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    We found 1 HDFC Personal Loan Interest Rates
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 21.25% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    HDFC Personal Loan Interest Rates is Rated as "Great!" by 15478 Users

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    HDFC Personal Loan Interest Rates

    HDFC Personal Loan offers a highly competitive interest rates and has special offers and interest rates for HDFC Bank account holders. It also offers special loan offers for women employees. First time borrowers will be given low loan offerings. The personal loan is available on the basis of a person’s credit history like his repayment history on other loans and credit cards. The process to apply for the loan is simple and requires minimum documentation and a person can avail a personal loan for various needs.

    Perfect Personal Loan Deals for you

    HDFC Personal Loan Interest Rates 2018

    Particulars Salaried
    Interest rate 15.75% to 20% p.a.
    Loan Amount Min: Rs 50,000; Max: Rs 15 lakh.
    Loan Tenure Min.: 1 year; Max.: 5 years
    Lowest EMI Rs 2405 (Per lakh, for the maximum tenure of 5 years)
    Processing Fee Up to 2.50% of the loan amount (subject to a minimum of Rs. 1,000 & maximum of Rs. 25000)
    Age Between 21 to 60 years of age
    Prepayment Charges If loan is prepaid within 13-24 Months, prepayment charges will be 4% of principal outstanding loan amount; if prepaid within 25-36 months, 3% of principal outstanding loan amount and if paid within 36 months, 2% of the principal outstanding loan amount. No prepayment can be made before 12 EMIs are repaid.
    Foreclosure Charges NA
    Apply for Personal Loan

    How to calculate Interest/EMI on HDFC Personal Loan?

    EMI (Equated Monthly Instalment) is the payment made by a borrower to the lender each calendar month as the part payment of the loan availed by him/her. Both principal and interest can be paid off through EMIs in a specified period of time till the loan is realised in full by the lender.

    Mathematically, the EMI amount can be calculated by using the formula mentioned below:

    EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for principal (Loan amount), R stands for rate of interest per month and N stands for number of monthly instalments. If the annual rate of interest is 10%, the monthly rate of interest would be 10/(12 x 100).

    Calculating EMI through this method can be a bit complex and you may instead use the HDFC EMI Calculator available on BankBazaar.com. You may enter a few required details and immediately compute the EMI amount as well as the amount of interest you will paying on your HDFC personal Loan.

    For instance, Vandana takes a personal loan of Rs. 1 lakh from HDFC bank at 11.50% interest for a tenure of 3 years. By the end of third year, she will have to pay a total interest of Rs.18,714 on her loan divided over 36 EMIs of Rs.3,298 each. At the time of loan disbursal, she would also be required to pay the processing fee of Rs.2000 (Assumed to be 2% of the total loan amount). The total cost of loan incurred by her would be Rs.20,714. Her amortization table will look as follows.

    Year Principal Paid(A)(In Rs.) Interest Paid(B)(In Rs.) Total Payment (A+B)(In Rs.) Outstanding Loan Balance(In Rs.)
    2017 9,492 3,697 13,189 90,508
    2018 30,750 8,823 39,573 59,757
    2019 34,478 5,094 39,572 25,279
    2020 25,278 1,101 26,379 0

    The above table clearly shows the separate components of loan including the principal amount and the interest paid each year on the loan availed by Vandana. With BankBazaar’s EMI Calculator, you may easily compute the EMI, interest on loan, and the principal amount you will be paying each year through instalments.

    HDFC Bank Personal Loan – Rates of Interest and Additional Charges

    Fee Amount to be Paid (For Salaried Individuals) Amount to be Paid (For Businessmen/ Self-employed Individuals)
    Rate of interest 15.75% to 20% (Salaried) 15.50% to 18.30%
    Processing charges on loan Up to 2.5% of total loan (Minimum- Rs.1,000 and Maximum - Rs. 25000) Up to 2.5% of total loan (Minimum- Rs.1,000 and Maximum - Rs. 25000)
    Prepayment Pre-payment not permitted until 12 EMIs are repaid. Pre-payment not permitted until 6 EMIs are repaid
    Pre-payment charges For Salaried individuals: If repaid between 1.1 Years to 2 Years - 4% of outstanding principal From 2.1 years to 3 Years - 3% of outstanding principal After 3 years - 2% of outstanding principal 07 Months to 2 years - 4% of Principal Outstanding From 2.1 years to 3 years - 3% of Principal Outstanding >3 years - 2% of Principal Outstanding
    Charges for delay in EMI payment At 24% p.a on the outstanding loan amount from date of default At 24 % p.a on amount outstanding from date of default
    Stamp duty and other charges As per laws applicable by the state As per laws applicable by the state
    Cheque swapping charges Rs.500 Rs.500
    Amortization Schedule charges Rs.200 Rs.200
    Loan cancellation charges No charges (However, interest for the period between the date of loan disbursement and cancellation of loan along with the processing fees would be retained). No charges (However, interest for the period between the date of loan disbursement and cancellation of loan along with the processing fees would be retained).
    Cheque bounce charges Rs.550 for each cheque bounce Rs.550 for each cheque bounce
    Incidental/legal charges At actual At actual
    Copy Charges for CIBIL Report Rs.50 for each copy Rs.50 for each copy

