HDFC offers Personal Loans to borrowers to easily tackle any financial crisis that comes their way. They offer up to Rs.40 lakhs as personal loan with a flexible tenure that goes up to 60 months. However, there are a number of criteria an applicant needs to meet in order to be for an HDFC Personal Loan.


HDFC Personal Loan Eligibility Criteria 

Here we lay out a few criteria a borrower needs to remember when they apply for an HDFC Personal Loan. 

  • The applicant must be at least 21 years old at the time of application and a maximum of 60 at the time of loan maturity.
  • The applicant must be a salaried employee of a private limited company or public sector undertaking (including central, state, and local bodies)
  • Minimum net monthly income must be Rs.20,000 if living in metro cities such as Delhi, Bangalore, Mumbai, Hyderabad, Chennai, Ahmedabad, Kolkata, and Cochin, and Rs.15,000 if living anywhere else in India.
  • The applicant must have work experience of over 2 years with a minimum of 1 year with the present organization.

Eligibility Calculation for HDFC Personal Loan 

With Fincity, you can now check your personal loan eligibility in minutes. Use the Personal Loan Eligibility Calculator to find out if you are eligible for an HDFC Personal Loan. All you need to do is enter a few details such as your loan amount, monthly income, current city, profession and you can access your eligibility status instantly. 

Factors influencing HDFC Bank Personal Loan Eligibility 

Age: A lender perceives a younger borrower as having more working years left to repay the loan than someone nearing retirement. Therefore a younger borrower is more likely to get their loan approved for a higher amount and longer tenure.

Credit Score: Having a credit score of 700 and above makes you a reliable borrower on the eyes of the lender. It reflects good credit behavior and increases your chances of getting an HDFC personal loan. 

Net Monthly Income: A higher income indicates a better ability to repay the loan and betters your chances of getting a higher loan amount approved. 

Type of Employment: An applicant must be salaried with a stable income in order to qualify for an HDFC personal loan. 

Work Experience and Job StabilityHDFC prefers applicants who have a minimum total work experience of 2 years with at least 1 year with the current employer. This indicates that the borrower has a stable job with a stable income. 

Residential Status: Lenders also look at the applicant’s residential status while evaluating their eligibility. An individual living in their own house don’t have to pay rent from their salary and are left with more money every month to pay as EMI for the new loan. 

Mode of Salary: Salary transferred to the bank account are considered as evidence of income by the lender. Hence, an account transfer of salary is preferred over cheques and cash by banks.  

Industry Type: HDFC Bank has a list of professions and type of industries that should match an applicant in order for them to qualify for a personal loan. 

How Can You Improve Your HDFC Bank Personal Loan Eligibility? 

Maintain a Good Credit Score: Your financial behavior and repayment pattern is reflected by your credit score. This makes credit score a very important factor to determine your eligibility for a personal loan. Having a good credit score can increase your chances of getting a personal loan while a poor credit score may get you a loan but at a high-interest rate.

Avoid Applying for Multiple Loans at the Same Time: Many people assume that applying for a personal loan with multiple lenders increases their chances of getting a loan. However, this is not true. Every time you apply for a loan, the lender places an inquiry for your credit report. This inquiry gets recorded and can be viewed by future lenders, making you appear credit hungry. This negatively impacts your chances of getting a loan at a competitive rate. 

Pay Off or At Least Reduce Your Debts: When you have a significant debt to your name, it affects your debt-to-income ratio. When you pay off your outstanding credit card dues and loan, you reduce your DTI and increase your repayment capacity. This helps you get a loan sanctioned more easily. 

 Make Sure to Choose the Loan Amount Carefully: Remember to go for a loan amount that you can easily repay while also handling other necessary monthly expenses. Evaluating your repayment capacity and choosing the right loan tenure is vital so you don’t default and weaken your chances of future loans. 

Role of Credit Score in Determining Your HDFC Personal Loan Eligibility 

As mentioned earlier in this article, your track record from previous lenders and credit behaviour gets recorded in your credit score. This makes your credit score the most important factor when it comes to determining your personal loan eligibility. When you apply for an HDFC Bank personal loan, the bank your credit report thoroughly; this includes your past running loans and payment track of credit card bills and loan EMIs. A high credit score indicates a good credit behaviour and therefore improves your chances of getting your loan approved. Although a low credit score may still get you a loan for a higher rate, a credit score of less than 650 will make you ineligible for an HDFC personal loan.


A Few Factors That Impact Your Credit Score

Multiple Loan Applications: Applying for a loan with multiple lenders brings down your credibility as a genuine borrower, making you look credit hungry. Each inquiry impacts your credit score and a low credit score may lead to a rejection by HDFC Bank for a personal loan. 

High Usage of Credit Limit: It is advisable to keep your credit utilization limited to less than 30%; this indicates that you have a higher repayment capacity. It also shows that you are disciplined when it managing your credit. Spending more than your credit card limit indicates financial stress and can bring down your credit score. 

Numerous Unsecured Loans: It’s recommended to maintain a balance of secured and unsecured loans. Too many unsecured loans are likely to have a negative effect on your credit score. 

Late Payment or Defaulting on Prior Loans: Delayed or missed EMI payments will indicate poor credit behaviour and therefore pull down your credit score. This, in turn, may also affect your chances of getting an HDFC personal loan.  


How to Get a Pre-Approved Personal Loan from HDFC? 

Existing customers with a good credit history can get a pre-approved personal loan from HDFC Bank. First the bank runs an initial analysis of the customer’s financial standing, and then checks their repayment history. If you are an HDFC Bank customer with a good savings history, account bank balance, and a good repayment record, then you should not have a problem in securing a pre-approved loan from the bank.    

How to Get a Personal Loan with low Credit Score? 

 Let’s look at a few ways you can get a personal loan even if you have a low credit score. 

  • Have your spouse or family member be a co-applicant for the personal loan. 
  • Apply for the personal loan with a guarantor who already has a good credit score. 
  • Check employer-lender tie-ups; they can help you get a loan despite having a low credit score. 
  • Consult with the bank and see if they offer the option to attach collaterals to the loan such as property, fixed deposit, etc. This may give you access to a loan even with a poor score.  
  • Check with options offered by non-banking financial companies (NBFCs). They may offer personal loans to applicants with a low credit score at a high-interest rate.

Find Your Personal Loan Eligibility with Fincity Experts 

Wonder if your current credit score can get you a personal loan? Connect with our financial advisors at and have them evaluate your profile thoroughly before suggesting the best loan options for you. With 50+ banks under one roof, we assure you the best rates that stay low over the life of the loan.


I hereby declare that I have read the consent. and I appoint and allow FINCITY to access my credit information from Credit Information Companies in order to understand my creditworthiness and thereinafter provide personalized values that would help them generate the Credit Information Report, Credit Score, and Credit Analysis. I/We hereby authorize FINCITY & its affiliates including banking partners to call or SMS and/or WhatsApp with reference to my application or in relation to any of FINCITY products, notwithstanding anything to the contrary that may be contained anywhere, including any registration for DNC/ NDNC.


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