HDB Personal Loan - Apply Online and check eligibility
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HDB Financial Services

HDB Finance Personal Loans

Instant Personal Loans from HDB Financial Services (HDB Personal Loans) is a cost-effective solution for salaried individuals or self-employed professionals or firms seeking emergency financial assistance. HDB Personal Loans are collateral-free personal loans available at attractive interest rates with highly flexible loan repayment tenures and come with hassle-free documentation processes, super-quick processing, and speedy loan disbursal. HDB Personal Loans are available for both, salaried and self-employed categories of individuals.

Why take HDB Finance Personal Loans?

  • Maximum Loan Availability: Based on requirements and eligibility, you can get avail of HDB Personal Loans up to INR 20 Lakh.
  • Attractive Interest Rates: HDB Personal Loans come with low and best-in-market fixed interest rates. Also, interest rates can also be specially customized based on your need and repaying capacity.
  • Flexible Loan Repayment Tenure: HDB Personal Loans offers repayment tenure ranging from 12 to 60 months when availing a personal loan.
  • Easy Documentation Process: With HDB Personal Loans, you can avail of the loan with minimal/quick application and documentation process.
  • Online Facility for Instant Personal Loan Application: You can even apply for the HDB Personal Loans online and do the entire process paperless by uploading soft copies of the relevant documents.
  • Quick Processing & Speedy Disbursal: With HDB Personal Loans, subject to documentation & eligibility, the loan amount gets approved and disbursed quickly to your bank account. Pre-approved loans and existing offers on the ‘HDB On the Go’ Android app.
  • No Collateral or Guarantors: HDB Personal Loans being an unsecured loan, there is no requirement for you to submit any collateral or a guarantor to get the loan.

For what purposes can you apply for HDB Finance Personal Loan?

You can apply for an HDB Personal Loan to fulfill all your planned or unplanned financial requirements. For example (indicative but not limited to):

  • Manage medical emergencies
  • Undertake debt consolidation
  • Renovating your home
  • Fund the dream overseas travel
  • Manage expenses related to the wedding or any other such ceremonies
  • Manage education expenses of your kids
  • Pay for High-Value Shopping
  • Any Other Financial Emergency
  • Immediate Working Capital needs in case of proprietorship firms and companies

HDB Finance Personal Loans – Fees & Charges

Regular Fee / Charges

Rate (exclusive of GST)

Loan Processing Fee

Upto 3%

Cheque / ECS bounce charges

INR 750 per bounce

Interest on late loan repayment of EMI / late loan repayment charges

3% per month on overdue EMI amount / Interest amount

PDC/ECS Swap Charges

INR 750 per swap

Statement of Account Charges

INR 500

Document Retrieval Charges

INR 750

Additional Repayment Schedule

INR 500

Loan Cancellation Charges

INR 1000

Note: The above charges are exclusive of GST. Please refer to your loan agreement for the exact charges.

HDB Finance Personal Loans – Prepayment / Foreclosure charges

Prepayment / Foreclosure charges

0-6 months

6-12 months

12-36 months

36 months & above

Personal Loans

Not allowed

4%

4%

2%

Note: GST, as applicable, will be charged on prepayment charges

HDB Finance Personal Loans Eligibility Criteria

Salaried

Self Employed

include Salaried Doctors, CAs, employees of select Public and Private limited companies, Government Sector employees including public sector undertakings

include self-employed Doctors, Chartered Accountants, Architects, and Company Secretaries

  • Minimum age of applicant: 21 years
  • Maximum age of the applicant (at loan maturity): 60 years (Or retirement, whichever is earlier) (65 years for Government Employees subject to certain conditions)
  • Minimum employment: Minimum 1 year in employment with minimum 1-month salary credit in the current organization
  • Minimum Net Monthly Income:
    • INR 20000 per month for metros (Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai & Pune)
    • INR 15000 per month for all other locations
  • Credit Score: More than 700
  • Minimum age of Applicant: 22 years
  • Maximum age of Applicant (at loan maturity): 65 years
  • Years in business: Minimum 3 years
  • Minimum Annual Income: 
    • INR 100000 per annum for metros
    • INR 75000 per annum for non-metro locations
  • Credit Score: More than 700

 

Documentation required for Salaried

Salaried include Salaried Doctors, CAs, employees of select Public and Private limited companies, Government Sector employees including public sector undertakings.

