Personal Loan - Apply for Instant Personal Loans Online up to Rs.40 Lakh | HDFC Bank (2024)

FAQs

Which bank gives the fastest personal loan? ›

Best for excellent credit: LightStream

‌LightStream offers unsecured personal loans of up to $100,000, with low rates for borrowers with excellent credit. It's one of the fastest overall in terms of loan funding speed, with borrowers able to obtain funds as quickly as the same day they're approved.

Loans - Get Instant Loan Online at Lowest Interest Rates

HDFC Bank helps you achieve a variety of goals with a wide range of loan products. Attractive interest rates, flexible tenures and repayment options, minimal documentation and quick disbursals are some of the features of HDFC Bank loans.

Get a personal loan in quick time

Get funds in 10 seconds if you are a pre-approved HDFC Bank customer. Other customers can get a loan within 4 working days subject to documentation and verification as per bank's requirement.

What is the easiest loan to get approved for? The easiest types of loans to get approved for don't require a credit check and include payday loans, car title loans and pawnshop loans — but they're also highly predatory due to outrageously high interest rates and fees.

If you struggle to get approved for a personal loan or need a loan in a hurry, products like emergency loan and payday loans may be appealing. All may come with higher interest rates and shorter repayment timelines than a standard personal loan.

The best online personal loan providers are LightStream, SoFi, PenFed, Discover, Upstart, U.S. Bank and Upgrade. Technology has automated the online personal loan application process – meaning in many cases, you can be approved and funded within the same business day.

10 lakh Personal Loan, you must meet specific criteria: Age: Generally, applicants should be between 20 and 58 years of age. Employment: Salaried individuals, self-employed professionals and business owners are eligible. Income: A steady income but the minimum amount may vary across lenders.

Ghost loans are the ones that are fake loans documented in the loan books and exist only on paper. The challenges of ghost loans can crash an individual's credit report and erupt into the public domain when people realise that their credit scores have dropped.

What is a hardship loan? ›

Hardship personal loans are a type of personal loan that is designed to help you overcome financial difficulties. This type of loan is generally offered by small banks and credit unions, and has lower interest rates, lower maximum loan amounts, and shorter repayment periods than standard personal loans.

To increase your chance of qualifying for a $10,000 unsecured loan, you should have a credit score of 600 or higher. Some lenders start their minimum credit score requirements at 600, however, there are some lenders that require a credit score in the high 600s or low 700s.

HDFC Bank customers can get Personal Loans with minimal or no documentation. In fact, if they are pre- approved for a Personal Loan, they can easily apply for it.

The standard lead time is around 7 working days from the date complete required documents are submitted. All applications are subject to evaluation and final approval of BDO.

It typically takes anywhere from a few hours to a few weeks to get a personal loan, depending on various factors including the lender's processing time and the applicant's preparedness.

Payment history is weighed the most heavily in determining your credit score, along with your total outstanding debt. Generally, borrowers need a credit score of at least 610 to 640 to even qualify for a personal loan. To qualify for a lender's lowest interest rate, borrowers typically need a score of at least 800.

Borrowers with multiple credit cards, a mortgage, or an auto loan showing regular on-time payments may be more likely to qualify. Debt-to-income ratio: Lenders seek borrowers who make enough money to meet their current monthly financial obligations, plus loan payments.