Personal Loan to be processed?
Once you submit your application form and the required documents as per Bank's criteria, you can expect our approval and disbursal within 5 working days, provided everything is in order. All loan approvals are at the sole discretion of the bank.

Know more about HDFC Bank Persoan Loan Frequently Asked Questions (FAQ) Click here

Know more about HDFC Bank Personal Loan in Delhi NCR through LoanMoney

HDFC Bank Personal Loan Features & Benefits in Delhi/NCR
HDFC Bank Personal Loan Eligibility & Documentation in Delhi/NCR
HDFC Bank Personal Loan Interest Rates and Charges in Delhi/NCR
HDFC Bank Personal Loan Frequently Asked Questions (FAQ) in Delhi/NCR


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HDFC Bank Personal Loan Documentation in Delhi NCR through LoanMoney

Personal loans are unsecured loans preferred for meeting the short term money requirement. They are helpful in fulfilling the monetary needs during any emergency situation. Getting loan directly from HDFC Bank includes a whole process of documentation, profile checks and approvals.

Learn more about the eligibility criteria and the documents required for availing a HDFC Bank personal loan.

The documentation for a HDFC Bank personal loan varies from individual to individual. The requirements are based on your profession, income and loan requirement. Quick Form for Personal Loan in Delhi NCR Click here

Documents for HDFC Bank Personal Loan

  • Proof of identity: Copy of passport/voter ID card/driving license
  • Proof of address: Copy of ration card/telephone or electricity bill/rental agreement/passport
  • Last 3 months bank statement/6 months bank passbook
  • Latest salary slip/ current dated salary certificate with the latest Form 16. Quick Form for Personal Loan in Delhi NCR Click here

Know more about HDFC Bank Personal Loan Documentation Click here

Know more about HDFC Bank Personal Loan in Delhi NCR through LoanMoney

HDFC Bank Personal Loan Features & Benefits in Delhi/NCR
HDFC Bank Personal Loan Eligibility & Documentation in Delhi/NCR
HDFC Bank Personal Loan Interest Rates and Charges in Delhi/NCR
HDFC Bank Personal Loan Frequently Asked Questions (FAQ) in Delhi/NCR


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HDFC Bank Personal Loan Interest Rates in Delhi NCR through LoanMoney

HDFC Personal Loan interest rates is one of the first parameters that one considers along with other value adds like pre-closure options, part payments etc. Interest rates are the rate at which the bank is willing to lend money to you which in turn is their source of income. Let us have a basic understanding of how Personal Loan interest rates are calculated. Quick Form for Personal Loan in Delhi NCR Click here

The Bank has deposits from customers like you in the form of Fixed Deposits, balance in the savings account and so on. The bank has a certain payout for these deposits. This payout is considered as the cost of capital for the banks and they lend at an interest higher than their cost of capital accounting for the risk involved with the customer who they are lending to.

HDFC Bank Personal Loan Interest Rates Charges

Enclosed below are HDFC Bank Personal Loan Interest Rates Charges

Fee Amount to be Paid
Rack interest rate Salaried - 10.75% to 20%
Loan processing charges Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 25000/- for Salaried Customers.
Prepayment Salaried - No pre-payment permitted until repayment of 12 EMIs
Pre-payment charges Salaried - 13-24 Months - 4% of Principal Outstanding, 25-36 Months - 3% of Principal Outstanding, 36 Months - 2% of Principal Outstanding
No Due Certificate/No Objection Certificate (NOC) NIL
Duplicate of No Dues Certificate/NOC NIL
Solvency Certificate Not applicable
Charges for late payment of EMI 24% per annum on amount outstanding from date of default
Charges for changing from fixed to floating rate of interest Not applicable
Charges for changing from floating to fixed rate of interest Not applicable
Stamp duty & other statutory charges As per applicable laws of the state
Credit assessment charges Not applicable
Non standard repayment charges Not applicable
Cheque swapping charges Rs 500/-
Amortization Schedule charges Rs 200/-
Loan cancellation charges NIL (However client would be charged interest for the interim period between date of loan disbursement and loan cancellation and processing fees would be retained.)
Cheque bounce charges Rs. 550/- per cheque bounce
Legal/incidental charges At actual
CIBIL Report Copy Charges Rs.50 per copy

 

