HDFC Bank Personal Loan: Interest rate, steps to apply, maximum limit and other key details

A personal loan is a flexible financial solution that helps individuals meet urgent expenses like medical bills, home renovations, travel, or debt consolidation. Unlike home or car loans, personal loans are unsecured, meaning they do not require collateral. With various banks and financial institutions offering personal loans, it’s important to choose a lender that provides quick processing, competitive interest rates, and easy repayment options. One such trusted lender is HDFC Bank.

HDFC bank personal loans: Eligibility criteria

To qualify for a personal loan from HDFC Bank, applicants must meet the following criteria:​

• Age: Between 21 and 60 years.


• Employment: Salaried individuals employed by private limited companies, public sector undertakings (including central, state, and local bodies), or self-employed professionals.


• Work experience: A minimum of 2 years of total work experience, with at least 1 year in the current organisation.


• Income: A minimum monthly net income of Rs 25,000.​

HDFC bank personal loans: Required documentation

Identity and address proof –

• Valid passport​


• Voter ID card​


• Driving licence​


• Aadhaar card


• Financial documents–

-Bank statement of the previous 3 months or passbook of the previous 6 months.
-Two latest salary slips or current dated salary certificate with the latest Form 16.

How to apply for a personal loan in HDFC bank?

• Visit the HDFC bank Xpress personal loan portal: Navigate to the official HDFC Bank personal loan page.​


• Select your occupation: Choose between salaried or self-employed options.​


• Identity verification: Enter your mobile number and date of birth or PAN for identification.


• Provide personal details: Fill in necessary personal information as prompted.​


• Verify income: Submit details regarding your income to assess loan eligibility.


• Review loan offer: Based on the provided information, review the loan amount and terms offered.​


• Complete Aadhaar-based KYC: Finalise the Know Your Customer process using your Aadhaar details.


• Upon approval, the loan amount will be disbursed to your bank account.

Moneycontrol offers personal loans up to Rs 50 lakhs from eight lenders, with interest rates starting at 10.5% per annum. The application is fully digital for a quick and easy process.

Get Instant Loan Up To Rs.50L

HDFC bank personal loans: Features and benefits

• Loan amount: Borrow up to Rs 40 lakh, depending on eligibility.​


• Tenure: Flexible repayment periods ranging from 12 to 60 months.​


• Interest rates: Competitive fixed rates between 10.90% and 24% per annum.​


• Quick disbursal: Pre-approved customers can receive funds within 10 seconds; others may receive funds within 4 hours of approval.​


• Minimal documentation: Simplified paperwork requirements make the application process hassle-free.​


• No collateral required: Unsecured loans mean you don't need to pledge any assets.

HDFC bank personal loans: Interest rates and charges

• Interest rates: Fixed rates ranging from 10.90% to 24.00% per annum.​


• Processing fee: Up to Rs 6,500 plus GST.​


• Stamp duty: As applicable per state laws.​

HDFC bank personal loans: Insurance options

• Personal accident cover: For a nominal premium, avail coverage up to Rs 8 lakh, with an additional Rs 1 lakh for critical illness.​


• Sarv Suraksha Pro: Includes Credit Shield Cover equal to the outstanding loan amount, accidental hospitalisation cover up to Rs 8 lakh, and accidental death/permanent disablement cover up to Rs 1 lakh.​

HDFC bank personal loans: Prepayment

HDFC bank allows prepayment and foreclosure of personal loans after 12 EMIs. Prepayment charges depend on the loan tenure: 4% for 13-24 months, 3% for 25-36 months, and 2% for over 36 months.

Under the Golden Edge programme, customers with a net income of Rs 75,000 or more and a loan amount exceeding Rs 10 lakh can foreclose their loan after 12 EMIs without any prepayment charges, provided the amount is paid from their own sources.

To increase the chances of a successful personal loan application with HDFC, it is essential to maintain a CIBIL score of 750 or above, as a higher credit score improves approval odds and may lead to better interest rates. Having a stable employment history, with at least one year in the current job, also improves credibility and ensures a smoother loan approval process.

Moneycontrol’s online lending platform provides access to personal loan offers of up to Rs 50 lakhs from eight different lenders, with interest rates starting at 10.5% per annum. The entire application process is fully digital.

*Refer to the bank website for the latest information on personal loans