9 Tips to Get the Maximum Personal Loan Amount Offer from HDFC Bank
21 April, 2025
Synopsis:
Personal Loans can be utilised for various needs be it for travel or medical emergencies.
Getting the maximum Personal Loan amount requires proper planning.
Maintaining a high credit score, showing stable income are some measures that can help secure a higher loan amount offer.
HDFC Bank offers XPRESS Personal Loans to meet various financial needs, such as medical emergencies, home renovations, or travel plans. If you’re aiming for the highest possible Personal Loan amount, there are several strategies you can adopt to improve your chances.
9 Tips To Get The Maximum XPRESS Personal Loan Amount Offer
Maintain a High Credit Score
A high credit score boosts your chances of a larger personal loan. Maintain it by paying EMIs and Credit Card bills on time, keeping credit usage under 30%, and correcting errors in your credit report.
Show Stable Income
HDFC Bank evaluates your income to determine loan eligibility. A higher, stable income boosts confidence in your repayment ability. Submit salary slips, IT returns, recent increment letters, and additional income proofs like rental or freelance earnings for better offers.
Opt for a Longer Loan Tenure
Choosing a longer loan tenure reduces your monthly EMI, making the loan appear more affordable to the bank. This can improve your eligibility for a higher amount since your EMI-to-income ratio decreases.
Leverage Existing Relationships with HDFC Bank
If you already have an account, fixed deposit, or Credit Card with HDFC Bank, use this relationship to your advantage. Long-standing customers with a good track record are often given preferential treatment, including higher loan amounts.
Apply Jointly with a Co-Applicant
Adding a co-applicant, such as your spouse or parent, can significantly boost your eligibility for a higher loan amount. The combined income of both applicants strengthens the bank’s confidence in your repayment capacity.
Minimise Existing Debt Obligations
Reduce existing debts before applying for a personal loan. Clear smaller loans, pay off credit card balances, and avoid new credit card purchases or loans to improve your eligibility and loan amount approval.
Avoid Frequent Loan Applications
Frequent loan applications can harm your credit score and signal financial instability to HDFC Bank, limiting loan amounts. Strengthen your financial profile and submit one well-prepared application to maximize approval chances.
Highlight Your Employer’s Reputation
Working for a reputed company or government job boosts your chances of a higher loan amount, as HDFC Bank views you as low-risk. Ensure accurate employer details in your application for preferential consideration.
Demonstrate a Low Expense-to-Income Ratio
HDFC Bank assesses your expense-to-income ratio to evaluate repayment ability. A lower ratio with reduced spending and clear savings in bank statements boosts credibility, improving your chances of securing a higher loan amount.
Being Better Prepared Can Help You Get Maximum Personal Loan Amount From HDFC Bank
Getting the maximum Personal Loan amount from HDFC Bank requires a mix of financial planning, documentation, and leveraging existing relationships with the bank. By following the tips outlined above, you can significantly improve your eligibility for a higher loan amount while ensuring a smooth application process.
FAQs
How to get the maximum Xpress Personal Loan amount?
To secure the maximum Personal Loan amount from HDFC Bank:
Maintain a credit score of 750 or higher.
Demonstrate stable and sufficient income.
Minimise existing debt obligations.
Opt for a longer loan tenure to improve affordability.
How do I get the maximum Xpress Personal Loan amount?
To maximise the Personal Loan amount, highlight all sources of income, including bonuses, freelance work, or rental income. Adding a co-applicant or leveraging pre-approved offers can also boost the loan amount.
How can I increase my Personal Loan amount?
You can increase your Xpress Personal Loan amount by improving your credit score, showing additional income, and reducing your Debt-to-Income ratio. If you already have a loan with HDFC Bank, consider applying for a top-up loan.
*Disclaimer: Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. Loan disbursement is at the sole discretion of HDFC Bank Limited and is subject to verification and documentation as per the bank’s requirements. Interest rates and offers may vary. Please check the official website for the changes/updates in the application procedure and other details.
