What is the Personal Loan Eligibility Criteria of HDFC Bank?


  • Check HDFC Personal Loan Eligibility online before applying for a smooth approval
  • But what is the eligibility criteria of this bank - Read this to know the same!

You can get a personal loan from HDFC Bank to overcome your financial problems or fulfill your wishes. But, before applying for it, you must know its eligibility criteria. Because if you don’t fit in, you can’t borrow from the bank. Even if the bank agrees, the loan may come at a higher rate of interest. Read the page further to know what is the personal loan eligibility criteria of HDFC Bank.

HDFC Bank Checks Your Repayment Capacity First

The bank provides you the loan based on your income. It is necessary to have a regular source of income to apply for the loan. If you don’t have the required income asked by HDFC Bank for a personal loan, the application may get rejected. You have an option to add a co-applicant, who must be earning, to your loan to boost the chances of approval.

Every individual who is salaried and working in the government, private, or IT sector can get a personal loan. But they need to have at least 2 years of work experience, and one year of which should be with the current organization.

Required Salary for HDFC Personal Loan

  • If you are a resident of Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad and Cochin, your income has to be a minimum of INR 20,000 per month
  • A monthly salary of INR 15,000 monthly salary is enough to make you eligible for the HDFC loan

Use the HDFC Bank eligibility calculator!

To get an instant answer to your eligibility queries, you can use the HDFC personal loan eligibility calculator. You can make use of it by inserting details like company name, take-home salary, work experience, age, and running loan EMI, if any. By having all the details, HDFC Bank computes the amount you are eligible for.

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For example, Namita has been working in a reputed multinational company and gets an in-hand income of INR 40,000 per month. Then based on the company reputation and job stability the loan limit is set which probably INR 15 lakh in this case.

Factors That Affect Your Personal Loan Eligibility

There are various factors which can lower the eligibility for an HDFC personal loan, have a look at the pointers below to know about them.

Credit score: HDFC Bank checks the credit score and repayment history of an applicant before approving the loan. You should have a minimum credit score of 700-750 to get a hassle-free approval.

Age: HDFC Bank grants personal loan applications for individuals aged between 21-60 years.

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