HDFC Personal Loan of 5 Lakh

Established in 1994, HDFC Bank is one of the leading banking institutions in India. The bank is a stalwart in the financial industry and, over the years, has emerged as a trusted ally. Its’ personal loan is one of its best products. Today, we will take a comprehensive look at HDFC Bank’s 5 lakh personal loan, designed to meet the diverse needs of individuals ranging from education to home improvement. 

HDFC Bank Personal Loan 5 Lakh- Highlights

Following are the highlights for a 5 lakh HDFC personal loan. 

HDFC 5 Lakh Loan Interest Rate	10.50 % to 25.00% (Fixed Rate)
Processing Fees	Upto 4999 + GST
Tenure	03 Months to 72 Months
Documents Required	No Documents for Pre-approved Personal Loan
	For Non Pre-approved – Last 3 Months Bank statements  2 Latest Salary Slip and KYC

5 Lakh Personal Loan EMI for 1- 5 & 10 Years

Here is a quick rundown of HDFC Bank’s 5 Lakh Personal Loan EMI. 

Loan Tenure	Loan Amount	Interest Rate (p.a.)	EMI
1 Year	5 Lakh	10.50%	INR 44,074
2 Years	5 Lakh	10.50%	INR 23,188
3 Years	5 Lakh	10.50%	INR 16,251
4 Years	5 Lakh	10.50%	INR 12,802
5 Years	5 Lakh	10.50%	INR 10,747

Compare HDFC 5 Lakh Personal Loan from Other Banks & NBFCs

Here is a quick snapshot of the HDFC Bank 5 lakh personal loan comparison with other leading banks and NBFCs. 

Bank Name	Interest Rate (p.a.)	Maximum Loan Tenure
Bank of India	10.25% onwards	7 years
ICICI Bank	10.50% onwards	7 years
State Bank of India	10.55% onwards	6 years
TATA Capital	10.99% onwards	6 years
KreditBee	16% onwards	2 years

5 Lakh HDFC Bank Personal Loan – Fees & Charges

Following is a basic snapshot of 5 lakh HDFC Bank personal loan fees & charges. 

• A processing fee of ₹4,999
• GST of 18% is applicable ​​
• Additional charges, such as stamp duty charges, document verification charges and incidental charges, may also apply

5 Lakh Personal Loan Documents – HDFC Bank 

Following are the documents required for a 5 lakh personal loan HDFC Bank. 

• Duly Filled Loan Application Form 
• Documents like Aadhar Card, voter’s ID, valid passports, and driver’s licence provide ID proof. 
• For address proof of last 3 months’ utility bills, Aadhar card, Voter’s ID, and other documents
• For income proof, one will need to provide recent salary receipts, audited balance sheet, a P&L account, and others

5 Lakh Personal Loan Eligibility –  HDFC Bank 

Following are the eligibility criteria for a HDFC Bank personal loan:

• The applicant must be salaried/ self-employed or a government employee
• The age limit for the person should be between 21-60 years
• The minimum income should be 25,000 per month
• The minimum work experience should be 1 year at the current organisation and 2 years in general
• He or she should be an Indian citizen