HDFC Bank Personal Loan
The repayment period for HDFC Bank personal loans extends from six years while their interest rates begin at 10.85% p.a. for loans capped at ₹40 lakh. Personal loan borrowers at HDFC Bank can benefit from balance transfer through refinancing their debts at lower interest rates from other institutions. HDFC Bank provides Golden Edge Personal lending as a luxurious borrowing option designed for individuals who earn minimum ₹75,000 per month. The scheme suits high-income professionals needing big loan sums and competitive rates due to its loan range from ₹10 lakh to ₹40 lakh.
Features of HDFC Bank Personal Loan
Collateral free
You can obtain HDFC Bank personal loans unsecured because they do not demand any form of security or collateral.
Quick disbursement
Your loan amount will reach you within 24 hours after the approval through quick disbursal services.
Interest rates
You can seek competitive interest rates depending on your eligibility and credit standing which fall between 10.85% p.a. and 21.00% p.a.
Insurance coverage
Borrowers may buy the Sarv Suraksha Pro policy from HDFC Bank for accidental death or permanent disability defense together with both accidental hospitalisation benefits and a credit shield cover.
Optical insurance coverage
An optional insurance protection allows you to get monetary coverage for personal accidents and serious illnesses.
HDFC personal loan interest rates
Standard personal loans: Start at an interest rate of 10.50% per annum.
Golden Edge personal loan: Interest rates are subject to the applicant's credit score, monthly income, job profile, and the profile of their employer.
Final interest rate determination: Depends on factors including credit score, monthly income, job profile, and employer profile.
HDFC personal loan: interest rates for different schemes explained
HDFC Bank personal loan interest rates for its various schemes are outlined below.
| Types of Personal Loan | Rate of Interest (p.a.) |
| HDFC Bank Marriage Loan | 10.85-24% |
| HDFC Bank Personal Loan for Home Renovation | 10.85-24% |
| HDFC Bank Personal Loan for Teachers | 10.85-24% |
| HDFC Bank Personal Loan for Salaried | 10.85-24% |
| HDFC Bank Personal Loan for Government Employees | 10.85-24% |
| HDFC Bank Personal Loan Balance Transfer | 10.85% |
| Other HDFC Bank Personal Loans | 10.85-24% |
Source: Paisabazaar
HDFC Bank personal loan: A guide to processing fees and charges
The following fees and charges are applied by HDFC Bank on personal loans:
| Fees | Charges |
| Processing Charges | Up to ₹6,500 |
| Stamp Duty and other statutory charges | As per the laws of the state |
| Overdue EMI Interest | 2% per month on EMI/principal overdue |
| Legal/Incidental Charges | At actuals |
| Amortization Schedule Charges | ₹200 |
| Cheque Swapping Charges | ₹500 |
| Cheque Bounce Charges | 1st return at ₹450 + taxes 2nd in a month ₹500 + taxes 3rd onwards ₹550 + taxes 10% discount for senior citizens ₹550 per cheque bounce |
| Loan Cancellation Charges Rebooking Charges | NIL ₹1000 |
| Pre-payment in Part/Full | Part-payment allowed up to 25% of Principal outstanding. It is allowed once in the financial year and twice during the loan tenure. |
| Pre-payment Charges on Principal Outstanding/Part Payment Charges | Salaried: Up to 24 EMI – 4% of outstanding principal Post 24-36 EMI – 3% of outstanding principal Above 36 EMI- 2% of outstanding principal |
Source: Paisabazaar
HDFC Bank Personal Loan Eligibility Criteria
To qualify, applicants must meet the following HDFC Bank personal loan eligibility requirements:
Employment Status: Applicants must be employed by private limited companies, public sector undertakings, or central, state, or local government bodies.
Age Requirements: Applicants need to be at least 21 years old when applying and should not exceed 60 years of age by the time the loan matures.
Work Experience: A minimum of 2 years of total work experience is required, with at least 1 year spent with the current employer.
Income Criteria:
- For those with a salary account at HDFC Bank: A minimum monthly income of ₹25,000 is necessary.
- For applicants without an HDFC Bank salary account: The minimum monthly income requirement is ₹50,000.
Credit Score: Eligibility also depends on the applicant’s credit score, which plays a crucial role in the loan approval process.
HDFC Golden Edge Personal Loan Eligibility Criteria
The HDFC Golden Edge Personal Loan is designed for those with higher income levels and comes with specific eligibility requirements:
Employment Status: This loan is available to employees of private limited companies and public sector undertakings.
Age Requirements: Applicants must be at least 21 years old when applying and should be no older than 60 years at the time of loan maturity.
Income Criteria: A minimum monthly income of ₹75,000 is required to qualify for the Golden Edge Personal Loan.
Work Experience: Applicants should have at least 2 years of total work experience, including a minimum of 1 year with their current employer.
Meeting these criteria ensures that applicants are well-positioned to receive the personal loan that best suits their financial needs.
HDFC Bank Personal Loan Document Required
When applying for a personal loan from HDFC Bank, you'll need to provide several key documents to complete the process. Here’s a comprehensive list of the required documents:
General Document Requirements
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Identification Proof:
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Aadhaar card
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Driving licence
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Voter ID
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Passport
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Address Proof:
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Aadhaar card
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Driving licence
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Voter ID
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Passport
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Bank Statements:
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Statements for the last 3 months
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Alternatively, an updated passbook showing transactions for the past 6 months
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Income Proof:
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Recent salary slips
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Latest salary certificate
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Form 16 from your employer
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Additional Documents for Golden Edge Personal Loan
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Identification Proof:
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Photo ID (from the list above)
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Company ID Card:
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Issued by your current employer
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PAN Card:
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A copy of your Permanent Account Number (PAN) card
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Salary Documentation:
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Salary slip from the last 3 months
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Salary account statement from the past 3 months
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Form 16 from the previous financial year
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Having these documents ready will help streamline your application process and increase the chances of a smooth approval.
HDFC Bank Personal Loan EMI Calculator
The HDFC Bank Personal Loan EMI Calculator is a handy tool designed to help you determine your Equated Monthly Instalments (EMIs) and the total interest payable over the life of your loan. By inputting details such as the loan amount, interest rate, and the duration of the loan, you can quickly obtain precise calculations. This tool enables you to plan your finances better by providing a clear picture of your repayment schedule and total interest costs.
Compare HDFC personal loan interest rates with other banks
| Bank | Interest rate |
State Bank of India | 11.45% onwards |
Bank of Baroda | 11.15% onwards |
Axis Bank | 11.1% onwards |
ICICI Bank | 10.85% onwards |
IDFC Bank | 10.99% onwards |
IndusInd Bank | 10.49% onwards |
PNB Bank | 11.15% onwards |
Union Bank of India | 11.50% onwards |
Yes Bank | 11.25% onwards |
Bank of India | 10.85% onwards |
Canara Bank | 10.70% onwards |
Kotak Mahindra Bank | 10.99% onwards |
Bandhan Bank | 9.47% onwards |
Federal Bank | 11.49% onwards |
Indian Bank | 10.75% onwards |
IDBI Bank | 11.00% onwards |
| AU Bank | Based on customer’s profile |
Calculate EMI on Personal Loan
Loan Amount
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Rate of Interest
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Loan Duration
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