At times you need to borrow funds to finance large purchases, consolidate existing debts or even seek short term help. HDFC Bank offers a wide range of financial products that can be borrowed to suit your financial requirements. Whether you want to apply for loans, loans against assets, other loan option or credit cards, we have the ideal solution for you.
To get a taste of the benefits, products, functions and processing, you can explore our Learning Center. Our editorial content will provide with an insight into our borrowing facilities and options, and help invest in what you are looking for. Whether it is the different loan options, loan against asset features or even insight into credit cards, take a look at our Learning Center to know more.
Whether you want funds for a family wedding, a foreign holiday, child’s education, home renovation or medical emergency — a personal loan is the ideal solution for your urgent financial needs.
How to get a personal loan without security?
A personal loan is one that is provided by a bank to fund a financial need or immediate cash requirement, be it for business, family wedding, studies or foreign trips. The bank will not question you about the end use when you are applying for a personal loan.
However, one of the best things about a personal loan is that it does not require any collateral or security such as property, shares or gold.
What determines my eligibility for a personal loan without security?
You credit rating and worthiness determines your eligibility for a personal loan without collateral. It helps if you are a long-standing customer of the bank. if you have a disciplined repayment history and high credit worthiness, you are likely to get a personal loan on favourable terms. HDFC Bank offers loans up to Rs 40 lakh.
Forget collateral, focus on financial stability
Since personal loans are unsecured (without collateral or security) loans, banks will look at your income, cash flows, strength or stability of your business or employment to make sure you are able to repay the loan. HDFC Bank customers can get personal loans with minimal or no documentation. Visit the HDFC Bank website to know more about our personal loans.
How soon can I get a personal loan without security?
Pre-approved HDFC Bank customers can get a personal loan in as little as 10 seconds*. Others can get a personal loan in under 4 hours*.
Does a personal loan without collateral come with higher interest rates?
Personal loans are usually offered without security. If you have a good credit history, strong income proof, and a long relationship with the bank, you should be able to get good terms.
How can I use the funds from a personal loan without collateral?
That’s entirely up to you. You can use it for business to fund a trip abroad to buy a gadget or to meet a medical emergency.
How is the repayment to be made?
Personal loans are short to medium term (12 to 60 months) loans with a flexible repayment structure. You will typically repay the loan in equated monthly instalments. You can adjust your repayment tenure to make your EMIs pocket-friendly. HDFC Bank offers loans with EMIs starting at Rs 2174 per lakh. Check the personal loan EMI Calculator to plan your repayment better.