  • Proof of Identity & Address Proof (any one):
    • Passport
    • Voters ID
    • Driving License
    • PAN Card
    • Aadhar or Proof of possession of Aadhaar number (no Voluntary basis)
    • Job card issued by NREGA duly signed by an officer of the State Government
    • Letter issued by the National Population Register containing details of name and address
    • Utility Bill (not more than two months old) - electricity, telephone, post-paid mobile phone, piped gas or water bill
    • Registered Rental Agreement
    • Letter of allotment of accommodation from the employer
    • Leave and license agreements with employers allotting official accommodation
  • Date of Birth Proof (any one):
    • Driving License
    • PAN Card
    • Passport
    • Birth Certificate
    • 10th class mark sheet bearing date of birth
    • 12th class mark sheet bearing date of birth
  • Bank Statements: Latest statements / Bank passbook (updated within 90 days)
  • Salary Slips: Latest 3 Months Salary Slip along with latest Form 16 or ITR or Appointment Letter.

Documentation for Self Employed Professionals

Self Employed Professionals include self-employed Doctors, Chartered Accountants, Architects, and Company Secretaries.Here is the list of documents of Self Employed Professionals.

  • Proof of Identity & Address Proof (any one):
    • Passport
    • Voters ID
    • Driving License
    • PAN Card
    • Aadhar Card or Proof of possession of Aadhaar number (on a voluntary basis)
    • Driving License
    • Voter ID
    • Utility Bill (not more than two months old) - electricity, telephone, post-paid mobile phone, piped gas or water
    • Registered Rental Agreement
    • Letter of allotment of accommodation from the employer
    • Leave and license agreements with employers allotting official accommodation
  • Date of Birth Proof (any one):
    • Driving License
    • Pan Card
    • Passport
    • Birth Certificate
    • 10th class mark sheet bearing date of birth
    • 12th class mark sheet bearing date of birth
  • Bank Statements: Latest statements / Bank passbook (updated within 90 days)
  • Income Proof: Latest ITR along with computation of income, balance sheet & profit/loss statements for the last 2 years certified by a Chartered Accountant (CA)

Documentation for Self Employed Individuals

Self Employed individuals include self-employed - Sole proprietors, Partners & Directors in the Business of Manufacturing, Trading, or Services. Here is the list of documents

  • Proof of Identity & Address Proof (for the proprietor; any one):
    • Passport
    • Voters ID
    • Driving License
    • PAN Card
    • Aadhar Card or Proof of possession of Aadhaar number (on a voluntary basis)
    • Driving License
    • Voter ID
    • Utility Bill (not more than two months old) - electricity, telephone, post-paid mobile phone, piped gas or water
    • Registered Rental Agreement
    • Letter of allotment of accommodation from the employer
    • Leave and license agreements with employers allotting official accommodation
    • Registration Certificate
  • Date of Birth Proof (any one):
    • Driving License
    • Pan Card
    • Passport
    • Birth Certificate
    • 10th class mark sheet bearing date of birth
    • 12th class mark sheet bearing date of birth
  • Bank Statements: Latest statements / Bank passbook (updated within 90 days)
  • Income Proof: Latest ITR along with computation of income, balance sheet & profit/loss statements for the last 2 years certified by a Chartered Accountant (CA)
  • Proof of continuation:  Trade license / Establishment / Sales Tax certificates
  • Other Mandatory Documents (any two):
    • Registration certificate
    • Certificate/license issued by the municipal authorities under Shop and Establishment Act
    • Sales or Income Tax Returns
    • CST / VAT / GST certificate (provisional / final)
    • Certificate / registration document issued by Sales Tax / Service Tax / Professional Tax authorities
    • IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT
    • License/certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute
    • Complete Income Tax Return (not just the acknowledgment) in the name of the sole proprietor where the firm's income is reflected, duly authenticated/acknowledged by the Income Tax department
    • Utility bills such as electricity, water, and landline telephone bills

