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Personal Loan

HDFC Bank offers personal loan to cater various financial requirements such as overseas traveling, medical emergencies, wedding expenses, debt consolidation, etc. Quick approval, attractive interest rates, low processing charges and transparency are some of the features that make HDFC Bank Personal Loan a preferred choice amongst many borrowers. In addition to this, HDFC Bank personal loan provides seasonal offers, which can further reduce the payable EMI on the borrowed amount.

HDFC Bank Personal Loan Interest Rate and Charges


For Salaried

For Self-Employed

Interest Rate

10.99% onwards

10.99% onwards

Loan Tenure

Up to 5 years

Up to 5 years

Loan Amount

Min. Rs. 50,000

Min. Rs. 50,000

Processing Fee

2.5% of loan amount, min. Rs.1999, max. Rs. 25,000

2.5% of loan amount, min. Rs.1999

Pre-payment Charges

Between 2% and 4% of the amount prepaid

Based on individual customer profile

Foreclosure Charges

Between 2% and 4% of outstanding principal

Between 2% and 4% of the part-payment amount

*The above information is indicative and liable to periodic change

HDFC Bank Personal Loan Benefits and Features

HDFC Bank offers various benefits on personal loans. Some of them are:

  • Personal Accident Cover
For a nominal premium, borrowers can get a personal accident cover and critical illness cover of up to Rs. 8 lakhs and Rs. 1 lakh respectively. For these policies, the premium will be deducted from the loan amount at disbursal. Applicable taxes and surcharge/cess will be charged extra.
  • Personal Loan Security
Personal loans approved by HDFC Bank come with an added benefit of Sarv Suraksha Pro, a policy offered by HDFC Ergo GIC Ltd. Key benefits of this policy includes personal accidental hospitalisation cover of up to 8 lakhs along with accidental death/permanent disablement cover of up to 1 lakhs.
  • Easy Loan Balance Transfer
Transfer your existing personal loan balance to HDFC Bank and enjoy lower EMI’s.
  • Part-payment Facility
HDFC bank customers can partly pay their loan after a year (12 EMIs). Customers can partly pay the loan amount twice during the tenure and once in a year. Also, each part payment will not exceed 25% of the principle outstanding.
  • Minimal Documentation
HDFC Bank personal loans are famous for their quick processing and disbursal, which is possible because it requires minimal documentation.
  • Attractive Interest Rates
HDFC offers personal loans at competitive interest rates, which starts at as low as 10.99%.
  • Quick Loan Disbursal
Once the bank verifies all documents that you had submitted, the loan amount will be disbursed in a working day.
  • Dedicated customer support

If you have queries or require assistance regarding personal loan, you can reach out to the bank via SMS, Webchat, Click2Talk and PhoneBanking.

HDFC Bank Personal Loan Eligibility

The following people are eligible to apply for HDFC Bank Personal Loan:

  • Salaried doctors, CAs and other employees of private limited companies.
  • Employees from public sector undertakings (including central, state and local bodies).
  • Individuals between 21 and 60 years of age.
  • Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer.
  • Individuals who earn a minimum of Rs. 15,000 net income per month (Rs. 20,000 in Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Cochin).

HDFC Bank Personal Loan Documentation

Along with your personal loan application, the following documents are also required to be submitted:

  • Proof of Identity – Aadhaar, Copy of Passport/Voter ID card /Driving License. Any one of the document can be submitted as a valid Identity Proof because all the listed documents have the individual’s photograph along with his or her name against the photograph proving the identity of the applicant.
  • Proof of Address – A copy of Ration Card/Electricity or Telephone Bill/Rental Agreement/Passport. The applicant needs to submit any one of the afore-mentioned documents which state the correct address of the applicant needed for the verification process of the bank.
  • Bank Statement – Last 3 months’ bank statement or last 6 months’ bank passbook. These documents are needed to verify the applicant’s income status prior to making the application for loan which also depicts the individual’s financial picture thus showing how credit worthy they are.
  • Proof of Salary – Latest Salary Slip or current dated Salary Certificate with latest Form 16 which is used to legally depict the current net salary of the individual and to check whether it matches the level of minimum net monthly income as laid down in the eligibility criteria checklist.

Apply for HDFC Bank Personal Loan at Paisabazaar.com

Apply for HDFC Bank personal loan at Paisabazaar.com in 4 simple steps:
Step 1: Fill out the ‘Personal Details’ form. Agree to the terms of use and proceed.

Step 2: Fill out the ‘Eligibility Check’ form and proceed to view the best offers. The tool checks for your personal loan eligibility instantly as per HDFC's norms and offers customized loan options available to you.

Step 3: Compare and choose a loan offer that best suits your requirements and repayment capacity.

Step 4: Fill out the ‘e-Approval’ form and submit it. You will receive an instant e-approval with a reference number, which you must save for future reference.

Once you successfully apply for HDFC Bank Personal Loan at our website, we will forward your application electronically to the HDFC Bank. The bank on receiving the application will get in touch with you to take the process further.

