HDFC Personal Loan of 5 Lakh

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Utsah Sharma

Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.

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Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

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
Documents Required	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

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Frequently Asked Question (FAQs)

What is the HDFC Bank monthly interest on a 5 lakh personal loan?

The interest rate for HDFC Bank starts at 10.50%.

Can I get a 5 lakh personal loan from HDFC Bank?

Yes, if you meet the basic eligibility criteria, you can apply for a 5 lakh loan from HDFC Bank.

How do I get a 5 lakh loan without a salary slip at HDFC Bank?

If you meet the basic eligibility criteria and have a good CIBIL score, you can easily apply for a 5 lakh personal loan at HDFC Bank.

What is the CIBIL score for a 5 lakh personal loan at HDFC Bank?

A CIBIL score of 700-750 is considered healthy to apply for a personal loan.