HDFC Bank Salaried Employee Personal Loan

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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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Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Expenses can come in various forms. For salaried employees, HDFC Bank has designed personal loan products to help them meet their vast needs. HDFC Salaried Employee Personal Loan is a special loan provision that allows the working class to procure capital to fund their plans. With the HDFC Salaried Employee Instant Loan, customers can enjoy fast approval and quick loan disbursal. The interest rates are lucrative and competitive, ranging from 10.50% to 25%. Lastly, the loan is sanctioned only after a thorough background check and is subject to clearing the eligibility criteria.

HDFC Personal Loan for Salaried Employee – Highlights

The table below showcases various details regarding HDFC personnel loans for salaried employees. These details include the interest rate, loan amount, tenure and processing fee, to name a few.

Feature	Description
Interest rate	10.75% – 14.50%
Loan amount	Rs 50,000 to Rs 40 lakh
Tenure	12 to 60 months
Processing fee	0.99%-2.50% of the loan amount
Eligibility	Salaried employees at select private limited companies and public sector undertakings
Age	21 to 60 years
Documentation	Identity, address, date of birth, income and employment proofs
Disbursal time	10 seconds for pre-approved HDFC Bank customers, 4 hours for others

Compare HDFC Employee Loan from Other Banks

Below is a table that compares salaried employee’s loans offered by other banks and lenders.

Bank	Interest Rate	Loan Amount	Tenure	Processing Fee
HDFC Bank	10.75% – 14.50%	Rs 50,000 to Rs 40 lakh	12 to 60 months	0.99%-2.50% of the loan amount
Axis Bank	10.49% – 24%	Rs 50,000 to Rs 15 lakh	12 to 60 months	1.5%-2% of the loan amount
Kotak Mahindra Bank	10.25% onwards	Up to Rs 20 lakh	12 to 60 months	Up to 2.5% of the loan amount
SBI	9.60% – 13.60%	Rs 25,000 to Rs 20 lakh	6 to 72 months	1% of the loan amount
IDFC	10.49% – 32.5%	Rs 1 lakh to Rs 40 lakh	12 to 60 months	Up to 3.5% of the loan amount
DBS	10.99% – 23.99%	Rs 5,000 to Rs 5 lakh	12 to 60 months	2.5% of the loan amount

HDFC Personal Loan for Salaried Employee – Fees and Charges

The table below pertains to the various fees and charges levied on an HDFC personal loan for salaried employees.

Fee/Charge	Amount
Interest Rate	10.50% to 24%
Processing Fee	Up to 2.50% of the loan amount, subject to a minimum of Rs 1,999 and a maximum of Rs 25,000
Delayed Instalment Payment Charge	18% p.a
Legal/Incidental Charges	At actuals
Amortisation Schedule Charges	Rs. 50/- per schedule for physical copy
Repayment Mode Change Charges	Rs. 500/-
Payment Return Charges	Rs. 450 Per Instance
Loan Cancellation Charges	Interest is charged from the date of disbursement till the date of loan cancellation
Rebooking Charges	Rs. 1000/- + applicable government taxes
Premature Closure Charges (For Full Payment)	Up to 4% of principal outstanding
Premature Closure Charges (For Part Payment)	Up to 4% of part payment amount

HDFC Personal Loan for Salaried Employee – Documents Required

The documents required for HDFC Personal Loan for salaried employees are identity proof, address proof, salary slips for the last three months, bank statements for the last six months, and proof of employment. Additional documents may be required depending on individual circumstances.

HDFC Personal Loan for Salaried Employee – Eligibility Criteria

To bе еligiblе for HDFC Pеrsonal Loan, salariеd еmployееs must bе bеtwееn 21-60 yеars of agе and havе a minimum monthly incomе of Rs. 25,000. The loan amount approved may range from Rs. 50,000 to Rs. 40 lakhs. Thе borrowеr must havе a good crеdit scorе and no history of dеfault on previous loans or crеdit cards.