How to Apply for an HDFC Personal Loan: Process, Eligibility & Benefits

HDFC Bank offers personal loans that are quick, convenient, and hassle-free. Whether you need funds for a wedding, medical emergency, travel, or any personal need, HDFC provides unsecured loans with flexible repayment options. Here’s a complete guide on how to get a personal loan from HDFC Bank in simple steps.

1. Eligibility Criteria

Before applying, ensure you meet the eligibility requirements:

• Salaried individuals working in the private sector, government, or public sector companies.

• Age between 21 to 60 years.

• Minimum monthly income: ₹25,000 in metro cities and ₹20,000 in non-metros.

• Must have at least 1 year of work experience, with at least 6 months in the current job.

• Good credit score (usually 700 and above) is preferred.

2. Documents Required

You’ll need the following documents:

• Identity proof: Aadhaar card, PAN card, Passport, or Voter ID.

• Address proof: Utility bill, Aadhaar, Passport, or rental agreement.

• Income proof: Latest 3 months’ salary slips and 6 months’ bank statement.

• Form 16 or ITR (if applicable).

• Recent passport-size photograph.

3. Loan Amount and Tenure

• Loan amount ranges from ₹50,000 to ₹40 lakhs.

• Flexible tenure of 12 to 60 months.

• Interest rates typically start from 10.50% to 21% per annum, depending on your profile.

4. How to Apply

a. Online Application

• Visit the HDFC Bank Personal Loan page.

• Click on “Apply Now”.

• Enter personal, employment, and income details.

• Upload documents and submit the form.

• Get instant loan eligibility and approval in minutes (if eligible).

b. Through HDFC Mobile App or NetBanking

• Existing HDFC customers can check pre-approved offers.

• Apply directly with minimal documentation.

c. Visit the Branch

• Visit the nearest HDFC Bank branch with required documents.

• Bank representative will guide you through the process.

5. Approval and Disbursal

• After document verification and eligibility check, approval may be given within a few hours to 2 working days.

• Loan amount is disbursed directly to your bank account.

6. Key Benefits

• No collateral or guarantor required.

• Pre-approved offers for existing customers.

• Digital documentation and quick processing.

• Option to foreclose or part-pay the loan.

7. Things to Keep in Mind

• Ensure timely EMI payments to avoid penalties and damage to your credit score.

• Read all terms and conditions, especially about processing fees (up to 2.5%), foreclosure charges, and interest calculation