Check HDFC personal loan and get pre-approved loan in 10 seconds

Loan applicants can get pre-approved loans from HDFC Bank in 10 seconds. If you have a good credit history and a track record of financial discipline, you may be qualified for a pre-approved Personal Loan.

Existing customers of HDFC Bank may now take advantage of a paperless instant lending plan, which allows them to receive funds from personal loans in as little as 10 seconds. Customers will benefit greatly from the speedy disbursement of payments, especially in emergency situations. The loan application process is fully paperless. The 10-second loan is a service provided by HDFC Bank’s digital banking platform. 

Let’s break down the differences between a personal loan and a pre-approved loan. 

• A personal loan is an unsecured loan that you can get from any bank or financial organisation. There is no requirement to put up any kind of security or collateral. 

• A pre-approved loan, on the other hand, is a speedier way to be qualified for speedy cash without having to submit any more documents. 

• It is available to existing bank customers who have a good track record of repaying dues and EMIs on previous loans. 

In 10 seconds, learn about the key features of a pre-approved personal loan from HDFC. 

• There isn’t any paperwork. 
• Interest rates that are reasonable 
• Processing is completed right away. 
• Multipurpose loan. 
• In the case of loan disbursements, this is a time saver. 
• Repayment terms are flexible. 
• There is a loan amount of up to Rs 15 lakhs available. 
• Processing fees are low. 
• There are no hidden fees. 
• There are no fees for paying in advance. 

Advantages of a pre-approved personal loan 

• Process that does not use paper — When a pre-approved personal loan offer is received, the applicant just accepts it online rather than visiting a bank branch or completing the entire application procedure online. All that is required is to call a customer service representative and make a request for monies to be transferred to the account. You can seek a pre-approved loan by logging into your bank account. 

• Because a pre-approved personal loan is for an existing customer, there is no new documentation required and the process is simple. 

• Instant money — The pre-approved loan has a quick approval period because the bank only lends to customers who have a good credit history. The money are disbursed shortly after the borrower applies for the loan. 

• Flexible payback – The loan repayment period is adjustable. A borrower can apply for a loan with a term ranging from 12 to 60 months. 

• Interest rates that are affordable — Pre-approved loans have a reduced interest rate. The interest rates are lower because it is only available to consumers who have a bank account and an established track record, as well as the ability to return the loan on time. 

• The ability to use the money — Personal loans allow you to use the money for whatever you choose.  

Who qualifies for a 10-second pre-approval personal loan? 

• Personal loans may be available to long-term customers with an excellent existing balance, excellent credit history, and a track record of financial discipline. 
• Existing clients’ financial condition and credibility are investigated to see if they have a track record of paying off prior debts and repaying existing loans. A person becomes qualified for a pre-approved personal loan if their track record is verified to be clean. 

In just ten seconds, you can apply for a pre-approved HDFC personal loan. 

• Pre-approval personal loan applications are simple to complete and require only minimal information and an OTP. The monies are sent into the associated savings account in as little as 2-3 minutes. 

The following are the steps to apply for an HDFC personal loan: 

• Log in to the HDFC net banking account. 
• To see the deals, go to the offers tab and click on it. 
• Look for the Offers link on the left-hand side of the screen. 
• Select “Get it Now” from the drop-down menu. 
• Without any documentation or verification, the monies will be credited to the associated bank account. 

HDFC Personal Loan Eligibility Calculator 

In India, salaried and self-employed individuals can apply for HDFC Bank personal loans. If you are a bank customer, you can use the net banking platform to check your eligibility for an HDFC personal loan. If you meet the eligibility requirements, you may be eligible for a loan of up to Rs.40 lakhs with a payback period of up to 60 months. 

Particulars	Salaried	Self-Employed
Age	21 – 60 years	21 – 65 years
Minimum Income	Rs.15,000*	Rs.5 Lakh p.a.
Co-applicant	Not mandatory	Not mandatory
Loan Tenure	12 – 60 months	12 – 60 months
Maximum Loan Amount	Rs.40 Lakh	Rs.40 Lakh
Employment Type	Employees of private limited companies and public sector undertakings	Self-employed individuals
Employment/Business Continuity	At least 2 years; minimum 1 year with current employer	4 years Post Qualification experience for Doctors/ Chartered Accountants. 5 years Post Qualification experience for Company Secretary / Architect.
CIBIL Score	750 and above	750 and above
Residential Status	Resident Indian staying in own house or a rented house

Factors Affecting HDFC Personal Loan Eligibility  

• Age – As previously stated, the bank does not provide personal loans to those under the age of 21. These individuals are thought to be excessively dangerous, and there’s a chance they won’t be able to meet the loan’s income requirements. Applicants above the age of 60 are also ineligible for the loan because they may not have a consistent source of income. 

• Net Monthly Income – Your net monthly income indicates how easily you will be able to pay back your personal loan EMIs. The more money you make, the more likely you are to be able to pay your EMIs. As a result, you may be eligible for a larger loan.  

• Work Experience – You are more likely to get reasonable pay if you have worked for the same company for at least two years. It’s possible that you’ll continue with the same company for a longer period of time. In this manner, you’ll have a steady income throughout the repayment period. 

• CIBIL Score – You have a CIBIL score of 750 or above that means you have an excellent payback history for past loans if you have a score like this. As a result, you are a more dependable borrower. 

• Residential Status — If you live in your own home, you have a better chance of getting a personal loan. The fact that you will not be paying any amount of your money as rent is one of the key reasons behind this. This means you’ll have more money left over to cover your monthly loan installments. Furthermore, unlike a borrower who can quickly abscond from his or her rented housing after failing to pay an EMI, you would be immediately traceable at your permanent dwelling. 

• Employment Type — A HDFC personal loan is more likely to be granted if you are a salaried or self-employed individual with a consistent income. 

Conclusion: 

To conclude, HDFC personal loan eligibility calculator is easy to use and improves the chances of getting a personal loan. You can also get pre-approved in 10 seconds from HDFC. Afinoz can be a great help in order HDFC personal loan at a low-interest rate with flexible repayment tenure.