Know more about HDFC Bank Personal Loan Interest Rates Click here

Know more about HDFC Bank Personal Loan in Delhi NCR through LoanMoney

HDFC Bank Personal Loan Features & Benefits in Delhi/NCR
HDFC Bank Personal Loan Eligibility & Documentation in Delhi/NCR
HDFC Bank Personal Loan Interest Rates and Charges in Delhi/NCR
HDFC Bank Personal Loan Frequently Asked Questions (FAQ) in Delhi/NCR


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About HDFC Bank Personal Loan

In 1995 HDFC Bank was incorporated, with its registered office in Mumbai, India. Its first corporate office and a full service branch at Sandoz House, Worli was inaugurated by the then Union Finance Minister, Dr. Manmohan Singh. HDFC Bank is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It has about 76,286 employees including 12,680 women and has a presence in Bahrain, Hong Kong and Dubai. HDFC Bank is the second largest private bank in India as measured by assets.

It is the largest bank in India by market capitalization as of February 2016. It was ranked 69th in 2016 BrandZTM Top 100 Most Valuable Global Brands. HDFC Bank provides a number of products and services which includes Wholesale banking, Retail banking, Treasury, Auto (car) Loans, Two Wheeler Loans, Personal loans, Loan Against Property and Credit Cards.


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Features of HDFC Bank Personal Loan

HDFC Bank Personal Loan Features in Delhi NCR through LoanMoney

HDFC Personal Loans are great when it comes to dealing with life’s financial challenges. There are number of times when you need quick money for a number of reasons, it could be a medical emergency, or an urgent housing renovation, a foreign holiday, a family wedding or any other such thing. Getting HDFC Bank Personal Loan not only helps you get by, quick repayment of it improves your credit score thus enabling you to take bigger help next time, in case the need arrives. Quick Form for Personal Loan in Delhi NCR Click here

Features and Benefits of HDFC Personal Loan

  • Interest rates for HDFC Personal Loan is allocated according to the customer's salary, the amount being borrowed, loan tenure and other Credit Record of Borrower
  • Check your HDFC Personal Loan eligibility online or at select branches in just 60 seconds. Once all your papers are submitted, the loan will be disbursed in just one working day.
  • Avail Attractive Interest Rates. Quick Form for Personal Loan in Delhi NCR Click here
  • Hassle-free Loans - No Guarantor / Security or Collateral required
  • HDFC Personal Loan requires minimum paper work and is often approved within 48 hours of submitting an application.
  • Credit Shield
  • Salaried Individuals working with an Indian or MNC private sector company/ Salaried Individuals working with government sector enterprises/ semi government sector enterprises/Indian Defence Services. Individuals working with public or private sector educational institutes or banks & financial institutions

Know more about HDFC Bank Personal Loan Features Click here

Know more about HDFC Bank Personal Loan in Delhi NCR through LoanMoney

HDFC Bank Personal Loan Features & Benefits in Delhi/NCR
HDFC Bank Personal Loan Eligibility & Documentation in Delhi/NCR
HDFC Bank Personal Loan Interest Rates and Charges in Delhi/NCR
HDFC Bank Personal Loan Frequently Asked Questions (FAQ) in Delhi/NCR


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Special Features & Benefits of HDFC Bank
  1. Quick Loan Approvals - Max 48 Hours
  2. Minimum Documentation
  3. Lowest Interest Rates for High salaried Customers Hassle-free Loans
  4. No Guarantor / Security / Collateral required
  5. Convenience of service at your doorstep.
  6. Credit Shield.
  7. Personal Accident Cover.
  8. Salaried Account Holders of HDFC gets Preferred interest rates, priority processing and simpler documentation.
  9. You can pay through Standing Instructions to debit your HDFC Bank account with the EMI amount.
Apply HDFC Bank Personal Loan

Personal Loan

It is a type of unsecured loan and helps to meet your current financial needs. You don't need any security/collateral while availing it. Personal Loan is your solution for instant cash and can be used for travelling, wedding, medical emergency, home renovation, or anything else.
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Home Loan

Home Loan is a Secured loan offered against the security of a house/property which is funded by the banks and NBFCs the property could be a personal property or a commercial one. Home loans consist of an adjustable or fixed interest rate and payment terms.
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Loan Against Property

Loan Against Property belongs to the secured loan category where the borrower gives a guarantee by using his property as security. Banks and financial institutions offer this LAP, which can either be a residential/commercial building or a piece of land.
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Business Loan

A Business Loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. Banks and other financial institutions are there to provide you with suitable lending assistance.
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