HDFC Personal Loan EMI Calculator

EMI (Equated Monthly Instalment) is the amount that borrowers need to pay every month to pay off loan amount. Before applying for personal loan, it is important to calculate loan EMIs. Doing so will help you be aware of the total expenses you are going to bear every month. Also, it will help you plan your monthly expenses in advance.

You can calculate personal loan EMIs manually; however, using a personal loan EMI calculator for the same can make your task easier and more convenient. Paisabazaar.com has an online Personal Loan EMI Calculator that is user-friendly and will give you results in a few seconds.

You will need to enter the loan amount, interest rate for your loan, and processing fee for different loan tenures. You will get different results for different loan tenures. You can change the loan amount and interest rate also. If you are planning to make a pre-payment, you can enter details associated with that also.

To calculate EMIs using our Personal Loan EMI Calculator, follow these steps:

Frequently Asked Questions (FAQs)

Q – For what all purposes HDFC Bank Personal Loan can be utilized?
A – HDFC Bank has not specified what personal loans can be used for. However, they prohibit its use for speculative investment and practices. Mostly personal loans are used for moderate to big expenses such as vacations, wedding, medical emergencies and debt consolidation.

Q – How much can I borrow from HDFC Bank on personal loans?
A – HDFC Bank offers personal loans in absolute values ranging from Rs. 50,000 to Rs. 40 lakhs. However, the actual amount that will be granted entirely depends on the applicant’s profile.

Q – What is the repayment tenure of HDFC Bank personal loan?
A – The tenure for HDFC Bank personal loan is between 1 and 5 years. The applicant may choose any period which is within this limit to repay the borrowed amount. The EMI would be decided based on the tenure of repayment chosen by the borrower. Higher tenure would imply a lower EMI and vice-versa.

Q – How can I repay my HDFC Bank personal loan?
A – You can repay the loan in EMIs either through post-dated cheques or ECS (Electronic Clearing Service). You can also give a standing instruction to debit your HDFC Bank account with the EMI amount.

Q - Can I repay my personal loan earlier?
Yes, you can choose to repay your loan any time after you have paid 12 EMIs. You can foreclose the loan by issuing a Demand draft or cheque at the branch. However, cash beyond Rs. 49000/- will not be accepted for part prepayment, full payment or matured loan closure payment. Payment above Rs. 49000 should be made through Account payee cheque, Pay order or Demand draft.

Q – Can HDFC Bank personal loan be partly prepaid?
A – Yes. HDFC Bank allows borrowers to partly pay their loan amount. However, part payment can only be done after the borrower has paid 12 EMIs. Borrowers can partly prepay maximum twice during the entire tenure and only once in a year. At any point, each part payment will not exceed 25% of the principal outstanding.

Q – What are the part payment charges applicable on HDFC Bank personal loan?
A – Charges applicable on part payment range from 4% to 2% of the part payment amount.

Q – What is the meaning of de-pledge?
A – Just as pledging means assigning a security in the name of the bank, de-pledging of the security has the opposite meaning. It means that the bank revokes its rights on the pledged property and the property reverts back in the name of the applicant.

Q – What are the additional charges on HDFC Bank personal loans?
A – Additional charges applicable on HDFC Bank personal loan include processing charges, pre-payment charges and late payment charges. Take these charges into consideration before applying for the loan.

Q – Does having a salary account with HDFC Bank entail any benefits in availing HDFC Bank personal loans?
A – If the applicant has an existing salary account with HDFC Bank and chooses to avail of HDFC Bank personal loan, the applicant can avail the benefit of preferential treatments in respect of the interest rate charged on the loan, relevant processing fee for the loan, faster loan processing and requirement of minimal documents. Standing instruction can also be given by the borrower to the bank to directly debit the money from the salary account to pay off the loan instalment.

Q – Under what reasons, my personal loan application can be rejected?
A – Loan approval or rejection is at the lender’s discretion. Some of the possible reasons for personal loan application rejection are:

  • Low credit score
  • Defaulted on previous credit accounts
  • Multiple loans applications in short time
  • Multiple active loan accounts
  • Not under the allowed age limit
  • Improper/incorrect documentation
  • Unstable employment
  • Insufficient income
  • Insufficient employment history
HDFC Bank Personal Loan
(4.3/5 ) 11 Reviews
Personal LoanPersonal Loan


My approval got delayed as there was some issue with my documents, however it got resolved within a week. This delayed my loan approval. The website is really simple and I applied for my HDFC personal loan in just 2 minutes. I provided my personal de..Read more...

Male Profile Pic
Posted on: Jan 30 , 2017
Personal LoanPersonal Loan

Very good services

The services by HDFC have always been very good and the bank is very quick in replying. I have had my salary account in HDFC since 4 years and I am very happy with their services. Recently, I applied for a personal loan to travel abroad and I got my ..Read more...

Male Profile Pic
Posted on: Jan 17 , 2017
Personal LoanPersonal Loan

Interest rate is very low

My HDFC personal loan got approved at 11.49% only. The bank has very quick system of loan approvals and disbursals. I am very happy with the loan services by the bank.

Male Profile Pic
Posted on: Jan 11 , 2017