In this blog, we will discuss HDFC Personal Loans. This loan app is called the HDFC Loan Assist App, and you can take different types of loans from this app. However, this blog will only discuss HDFC personal loans and how to take a personal loan from HDFC Loan Assist.
Before you finish reading this blog, you will be well versed with all the HDFC personal loan details, such as HDFC personal loan Eligibility, HDFC personal loan Interest rate, HDFC personal loan customer care, Tenure, Features, how to Download, Install, and apply for HDFC Loan Assist, and the most important Frequently Asked Questions.
What is HDFC Loan Assist?
HDFC Loan Assist is an application launched by HDFC Bank and is available for free on Google Play Store and Apple App Store. HDFC Bank has launched this app for its existing and non-HDFC Bank customers. So, anybody can download the HDFC Loan Assist app and apply for various loans at HDFC Bank.
Loan Assist offers various types of loans to customers like Personal Loans, Car Loans, Two-Wheeler Loans, Home Loans, Education Loans, and Business Loans. You can also keep track of your EMIs and finances via this HDFC Loan Assist App.
With Loan Assist App you can apply for any type of loan offered by HDFC Bank without going to the bank and the process is completely online and digital.
HDFC Personal Loan Details from Loan Assist App
| App Name | Loan Assist – Quick Bank Loans |
| Bank | HDFC Bank |
| Loan Amount | ₹50,000 to ₹40 lacs |
| Tenure | 3 months to 84 months |
| Interest Rate (APR) | 10% to 35% per annum |
| Processing Fee | 2.5% of Loan Amount |
| Franking Charges | ₹ 100 (Charged as per State law) |
| Documents Required | Age proof, Address proof, and Income Proof |
| Who Can Apply | Salaried, Self-employed, Small Businessman |
| App Downloads | 5M+ |
| App Rating | 4.1 |
What is HDFC Personal Loan Eligibility?
If you wish to take a personal loan from HDFC Bank, you should be aware of the personal loan eligibility criteria. Below are a few criteria, which you should know before applying for HDFC Loan Assist. You can also visit the official bank website for the personal loan eligibility calculator.
The following people are eligible for personal loan
- You should be an employee of any Private Limited company or Central Government, State Government, or Local bodies.
- Your age should be between 21 years and 60 years.
- Your work experience should be a minimum of 2 years and you should be working with your current employer for 1 year.
- Your minimum salary for a personal loan in HDFC Bank is ₹25000 per month.
How much are HDFC Personal Loan Interest Rate, Processing Fees, and other charges (if any)?
HDFC personal loan interest rate is low as compared to other banks, but when a bank offers you a loan the interest rate is decided on the risk profile of the customer. If your CIBIL score is high and your risk profile is lower or if you are a government employee or employed with a very reputed private limited company, then personal loan Interest Rates will be lower.
Find below HDFC personal loan interest rates and other charges.
| Interest Rate | 11% to21% per annum |
| Processing fee | 2.5% of the loan amount |
| Stamp Duty & other charges | ₹ 100 (Charged as per State law) |
| Charges Post Loan Disbursement | |
| Overdue EMI Interest | 2% per month of EMI / Principal overdue |
| Legal Incidental Charges | At actuals |
| Amortization Schedule Charges / Repayment Schedule Charges | ₹ 50 per instance |
| Repayment Mode change charges | ₹ 500 + GST |
| EMI / Payment Return Charges | ₹ 450 + GST |
| Loan Cancellation Charges & Rebooking Charges | NIL for cancellation of Loan but Processing fees would be retained.₹ 1000 for rebooking the loan |
| HDFC Personal Loan Preclosure Charges | 4% of the Outstanding Principal Amount |
Loan Assist HDFC Personal loan Example
Below is an example of an personal loan from Loan Assist HDFC
| Loan Amount | ₹ 1,00,000 |
| Tenure | 12 months |
| Interest Rate | 11.49% |
| Processing Fees | ₹ 2359 |
| Franking Charges | ₹ 100 |
| Net Amount Credit to Customer | ₹ 97541 |
| EMI | ₹ 9291 |
| Total Payment after 12 months | ₹ 111,490 |
| Total Interest | ₹ 11,490 |
- Also Read – SBI Personal Loan
- Also Read – Navi Personal Loan
Experience the difference with HDFC Loan Assist. Download the app now!
What are HDFC Personal Loan Documents?
Few mandatory Personal Loan Documents required are
| Identity Proof | Passport/Aadhar card/Voter id/Driving License |
| Address Proof | Passport/Aadhar card/Voter id/Driving License |
| Bank Statement | Previous 3 months Bank statement ORPrevious 6 months Bank Passbook |
| Income Proof | Two latest Salary Slip OR Current dated Salary Certificate with the latest Form 16 |
HDFC Personal Loan Apply – HDFC Personal Loan Process
Step 1 – HDFC Loan Assist App Download
Search on Google Play Store or Apple App Store for Loan Assist – Quick Bank Loans and Install the app. Open the HDFC Loan Assist app and click on continue.
Step 2 – HDFC Loan Assist Login
Enter your mobile number and check all the boxes and click on Submit. You will receive an OTP to create your HDFC Personal Loan Login.
Enter the OTP you have received and create an account. HDFC Loan Assist App will ask you to set a 6-digit pin. Set the pin and continue to Home Page.
Step 3 – HDFC Personal Loan
On the homepage you will find a few options, click on Loans & Cards, and on the next page select the type of HDFC loans you wish to take.
Click on the Personal Loan Tab.
