Multiple banks. Different interest rates. Call it a "conflict of interest".
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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% - 19.8% Fixed
    Up to 2% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews

    HDFC Personal Loan Interest Rates is Rated as "Great!" by 12729 Users

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    Promised Interest Rate

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    Personal Loan BYTES FROM OUR KITCHEN

    About HDFC Personal Loan

    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

    HDFC personal loan interest rates depends up on the various factors such as income, borrowers credit history, the RBI rates, inflation etc. HDFC personal loan interest rate for the year 2015 varies from 15.75 percent to 20 percent. These rates are applicable for salaried individual. The interest rates and loan is offered to a borrower in such a way that it does not financially burden the borrower.

    HDFC Personal Loan Interest Rates 2017

    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 or Equated Monthly Instalment is the amount payable every month to the bank until the loan amount is fully paid off. The EMI amount consists of interest as well as the principal amount to be repaid. The principal amount and interest is divided by the tenure in which the loan has to be repaid. This amount has to be paid monthly.

    EMI= Principal X Rate of interest on a monthly basis X (1+rate of interest on a monthly basis) to the power of the loan tenure divided by [(1+rate of interest on a monthly basis) to the power of the loan tenure – 1]

    To make the EMI calculation easy, you can make use of the EMI calculator available on BankBazaar.com. On filling up the required fields on the EMI calculator you will get the result along with the amortization table that offers you a complete and systematic breakdown of the EMI amount. It will mention how much of the EMI amount is going towards covering the principal amount and how much of it covers the interest amount.

    For example, Mr.Mohan has taken a personal loan for Rs.1 lakh from HDFC Bank. The interest rate he is being offered is 15.75 percent for a tenure of 5 years. By the end of the fifth year, he would have paid Rs.45,113 towards total interest and his loan EMI is Rs.2,419. He will be paying 31.1 percent towards the interest and 68.9 percent towards the principal loan amount. His amortization table will look as follows:

    YearPrincipal paid (in rupees)Interest paid (in rupees)Balance amount (in rupees)
    Year 114,27414,27485,726
    Year 216,69212,33169,035
    Year 319,5199,50449,516
    Year 422,8256,19826,691
    Year 526,6912,3310

    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.

    How CIBIL score affects HDFC Personal Loan Interest Rates?

    CIBIL Score also plays a major role in deciding your interest rate. CIBIL report consists of your repayment history and also shows how efficiently you have made the payments and if you have missed making any payments. The ideal score that is accepted by the bank is 750 and above. Those having a lower score will be termed as risky and the bank might offer you a personal loan at a higher interest rate. So, before applying for a loan, make sure that you check your CIBIL score and if your score is low, fix it and then apply for the loan.

    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.
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  • HDFC Personal Loan Interest Rates Reviews

