HDFC Bank has launched a paperless instant loan plan for its existing customers, which will help customers in getting funds from personal loans in just 10 seconds.

The quick disbursal of funds will be of great help to customers particularly in emergencies. The process of availing of loans is completely paperless. The 10-second loan scheme is an offering under HDFC Bank’s digital banking platform GoDigital.

Let us figure out what is a personal loan and a pre-approved loan?

A personal loan is an unsecured loan that can be availed from any financial institution. There is no need to pledge any collateral or security.

However, a faster method to be eligible for quick funding without any additional document submissions is known as a pre-approved loan. It is offered to the existing customers of the bank maintaining a clean track record of repayment of dues and EMIs of existing loans.

Significant Features of a pre-approved personal loan from HDFC in 10 seconds

  • No paperwork
  • Affordable interest rates
  • Immediate processing
  • Flexibility in the usage of funds
  • Time saver in loan disbursements
  • Flexible repayment tenure
  • Loan amount availability of up to Rs 15 lakh
  • Low processing fee 
  • No hidden charges
  • Nil prepayment charges

Benefits of pre-approved personal loan offer

  • Paperless process – When one has the pre-approved personal loan offer, an applicant just needs to accept it online without making an extra effort of visiting bank branches or doing the complete application process online.All one needs to do is contact the customer care executive and request funds for the funds to be transferred to the account. One can log in to the bank account and also request the pre-approved loan there.
  • Nil Documentation - Since a pre-approved personal loan is for an existing customer, no additional documentation is required and is hassle-free.
  • Instant funds – The approval time for the pre-approved loan is minimal as the bank offers this loan to customers with a proven clean track record. Once the borrower applies for the loan, the funds are disbursed quickly.
  • Flexible repayment – The tenure of repayment of the loan is flexible. An applicant can apply for the loan for tenure ranging from 12 months to 60 months.
  • Affordable interest rates – Pre-approved loans come with a lower rate of interest. Since it is offered to customers having a bank account and proven track record and also the ability to repay the loan in time, the interest rates are lower.
  • The Flexibility of usage – The funds availed through personal loans can be utilized for any purpose. There is no restriction of usage.

Who is eligible for a pre-approved personal loan in 10 seconds?

An individual who is a long-standing customer with an excellent existing balance, excellent credit history and track record of financial discipline, may be eligible for personal loans.

Analysis of the existing customers of their financial standing and credibility is carried out to check the track record of clearing old dues and repayment of existing loans. If the track record is proven to be clear, one becomes eligible for a pre-approved personal loan. 

How to apply for a pre-approved HDFC personal loan in 10 seconds?

Applying for pre-approved personal loans is super simple which involves basic filling and OTP authentication. It takes no longer than 2-3 minutes and the funds are transferred in to the linked savings account.

Steps to apply for HDFC personal loan are listed below:

  • Login to HDFC net banking
  • Go to offers tab and click to see the offers
  • Search for the Offers tab
  • Click on the button “Get it now”
  • The funds will be credited to the linked bank account without any documentation or verification.


Q1What are the factors to consider to apply for pre-approved personal loan?
It is important to compare the available features and interest rates. Also, look out for the zero processing fees.
Q2How can one check the eligibility for the pre-approved offer?
An HDFC customer can log in to the NetBanking account and check the eligibility for a pre-approved offer.
Q3What is the process for a pre-approved personal loan approval?
Pre-approved personal loan needs minimal documentation with the least processing time. As it is usually offered to pre-approved customers, one can log in to their netbanking and get the funds in their bank account.
Q4What is a pre-approved loan?
A pre-approved loan is a sort of personal loan available to individuals with a clear record of credit history and repayment. Banks mostly include pre-approved personal loan deals with a decent credit score and balance in their accounts to current borrowers. The interest rate for pre-approved loans is lower than that of personal loans and can be used in less time.
Q5For a personal loan, how do I get pre-approved?
You must have a strong credit history and repay the current loans on time to get a pre-approved personal loan. Also, to obtain the pre-approved loan offers from the bank, you need to maintain a good debt-income ratio as defined by the banks. To know if you are eligible for the loan, you should review your account with the current bank. You may request the necessary information and documentation to get a loan after reviewing the pre-approved loan offers.
Q6Can you be refused a loan after pre-approval?
If a pre-approved loan offer has been issued, it means you have already passed the initial qualification stage. Your loan application may, however, be denied if the documents are not checked successfully after the application form has been filed.
Q7Will a loan guarantee pre-approval?
No, pre-approval does not guarantee a loan and if your application is declined by submitting inaccurate details in your application or providing the wrong documentation, you will be denied a loan after pre-approval.
Q8How will I figure out if I have been pre-approved for a loan?
By logging into the net banking account of your current bank, you can check the pre-approved loan offers. You can also contact the bank if you have a decent credit score and repayment track record to know about the pre-approved loan deals.