Documentation for Self Employed in case of Private or Partnership Firms

This includes Private Companies and Partnership firms in the Business of Manufacturing, Trading or Services

  • Proof of Identity & Address Proof (for all the partners/directors; anyone):
    • Passport
    • Voters ID
    • Driving License
    • PAN Card
    • Aadhar Card or Proof of possession of Aadhaar number (on a voluntary basis)
    • Driving License
    • Voter ID
    • Utility Bill (not more than two months old) - electricity, telephone, post-paid mobile phone, piped gas or water
    • Registered Rental Agreement
    • Letter of allotment of accommodation from the employer
    • Leave and license agreements with employers allotting official accommodation
  • Date of Birth Proof (anyone):
    • Driving License
    • Pan Card
    • Passport
    • Birth Certificate
    • 10th class mark sheet bearing date of birth
    • 12th class mark sheet bearing date of birth
  • Bank Statements: Latest statements / Bank passbook (updated within 90 days)
  • Proof of continuation: Trade license /Establishment /Sales Tax certificate/ SSI Registration
  • Other Mandatory Documents:
    • Sole Proprietorship Declaration
    • Certified copy of Partnership Deed (to be verified against original)
    • Certified copy of Memorandum & Articles of Association (certified by Directors)
    • Board resolution (in original)
    • PAN Card of the Partnership Firm or Private Ltd Company (Mandatory)
    • Registration Certificate for Partnership firm
    • Power of Attorney granted to a partner, managers, officers or an employee of the firm or a company to transact business on its behalf
    • The complete Income Tax return (not just the acknowledgment) in the name of the Partnership Firm where the firm's income is reflected, duly authenticated/acknowledged by the Income Tax Authorities.

For Pvt Ltd. Companies, the following additional documents are required

  • Certified copy of Certificate of Incorporation and an updated Memorandum and Articles of Association (certified either by Company Secretary / Director)
  • Certified copy of Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account duly signed by two directors or a company secretary
  • Form 32 / DIR 12 duly filed with Registrar of Companies (in cases where the list of directors are not original subscribers to MOA & AOA)
  • Certified copy of Form 18 / INC 22 filed with Registrar of Companies (in cases where the registered office address is different from Certificate of Incorporation)
  • Bank Statements: Latest statements / Bank passbook (updated within 90 days)
  • Income Proof: Latest ITR along with computation of income, balance sheet & profit/loss statements for the last 2 years certified by a Chartered Accountant (CA)
  • Proof of continuation:  Trade license / Establishment / Sales Tax certificates
  • Other Mandatory Documents (any two):
    • Registration certificate
    • Certificate/license issued by the municipal authorities under Shop and Establishment Act
    • Sales or Income Tax Returns
    • CST / VAT / GST certificate (provisional / final)
    • Certificate / registration document issued by Sales Tax / Service Tax / Professional Tax authorities
    • IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT
    • License/certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute
    • Complete Income Tax Return (not just the acknowledgment) in the name of the sole proprietor where the firm's income is reflected, duly authenticated/acknowledged by the Income Tax department
    • Utility bills such as electricity, water, and landline telephone bills

How to apply for an HDB Financial Services Personal Loan?

The loan application procedure for a personal loan very is simple.

