HDFC Bank Personal Loan Details – Eligibility, EMI Calculation, Application Status

HDFC Bank is one of the premier private sector banks offering easy personal loans at reasonable interest rates. Applying for a personal loan with HDFC Bank is a straightforward process. The bank offers a range of personal loan products to suit every requirement. 

Here are the different HDFC Bank Personal Loan products on offer.

Type of HDFC Bank Personal Loan Brief Details
Marriage Loan Personal loan for marriage expenses

Amounts ranging from Rs 50,000 to Rs 40 lakhs

Repayment tenure between 12 and 60 months

Interest Rate – 10.50% to 20.40%

Travel Loan Pre-approved loan to selected HDFC Bank customers 

Loan to meet your travel expenses

Repayment tenure up to 60 months

Interest Rate starting from 10.50%

Emergency Loan Personal loan to meet unforeseen financial emergencies

Amounts ranging between Rs 50,000 and Rs 40 lakhs

Repayment tenure up to five years

Interest Rate – 10.50% to 20.40%

Debt Consolidation Loan Loan to consolidate all your debts in one place

Amounts up to Rs 40 lakhs

Repayment tenure from one to five years

Interest rates start at 10.50%

Home Renovation Loan Pre-approved home renovation loan for selected HDFC Bank customers

Loans for renovation and refurbishment of your home

Repayment in a maximum of 60 EMIs

Interest rate – 10.50% to 20.40%

Personal Loan for Students Personal loan for funding your stay while pursuing higher education abroad and other student-related activity

The loan repayment period can extend up to a maximum of 60 months

Interest rate between 10.50% and 20.40%

Personal Loan for Teachers Personal loan to teachers based on their monthly salary

Amounts ranging from Rs 50,000 to Rs 40 lakhs

Interest rate – 10.50% to 20.40%

Personal Loan for Women Personal loan to women to meet their financial obligations

Interest rate – 10.50% to 20.40%

Personal Loan for Salaried Personal loan to salaried employees drawing their salaries through HDFC Bank

Pre-approved customers get an instant personal loan.

Interest rates ranging between 10.50% and 20.40%

Personal Loan for Government Employees Personal loan to government and PSU employees based on their salary

Repayment tenure extended up to 72 months

Interest rate between 10.50% and 20.40%

HDFC Bank Personal Loan Eligibility

HDFC Bank offers simplified eligibility criteria for personal loans. Though it is not compulsory to maintain an account with HDFC Bank for all the loans, it is beneficial to have one, especially your salary account. You become eligible for pre-approved personal loans.

  • Indian residents between 21 and 60 years are eligible to apply for HDFC Bank Personal Loan.
  • HDFC Bank personal loans are available to salaried individuals employed with government departments, PSUs, and other reputed private corporates.
  • The applicant should have an employment history of a minimum of two years, of which a minimum of one year should be with the current employer.
  • Persons maintaining salary accounts with HDFC Bank get preference over those maintaining salary accounts elsewhere.
  1. The minimum net monthly income/salary should be Rs 25,000 for individuals maintaining salary accounts with HDFC Bank.
  2. For non-HDFC Bank salary account holders, the minimum net monthly income should be Rs 50,000.
  3. HDFC Bank account holders get the advantage of pre-approved loans, depending on the bank’s internal eligibility criteria.
  4. HDFC Bank account holders get a better interest rate than non-HDFC Bank salary account holders.
  • The bank does not seek reasons for availing of a personal loan, but one should not use it for speculative purposes. 
  • The applicant should have an impeccable repayment record.
  • Personal loans are based on monthly salaries. However, the applicant should satisfy the EMI/NMI ratio as decided by HDFC Bank (Equated Monthly Instalment to Net Monthly Income)

EMI Calculation

The EMI to NMI ratio is crucial to determining your personal loan eligibility. Generally, banks look for a minimum of 50%. EMI, in this case, means all your EMI obligations include the instalment for the proposed personal loan. Hence, it is essential to calculate the prospective EMI before applying for a personal loan.

Calculating your EMI is easy using the EMI calculator provided on the HDFC Bank Personal Loan webpage.

HDFC Bank offers different calculators for the following purposes.

  • Personal Loan EMI Calculator

You have to provide the following information to get your EMI.

  1. The proposed loan amount you are looking for from HDFC Bank
  2. Your convenient repayment period between one and five years
  3. The rate of interest

Hit the Calculate option to get your EMI and the graph depicting the repayment of your loan and the interest amount.

  • Personal Loan Eligibility Calculator

This calculator helps you to determine your personal loan eligibility.

  1. Click on the Personal Loan Eligibility Calculator option.
  2. Enter the details asked for on the subsequent page.
  3. If your employer is on HDFC Bank’s approved list, you get your eligibility within no time. 
  4. Otherwise, you have to approach the nearest HDFC Bank branch with your respective documents and meet the concerned loan official to know your eligibility.
  • Personal Loan Balance Transfer Calculator

This calculator proves helpful when you apply for a Balance Transfer loan from another bank.

  1. Enter the existing loan amount and total tenure of the loan.
  2. Provide details of the present outstanding amount.

You get details of your new EMI, savings on the EMI, and the total savings over the entire tenure immediately.

How do you apply for HDFC Bank Personal Loan?

You can apply for the HDFC Bank Personal Loan online directly from the bank’s personal loan webpage. However, it is better to calculate your EMI and eligibility before you apply for the loan. HDFC Bank acknowledges your application and provides you with the application reference number. You can use this number to check out the loan application status.

How to check HDFC Bank’s personal loan application status?

You can track your  HDFC Personal Loan application status in multiple ways.

  • Online Tracking

It is the most accessible mode of tracking your HDFC personal loan.

  1. Access the loan application status page and enter your name or the application reference number.
  2. The site requires you to provide your date of birth or your mobile number to confirm your identity.
  3. Hit the Submit option to get the status immediately.
  • Alternate tracking modes

You can reach out to HDFC Bank via Webchat, Click2Talk, and Phone Banking. Besides, it is also possible to reach out via WhatsApp on 7065970659.

We have discussed everything to know about HDFC Bank Personal Loan. This information can prove handy when you apply for the facility.    

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