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Personal Loan

    Personal Loan Features

    Eligibility Criteria Details
    HDFC Bank Personal Loan Interest Rate 9.75% p.a.
    Lowest EMI per lakh Rs 2112
    Tenure 12 to 60 months
    HDFC Bank Personal Loan Processing Fee 1% to 2% of Loan Amount
    Prepayment Charges Allowed after 12 Months (2 – 4 %)
    Part Payment Charges Allowed after 12 Months (2 – 4 %) 
    Min Loan Amt ₹ 50,000
    Max Loan Amt ₹ 75 Lakh

    Why Personal Loan

    A personal loan is an unsecured loan, in which an applicant doesn’t have to pledge his belongings to the banker. Banker sees the applicant’s salary, job location, and his credit score only and if they found them satisfactory, the loan gets sanctioned. There is not much hustle as people have an assumption regarding the personal loan; only your capability of paying back the mortgage is considered as well as your intentions of paying it back.

    How to calculate your monthly EMI?

    With the help of EMI calculator, a person can easily calculate the personal loan EMI with less efforts and a single click. An applicant can single-handedly calculate the fixed amount he/she has to pay to the bank every month after taking the loan.

    EMI calculator helps an applicant to get to know his/her capability of paying back the loan amount of through personal loan calculator within the time duration.

    With the help of the following formula EMI calculation can be done:

    EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

    1. R stands for the rate of interest
    2. P is the principal amount
    3. N is the tenure of the loan repayment or the number of monthly instalments.

    Eligibility criteria for Personal Loan:

    1. CIBIL Score/Credit Score: This score is used to track down the credit history of the applicant. The payments made by an applicant gets recorded under the CIBIL score. So, maintaining the CIBIL is very important.
    2. Salary: While sanctioning the personal loan salary is considered as an essential factor. The banker checks an applicant’s salary to check the loan repayment capability.
    3. Location-specific: The personal loan is particular to the location. Meanwhile, an applicant gets loan disbursal only when the bank branches are within 25 km of range from his current location.
    4. Age of person: The age range should be between 21-60 years. The age of an applicant must be at least 21 years or above.
    5. Company’s profile: Company profile gets checked by the banker irrespective whether the applicant is salaried or self-employed.
    6. Stability: The lifestyle of an applicant should be stable for getting the loan sanctioned by the bank.

    Personal Loans Get finance for your every need

    Dreaming of a vacation, a perfect wedding, home renovation, or a much-desired gadget, you no longer need to wait to realize your dreams. Make life picture perfect with a Personal Loan.


    1. Firstly, a wide range of product to choose from
    2. Moreover, guidance throughout the process, making home buying hassle free
    3. Also, doorstep service at your comfort
    4. Besides, simplified documentation
    5. As well as, personal loan sanction without having selected a property
    6. Furthermore, flexible repayment options
    7. Insurance options for home loan at attractive premium
    8. Apply Online and Get Quick Approval
    9. At last, personal Loan online Approval in 2 hrs.

    Personal Loan Documents

    Banks provide you with a personal loan to fulfil your dreams with minimum documentation:

    List of documents for Salaried

    1. Proof of Identity: Passport / Driving License / Voters ID / PAN Card (anyone)
    2. Proof of Residence: Leave and License Agreement / Utility Bill (not more than three months old) / Passport (anyone).
    3. Latest three months Bank Statement (where salary/income is credited).
    4. Salary slips for last three months.
    5. Two Passport Size photographs.

    List of documents for Self-Employed

    1. KYC Documents: Proof of Identity; Address proof; DOB proof.
    2. Proof of Residence: Leave and License Agreement / Utility Bill (not more than three months old) / Passport (anyone).
    3. Income proof (audited financials for the last two years). Latest six months Bank statement.
    4. Office address proof.
    5. Proof of residence or office ownership.
    6. Proof of continuity of business.