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

FAQs

Which bank gives a loan easily? ›

HDFC Bank offers pre-approved loans to customers in 10 seconds flat*. Non – HDFC Bank customers can get loans in 4 hours. If you've wondered how to get an instant loan, wonder no more.

The easiest banks to get a personal loan from are USAA and Wells Fargo. USAA does not disclose a minimum credit score requirement, but their website indicates they consider people with scores below 640, so even people with bad credit may be able to qualify.

How fast can I get my personal loan? If you accept your loan before 5 p.m. ET Monday - Friday, your funds will be transferred the next business day. If you accept the online loan after that time period, the funds will be transferred the following business day.

You can opt for a Personal Loan of anywhere between Rs 50,000 to Rs 40 lakh, subject to HDFC Bank's terms and conditions. *Terms and conditions apply. Personal Loan at the sole discretion of HDFC Bank limited.

Traditional payday loans, offered online and by storefront lenders, can also provide money quickly, but they typically have such high interest rates that they're outlawed in some states. Many banks and credit unions now offer similar loans but with more reasonable interest rates, called Payday Alternative Loans (PALs).

Some of the easiest loans to get approved for if you have bad credit include payday loans, no-credit-check loans, and pawnshop loans. Before you apply for an emergency loan to obtain funds quickly, make sure you read the fine print so you know exactly what your costs will be.

Getting a personal loan with a co-signer that has a strong credit score and a solid income can boost your application. Your co-signer – ideally, a family member or close friend – will apply alongside you, and you'll both be responsible for repayment of the loan.

What is a hardship loan? ›

Hardship personal loans are a type of personal loan intended to help borrowers overcome financial difficulties such as job loss, medical emergencies, or home repairs. Hardship personal loan programs are often offered by small banks and credit unions.

Questions about personal loans††

It's possible to get a loan and have the funds in hand the same day you apply — under certain circ*mstances. Some online lenders offer same-day loans, and you may even be able check your rates without impacting your credit scores by applying for prequalification.

The eligibility parameters for a personal loan of ₹10 Lakh are as follows: ⦁ Nature of Employment: Salaried individuals working in MNCs, public limited companies, or private limited companies are eligible. ⦁ Age: Applicants should fall within the age bracket of 21 to 60 years.

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.

Personal Loan Maximums

Most lenders state that their maximum personal loan amount is $50,000, though some will go as high as $100,000. Some borrowers, usually wealthy and with high credit scores, might be able to borrow more.

To qualify for a personal loan, borrowers generally need a minimum credit score of at least 580 — though certain lenders have even lower requirements than that. However, your chances of getting a low interest personal loan rate are much higher if you have a “very good” or “excellent” credit score of 740 and above.

Some lenders cater to applicants with lower credit scores in the poor range (below 580) to help them borrow money for emergency expenses, medical bills, debt consolidation and other financing needs.