HDFC personal loan interest rates April 2025: Check eligibility, documents and charges

If you need quick funds and do not own assets to act as collateral, personal loans can be a smart option. The loans do not need any collateral and get disbursed instantly. Before applying for HDFC Bank personal loan, it is essential to know about eligibility criteria, documents required and other fees to compare and get the best offer according to your budget:

HDFC Bank personal loan eligibility criteria

• Age: You must be between 21 years to 60 years old.
• Income: Minimum salary of at least ₹25,000.
• Employment: Both salaried and self employed professionals are eligible to apply for the loan.
• Work experience: You need to have at least 2 years of work experience and minimum 1 year of experience in the same organisation.

Note: The eligibility criteria may vary depending on your overall profile as well as the bank’s policy.

HDFC Bank personal loan documents required

Note: The bank may require you to provide additional documents based on your overall profile as well as the amount you wish to borrow.

• Identity/Address proof: Copy of Passport, Voter ID, driving license, or Aadhaar Card
• Bank statement: Last 3 months bank statement or last 6 months passbook
• Income proof: Latest 2 salary slips or current dated salary certificate along with latest Form 16.

HDFC Bank personal loan interest rates for April 2025

Source: Bank website

Steps to apply for HDFC Bank personal loan

1. Purpose: Determine the purpose and amount of loan required.
2. Check eligibility: Find out your loan eligibility using HDFC Bank personal loan eligibility calculator. The amount of loan offered is up to Rs. 40 lakh.
3. Apply for the loan: You can apply online through net banking, HDFC Bank website, ATM or at a branch.
4. Submit documents: You must provide address proof, ID proof such as bank statement, salary slips or IT returns and income proof.
5. Disbursement: Once the application is approved, the loan amount will be disbursed instantly to your bank account.

In conclusion, it is important to maintain a low debt utilisation ratio and a high credit score above 650 in order to improve your loan approval chances as well as attract low interest rates on your loan. Personal loans usually attract higher interest rates as compared to other loans in the market. Hence, before you decide on applying for the loan, it is important to explore other options available to you so that you can make the best choice which suits your budget.

Disclaimer: Mint has a tie-up with fin-techs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.