HDB Financial Services Personal Loan
Meet all your financial needs with HDB Financial Services Personal Loans at affordable interest rates starting at 13%
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.