    • HDFC Bank Personal Loan
      "SATISFACTORY"
      0.5 3.0/5 "Satisfactory"
      I didn't avail HDFC personal loan, because when I was in need of loan that time they have not offered me anything, they where like you have to bring this document all etc, even though I have told them I don't have address proof here because I am from Gujarat, later they said they can process the loan but it will take 1 to 2 months, so I have dropped the plan of taking it.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jul 26, 2017
    • HDFC Bank Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      HDFC Is very fast, they are too good in understanding the customer. More over they are helpful and customer friendly. The best part, I like their service when I applied for the personal loan they done fast process and fulfilled my needs. I have applied through net banking the very next moment executive came and collected all the documents and the loan got approved with in a span of 5 minutes of time.
      Was this review helpful? 0
      , dausa
      Reviewed on Jul 26, 2017
    • HDFC Bank Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I applied for personal loan with HDFC bank and the loan amount was 2.50 lakhs bu they did not approve the loan and they never share the reason also, I would suggest HDFC bank to share the reason behind so that next time can make sure that nothing goes wrong.
      Was this review helpful? 0
      , dausa
      Reviewed on Jul 26, 2017
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      Basically I have got a text message from HDFC bank to get the personal loan with 11.99 % interest rate, but later when I approached them they have increased the rate of interest upto 12.99% , in case if we need a higher loan amount. The customer service and the response is very much average with HDFC bank. The Hdfc bank need to stick on to their promises.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • HDFC Bank Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      I have got the personal loan from the HDFC bank and the interest rate was around 16%. The customer service was not that great as there was a bit of delay and the response is not so good. Customer service is an average one with them till now. Processing charges were around 1700 Rupees on my personal loan application.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 24, 2017
    • HDFC Bank Personal Loan
      "Better Service"
      0.5 3.0/5 "Satisfactory"
      Actually I was looking for the personal loan so I applied with HDFC bank but I do not need the loan for time being so I just closed the loan application. The response and the customer service is ok and I had no issues with the bank while applying for the loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 24, 2017
    • HDFC Bank Personal Loan
      "Quick response"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank had done a great job for the personal loan application. It is just that I felt it was not necessary to go ahead at that moment and therefore I had cancelled the deal. The services and response was good and the overall experience was on time and smooth. The deal on the interest rate and charges were also pretty normal too.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jul 24, 2017
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Recently I availed personal loan from HDFC bank. They provided a good service for my loan application. The bank quoted good interest rate and I had no issues with the bank at any point of time during the loan process. The customer service is also good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 24, 2017
    • HDFC Bank Personal Loan
      "Fast process"
      0.5 4.0/5 "Great!"
      After me applying at HDFC Bank for the personal loan. I got the funds within three days. The process has been perfect and super fast.The customer services are also good and the overall experience is satisfactory. I got a better deal on the rate of interest and processing charges as my company is a listed one.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 24, 2017
    • HDFC Bank Personal Loan
      "Great support"
      0.5 5.0/5 "Blown Away!"
      HDFC bank provided the great support when I approached them for the personal loan. They done the loan process in a good manner and their customer service is really good. They promptly assisted me and there was no delay during the loan process. Moreover interest rate is good.
      Was this review helpful? 0
      , agra
      Reviewed on Jul 24, 2017
    • HDFC Bank Personal Loan
      "Hidden charges are there"
      0.5 2.5/5 "Just OK"
      For the personal loan, HDFC bank quoted 10.99% of interest rate so I applied for the loan with them. But they charged more for EMI conversions like ECS, insurance and other hidden charges as well. Also they did not sanction the promised loan amount.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 24, 2017
    • HDFC Bank Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank has offered me a personal loan as well. The process was smooth and easy. The paper work was minimal and overall I had no issues. I got the loan amount I was needing and the interest rate and processing charges was normal and the ECS deductions was smooth as well after the loan was disbursed.
      Was this review helpful? 0
      , indore
      Reviewed on Jul 23, 2017
    • HDFC Bank Personal Loan
      "Professional services"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank was very professional in the personal loan process. The bank contacted me on time and informed me the details and they also collected the paper works on time. I had no issues in getting my loan through with them. Just that the interest rate was a bit higher, it was around 15%. I am happy that the bank values me as a customer.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 23, 2017
    • HDFC Bank Personal Loan
      "Not happy with the services"
      0.5 2.0/5 "Expected more"
      I did not take the personal loan from HDFC Bank because I got a better rate of interest from another bank. More over the bank did not contact me as well. There was a complete zero response. They did not call me to even check what my requirement was about.
      Was this review helpful? 0
      , agartala
      Reviewed on Jul 23, 2017
    • HDFC Bank Personal Loan
      "Useless bank"
      0.5 0.5/5 "Unacceptable"
      Dont apply personal loan with HDFC. 1st they will call you telling, Sir you have a HDFC salary account so you are eligible PL for 3 lakhs, when i applied they said sir your personal loan is rejected as it did not met internal policies. My Cibil was 765 No other loans PAN CARD AADHAR is upto the mark Salary is 36K take home Address proof also is Authentic. Then why, they only say did not met internal criteria, if did not met that, why the hell you call at all asking us to take a loan with you(HDFC). Opt for ICICI or Axis guys don't use HDFC. Regards
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 21, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The HDFC bank service is really good in concern to my personal loan. The customer service and the response was good with HDFC bank. The rate of interest is nominal with HDFC bank. I have choose the HDFC bank for my personal loan because of their low interest rate.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 19, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      HDFC bank just took 2 days of time to disburse my personal loan. The customer service and the response is really good with HDFC bank. The only problem with HDFC bank is I need to pay back the loan EMI only through Cheque. The required loan amount has been approved and given . The rate of interest is nominal with HDFC bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 19, 2017
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      I didn't choose HDFC bank for the personal loan because of the interest rate and charges. The customer service and the response is good with HDFC bank. The rate of interest need to be reduced in future. The service rendered by HDFC Bank is very much average.
      Was this review helpful? 0
      , sonepat
      Reviewed on Jul 18, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have got a call from HDFC bank executive they have explained me about the product, they have promised me that they will give a call back but no one turned up in concern to my personal loan application. The service need to be quick and fast with bank . The rate of interest is nominal with HDFC bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 18, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      On a general note , I am happy with the service offered by HDFC. They gave response within 3 days of time. The customer service and the response was good with HDFC bank. I got to know about HDFC personal loan through a middlemen who supported me to get the loan. The rate of interest and the charges are better than ICICI bank. I would say HDFC bank gives very good service to their existing customers.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 18, 2017
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