HDBFS Personal Loan

The HDB Financial Services (HDBFS) provides personal loans that are simple to apply for and useful for many financial needs. If you want to merge your existing debts into one loan or need urgent funds for medical expenses, home renovation, or travel, HDBFS can help.

You can get a loan of up to ₹20 lakh, depending on your eligibility and profile. The repayment time is flexible, starting from 12 months and going up to 60 months, so you can select a tenure that fits your budget. The interest rate may go up to 36%, based on your credit score, income, and the loan amount you choose.

HDBFS Personal Loan
Balance Transfer
100% Paperless Approval
✔
Loan Amount
Up to ₹20L
Interest Rate
19.10%
Tenure
5 Years
Processing Fee
Up to 2.00%
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Fees & Eligibility
Fees & Charges

Pre-closure charges are levied at 4% of the outstanding principal amount, along with applicable taxes as per prevailing regulations.

Eligibility Criteria
  • Salaried applicants must be between 22 and 60 years old by the time the loan is fully repaid.
  • You should earn at least ₹20,000 per month to apply.
  • The loan service is available in cities like Chennai, Bangalore, Hyderabad, Secunderabad, Mumbai, and Pune.
Documents
  • Copy of your PAN card and valid ID and address documents
  • Documents showing your income details
  • Latest bank account statement
  • A recent passport-size photo
Features
What you'll love
  • You do not need to provide any guarantor to apply for this loan.
  • You can repay and close the loan after completing 12 months.
Loan Benefits
- Simple and easy loan process for every type of customer
- Attractive interest rates, especially for higher loan amounts
- Flexible loan plans as per your needs
- Quick approval, usually within 72 hours
- Documents can be collected from your home
- Single point of contact for all your questions and support
Proof of identity
You may provide any valid government-issued photo identification document, such as a passport, ration card, driving license, voter ID card, PAN card, or Aadhaar card, for verification purposes.
Proof of address
Acceptable documents include a valid Driving License, Ration Card, recent Utility Bill, Voter ID card with at least three months’ validity, Registered Rent Agreement, or Passport.
Other documents
- Copy of your business license or GST/sales tax registration certificate.
- Business registration documents such as Memorandum and Articles of Association (MOA & AOA), partnership deed, sole proprietorship declaration, and board resolution letter.
  • No need to give any security or guarantor to get the loan
  • The loan amount can be used for education, marriage, travel, home repair, shopping, debt repayment, and many other purposes
  • Simple eligibility rules with easy document submission process
  • Quick approval process, usually within 72 hours for eligible customers
  • Interest rates are competitive, especially for higher loan amounts
  • One dedicated contact person handles your queries for a smooth experience
  • Loan options are designed to match different financial needs
  • Doorstep document pickup service is available for your convenience
  • The application process is fast and hassle free
  • The loan is flexible and can be used for any personal financial requirement

HDBFS Personal Loan – Key Details

FeatureDetails
Interest RateUp to 36% per annum (depends on credit profile and market conditions)
Processing FeeUp to 5% of the loan amount
Loan AmountUp to Rs. 20 lakh
Loan Tenure12 to 60 months
Pre-closureAllowed after 6 months; 4% of outstanding amount + taxes
GuarantorNot required
Floating RateApplies to loans above 36 months

Eligibility Criteria for Salaried Applicants:

CriteriaDetails
Age21 to 60 years (up to 65 for govt. employees)
EmploymentMinimum 1 year of active employment
SalaryRs. 20,000 (metros like Mumbai, Delhi, Bangalore, etc.)
Rs. 15,000 (other cities)

Eligibility Criteria for Self-Employed Professionals:

CriteriaDetails
Age22 to 65 years
Business ExperienceMinimum 3 years
Minimum IncomeRs. 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 rate you get can change based on a few things, like:

  • 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.
Frequently Asked Questions

How do I repay my loan and what is the tenure?

Your EMI is automatically deducted from your bank account through E-NACH or ACH every month. The repayment period is flexible and usually ranges from 12 to 60 months, so you can choose a tenure that fits your budget.

What are the eligibility criteria and how much loan can I get?

Your loan approval and amount depend on your credit score, monthly income, repayment capacity, and internal assessment by HDB Financial Services. The final amount is decided based on your overall profile.

Is any collateral or guarantor required?

No, this is an unsecured personal loan. You do not need to provide any security or guarantor.

Are there charges for part-payment or early closure?

Yes, charges apply if you want to partially repay or fully close the loan before the end of the tenure. You can request foreclosure after paying at least six EMIs by submitting the required form at a branch of HDB Financial Services.

How can I apply and track my loan application?

You can apply online anytime without visiting a branch. To check your application status, visit the official website, enter your PAN or date of birth, and verify with OTP. You can also use the Ask Priya chatbot, the HDB On The Go mobile app, visit a branch, or contact customer support.

Can I use the loan for medical or other personal needs?

Yes, you can use the loan for medical expenses, travel, education, home repair, or any other personal financial requirement.