    Factors affecting HDFC Personal Loan Interest Rates

    HDFC personal loan interest rate varies from person to person due to various factors. Some major factors affecting the interest rates are as follows:

    • Loan tenure: Shorter term loans may attract a higher rate of interest when compared to loans having a higher tenure.
    • Repayment capacity: HDFC Bank checks a person’s repayment capacity before offering him a loan and before deciding the interest rate. Borrower’s income, his assets and his creditworthiness is looked into before the bank offers a rate to him. CIBIL Score gives detailed information his repayment capacity as it has all the details of the previous loans he had taken and repaid and it also gives information on how he is paying off his credit card bills.
    • Borrowing class: The borrower’s age also plays a crucial role in deciding the interest rate. HDFC Bank offers personal loan to the salaried individuals only.
    • Relationship with the bank: HDFC Bank offers special offers, interest rates and charges for the existing HDFC Bank account holders. Women are offered a special loan, HDFC Bank Personal Loan Diva, this is a tailor-made loan and has more than 100 Diva offers across premium brands and products. This makes it vital for the applicant to have a very good rapport with the bank to avail special discounts and offers. You may even get a discount on the processing charges or the bank might reduce your interest rate to those who have managed to show commitment to making their payments on time in the past.

    The interest rates are charged at the sole discretion of the bank and are subject to change.

    Key things about HDFC Personal Loan Interest Rates

    Before applying for a HDFC Personal Loan, you must know the following factors:

    Fixed interest rate is when a fixed rate is set on the personal loan and you have to pay a fixed amount of interest throughout the tenure.

    Floating interest rate will change as per the change in the bank’s base lending rate.

    To avail a HDFC Personal Loan, you need not have a guarantor or provide security.

    When the repo rate goes up, your interest rate will also go up. This must be considered before choosing a floating interest rate.

    HDFC banks offer personal loans to salaried individual and they offer the interest rate based on the applicant’s credit score.

    HDFC Personal Loan interest rate FAQs

    1. What is the minimum or maximum amount of personal loan I can secure from HDFC Bank?

      You may avail a loan of Rs.50,000 to Rs.15 lakh depending on your earnings and the repayment capacity. To avail a bigger loan amount, you may also club your spouse’s earnings with yours.

    2. What will be the timeline provided to me for repaying my loan amount?

      You may avail a personal loan and repay the same in a period of 12 to 60 months depending on your credit profile.

    3. Is there a way to check my eligibility before I apply for a personal loan from HDFC?

      Yes. You may check your loan eligibility in a matter of seconds using the HDFC Personal Loan Calculator available on BankBazaar’s web portal. All you need to do is put in a few details in our online tool and your report will be immediately generated. The online tool will help you know the amount of EMI amount and interest that your loan will incur depending on the tenure of loan as selected by you.

    4. What is the documentation needed to apply for HDFC Personal Loan?

      The primary documents needed to apply for a personal loan from HDFC will include identity proof, address proof and income proof.

    5. Can I prepay my loan amount in part?

      Part prepayment is not permissible. The loan amount has to be prepaid in full or to be paid in instalments as per the contracted tenure.

    6. How can I know the EMI amount that has to be paid on my personal loan?

      Manually calculating loan EMIs can get complicated. The simplest method is to use BankBazaar’s free Loan EMI Calculator which gives you year by year and month by month breakup of the entire loan repayment schedule. It also helps you know the amount of interest you will be paying on your loan during the loan tenure.

    7. Can I apply for a personal loan through BankBazaar website? How long would the whole process take?

      Yes, you may surely apply for a personal loan through BankBazaar. We immediately process your loan application and submit it at your nearest HDFC Bank Branch. The representative from HDFC Bank then gets in touch with you to collect all relevant documents. After verification of documents and review of your CIBIL score is done, the bank disburses the loan. The whole process may take around 48-72 hours.

