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Personal Loan Eligibility Criteria
Introducing HDFC Bank Personal Loan – your ultimate financial solution.
Check your eligibility in just 1 minute! HDFC Bank customers can check their pre-approved loan eligibility via Net Banking or by typing "My Offer" on the bank's WhatsApp number 70700-22222. Enjoy competitive interest rates, borrow up to Rs.40 Lakh, and benefit from a flexible tenure of up to 5 years. With minimal documentation and quick approvals, HDFC Bank Personal Loan helps you fulfill your dreams. Apply now!
Criteria
The following people are eligible to apply for a Personal Loan:
- Employees of private limited companies, employees from public sector undertakings, including central, state and local bodies
- Individuals between 21 and 60 years of age
- Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer
- Those who earn a minimum of 25,000 net income per month.
Personal Loan
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- How is Personal Loan eligibility calculated? Personal Loan eligibility calculation uses six factors to determine your eligibility, they are:
- Geographic location
- Monthly Income
- Ownership of property.
- Existing credit.
- Employer.
- Credit history.
- How do I qualify for Personal Loan eligibility?
To qualify for a Personal Loan at HDFC Bank, you must meet these criteria.
- You need to be an employee of a private limited company or an employee in a public sector undertakings, including central, state and local bodies.
- You need to be between the ages of 21-60 years.
- You need to have a job for at least two years, with a minimum of 1 year with your current employer.
- You need to have a net income of 25,000 per month.
- What is the minimum salary for a Personal Loan? The minimum salary is 25, 000 per month.
- How to check Personal Loan eligibility? You can use the HDFC Bank Personal Loan eligibility calculator on the HDFC Bank Site to check if you are eligible.
- What is the age criterion to get a Personal Loan?
To be eligible for a Personal Loan, you must be between the ages of 21 to 60.
- What is the Minimum Credit Score to apply for a Personal Loan? HDFC Bank requires a minimum credit score of 650 to be eligible for Personal Loans. The credit score can vary from bank to bank.
- What are the factors that affect the eligibility of a Personal Loan? The factors that affect the eligibility of Personal Loans are
- CIBIL Score – A CIBIL score above 720 is ideal for Personal Loans.
- Income – It plays a vital role in the approval of the loan amount.
- Repayment history- If you have a good track record of repayment with previous loans, approval of the loan is faster and easier.
- How to improve Personal Loan eligibility? The best way to improve your Personal Loan eligibility is by maintaining a healthy repayment history.
- Are self-employed individuals eligible for a Personal Loan? Yes, self-employed individuals are eligible for Personal Loans.