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HDFC Personal Loan Interest Rate in 2022.

HDFC Personal Loan Interest Rate in 2022

What is Personal Loan? 

A personal loan helps you borrow money to fulfill your immediate requirement. At the time of emergency, medical, education, marriage, investment for land purchase people take a personal loan. HDFC Bank provides up to 40lakh personal loans depending upon the eligibility with the lowest interest rates. 


Loan Details : 

HDFC Bank offers the lowest interest Personal loan. It’s a collateral-free loan. Depending upon eligibility the bank HDFC offers up to 40lakh loans for individuals or family members. The flexible tenure will be 60 months. 

Interest :

HDFC Bank offers interest for the personal loan starting at @10.49% to 21.00% per annum. Interest rates may vary for different schemes. Customers have to pay as per the Bank schedule. Some time Bank provides offers there will be no processing fee. Bank also offers zero penalties for foreclosure and pre-payment for customers. 

How the personal Loan interest rate is calculated:

Loan interest rate calculated by various banks considers three major factors: 

  1. CIBIL Score

  2. Repayment History

  3. Principal AMount

Tenure and Loan Moratorium :    

Bank offers a flexible tenure of 5 years for personal loans. 

Loan Processing Charges: 

HDFC Bank offers up to 2.50% of the loan amount subject to a maximum of Rs.25000/- for salaried customers.

Charges Post Loan Disbursement:  

Overdue EMI: 2% per month on EMI/Principal overdue. 

Legal/incidental charges: At actuals

Amortization Schedule charges: Rs.200/-

Cheque swapping Charges: Rs.500/-   

What is the interest on a 1 lakh Personal Loan?

The interest rate of 1 lakh loan is calculated if the interest rate is 12% for 12 months, then the interest for the first month will be:

Rs.1,00,000 X (0.12/12) = Rs.1000/-

What is the interest on a 20 lakh Personal Loan?

It will depend upon tenure and the interest rate. We have here given an example that will make it easier to understand: 

If someone has taken a Personal Loan amount 20Lakh 

For a period of 60month

The interest rate is 10.50%

The EMI is Rs.42,988/-

Total Interest Payable: Rs.5,79,268/-

Total Payment ( Principal + Interest ) = Rs.25,79,268/-

EMI Calculator :

For EMI Calculator visit:

Who can apply :

Under this scheme, every salaried, non-salaried person can apply.

  • Minimum Age: 25 years

  • Maximum Age: 65 years at the time of loan maturity

  • The business must have been in existence for a minimum period of 3 years

Documents required :   

  1. PAN Card.

  2. Adhar Card.

  3. Salary Slip 

  4. Address proof etc.

This the details about HDFC Personal Loan Interest Rate in 2022

Instant Personal Loan disbursal through digital loan journey:

  • Any valid digital ID proof for KYC

  • 3 months’ bank statement

  • Net Banking or Debit Card details to set up e-Mandate

  • eSign/eStamp for faster disbursal

Avail instant Personal Loan disbursal with  digital loan journey

  • Digital KYC Capability – No need to provide any physical documents

  • Minimal Documentation – Only 3 months’ bank statement required in PDF format

  • eMandate – Use Net Banking or Debit Card to digitally set up your mandate

  • Digital Disbursal using eSign/eStamp ensures faster money credit to your account

  • Minimal documentation requirements, if opting for physical process

For KYC we require one of the following:

  • PAN Copy

  • Form 60

For identity and address proof of your instant Personal Loan online, one of the following officially valid documents (OVD) containing photo identity and address details duly self-attested:

  • Aadhaar card issued by UIDAI

  • Valid Passport with an expiry date, photograph, and signature, Voter’s Identity Card issued by the Election Commission of India, Driving License issued by regional transport authority, Job Card issued by NREGA duly signed by an officer of the State Govt.

  • National Population Register containing details of name and address

If the above-mentioned documents are not available, the customer can provide the following documents to be deemed as proof of address:

(Please note: You will need to submit one of the OVD mentioned above in 3 months after availing of the loan)

  • Utility Bill: Latest electricity, telephone, piped gas, water bill, or post-paid mobile bill

  • Property or Municipal tax receipt

  • Pension or Family Pension Payment Orders (PPOs): Issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address

  • Letter of Allotment of Accommodation from Employer* (subject to conditions)

  • Income Proof

For income details, Bank requires your banking details for the last 3 months.

  • For a seamless, safe, secure, and fast process, you can also log in via your Net Banking credentials to share your details or submit readable PDF copies of the bank statement, downloaded from your bank portal.

Optionally, you can also submit a physical copy of the bank statement.

  • If you are salaried, please ensure that your latest 3 months’ bank statement is provided with 3 salary credits.

  • If you are self-employed, please ensure that your main transacting bank account details are provided, showing at least 3 transactions every month and a minimum average daily balance of ₹5,000. A current account statement is preferable, however, if you provide your savings account bank statement, then the business proof is mandatory.

Where to apply : 

Customers can apply nearest HDFC  branch to check eligibility and loan amount. HDFC app users can apply through this app. The loan amount will be credited to the SB account

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