HDB OnTheGo Personal Loan : Up to ₹20 Lakhs – A Comprehensive Guide
HDB OnTheGo Personal Loan: HDB OnTheGo is a digital lending platform by HDB Financial Services, offering quick and hassle-free personal loans to eligible individuals. Whether you need funds for medical emergencies, home renovation, wedding expenses, travel, or debt consolidation, HDB OnTheGo provides an easy-to-access loan solution with competitive interest rates and flexible repayment options.
Table of Contents
In this detailed guide, we will explore everything about HDB OnTheGo Personal Loan, including eligibility, application process, interest rates, features, benefits, repayment terms, and essential considerations before applying.
Key Features of HDB OnTheGo Personal Loan
HDB OnTheGo is designed to meet various financial needs with a seamless digital experience. Below are some of its major features:
- Instant Loan Approval – Get quick approval and fast disbursal.
- Loan Amount – Borrow up to ₹20 Lakhs, based on eligibility.
- Flexible Tenure – Choose repayment terms from 12 to 60 months.
- Competitive Interest Rates – Starting from 10.99% per annum.
- 100% Digital Process – Apply online with minimal paperwork.
- No Collateral Required – Unsecured personal loan with no need for assets.
Eligibility Criteria for HDB OnTheGo Personal Loan
To qualify for an HDB OnTheGo Personal Loan, applicants must meet the following eligibility requirements:
- Age Requirement: Between 21 and 60 years.
- Employment Type: Salaried employees of public/private sector companies and self-employed individuals.
- Minimum Income: ₹15,000 per month for salaried individuals.
- Work Experience: At least 1 year of continuous employment for salaried applicants.
- Credit Score: A CIBIL score of 700 or above increases approval chances.
Also Read: PSB Loans in 59 Minutes: A Fast-Track Solution for Personal Loans
Documents Required for HDB OnTheGo Personal Loan
To apply successfully, you need to submit the following documents:
For Salaried Individuals:
- Identity Proof – Aadhaar Card, Passport, Voter ID, or PAN Card.
- Address Proof – Utility bill, rental agreement, Aadhaar, or passport.
- Income Proof – Last 3 months’ salary slips & 6 months’ bank statements.
- Employment Proof – Offer letter or employment certificate from the current employer.
For Self-Employed Individuals:
- Identity & Address Proof – Aadhaar Card, PAN Card, or Passport.
- Business Proof – GST certificate, Shop Act license, or business registration.
- Financial Proof – Income Tax Returns (ITR) for the last 2 years and bank statements for the last 6 months.
How to Apply for HDB OnTheGo Personal Loan?
Applying for a loan through HDB OnTheGo is simple and can be done in a few steps:
- Visit the Official Website or Download the App – Access HDB OnTheGo portal for loan applications.
- Fill Out the Online Application Form – Provide personal, professional, and financial details.
- Upload Required Documents – Submit digital copies of KYC, income proof, and bank statements.
- Loan Approval & Verification – HDB Financial Services reviews your application and documents.
- Receive Loan Disbursement – If approved, funds are credited to your bank account within 24-48 hours.
Interest Rates and Charges
The interest rates and charges for HDB OnTheGo Personal Loan may vary based on applicant profile, credit score, and loan amount. Below are the standard details:
| Loan Component | Details |
|---|---|
| Interest Rate | 10.99% – 24% per annum |
| Loan Processing Fee | Up to 2.5% of the loan amount |
| Prepayment Charges | Up to 4% on outstanding amount |
| Late Payment Fee | 2% per month on overdue EMI |
| Loan Tenure | 12 to 60 months |
Benefits of Choosing HDB OnTheGo Personal Loan
- Fast Disbursal – Get funds in 24-48 hours post-approval.
- Minimal Paperwork – Complete the process online without physical documentation.
- Flexible Repayment – Choose tenure up to 5 years for easy EMIs.
- No Hidden Costs – Transparent loan processing with clearly defined charges.
- High Loan Amount – Borrow up to ₹20 Lakhs for big-ticket expenses.
Things to Consider Before Applying
- Check Your Credit Score: A higher CIBIL score improves approval chances and lowers interest rates.
- Assess Repayment Capability: Use an EMI calculator to determine affordable monthly payments.
- Compare Loan Offers: Evaluate interest rates and charges with other financial institutions.
- Understand Prepayment Terms: Some loans may have foreclosure charges, so check before applying.
Conclusion
HDB OnTheGo Personal Loan is an excellent choice for individuals seeking quick and hassle-free loans. With its digital application process, competitive interest rates, and flexible repayment options, it caters to both salaried and self-employed borrowers.
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However, it is crucial to review the terms, ensure repayment feasibility, and compare other lenders before making a decision. If you need funds for medical emergencies, travel, education, or home renovation, HDB OnTheGo can be a great financial companion.
Disclaimer
The information provided in this article is for informational purposes only and should not be considered financial advice. Loan approvals, interest rates, and eligibility criteria are subject to HDB Financial Services’ internal policies and RBI regulations. Please visit the official website of HDB Financial Services or contact their customer support for the most accurate and updated details before applying.
