HDBFS Personal Loan
The HDB Financial Services (HDBFS) offers personal loans that are easy to access and designed to help you with different financial needs. Whether you want to combine multiple debts into one or need money for sudden expenses like medical bills, home repairs, or travel, HDBFS can support you.
You can borrow a loan amount of up to ₹20 lakh, depending on your eligibility. The repayment period is flexible, ranging from 12 months to 60 months, so you can choose what suits you best. The interest rate can go up to 36%, based on factors like your credit score, income, and loan amount.
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Features of Personal Loan
- Unsecured loan (no collateral or guarantor needed)
- Can be used for various needs like education, marriage, vacations, home repairs, large purchases, debt consolidation, etc.
- No restrictions on how you use the loan amount
- Quick and simple process to avail the loan
- Easy eligibility criteria and document submission
- Loans are easy to get and suit the needs of many customers
- Competitive interest rates for large loan amounts
- Loans are customized to meet individual financial requirements
- Fast approval (within 72 hours) for eligible customers
- Documents can be picked up from your home for added convenience
- A single contact person handles all customer queries for a smooth experience
Documents Required to Apply for Personal Loan
Proof of identity
Passport, Ration card with photo, Driver’s license, Voter’s ID, PAN card, or Aadhar card.
Proof of address
Driver’s license, Ration card, Utility bill, Voter ID (with 3 months validity), Rent agreement, or Passport.
Other documents
- Trade or establishment license, Certificate of sales tax.
- Memorandum of Association, Articles of Association, Partnership Deed, Declaration of Sole Proprietorship, Board Resolution.
- Memorandum of Association, Articles of Association, Partnership Deed, Declaration of Sole Proprietorship, Board Resolution.
HDBFS Personal Loan – Key Details
| Feature | Details |
|---|---|
| Interest Rate | Up to 36% per annum (depends on credit profile and market conditions) |
| Processing Fee | Up to 5% of the loan amount |
| Loan Amount | Up to Rs. 20 lakh |
| Loan Tenure | 12 to 60 months |
| Pre-closure | Allowed after 6 months; 4% of outstanding amount + taxes |
| Guarantor | Not required |
| Floating Rate | Applies to loans above 36 months |
Eligibility Criteria for Salaried Applicants:
| Criteria | Details |
|---|---|
| Age | 21 to 60 years (up to 65 for govt. employees) |
| Employment | Minimum 1 year of active employment |
| Salary | Rs. 20,000 (metros like Mumbai, Delhi, Bangalore, etc.) Rs. 15,000 (other cities) |
Eligibility Criteria for Self-Employed Professionals:
| Criteria | Details |
|---|---|
| Age | 22 to 65 years |
| Business Experience | Minimum 3 years |
| Minimum Income | Rs. 1,00,000 (metros) Rs. 75,000 (other cities) |
HDBFS Personal Loan Interest Rate
The interest rate for an HDBFS personal loan can be as high as 36% per year. The actual rate you receive depends on several factors, such as:
- Your credit score and repayment history
- HDBFS’s own internal policies
- Current market conditions
Note: If your loan period is more than 3 years (36 months), the interest rate will be floating. This means it can change over time depending on market trends.