  • Click on https://www.investmentcover.com/personal-loan
  • Use the EMI Calculator to find your loan eligibility.
  • Fill in the basic requirements like your Name, Contact Details (phone & email), Current residence city, Desired Loan Amount, Loan Tenure, Current Profession and Monthly Income.
  • After you fill the requirements and submit them, a representative from Investment Cover would reach out to you to take your request forward and assist you with all the formalities.
  • You can rely on the expertise and support from Investment Cover till the loan is disbursed into your bank account.

Alternately, you can apply using any of the following options:

Option 1:

  1. Visit HDB Financial Services website 
  2. Go to the ‘Apply Now’ section 
  3. Check the loan and interest rate details
  4. Fill in all the personal details along with the mobile number OTP verification
  5. Fill in all the Professional details
  6. Upload the required documents
  7. Once submitted, your personal loan application is accepted and an HDB Personal Loan representative will get in touch with you soon

Option 2:

  1. Download the‘ HDB On The Go’ android app
  2. Verify the mobile number with OTP
  3. Click on ‘Apply for a New Loan’
  4. Check the loan and interest rate details
  5. Enter the required loan and applicant details
  6. Enter the required address information
  7. Complete the image / signature
  8. Once submitted, your HDB Personal Loan application is accepted and an HDB Personal Loan representative will get in touch with you soon

Option 3: Visit your nearest HDB Financial Services Branch and get in touch with the HDB Personal Loan representative at the branch.

HDB Financial Services Brach Locator 

Option 4: Call on HDB Financial Services customer support number +91 44 4298 4541 and apply for an HDB Personal Loan.

 

HDB Finance Personal Loan FAQs

Why take a Personal loan from HDB Financial Services?

HDB Personal Loans offer you the following advantages:

  • Maximum loan eligibility
  • Attractive interest rate
  • Flexible repayment tenure
  • No collateral or guarantors required
  • Hassle-free documentation process
  • Quick loan personal loan process and speedy disbursal
  • Flexible EMI options
  • Pre-approved loans and existing offers on our ‘HDB On the Go’ Android app
  • Instant customer service support

What are the benefits of applying for an HDB Personal Loan online?

You can apply for an HDB Personal Loans online through InvestmentCover. The online process is easy and simple and you can complete the process anywhere and anytime without having to travel to a branch. Moreover, you will instantly get to know the loan amount that can be availed based on your eligibility and documentation.

What purposes can you apply for HDB Personal Loan?

You can use the HDB Personal Loan for meeting all types of immediate financial requirements. Be it to buy that LED TV you always wanted or to visit that dream overseas destination or to manage the expenses of a wedding in your family.\

How can I check the status of my HDB Personal Loan application?

You can track the status of your HDB Personal Loan application by any of the following options:

  • Click on ‘My Account’ on the HDB Financial Services website and Enter the DOB or PAN number and verify your mobile number with an OTP.
  • Use the ‘HDB – On the Go’ android mobile app.
  • Use chatbot ‘Ask Priya’ on the HDB Financial Services website.
  • Write to HDB Financial Services 
  • You can visit the nearest HDB Financial Services branch.

HDB Financial Services Brach Locator 

On what criteria may the HDB Personal Loan be sanctioned to me?

HDB Personal Loans are sanctioned based on your creditworthiness/credit score, your eligibility, your repayment capacity, and any other internal terms and qualifications as decided by HDB Financial Services from time to time.

What are the ways to repay HDB Personal Loan?

HDB Personal Loan EMIs are repaid through RBI’s Electronic Clearing Service (ECS).  To set-up the ECS facility, please contact your nearest branch or write to customer support or raise a service request from our mobile app “HDB on the GO”.

Are there any foreclosure and part-prepayment charges on HDB Personal Loans?

  • Foreclosure and part-prepayment charges would apply in case of HDB Personal Loan are being repaid in full before the tenue.
  • You can prepay your loan after payment of 06 EMIs.
  • Please nearest HDB Financial Services Branch with a Prepayment request form as per format with supporting documents.

From where can I download the "HDB On the Go" mobile application?