    8. Is it allowed to repay one’s personal loan earlier?

      Personal loan can be repaid after a minimum of 12 EMIs are paid to the bank. However, foreclosure of loan amount will incur applicable charges. It is also to be noted that cash beyond Rs.49000 is not accepted for prepayment, full payment or loan closure. All payments above Rs.49000 are to be made via Demand Draft, Account Payee Cheque, or Pay order.

    9. What is the procedure to change the address in my loan account?

      To change your residential details in HDFC records, you may visit your nearest Retail Loan Service Center and submit the below mentioned documents:

      • Address Change Request Form.
      • Self-attested proof of new address and original address proof for validation.
      • In case a representative is acting on your behalf, a letter of authorization duly signed by you is required along with your original KYC documents.
    10. What are the additional charges applicable on loan repayment?

      Additional charges are applicable in case the loan is defaulted or the mode of repayment is changed during the tenure of loan.

    11. Is my personal and financial data safe with BankBazaar?

      BankBazaar gives highest importance to data security. We don’t share any customer data with any third party government or private agency unless the party is directly involved in providing you the requested services.

    12. If I change the mode of payment for my personal loan, what will be done with my post-dated cheques?

      The security cheques or the post-dated cheques which are not encashed towards loan repayment will be defaced by the bank. You may also get them returned to you by lodging a formal request to HDFC Bank within 45 days after the mode of repayment is changed.

    13. How important is CIBIL score in determining my loan eligibility?

      CIBIL (Credit Information Bureau India Limited) serves credit granting financial institutions by providing them financial information about individuals including their creditworthiness. However, only members who submit their complete credit data may avail credit information reports from CIBIL.

    14. Does salary account with HDFC of any help for availing personal loan?

      Yes. Individuals having HDFC salary accounts get preferential interest rate and processing fee. The documentation required are minimal and the repayment can easily be made through a standing instruction to debit instalments from your account.

    15. Is there a need for a security or collateral to get a personal loan from HDFC Bank?

      No, there is no need for security, collateral deposits, or guarantee in availing HDFC personal loans.

