Are you facing financial challenges and need quick and hassle-free assistance? HDB Financial Services offers a solution in the form of their HDB Personal Loan. In this article, we will take you through all the important aspects of HDB Financial Services personal loan.
Why Choose HDB Financial Services?
- Collateral-Free Personal Loans: One of the primary reasons to consider HDB Personal Loan is that it’s collateral-free. This means you won’t have to pledge any of your assets to secure the loan, making the application process significantly simpler and faster.
- Competitive Interest Rates: HDB offers attractive interest rates tailored to your specific needs and repayment capacity. This ensures that you not only get the funds you require but also repay them at terms that suit your financial situation.
- Flexible Repayment Tenure: Flexibility is key when it comes to repaying your personal loan. HDB provides repayment tenures that range from 12 to 60 months, allowing you to choose a schedule that aligns with your income and preferences.
- Hassle-Free Documentation: Gone are the days of cumbersome paperwork. When you apply for an HDB Personal Loan online, it’s a paperless process. You only need to upload soft copies of the required documents to get started, simplifying the application further.
- Quick Processing and Disbursal: Waiting for weeks to access your funds is a thing of the past with HDB. They assess your eligibility and documentation swiftly, approving your loan instantly, and disbursing the funds directly into your bank account. This means you can address your financial needs promptly.
- No Collateral or Guarantors Required: Personal loans from HDB are unsecured, eliminating the need for collateral or guarantors. Your financial needs are met without any additional hassle, providing peace of mind during challenging times.
HDB Personal Loan Eligibility Criteria
For Salaried Individuals
- Salaried doctors, CAs, employees of select public and private limited companies, and government sector employees (including public sector undertakings) are eligible.
- Minimum age of the applicant: 21 years
- Maximum age of the applicant at loan maturity: 60 years (65 years for government employees, conditions apply)
- Minimum employment: 1 year with at least 1-month salary credited from the current organization
- Minimum net monthly income: ₹20,000 for metro locations and ₹15,000 for all other locations
For Self-Employed Professionals
- Self-employed doctors, chartered accountants, architects, and company secretaries are eligible.
- Minimum age of the applicant: 22 years
- Maximum age of the applicant at loan maturity: 65 years
- Years in business: Minimum 3 years
- Minimum annual income: ₹100,000 for metro locations and ₹75,000 for non-metro locations
For Self-Employed Individuals (Sole Proprietors, Partners & Directors)
- Self-employed individuals in the business of manufacturing, trading, or services are eligible.
- Minimum age of the applicant: 22 years
- Maximum age of the applicant at loan maturity: 65 years
- Years in business: Minimum 4 years with at least 2 years in the same business
- Minimum annual income: ₹100,000 for metro locations and ₹75,000 for non-metro locations
- Business must be profit-making for the last 2 years
For Self-Employed (Private Companies and Partnership Firms)
- Private companies and partnership firms in the business of manufacturing, trading, or services are eligible.
- Minimum age of the applicant: 22 years
- Maximum age of the applicant at loan maturity: 65 years
- Years in business: Minimum 4 years with at least 2 years in the same business
- Minimum annual income: ₹100,000 for metro locations and ₹75,000 for non-metro locations
- Business must be profit-making for the last 2 years
HDB Personal Loan Documents Required
For Salaried Individuals:
- Proof of identity & address
- Proof of date of birth
- Bank statements
- Latest 3 months salary slip along with latest Form 16 or ITR
For Self-Employed Professionals:
- Proof of identity & address
- Proof of date of birth
- Bank statements
- Latest ITR along with computation of income, B/S & P&L a/c for the last 2 years certified by a CA
For Self-Employed Individuals (Sole Proprietors, Partners & Directors):
- Proof of identity & address
- Proof of date of birth
- Bank statements
- Latest ITR along with computation of income, B/S & P&L a/c for the last 2 years certified by a CA
- Proof of continuation: Trade license, establishment, sales tax certificate
For Self-Employed (Private Companies and Partnership Firms):
- Proof of identity & address
- Proof of date of birth
- PAN card of the partnership firm or private Ltd company (mandatory)
- Registration certificate for partnership firm
- Bank statements
- Power of attorney
- The complete Income Tax return (not just the acknowledgment) in the name of the firm, duly authenticated/acknowledged by the Income Tax authorities
- Proof of continuation: Trade license, establishment, sales tax certificate, SSI registration
How to Apply for an HDB Personal Loan?
Applying for an HDB Personal Loan is a hassle-free process. You have several options to choose from:
From Official Website
- Visit HDB Financial Services Official Website
- Fill in your personal details and verify your mobile number with OTP.
- Provide your professional details.
- An HDB representative will contact you soon.
- Upload the required documents.
Download ‘HDB On The Go’ Android App
- Verify your mobile number with OTP.
- Click on ‘Apply for a New Loan’.
- Enter the required loan and applicant details.
- Provide address information and complete the image/signature.
Visit Your Nearest HDB Financial Services Branch
Get in touch with an HDB personal loan representative at the branch.
Contact HDB Customer Support
- Dial +914442984541 and apply for a quick personal loan.
Thank you for reading this article on HDB Personal Loan. If you are in need of quick and hassle-free financial assistance, HDB Financial Services is the best option. For more information or to apply for an HDB Personal Loan, visit HDB official website or contact HDB customer support at +914442984541.
FAQ
Is collateral required to secure an HDB personal loan?
No, HDB personal loans are collateral-free, making the application process simpler and faster.
How can I apply for an HDB personal loan?
You can apply for an HDB personal loan through HDB’s website, mobile app, by visiting a branch, or by calling HDB customer support at +914442984541.
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