Loan Details

Interest Rate

13% onwards

Processing Fee

Up to 3%

Prepayment

Charges

4% for the first 26 months and 2% after that

Tenure

From 12 to 60 months

  • Eligibility Factors
  • Documents Required
  • Loan Verification Process
  • Rate of Interest
HDB Personal Financial Services Loan Details

a. Age: 21-60/65

b. Credit score: 650-700

c. Employment type: i) Salaried

ii) Self-employed (Individuals)

iii) Self-employed (Professionals)

 

d. Minimum net income (monthly): a) Rs 20,000 for metro cities

b) Rs 15,000 for non-metro locations

e. Work experience:

i) For salaried- 1 year of employment and at least 1-month salary credited by current employer

ii) For self-employed (Individuals): At least 4 years of business stability with 2 years in the
current business

iii) Self-employed (Professionals): At least 2 years of business stability

All borrowers have to submit the following documents:


  • Identity Proof: Aadhar Card / Valid Passport / Driving License / Voter ID / PAN Card / signed NREGA job card / National Population Register letter
  • Address Proof: Aadhar Card / Valid Passport / Driving License / Voter ID / signed NREGA job card / National Population Register letter / Utility bills ( less than 2 months old) / Employer’s allotment of accommodation/ Registered rental agreement
  • Proof of Date of Birth: 10th or 12th marks card / Birth certificate / Valid Passport / Driving License / PAN Card
  • Latest bank statements or passbook photocopy


Besides, salaried individuals have to submit the following documents:


  • Form 16
  • Salary slip from past 3 months / Appointment Letter


Self-employed individuals and professionals also have to submit the following documents for the past 2 years:


  • Latest Income Tax Returns & computation of income for tax purposes
  • CA- Attested financials (Balance sheet/profit-and-loss account with all schedules)


Only self-employed individuals have to submit the following documents in addition to the above:


  • Continuation Proof: Trade or establishment license / Sales Tax certificate
  • Proprietorship Concern (any 2 documents): Registration certificate / ITR and sales tax returns / GST or VAT certificate / IEC code / Tax authorities certificates / Complete ITR of sole proprietor / Utility bills


The interest rate for HDB Financials' Personal Loan depends on the applicant's credit history, income, repayment capacity, tenure, market conditions, cost of funds etc.

The personal loan from HDB can come at an interest rate from 13.99-19%. The better the credit score and income, the lower the rate will be.

The interest rate for HDB Financials' personal loan depends on the applicant's credit history, income, repayment capacity, tenure, market conditions, cost of funds etc.

The personal loan from HDB can come at an interest rate from 13.99-19%. The better the credit score and income, the lower the rate will be.