Both salaried and independent employers in India are eligible to apply for personal loans from HDFC Bank. You can use the net-banking platform to see if you meet the HDFC personal loan eligibility for salaried if you are an account holder in HDFC bank customer.
Visit the official website to access the online HDFC personal loan eligibility calculator to know if you are eligible for a loan, and use the online HDFC personal loan calculator to calculate your monthly repayment EMIs and the HDFC personal loan interest rate you will be levied on the loan.
You can get a personal loan of approximately Rs. 40 lakh with a moderate HDFC personal loan interest rate and a payback period of up to 60 months after meeting the qualifying requirements.
The minimum salary for personal loan in HDFC bank is INR 15000. The net salary requirement increases to INR 20000 if you live in the cities of Kochi, Kolkata, Ahmedabad, Pune, Hyderabad, Mumbai, Chennai, Bengaluru, and Delhi.
Advantages of HDFC Personal Loan
- No collateral is needed: Take advantage of hassle-free financing without having to pledge any property or valuables. Your income and creditworthiness are the only factors used to approve a loan.
- Reasonable HDFC personal loan interest rate: HDFC customers can get the best available interest rates on personal loan with HDFC.
- Minimum salary for personal loan in HDFC bank: Anyone with an HDFC account and a salary of INR 15000 can apply for the loan.
- Fast Fund Access: The speedy processing of personal loans guarantees that you will receive the money quickly—often in a matter of seconds or days following approval.
- Adaptable Use: Use your loan for almost anything, including travel, home remodelling, weddings, and unexpected medical expenses. You are free to use the money however you see fit.
- Cost-effective EMIs: Take advantage of set, reasonably priced EMIs that guarantee simple repayment without taxing your resources.
Conditions for HDFC personal loan eligibility for salaried
- Workers from public sector organizations, including federal, state, and local agencies, as well as employees of private limited firms are eligible
- People who are 21 to 60 years of age are eligible
- People who have been employed for at least two years, with at least one year spent with their present employer are eligible
- Most banks are more likely to consider you for a loan if your credit score is higher than 750.
- If you own a house, you are more likely to get a loan. People living on rent may have to provide a rent agreement.
- People with a minimum salary for personal loan in HDFC bank of Rs. 15,000 (Rs. 20,000 in Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, and Cochin) are eligible.
| Particulars | Salaried | Self-Employed |
| Age | 21 – 60 years | 21 – 65 years |
| Minimum salary for personal loan in HDFC bank | Rs.15,000 (Rs. 20000 for Kochi, Kolkata, Ahmedabad, Pune, Hyderabad, Mumbai, Chennai, Bengaluru, and Delhi) | Rs.5 Lakh p.a. |
| Co-applicant | Not mandatory | Not mandatory |
| Loan Tenure | 12 – 60 months | 12 – 60 months |
| Maximum Loan Amount | Rs.40 Lakh | Rs.40 Lakh |
| Employment Type | Salaried Employees of both private and public companies | Self-employed individuals |
| Employment/Business Continuity | Minimum 2 years of employment, out of which 1 year with current firm | |
| CIBIL Score | 750 and above | 750 and above |
| Residential Status | Indian Residents living in their own houses or a rented flat | |
HDFC Bank Personal Loan Details
| HDFC Personal Loan Interest Rate | 11.25% – 21.45% p.a. |
| Minimum salary for personal loan in HDFC bank | Rs. 20000 |
| Loan Amount | Rs.50,000 – Rs.40 lakh |
| Loan Tenure | 12 months – 60 months |
HDFC Personal Loan Interest Rate and fees
Check the table below to know about the HDFC personal loan interest rate and fees before applying for a loan at HDFC Bank.
| Rate of Interest | 10.85% to 24.00% (Fixed Rate) |
| Loan Processing Charges | Up to ₹ 6,500/- + GST |
| Stamp Duty | At actuals (Per applicable state laws) |
How to File an HDFC Personal Loan Application?
- Step 1: Go to the portal for the HDFC Bank Xpress Personal Loan.
- Step 2: Decide on a profession.
- Step 3: Use your DOB/PAN and mobile number to identify yourself.
- Step 4: Enter personal information.
- Step 5: Confirm your revenue.
- Step 6: Examine the loan proposal.
- Step 7: Finish the KYC based on Aadhaar.
- Step 8: Take pleasure in having money in your bank account quickly.
Documents Required for HDFC Personal Loan Eligibility for Salaried
- Identity Proof & Address Proof
- Copy of valid passport
- Voter ID card
- Driving license
- Aadhaar card
- Bank statement of previous 3 months or Passbook of previous 6 months
- Two latest salary slips/current dated salary certificates with the latest Form 16
- Note: No documents for pre-approved Personal Loan
How to use the HDFC Personal Loan Calculator?
You may easily calculate your loan’s monthly instalments with the online HDFC personal loan calculator.
The equivalent monthly instalment is a crucial component in determining the loan amount and duration when you take out a loan. You can better plan your loan and repayment by using the HDFC personal loan calculator, which allows you to rapidly calculate monthly pay-outs.
Simply enter the loan amount, interest rate, and loan tenure to calculate your EMI, and it will be displayed immediately.
Loan sums ranging from INR 50,000 to INR 400,000 and terms ranging from one to five years can be entered.
The HDFC personal loan calculator has three sliders that you can alter if you want to modify the EMIs. If you want to reduce your EMI, you can either increase the tenure or decrease the HDFC personal loan interest rate. You might think about lowering your duration or raising the loan amount if you can afford larger monthly payments.
The graph displays the total amount you will pay back over the course of your loan, including interest.
The calculator is made to be simple and intuitive to use.
What is the eligibility for a personal loan?
What is eligibility for a personal loan will be determined by using the list of factors below.
• Age: You have to be at least 21.
• Income: To pay the loan’s EMIs, you must have a minimum monthly income.
• Employment: You must have a steady source of income and be either self-employed or employed.
• Credit score: A minimum credit score of 700 or higher is required.
• Work experience: A minimum level of work experience is required.
• Debt-to-income ratio: Your debt-to-income ratio ought to be less than 40%.
• Residency: You have to live in India.
The exact requirements for eligibility could differ depending on the bank and specific situation.
HDFC Personal Loan Eligibility
HDFC Personal loan eligibility criteria require borrowers to have a minimum monthly salary of INR 25000 per month, an experience of 2 years, and must be of 21 years of age.
5 lakh personal loan eligibility
Applicant should be under the age of 21 to 60, have a stable monthly income of INR 25000, and have a CIBIL score of 720-750 to meet 5 Lakh personal loan eligibility.
In Summary
If you work as an employee, the best way for you to know if you meet the HDFC personal loan eligibility for salaried is to use the online HDFC personal loan eligibility calculator. There you can enter all your details and check if you can apply for a loan or not. To improve your chances of getting a loan, focus on increasing your CIBIL Score. If you are reading this blog, you are likely to apply for a personal loan. Make sure to calculate your EMIs and interest rate before applying. If you meet the HDFC personal loan eligibility for salaried, just get in touch with the bank to get started.
HDFC Personal Loan Eligibility FAQs
Q1. What is the minimum salary for a personal loan in HDFC Bank?
The minimum salary for a personal loan in HDFC bank is INR 25000.
Q2. How much salary for a 10 Lakh loan?
Applicants must have INR 50000 per month salary, a full-time job, and a credit score of 750 to be eligible for a 10 lakh loan.
Q3. Which bank is best for a personal loan?
BIR Credit Solutions is the best option for a personal loan if you have a low credit score but a stable monthly income.
