HDFC Bank was founded in 1994 and is based in Mumbai, India. Today, the bank’s distribution network comprises over 5000 branches and 12,000 ATMs located in over 2500 towns and villages. Individuals may apply for an HDFC bank personal loan with little paperwork and quick approvals, making it simple to get cash to deal with a financial emergency. You can apply for a loan of up to INR 40 lac with a repayment period ranging from 12 to 60 months. The bank also offers quick personal loans to pre-approved HDFC Bank customers, promising to disburse the personal loan amount in less than the 10 seconds for pre-approved customers and within 4 hours for everyone else. Before applying for a personal loan in any bank, it is important to have a high online CIBIL Score.
Benefits & Features
There are numerous benefits that come along with the HDFC personal loan. Some of the perks and characteristics of an HDFC bank personal loan are as follows:
- Payment is made on the same day.
- Collateral or security are not required.
- There is very little documentation necessary.
- The interest rates on HDFC bank personal loans start at 10.75 percent.
- Choose your own EMI, beginning at INR1400.
- Select your own repayment time ranging from 12 to 60 months.
- The HDFC Bank Diva Scheme provides female candidates with pre-approved personal loans of up to INR 3 lakh.
- Every HDFC Bank personal loan comes with a free personal accident insurance policy worth INR 8 lakh and a critical health insurance policy worth INR 1 lakh.
These are some of the benefits that come along with the HDFC Bank personal loan. However, it is important to check the eligibility criteria before applying for this loan in order to avoid rejection.
There are some conditions that you need to fulfill in order to obtain the HDFC Bank personal loan. The qualifying conditions that an individual must meet in order to acquire a personal loan from HDFC bank are as follows.
- The applicant must be between the ages of 21 and 60.
- Should be a salaried employee with at least two years of experience, or a self-employed individual with at least one year with the current firm.
- Individuals who work for themselves must earn more than INR12500 per month.
- A monthly salary of INR 25,000 is necessary for salaried individuals.
- Must be a citizen of India.
Different Types of Loans offered by HDFC Bank
Customers of HDFC Bank can apply for a range of personal loans. The following are some of the personal loans provided by HDFC Bank:
The HDFC Diva Plan
Borrowers who are women can benefit from HDFC Bank’s Personal Loan for Diva programme. Women can apply for a pre-approved personal loan of up to INR 3 lakhs under this scheme. In addition to the offer, female applicants can take advantage of online bargains, products/vouchers, and discounts. These one-of-a-kind vouchers can be used online as well as in person.
Personal Loan for Salary Professionals
If you are a salaried professional such as a doctor, physiotherapist, architect, chartered accountant, or company secretary and meet other qualifying parameters such as age, income, and CIBIL Score, you can apply for an HDFC Bank loan for salaried professionals. You must be between the ages of 21 and 60, have at least two years of experience, and earn at least INR 25000 a month.
Personal Loan for Pensioners
HDFC Bank offers a loan of up to INR 5 lakh for up to 36 months. Pensioners are entitled to up to 50% of their extra earnings.
Insta Loan from HDFC
The HDFC Bank Insta Loan is a pre-approved loan against your HDFC Credit Card limit. Despite the fact that it is a pre-approved loan, it is feasible to obtain one with minimal paperwork and procedures. To assess your eligibility for an HDFC Bank Insta Loan, go into your net banking account or call HDFC Bank customer service.
The HDFC Jumbo Loan
A quick loan that does not go against your credit card limit. The loan will be repaid over a 12- to 60-month period.
These are some of the forms of personal loans provided by HDFC Bank. However, it is recommended that you create a CIBIL score login to ensure that you have a good score when applying for a personal loan.
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