HDB Personal Loan

Salaried Individuals 

Salaried Doctors, CAs, employees of select Public and Private limited companies, Government Sector employees including Public Sector Undertakings

Minimum age of applicant

21 years

Maximum age of applicant at loan maturity

60 years (Or retirement, whichever is earlier) For Government Employees - 65 years

Minimum employment

Minimum 1 year employment with the current organization with at least 1-month’s salary credit in the bank account

Minimum Net Monthly Income

Rs. 20,000 for Metro Locations (Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai & Pune)

Rs.15,000 for All Other Locations

Self-employed (Individuals)

Self-employed, Sole proprietors, Partners & Directors in the Business of Manufacturing, Trading or Services

Minimum age of applicant

22 years

Maximum age of applicant at loan maturity

65 years

Years in business

Minimum 4 years with minimum 2 years in the same business

Minimum Annual Income

Rs. 1,00,000 p.a. for metro locations
Rs. 75,000 p.a. for non-metro locations

Self-employed (Pvt Cos and Partnership Firms)

Private Companies and Partnership firms in the Business of Manufacturing, Trading or Services

Minimum age of applicant

22 years

Maximum age of applicant at loan maturity

65 years

Years in business

Minimum 4 years with minimum 2 years in the same business. Business must be profit making for the last 2 years

Minimum Annual Income

Rs. 1,00,000 p.a. for metro locations
Rs. 75,000 p.a. for non-metro locations

Address & ID Proof

• Passport
• Voters ID
• Driving License
• PAN Card
• Aadhaar Card or Proof of possession of Aadhaar number (on Voluntary basis)
• Photo Driving License 
• Utility Bill (anyone which is not more than two months old from any of these service providers - electricity, telephone, post-paid mobile phone, piped gas, water)
• Registered Rental Agreement  
• Letter of allotment of accommodation from employer 
• Leave and license agreements with employers allotting official accommodation

Date of Birth Proof

• Driving License  
• Pan Card 
• Passport 
• Copy of Birth Certificate  
• 10th or 12th mark sheet bearing date of birth

Income Proof

• Latest statements / Bank passbook (updated within 90 days)
• Latest ITR along with computation of income, B/S & P&L a/c for the last 2 years certified by a CA

Additional Documents for Self-employed (Individuals)

• Proof of continuation:  Trade license /Establishment /Sales Tax certificate
• Registration certificate, Certificate/license issued by the municipal authorities under Shop and Establishment Act
• Sales and income tax returns, CST/VAT/ GST certificate (provisional/final)
• Certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities
• IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT/ Licence/certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute
• Complete Income Tax Return (not just the acknowledgment) in the name of the sole proprietor where the firm's income is reflected, duly authenticated/acknowledged by the Income Tax authorities
• Utility bills such as electricity, water, and landline telephone bills

Other documents for Self-employed (Pvt Cos and Partnership Firms)

• PAN CARD of the Partnership Firm or Private Ltd Company
• Power of Attorney granted to a partner, managers, officers or an employee of the firm or a company to transact business on its behalf.
• The complete Income Tax return (not just the acknowledgment) in the name of the Partnership Firm where the firm's income is reflected, duly authenticated/acknowledged by the Income Tax Authorities.
• Proof of continuation: Trade license /Establishment /Sales Tax certificate/ SSI Registration
• Other Mandatory Documents - Sole Proprietorship declaration Or Cert. Copy of Partnership Deed (to be verified against original), Certified true copy of Memorandum & Articles of Association (Certified by Director) & Board resolution (Original)

Additional documents for Pvt Ltd. Companies

• Certified Copy of Certificate of Incorporation and an updated Memorandum and Articles of Association (certified either by Company Secretary / Director)
• Certified Copy of Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account duly signed by two directors or a company secretary
• Form 32 / DIR 12 duly filed with Registrar of Companies - Only in cases where the list of directors are not original subscribers to MOA & AOA
• Certified copy of the Form 18 / INC 22 filed with Registrar of Companies

Loan Processing Fee

2%

Cheque/ECS bounce charges
(per bounce)

Rs. 750 

Interest on Late Payment of EMI (per month on overdue EMI amount/Interest amount)

3% 

PDC/ECS Swap Charges
(per swap)

Rs. 750 

Statement of Account Charges

Rs. 500

Document Retrieval Charges

Rs. 750

Additional Repayment Schedule

Rs. 500

Loan Cancellation Charges

Rs. 1,000

Prepayment / Foreclosure

0-6 months

6-12 months

12-36 months

36 months & above

Not allowed

4%

4%

2%