Step 4 – HDFC Personal Loan Apply
Click on apply now and select if you are Salaried or Self-Employed.
Step 5 – HDFC Bank Personal Loan Eligibility
If you are a salaried employee, then it will ask for your current employer, the Industry you work in, your monthly Salary, do you have any current monthly Payments, and if you have an HDFC bank Salary Account.
Complete these details and Check your HDFC Personal Loan Eligibility.
If you are Self-Employed, then it will ask if you want to do an Aadhar based e-KYC or Physically officially valid document (OVD) where you will have to physically hand over documents to an HDFC Bank representative or at the bank branch.
Step 6 – HDFC Personal Loan Details
If you have selected as Salaried, then by now Loan Assist App must have shown your HDFC personal loan eligibility and the maximum loan amount you can take.
But, if you have selected Self-Employed and selected Aadhar e-KYC then you can click on Agree & Proceed tab and enter your Aadhar number on the next screen.
Now, if you have chosen physical verification then the below screen will appear and you will have to fill in your general details like name, address, DOB, income details, business details, etc, and click on continue.
Step 7 – HDFC Personal Loan Documents – Upload
In this step, if you are eligible for HDFC Personal Loan you will be required to upload documents and after verification, your loan will be disbursed.
HDFC Loan Assist App Features & Benefits
- Quick Loans – Apply anytime and from anywhere for HDFC personal loans, car loans, two-wheeler loans, education loans, and even business loans at flexible interest rates and get quick approvals.
- Easy Loan Availability – Enjoy easy access and instant approvals for a variety of loans from the HDFC Loan Assist App.
- Easy Access to details – Check your information anytime or anywhere from your mobile like EMI status, pending EMIs, Tenure, Overdue charges, remaining principal amount, and interest rate changes… Etc. on HDFC Loan Assist App.
- Manage your Finance – Track and Manage your loan details online, apply for new loans or top-up or multiple products.
- Highly Secure – Security is guaranteed with the HDFC loan assist app.
Types of loans offered on HDFC Loan Assist.
- Personal Loan
- Home Loan
- Education Loan
- Car Loan
- Two-Wheeler Loan
- Gold Loan
- Business Loan
- Loan Against Property
- Workin Capital Loan
- Construction Activity Loan
- Commercial Vehicle Loan
- Also Read – SBI Personal Loan
- Also Read – Navi Personal Loan
HDFC Customer Care Number
HDFC Customer Care Number
1800 202 6161 / 1860 267 6161
(Accessible across India)
Use these numbers for all you queries or issues related to HDFC, as you can use these numbers for Loans, Credit Card, Mutual Funds, etc… Do not use any other numbers available online as it may put you at risk of fraud.
Customers traveling abroad can reach us at +9122 61606160
Note – Charges may be applicable as per your tariff plan with your service provider.
HDFC Customer Care – Timings
Between 8 am to 8 pm on all days including Sundays and public holidays.
HDFC Grievance Redressal Officer
If the resolution provided above does not meet your expectation, you can approach our Grievance Redressal Officer through any of our access channels mentioned below. Please share the previous complaint number while accessing these channels.
| Grievance Redressal Cell (Banking Products) | |
| Call us – 1800 266 4060 | Monday to Saturday |
| 9.30 am to 5.30 pm | |
| This facility is not available on 2nd & 4th Saturdays, all Sundays and Bank Holidays | |
For Banking Products & Depositary Services write to
Mr. Mehernosh Dhamodiwala (Grievance Redressal Officer)
Grievance Redressal Cell, HDFC Bank Limited,
1st Floor, Empire Plaza – 1, Lal Bahadur Shastri Marg,
Chandan Nagar, Vikroli West,
Mumbai – 400083
Register on SCORES portal
Mandatory details for filing complaints on SCORES
Name, PAN, Address, Mobile Number, E-mail ID
Frequently Asked Questions (FAQ)
Q1. How to do an HDFC Personal Loan Foreclosure?
Ans. To make an HDFC Personal Loan Foreclosure, you will have to visit the branch along with your loan account details and submit a Demand Draft or Cheque at the branch. You can foreclose any personal loan only after payment of the first 12 EMIs. If you wish to pay cash, only ₹ 49,000 is allowed and if the cash is more than ₹ 49,000 then only a Demand draft or Cheque is allowed.
Q2. How to take an HDFC Bank Personal Loan?
Ans. You can download HDFC Loan Assist App from the Google play store or the Apple app store and apply for a personal loan or any other loan from HDFC. You can also visit any HDFC bank branch or use net banking to take an HDFC personal loan.
Q3. How can I apply for HDFC Personal loan Top up?
Ans. HDFC personal loan top up is only applicable if you have an existing loan from HDFC bank. If you have paid 12 EMIs regularly and on time without any EMI bounce, you might receive a top up offer from HDFC.
Q4. How much time does it take for an HDFC personal loan approval?
Ans. If you are an existing HDFC bank account holder and you have a pre-approved loan offer, then it will take a few seconds and the amount will be in your bank account. But if you are not an account holder it may take close to 4 hours for an HDFC personal loan approval.
Q5. What are the charges for late payment of HDFC personal loan EMI?
Ans. If you make any late payments of the EMI, then you will be charged an overdue EMI interest of 2% per month on the outstanding principal amount. You will also be charged EMI bounce charges of ₹ 550 on every EMI bounce.
Conclusion
HDFC Loan Assist is an easy-to-use application and even non-HDFC customers can apply for different types of loans on this app. You can access all your different loan information through this app and also can request a repayment schedule or amortization schedule.
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