    HDFC Personal Loan Interest Rates Reviews

    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a good experience i had in getting this loan and the process has been simple and easy. The loan amount which they had given has been sufficient and there has not been any sort of charges which they had been making. Overall it was a nice experience.
      Was this review helpful? 2
      , mumbai
      Reviewed on Nov 19, 2018
    • HDFC Bank Personal Loan
      "Best in Need"
      0.5 5.0/5 "Blown Away!"
      I was in need of Personal loan and at that moment i was cross checking banks who provide reasonable interest rates and i found HDFC giving Reasonable interest rates. Loan tenuity is 3 years and i am pretty much comfortable with their services.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 19, 2018
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my personal loan with HDFC bank, the rate of interest they have charged me was up to 16% only which was nominal and the loan amount which they have given me was less as per my expectation , and the processing fee they have charge me was up to 4000 which is nominal but i have problem with tenure period like i expected up to 5 years but i got just 3 years only.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 19, 2018
    • HDFC Bank Personal Loan
      "Need to reduce ROI"
      0.5 4.0/5 "Great!"
      It was a good experience with HDFC bank for personal loan, i received my loan amount within 10 days. The loan amount was for Rs 4 lacs with tenure period of 5 years. They said the rate of interest will be 11.2% but they charges 12.49%. Customer service was good and they responded on time.
      Was this review helpful? 0
      , guwahati
      Reviewed on Nov 19, 2018
    • HDFC Bank Personal Loan
      "Good personal loan"
      0.5 4.0/5 "Great!"
      2 years before i have taken my personal loan with HDFC. There was no delay in their process of sanctioning the loan. Still the loan is going on. Within one week i have received the loan. I have chosen the tenure period of 5 years. I pay the EMI of Rs. 18000 approximately. I pay the premium through ECS.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 18, 2018
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      The experience i had with this loan has not been that great where the interest rate with them has been high when compared with the market rate and there has been 0.5% of charges with them as well. But there has been good response from their side.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 18, 2018
    • HDFC Bank Personal Loan
      "One click to avail the personal loan"
      0.5 5.0/5 "Blown Away!"
      Six months back, there were special interest rate for the accenture employee. They have provided the interest rate of 10.99%. Every amount will be informed to the customer when i applying for the loan itself. There is no documentation is required since my salary has been credited in HDFC. I have taken the loan amount of Rs. 1.5 lakhs. I'm not sure about the pre-closure and partial payments.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 18, 2018
    • HDFC Bank Personal Loan
      "One click to avail the personal loan"
      0.5 5.0/5 "Blown Away!"
      Its all pre-approved loan. I got with the personal loan within 10 seconds. I can able to withdraw the amount from the ATM. They have provided the interest rate of 11.5% which is bit higher compared to others. I have applied the loan amount of Rs. 80000 with the tenure period of 2 years. I have been paying the EMI of Rs. 3500.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 18, 2018
    • HDFC Bank Personal Loan
      "Processing charges should be reduced"
      0.5 5.0/5 "Blown Away!"
      I took loan personal loan from HDFC Bank now I have settled the loan. The bank gave me the interest rate around 11% and with Rs. 1500 of high processing fee. Finally I paid all my EMI for the entire tenure period and I got the NOC letter from bank without any issue.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 17, 2018
    • HDFC Bank Personal Loan
      "Quite Good"
      0.5 5.0/5 "Blown Away!"
      According to my elegibility criteria, they have provided the loan with HDFC. I have applied the loan amount of Rs. 8.4 lakhs however they have provided only Rs. 7.63 lakhs. The interest rate charged was 15.75% which i'm okay for me. Processing fee they have charged was 1%. I don't find any difficulty and the documentation process was quite simple.
      Was this review helpful? 0
      , goa
      Reviewed on Nov 17, 2018
    • HDFC Bank Personal Loan
      "Best In Need"
      0.5 5.0/5 "Blown Away!"
      There was aN immediate response at the time when i have submitted my application for personal loan. I was in a need of money and as i hold a salary account with HDFC i applied with them . It got processed in 10 minutes and There was a less documentation work.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 17, 2018
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am satisfied with the HDFC service and they have disbursed the loan on the committed time. The rate of interest was normal and they are doing processing charge of 3% which can be 2%. The loan duration is 2 years. The documents are submitted online and also executive came for verification.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 17, 2018
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It was a good experience i had with this loan where the process in getting this loan has been easy. It has been an insta loan and the loan amount which they had provided has been satisfactory as well. The interest rate with them has been satisfactory and there has not been any sort of additional charges which they had been making so far.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 17, 2018
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have been using personal loan with HDFC bank , it have been just six months only i have been applied for personal loan and there rate of interest and processing fee is nominal which they have charge me and even loan amount was sufficient to me .
      Was this review helpful? 3
      , kolkata
      Reviewed on Nov 16, 2018
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      My experience is good by taking the personal loan with the HDFC BANK and i have been taken this loan from past 3 years, and they have charge nominal rate of interest up to 17% and even there processing fee is also nominal only, i have taken my loan amount up to 75,000 it is sufficient for me and there customer support team is good.
      Was this review helpful? 3
      , new delhi
      Reviewed on Nov 16, 2018
    • HDFC Bank Personal Loan
      "Very good service"
      0.5 4.5/5 "Excellent!"
      My personal loan application was approved with HDFC bank and the experience was good, the process took 1 week to complete and the response from the customer support was very good. The loan amount was for Rs 2 lacs with nominal interest rate and the tenure period was 3 years.
      Was this review helpful? 3
      , raikot
      Reviewed on Nov 16, 2018
    • HDFC Bank Personal Loan
      "Need to improve the services"
      0.5 4.5/5 "Excellent!"
      In compared to other banks, the process is very simple and easy in HDFC. The interest rates are little bit high and they have given me a interest rate of 16% last year. I have purchased this loan by last year however the processing time was good. I took the loan amount of Rs. 2.80 lakhs. I pay the EMI of Rs. 7800 for the tenure period of 4 years.
      Was this review helpful? 0
      , vellore
      Reviewed on Nov 16, 2018
    • HDFC Bank Personal Loan
      "Good loan experience"
      0.5 4.0/5 "Great!"
      Loan received on time from HDFC bank. According my eligibility they have said its 2.3 lakhs however they have provided only 1.6 lakhs. They have charged me a interest rate 21% and i have no idea about the processing fee. I am paying the EMI of Rs. 6800 and i have chosen the tenure period of 36 months. The amount will be auto debited from my account.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 16, 2018
    • HDFC Bank Personal Loan
      "Good loan experience"
      0.5 4.0/5 "Great!"
      Loan received on time from HDFC bank. According my eligibility they have said its 2.3 lakhs however they have provided only 1.6 lakhs. They have charged me a interest rate 21% and i have no idea about the processing fee. I am paying the EMI of Rs. 6800 and i have chosen the tenure period of 36 months. The amount will be auto debited from my account.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 16, 2018
    • HDFC Bank Personal Loan
      "GOOD SERVICE"
      0.5 3.5/5 "Pretty good"
      The reason for taking the personal loan with the HDFC BANK is i am a existing customer of HDFC BANK. The loan amount is sufficient also the rate of interest is higher than the others. The process is simple to get the loan but it got delayed little.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 16, 2018
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