HDBFS Personal Loan

HDB Financial Services Loans

• They are easy to avail and developed to suit the financing needs of a wide range of customers.
• These loans feature some of the most competitive interest rates vis-a-vis peers, for considerable loan amounts.
• Customers’ requirements are assessed and customised loans are offered so as to effectively satisfy their financial needs.
• Qualified customers receive quick approvals i.e. within 72 hours of submitting documents to process loan requests
• Convenience is an added benefit as customers are offered doorstep collection of documents.
• All customer queries are addressed through a single point of contact, ensuring a smooth and uncomplicated loan process

HDBFS Personal Loan

This is an unsecured loan (no collateral or guarantor required) offered to customers to meet their personal financing needs. These funds can be utilised to meet a wide range of requirements; education, marriage, vacations, home repairs, big-ticket purchases, debt consolidation or refinancing debts and so on. Use of funds is not restricted and when coupled with the company’s quick and simple process to avail loans, HDBFS personal loans are the ideal choice for a wide range of borrowers.

In order to avail these loans, customers will have to satisfy some simple eligibility criteria and submit the required documents.

Key Features of HDBFS Personal Loan

The key features of personal loans from HBD Financial Services are outlined below:

• Quantum of loan: As high as Rs.20 lakhs.
• Loan period: Ranges from 1 to 3 years (12 - 36 months).
• Interest rates: Competitive
• Unsecured: No collateral or guarantor is required to avail the loan.
• Documentation: Minimal
• Special deals: For preferred employees

Current Interest Rate on HDBFS Personal Loan

The current rate of interest ranges from 19% to 21% depending on the borrower’s creditworthiness, the company’s individual credit policy and prevailing market conditions.

Note:- Loans with tenures over 3 years (36 months) are offered with floating rates

Eligibility and documentation - Who can avail an HDBFS Personal Loan?

The basic criteria to be satisfied to qualify for the loan is outlined below depending on the borrower category viz. Salaried, Self-Employed Professionals, Self-Employed Individuals, Self-Employed Private Companies or Partnership Firms

Salaried Applicants:

This refers to all individuals/professions/non-professions/companies earning a salary

• Minimum age: 21 years
• Maximum age on loan maturity date: The earlier of - 60 years for regular borrowers, 65 years for government employees OR age of retirement
• Employment period: 1 year active employment (minimum)
• Salary: 1 month’s credited pay of active employment (minimum)
• Minimum pay: Rs.20,000 (Metros i.e. Chennai, Bangalore, Hyderabad, Mumbai, Pune, Ahmedabad, Delhi, Kolkatta), Rs.15,000 - others

Documentation required for a HDBFS Personal Loan

Basic paperwork requirements to process the loan are as follows:

• Proofs: Relevant documents will have to submitted to prove the following
  • Identity: Passport, Ration card with photo, Driver’s license, Voter’s ID, PAN or Aadhar Card
  • Address: Driver’s license, Ration card, Utility, Voter ID (either of these with 3 months validity) OR Rent Agreement, Passport
  • Age/ Birth Date: Birth Certificate, Passport, Driver’s License, PAN card, 10th or 12th mark sheets
  • Income: Most recent 3 months and latest Form 16, Income Tax Return or Appointment letter
• Bank Statement/Passbook: For the 3/6 months immediately preceding the loan application

Self-Employed (Professionals) Applicants:

This refers to self-employed professionals like Doctors, Architects, Chartered Accountants etc.

• Minimum age: 22 years
• Maximum age on loan maturity date: 65 years
• Life of Business: 3 years (minimum)
• Minimum income: Rs.1 lakh (Metros i.e. Chennai, Bangalore, Hyderabad, Mumbai, Pune, Ahmedabad, Delhi, Kolkatta), Rs.75,000 - others

Documentation

Basic paperwork requirements to process the loan are as follows:

• Proofs: Relevant documents will have to submitted to prove the following
  • Identity: Passport, Ration card with photo, Driver’s license, Voter’s ID, PAN or Aadhar Card
  • Address: Driver’s license, Ration card, Utility, Voter ID (either of these with 3 months validity) OR Rent Agreement, Passport
  • Age/ Birth Date: Birth Certificate, Passport, Driver’s License, PAN card, 10th or 12th mark sheets
  • Income: Latest Income Tax Return (ITR), 2 years audited statement of accounts
• Bank Statement/Passbook: For the 3/6 months immediately preceding the loan application

Self-Employed (Individuals) Applicants:

This refers to self-employed sole proprietors, directors or partners

• Minimum age: 22 years
• Maximum age on loan maturity date: 65 years
• Life of Business: 4 years (minimum) of which 2 years pertain to one business
• Minimum income: Rs.1 lakh (Metros i.e. Chennai, Bangalore, Hyderabad, Mumbai, Pune, Ahmedabad, Delhi, Kolkatta), Rs.75,000 - others

Documentation

Basic paperwork requirements to process the loan are as follows:

• Proofs: Relevant documents will have to submitted to prove the following
  • Identity: Passport, Ration card with photo, Driver’s license, Voter’s ID, PAN or Aadhar Card
  • Address: Driver’s license, Ration card, Utility, Voter ID (either of these with 3 months validity) OR Rent Agreement, Passport
  • Age/ Birth Date: Birth Certificate, Passport, Driver’s License, PAN card, 10th or 12th mark sheets
  • Income: Latest Income Tax Return (ITR), 2 years audited statement of accounts
  • Business continuity: Trade or establishment license, Certificate of sales tax
• Bank Statement/Passbook: For the 3/6 months immediately preceding the loan application
• Other documents: Memorandum of Association, Articles of Association, Partnership Deed, Declaration of Sole Proprietorship, Board Resolution

Self-Employed (Partnership Firms or Private Companies) Applicants:

This refers to Trading, Manufacturing, Service-oriented partnership firms and private companies

• Minimum age: 22 years
• Maximum age on loan maturity date: 65 years
• Life of Business: 4 years (minimum) of which 2 years pertain to one business
• Minimum income: Rs.1 lakh (Metros i.e. Chennai, Bangalore, Hyderabad, Mumbai, Pune, Ahmedabad, Delhi, Kolkatta), Rs.75,000 - others; proven profits for most recent 2 years.

Documentation required for a HDBFS Personal Loan

Basic paperwork requirements to process the loan are as follows:

• Proofs: Relevant documents will have to submitted to prove the following
  • Identity: Passport, Ration card with photo, Driver’s license, Voter’s ID, PAN or Aadhar Card
  • Address: Driver’s license, Ration card, Utility, Voter ID (either of these with 3 months validity) OR Rent Agreement, Passport
  • Age/ Birth Date: Birth Certificate, Passport, Driver’s License, PAN card, 10th or 12th mark sheets
  • Income: Latest Income Tax Return (ITR), 2 years audited statement of accounts
  • Business continuity: SSI Registration,Trade or establishment license, Certificate of sales tax
• Bank Statement/Passbook: For the 3/6 months immediately preceding the loan application
• Other documents: Memorandum of Association, Articles of Association, Partnership Deed, Declaration of Sole Proprietorship, Board Resolution

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