HDFC Personal Loan

HDFC Personal Loan

The Housing Development Finance Corporation Limited was amongst the first to receive an ‘in principle’ approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of RBI’s liberalisation of the Indian Banking Industry in 1994. It was incorporated in August 1994 in the name of HDFC Bank Limited, and it has its office registered in Mumbai.

We all are waiting for that light which will bright up our world again without being under the debt of financial dilemmas. For that all we need is Personal Loan which will be our saviour for every gloomy day we have been facing.

It is an unsecured loan which will help a person to fulfil his multipurpose requirement according to the need of the hour. It has a nominal rate of interest starting at 10.75% per annum which will never be a burden on your shoulder.

HDFC Bank Personal Loan Eligibility Criteria

It depends upon several measures such as payback capabilities, Credit Score, pay slip, etc. There are two categories:-

Self Employed Applicant

  1. Firstly, the age of an individual must be 25 years.
  2. Secondly, an individual applying for a Personal Loan should file Income Tax Return for the last three years.
  3. Besides this, a credit score of an individual should be up to the mark that is 650 and above.
  4. Moreover, the minimum amount should be of Rs 2.5 lakhs per annum at least.
  5. In addition to this, if a person is a businessman than his business should be running from last three years.
  6. Lastly, an individual has to submit his financials and his bank statement for the previous three months.

Salaried Applicant

  1. Firstly, the minimum age should be 21 years and maximum of up to 60 years.
  2. Secondly, an individual from the metropolitan city should possess a minimum income of Rs 18,000, and for an individual who is living in non-metropolitan city, the minimum salary should be Rs 12,000.
  3. Moreover, an individual must have three years of work experience, and the salary should be received in their account only.
  4. Besides this, an individual applying for the Personal Loan must have a good credit history.
  5. Lastly, a person has to submit his bank statement for the last three months and salary slip of the previous six months.

HDFC Personal loan Advantages

  1. Here, minimal paperwork is needed.
  2. Transfer of existing loan is possible.
  3. Flexible repayment options are available.
  4. It is a hassle-free process with nominal interest rate.
  5. It has a fast approval.
  6. Disbursal of Loan is available within 72 hours after the submission.
  7. Part prepayment facility is available.
  8. Lucrative interest rate.
  9. No cosigner is needed.
  10. Flexibility in repayment options.

HDFC Personal Loan Documents

Photo identity proof includes any of these (Pan Card / Passport/ Aadhaar Card / Voter Identity Card / Driving License.

Address Proof includes any one of these (Passport / Ration Card / Driving License/ Bank Account Statement / Aadhaar Card / Telephone Bill Sale Deed/ Electricity Bill / Property purchase agreement (for owned properties).

Income Proof includes:-

For Salaried Individuals: Last three months/Six months’ bank statement (dependent on the scheme) Showing Salary Credits /Latest Salary Slip.

For Self-Employed Individuals: Two years of Income Tax Return/P&L / and Balance Sheet for the last two years/Last Six Months’ Bank Statement.

Business Proof includes:-For Self Employed Individuals: Qualification Certificate/ Certificate of Practice, Shop Act License/ Memorandum Of Association & Article Of Association/ Sales Tax/ VAT Registration/ Partnership Deed.

HDFC Personal Loan Interest Rate

For Self Employed:

  1. An individual business must be in existence for a minimum period of 3 years.
  2. The company’s Profit After Tax for the last two years should be positive.
  3. Minimum Age of an individual should be 28 years, and the maximum Age should be 68 years, at the time of loan maturity.

For Salaried Individuals:

  1. The minimum age of an individual must be 23 years, and the maximum Age should be 58 years, at the time of loan maturity.

HDFC Bank Personal Loan Tenure

The tenure of the Personal Loan is 1 to 5 years.

Why your decision of choosing Bestloandeal is the right decision?

  1.  Firstly, our assistance is free of cost.
  2.  Secondly, the approval process is time-saving if you apply through Bestloandeal.
  3. Furthermore, you can avail our services 24/7.
  4.  Moreover, the Loan gets disbursed within 24 hours.
  5. Our relationship manager will assist you and will help you to avail the right offer.

How to apply for HDFC Bank Personal Loan?

  1. Visit
  2. After that, you have to fill the personal loan form, and our expert relationship managers will contact you.
  3. Furthermore, we will tell you regarding details of the Personal Loan, where you can choose your preferred city.
  4. Lastly, we will provide you our assistance until the end of the process, until you are not satisfied.