Personal Loan Eligibility Criteria

Criteria

HDFC Bank offers personal loans in India to salaried and self-employed individuals. You can check your personal eligibility in no time online If you are an existing HDFC Bank account holder, you can check your eligibility for a pre-approved loan via NetBanking.
If you are not an existing customer, our processes are transparent, quick and hassle-free.

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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Personal Loan
for Salaried
Emergency
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Home Renovation
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Personal Loan Benefits

EMI starting at Rs. 1,829/ lac^
Loan up to Rs 40 lacs
Loan disbursal in 4 hours^
Minimal documentation

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.
You can also use Personal Loan eligibility calculators online for the calculation.
How do I qualify for Personal Loan eligibility?
To qualify for a Personal Loan at HDFC Bank, you must meet these criteria.
1. 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.
2. You need to be between the ages of 21-60 years.
3. You need to have a job for at least two years, with a minimum of 1 year with your current employer.
4. 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.
Is a guarantor needed for a Personal Loan?
This usually depends on the lender, but the lender can ask for a guarantor if you have a poor credit score.
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.

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Apply for Personal Loan

Personal Loan Eligibility Criteria

Criteria

Personal Loan for Salaried

Emergency Loan

Debt Cosolidation Loan

Marriage Loan

Home Renovation Loan

Personal Loan for Women

Personal Loan Benefits

Personal Loan Articles

What happens when you borrow money from a friend to pay for your wedding?

Situations in which a Personal Loan can be your saviour

8 Ways to manage your loans better

9 smart ways to snap out of a debt trap today

Personal Loan
for Salaried

Emergency
Loan

Debt Cosolidation
Loan

Marriage
Loan

Home Renovation
Loan

Personal Loan
for Women