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HDFC Bank is one of the most preferred banks in India for personal loans. Individuals looking for financial assistance can apply for HDFC personal loan. Personal loans can be availed for various financial requirements such as wedding expenses, dream vacation, home renovation and other miscellaneous purposes. 

Why should you get HDFC personal loans?

HDFC Bank offers a personal loan with unmatched features and benefits. HDFC personal loan has a very short and hassle-free personal loan application process. Borrowers can check their eligibility for HDFC Bank in 1 minute through online portals. Pre-approved customers of HDFC Bank can get their personal loan application approved in 10 seconds and other customers can get a loan in under 4 hours. 

7 Reasons to get a personal loan from HDFC Bank

Applicants who fulfil the HDFC personal loan eligibility criteria can enjoy the following benefits.  


  • Simple documentation: HDFC personal loan can be applied online with simple documentation and minimal paperwork. Borrowers can apply for HDFC personal loan with a few documents like identity proof, address proof, income proof and credit score. Pre-approved HDFC Bank customers may not need to get through any kind of paperwork. 
  • Collateral free personal loan: HDFC personal loan is an unsecured loan, which means borrowers don’t need to submit any asset against the loan amount you avail. The bank checks your income, financial stability, employer or business to determine your repayment capacity. Minimal formalities are required to apply for  
  • Instant disbursal: Since HDFC personal loan is an unsecured personal loan, minimal formalities are required to get the loan. Existing customers of HDFC Bank can get a pre-approved personal loan in only 10 seconds. Eligible non-HDFC customers can get personal loans within 4 hours.
  • Lower interest rates: HDFC personal loans have lower interest rates as compared to other lenders in the market. Individuals who have a good credit score, high income and stable job can get a personal loan at more favourable terms. 
  • Flexible and easy repayment: HDFC Bank personal loans are available for a flexible repayment tenure. Repay HDFC personal loan in easy equated monthly instalment (EMI) over flexible repayment tenure ranging from 12 to 60 months. HDFC Bank personal loan EMI starts from as low as Rs 2,187per lakh.  
  • No restriction on the end use of the fund: At the time of loan application and disbursal, the bank doesn’t ask the reason for getting the fund. Borrowers enjoy full freedom to use it as they like as long as they use it for any legal purpose. You can avail the loan for holiday, wedding, purchase of latest gadgets, home renovation, medical expenses, business investment etc.
  • Personal loan balance transfer benefits: Individuals who have a personal loan with another lender can transfer their outstanding loan amount from the existing lender to HDFC Bank to enjoy better services and lower interest rate and EMIs. Here are the benefits of shifting a personal loan from the existing lender to HDFC Bank:


  • Interest rate as low as 11.49% 
  • Flat processing fee of Rs. 3999 

HDFC Bank personal loan interest rates and other charges

The bank offers personal loan at attractive interest rates for eligible borrowers. Here is a summary of HDFC personal loan interest rates and other charges:

Interest rates10.75% to 21.30% p.a.
Loan processing feeUp to 2.50% of loan amount subject to a minimum of Rs. 2,999 and maximum Rs. 25, 000
Prepayment chargesNo prepayment allowed before 12 EMI

After 12 EMI, prepayment charges % of principal outstanding

13 – 24 months: 4%
25 – 36 months: 3%
>36 months – 2% 

Credit assessment feesNot applicable

Note: Rates and charges are subject to periodic changes

HDFC Bank personal loan eligibility criteria

You need to fulfil HDFC personal loan eligibility criteria to get the loan from the bank. HDFC personal loan eligibility criteria are very simple. Any Indian who fulfils the following conditions can get a personal loan from the bank. 

  • Age limit: Individuals aged between 21 and 60 years old can apply for HDFC personal loans.
  • CIBIL score: Must have a good credit score.
  • Profession: Applicant should be working public sector companies or reputed private limited companies.
  • Employment: Individuals need to have a job experience of at least 2 years and should be drawing a salary for at least one year from the current employer. 
  • Minimum monthly income: Individual who earn a minimum income of Rs. 15, 000 per month (Rs. 20,000 in Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Pune, Kolkata, Ahmadabad, Cochin) can apply for HDFC Bank personal loan. 

  Documents required to get HDFC Bank personal loans:

HDFC personal loan documentation process is very simple and minimal. Here is a checklist of documents you would need to submit to apply for the loan:

  • Identity proof: One of – Aadhaar card/ voter’s identity card/ passport/ driving license
  • Resident proof: One of – Electricity bill/ water bill/ telephone bill (not more than 3-month older)
  • Bank statement of the previous 3 months with salary credit
  • Latest salary slips and current dated salary certificate along with the latest Form 16

HDFC Bank is one of the premier banks in India. The offers personal loans at very attractive rates and documentation process is very simple. What other reasons would one need to get a personal loan in a financial emergency. 

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