HDBFS Personal

What are the benefits?

  • They are easy to avail and developed to suit the financing needs of a wide range of customers.
  • These loans feature some of the most competitive interest rates vis-a-vis peers, for considerable loan amounts.
  • Customers’ requirements are assessed and customised loans are offered so as to effectively satisfy their financial needs.
  • Qualified customers receive quick approvals i.e. within 72 hours of submitting documents to process loan requests
  • Convenience is an added benefit as customers are offered doorstep collection of documents.
  • All customer queries are addressed through a single point of contact, ensuring a smooth and uncomplicated loan process

HDBFS Personal Loan Interest RatesUpdated on 22 Jan 2020

HDBFS Personal Loan Details
Interest Rate (Daily reducing balance)12.99%
Processing FeesUp to 2% of the loan amount
Loan Tenure1 year to 3 years
Pre-closure ChargesPreclosure permitted after 6 Months. 4% of principal outstanding (plus applicable tax)
Guarantor RequirementNo guarantor required

Current Interest Rate on HDBFS Personal Loan

The current rate of interest ranges from 19% to 21% depending on the borrower’s creditworthiness, the company’s individual credit policy and prevailing market conditions.

Note:- Loans with tenures over 3 years (36 months) are offered with floating rates


The basic criteria to be satisfied to qualify for the loan is outlined below depending on the borrower category viz. Salaried, Self-Employed Professionals, Self-Employed Individuals, Self-Employed Private Companies or Partnership Firms

Salaried Applicants:

This refers to all individuals/professions/non-professions/companies earning a salary

  • Minimum age: 21 years
  • Maximum age on loan maturity date: The earlier of - 60 years for regular borrowers, 65 years for government employees OR age of retirement
  • Employment period: 1 year active employment (minimum)
  • Salary: 1 month’s credited pay of active employment (minimum)
  • Minimum pay: Rs.20,000 (Metros i.e. Chennai, Bangalore, Hyderabad, Mumbai, Pune, Ahmedabad, Delhi, Kolkatta), Rs.15,000 - others

Self-Employed (Professionals) Applicants:

This refers to self-employed professionals like Doctors, Architects, Chartered Accountants etc.

  • Minimum age: 22 years
  • Maximum age on loan maturity date: 65 years
  • Life of Business: 3 years (minimum)
  • Minimum income: Rs.1 lakh (Metros i.e. Chennai, Bangalore, Hyderabad, Mumbai, Pune, Ahmedabad, Delhi, Kolkatta), Rs.75,000 - others

Documentation required

Basic paperwork requirements to process the loan are as follows:

  • Identity: Passport, Ration card with photo, Driver’s license, Voter’s ID, PAN or Aadhar Card
  • Address: Driver’s license, Ration card, Utility, Voter ID (either of these with 3 months validity) OR Rent Agreement, Passport
  • Age/ Birth Date: Birth Certificate, Passport, Driver’s License, PAN card, 10th or 12th mark sheets
  • Income: Most recent 3 months and latest Form 16, Income Tax Return or Appointment letter
  • Bank Statement/Passbook: For the 3/6 months immediately preceding the loan application
  • Business continuity: Trade or establishment license, Certificate of sales tax
  • Other documents: Memorandum of Association, Articles of Association, Partnership Deed, Declaration of Sole Proprietorship, Board Resolution

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