Salary Plus

Why Choose Us?

Convenient

No EMI

Flexible Tenure

What’s in store for you

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Salary Plus

Interest Rate for Salary Plus

Starting from 10.85 %* p.a.

(Terms & Conditions Apply*)

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Key Features of Salary Plus Loan

Features and Benefits

Credit-line amount 

  • Get up to three times your salary. 
  • Enjoy an overdraft of ₹25,000 to ₹1.25 lakh.  

Tenure

  • The facility is extended for a period of one year (12 months). 
  • The limit can be renewed post 12 months subject to meeting the bank policy and appraisal norms. 
  • The renewal fee (charged at the time of renewal after 12 months) is ₹250 plus government levies and taxes.  

Repayment

  • Pay interest only on the amount you use, and for the duration you use it. 
  • This is a non-EMI product, and you have to service only the interest every month.  

Foreclosure

  • Foreclosure possible at any time without any penalty or charges
Features and Benefits

Fees & Charges

Government taxes and other levies as applicable will be charged over and above the Fee and Charges. Limit Sanction and Renewal at the sole discretion of HDFC Bank Ltd.

Fee Amount To be Paid
Interest Rate on Utilisation 15% to18% p.a.
Limit Processing Charges Upto Rs 1999/-
Annual Renewal Charges: NIL
Stamp Duty & Other Statutory Charges As per the state law
Legal/Incidental Charges At actuals
Underutilization charges NIL
Pre-Payment Charges NIL
Annual maintenance charges NIL
Interest rate of 24% p.a. will be levied on the amount utilized above the Operating Limit of overdraft facility  
Overdraft Limit Cancellation Overdraft limit cancellation is allowed within
cooling off/look-up period of 3 days from the
overdraft limit set/ disbursed date. In the event
of overdraft limit cancellation, interest will be
borne by the customer on the withdrawn / utilized
limit. Processing Fee, Stamp duty ,
other statutory charges and GST are
non-refundable charges and would not
be waived/refunded in case of limit cancellation.
Fees & Charges

Most Important Terms and Conditions

  • *The Most Important Terms and Conditions for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.
Most Important Terms and Conditions

Documents to get you started

Age Proof

  • Signature Proof
  • Identity Proof
  • Residence Proof

Income Documents

  • Latest 2 Salary Slips.
  • Latest 6 months' bank statement
  • Last 2 years' ITR for self employed
  • Last 2 years' audited balance sheet
  • Last 6 months' bank statement

Address Proof

  • Passport
  • Driving Licence
  • Aadhaar Card
  • Voter's ID Card

More about Salary Plus

Overdraft Against Salary comes with unique features like the ability to avail up to three times salary or an overdraft facility ranging from ₹25,000 to ₹1.25 lakh. Speedy disbursal and easy application process, are other advantages of availing an Overdraft Against Salary from HDFC Bank.

HDFC Bank's Salary Plus Loan offers several benefits, including competitive interest rates, flexible repayment options, and quick disbursal. Tailored for salaried individuals, it provides higher loan amounts based on your salary, making it easier to meet your financial needs. Enjoy personalised customer service and streamlined documentation for a hassle-free experience.

To apply for an Overdraft Against Salary, you can log in to HDFC Bank NetBanking portal. One can also call the PhoneBanking assistance facility or visit the nearest branch of HDFC Bank.

Check Offer

OR

Follow these simple steps by logging into NetBanking: 
Log in to HDFC Bank Net-Banking portal 
Click on the ‘Offers’ tab; Click on your pre-approved Salary Plus offer banner. 
Accept ‘Terms & Conditions’ to activate the facility 
The credit line will be set up in 10 seconds   
*Note: The eligibility & the value of the limit is based on the customer’s credit history.

Frequently Asked Questions

Never fret over unexpected medical bills or trim down your expenses due to insufficient funds. With Overdraft on Salary, you can access an overdraft of up to ₹1.25 lakhs and pay interest solely on the amount utilised and the duration of its use. For instance, utilising ₹1 lakh incurs an interest of just ₹41.09 per day. This feature is simple to activate, demands no paperwork, and ensures instant funds in your account within seconds.

Access an Overdraft of up to ₹1.25 lakhs and pay interest solely on the utilised amount and its duration. Activating this facility is hassle-free, requires no documentation, and ensures swift funds deposited into your account within seconds.

Loans are generally more appropriate for long-term financial needs, with repayment periods spanning from 5 years to 20 years or beyond. Conversely, Overdrafts serve as short-term credit solutions, ideal for addressing immediate fund requirements.

The eligibility & the value of the limit is based on the customer’s credit history.