  • The “HDB on the Go” mobile application can be downloaded from the Google play store or by simply clicking the link 
  • This mobile app is currently available only for Android users.

Can I access your mobile app "HDB on the GO" offline?

“HDB on the Go” mobile app is available online only.

I am your existing customer. However, I had not given my mobile number at the time of the HDB Personal Loan application. Only the landline number was shared. Is it possible for me to view my HDB Personal Loan application details on the "HDB on the Go" mobile app?

  • You can register the mobile number by raising a request in the branch for updating your mobile number in HDB Financial Services records.
  • Post successful updating of your mobile number you can use the “HDB on the Go” Mobile App.

Can I access my previous HDB Personal Loan details in "HDB on the GO" & Web portal?

Closed loan details are not available on the “HDB on the Go” Mobile App.

This month HDB Personal Loan EMI got bounced. What is the process for online payment?

  • Login to the website www.hdbfs.com & click on the "Pay online" option on the top right corner of the page and follow the process mentioned.
  • You will be securely directed to the payment screen of your chosen bank. You can then make the payment through your net banking.
  • Please note that EMI bounce may impact your creditworthiness/credit score.

How can I get my communication address changed in my HDB Personal Loan account?

You will have to submit the following documents at the HDB Financial Services branch:

  • Miscellaneous service request form.
  • Self-Attested copy of your new address proof along with the originals for validation.
  • CKYC application form as per the prescribed format in Annexure A1.
  • After verification by the branch officials, within 7 working days, the new communication address will get updated in the records.

How can I get my email ID updated to my loan account?

You can update your email ID in the below ways:

  • Call customer support at +91 44 4298 4541 (10 am to 6 pm, Monday - Friday, excluding national & regional holidays), enter your loan account number and select your preferred language and place the request.
  • Provide a request for updating the email ID via the "HDB on the Go" mobile app.
  • You can write to HDB Financial Services 
  • You can also visit the nearest HDB Financial branch and give the request personally.
  • Email Update requests are actioned within 3 working days.

How can I find the branch address nearest to me?

HDB Financial Services Brach Locator

I have not utilized the HDB Personal Loan disbursed. Can I cancel the HDB Personal Loan?

  • To cancel the HDB Personal Loan, a request has to be submitted to the HDB Financial Services branch within 7 days from the date of disbursement.
  • Loan cancellation charges will be applicable and the charges applicable are detailed in "Interest Rates & Charges" under the Customer Support page in our website www.hdbfs.com.

What happens after I have paid the last installment?

  • Post HDB Personal Loan closure, NOC link is sent via SMS & email to customer registered email id/phone number. The link is valid only for 10 days.
  • A No-Dues letter is issued on request for the closure of the HDB Personal Loan.

How can I get my un-banked PDC or security PDCs after HDB Personal Loan closure?

All the un-banked PDCs / SPDCs are destroyed after loan closure.

From where can I get to know the status of my HDB Personal Loan application?

You can view the status of your HDB Personal Loan application by

  • Login to HDB Financial Services website www.hdbfs.com and click on My Account.
  • Enter the registered mobile number, DOB or PAN number, CAPTCHA & hit on send OTP.
  • After verifying the OTP, the HDB Personal Loan status can be viewed.
  • Alternately download the "HDB on the Go" mobile app from the Google play store and start viewing the real-time status of the loan application irrespective of the channel through which you had applied for the loan.
  • You can also visit our branch or write to them

How do I get information on my existing loan?

You can get information such as the outstanding loan amount, number of installments paid or remaining installments, etc. by

  • Login to HDB Financial Services website www.hdbfs.com and click on My Account.
  • Enter the registered mobile number, DOB & PAN Number, CAPTCHA & hit on send OTP, post verifying the OTP the details can be viewed.
  • Alternately download the "HDB on the Go" mobile app from the Google play store and view the loan summary section.
  • You can also get information by visiting our nearest branch in your city 

 

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