HDFC Personal Loan Eligibility

HDFC popularly known as Housing Development Finance Corporation is a financial service company with 12,000 ATMs and 4,281 branches all over India. Among the various financial services offered by HDFC, Personal loan is the most popular among them.

HDFC Personal Loan is a financial backup at any emergency situation. It is an unsecured loan which doesn’t require any collateral or security to keep with the bank. 

HDFC Personal Loan involves minimum documentation and easy loan approval process. To avail loan, you need to satisfy HDFC Personal Loan Eligibility Criteria which is very simple. You need to fulfill the requirements of age, credit score, net take home salary for HDFC Personal Loan Eligibility.

Features of HDFC Personal Loan

Here are the features of HDFC Personal Loan

  • Minimum paperwork is needed for HDFC Personal Loan eligibility criteria.
  • Very minimum interest rate is offered for HDFC Personal Loan eligibility criteria.
  • Online Verification of HDFC Personal Loan eligibility is available.
  • No mortgage is required for HDFC Personal loan eligibility.
  • Flexible loan repayment tenure ranges from 1 year to 5 years for HDFC Personal Loan eligibility. 

HDFC Personal Loan Eligibility Criteria

Let’s have a look in to the HDFC Personal Loan Eligibility Critera-

  • Age– Minimum and maximum age limit ranges from 21 to 60 years which is required for HDFC Personal loan eligibility.
  • Employment– Must be a salaried person.
  • Status of Employment– Must have a minimum of 2 years job experience and a minimum of 1 year experience in the present job.
  • Organization- Employee of central, local and state bodies of public sector undertakings, private sector companies.
  • Net take home salary– Minimum salary of Rs. 15,000 for HDFC Personal Loan Eligibility.
  • Credit Score– 750 or above
  • Tenure– 12 to 60 months

Parameters which affect HDFC Personal Loan Eligibility

Here are some parameters which affect HDFC Personal Loan Eligibility criteria-

  • Credit History– You must have a good credit history to acquire a good credit score which will help you to get personal loan.
  • Any existing liability– You need to pay your existing credit card bills or loan if any. This will help to earn a good credit score.
  • Residence– The higher you live in a particular area, the more eligible you become for HDFC personal loan.
  • Stability of Job– You must have a stable job and should not switch jobs frequently. A stable job helps in gaining trust of the bank.
  • Organization- If you are working in a reputed organization, you are considered worthy enough to payoff the loan.  

Documents required for HDFC Personal Loan

Following are the set of documents which are required for HDFC Personal Loan-

  • Personal Loan application form.
  • Passport size photos
  • Proof of Residence- Leave and License Agreement, Passport,  Utility Bills like Electricity or Gas bill of last 3 months.
  • ID Proof- PAN Card, AADHAR Card, Voter Card, Passport. 
  • Last 3 months Bank Account Statement where the salary is credited.
  • Copy of Form 16.
  • Last 3 months salary slip.
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Interest rate start 10.75% * Upto 40 Lacs
Loan Duration: 12 - 60 months*

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