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 12811 Users

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    Promised Interest Rate

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    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.

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    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
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The HDFC bank executives has disbursed my personal loan within 24 hours. I have applied the personal loan through HDFC net banking, The executive came and collected the documents.they have disbursed the loan within 24 hours of time. The required loan amount has been given and I am satisfied with it. The rate of interest is high with HDFC personal loan.
      Was this review helpful? 0
      , srinagar
      Reviewed on Aug 14, 2017
    • HDFC Bank Personal Loan
      "High interest rate"
      0.5 3.0/5 "Satisfactory"
      I was looking for balance transfer from HDFC to other banks. The actual reason for I transferred my personal loan to other bank is because of the high interest rate. HDFC bank quoted 16% of interest rte which is high for the personal loan, so I done balance transfer.
      Was this review helpful? 0
      , rajahmundry
      Reviewed on Aug 14, 2017
    • HDFC Bank Personal Loan
      "Hassles Free"
      0.5 4.0/5 "Great!"
      I could say it is quite hassles free service because I do not have anything to say that the bank is not good for the loan process. Because I had received a good response, no challenges during the process, interest rate & customer service is good, so everything is good with HDFC bank for the personal loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 14, 2017
    • HDFC Bank Personal Loan
      "Very simple documentation part"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank personal loan process went very smoothly, I already hold an account with HDFC and it was very easy for me to avail the loan. However there was no pref entail rate offered by them. On the contrary there were not in need of many documents.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 14, 2017
    • HDFC Bank Personal Loan
      "It was good"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience with HDFC bank was really good expect for the prepayment options. As of now there are no options, to prepay the loan before one year with HDFC bank which I dislike the most also I am not sure how other bank works too.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 14, 2017
    • HDFC Bank Personal Loan
      "Good but Delayed Service "
      0.5 3.0/5 "Satisfactory"
      Time management is very important for everyone especially when it comes to banking services. I recently approached HDFC bank for the personal loan requirement. Everything went good with the bank but they did not done with the process on time. They were delayed for two to three days. Actually I called the bank for document collection but they did not pick up the call for three days. So the entire process got delayed for three days.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 14, 2017
    • HDFC Bank Personal Loan
      " Everything was good no time delay"
      0.5 5.0/5 "Blown Away!"
      With HDFC, I am actually holding a salary account it is very easy reach out to them, they are fast, rate of interest offered was per the market standard . I was in need of funds urgently at that time when I required it they offered as per my expectation and nothing much. They took around 3 days of time to disburse the amount. Everything was good and there was no time delay too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 14, 2017
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 2.0/5 "Expected more"
      The HDFC bank executive didn't attend my call in concern to my personal loan application. They haven't come to collect my required documents on time, so that was the reason I haven't processed with HDFC bank personal loan. It would be great if HDFC bank executives collects the document on assigned date and time. The rate of interest is high with HDFC bank when compared with ICICI bank.
      Was this review helpful? 0
      , varanasi
      Reviewed on Aug 14, 2017
    • HDFC Bank Personal Loan
      "Be Responsive"
      0.5 3.5/5 "Pretty good"
      In the beginning I had received good response from HDFC bank for the personal loan. But later on I did not receive proper response for the further process like document collection and everything. I am quite disappointed because the bank had closed the application but they did not provide the proper explanation for that.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 14, 2017
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank has offered me a personal loan and the overall experience was great at that moment. They were quick in the response and the process was also very quick. I got a good deal on the interest rate and processing fees too. The after loan services are also nice.
      Was this review helpful? 0
      , karaikal
      Reviewed on Aug 14, 2017
    • HDFC Bank Personal Loan
      "High on ROI"
      0.5 3.0/5 "Satisfactory"
      After me applying for a personal loan with HDFC Bank. I did receive a proper response from them and I was given the details. The rate of interest was on the higher side. I was offered a rate of around 17%. I was also told that the bank would negotiate on the same and finally that they did not happen. So I cancelled my application.
      Was this review helpful? 0
      , karaikal
      Reviewed on Aug 14, 2017
    • HDFC Bank Personal Loan
      "Good services"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from HDFC Bank. The process and documentation was simple. The services were quick. The disbursement was also on time and in all I had no issues to get the loan through. The after loan services are also good and satisfactory.
      Was this review helpful? 0
      , indore
      Reviewed on Aug 14, 2017
    • HDFC Bank Personal Loan
      "Verbal communication part should be improved"
      0.5 3.0/5 "Satisfactory"
      I have submitted all the documents to the HDFC bank, then I didn't receive the confirmation call from them for the personal loan. Before collecting the documents, their service was good then post process was not upto the mark. It would be great if they improve their communication part.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 12, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The HDFC bank has asked me my Cheque leafs to proceed with the personal loan. The customer service was good from HDFC bank. The loan locking period was around 1 year with HDFC bank , so that was the reason I have choose ICICI bank. The rate of interest is low with Hdfc when compared with ICICI bank.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 12, 2017
    • HDFC Bank Personal Loan
      "High on ROI and charges. But smooth process"
      0.5 4.0/5 "Great!"
      My personal loan is from HDFC Bank, the best is the quick response. As soon as I placed my request, they contacted me and collected my papers on time. I also got the funds immediately and it was smooth. But the drawback is the bank is high on the interest rate and processing charges.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 12, 2017
    • HDFC Bank Personal Loan
      "Satisfied with the services"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from HDFC Bank and the process to get this loan was smooth. I have also closed the loan. I did not have any issues to close the loan. It was a nice experience overall. The interest rate and processing charges was normal.
      Was this review helpful? 0
      , jaipur
      Reviewed on Aug 12, 2017
    • HDFC Bank Personal Loan
      "On time process"
      0.5 5.0/5 "Blown Away!"
      Actually I was waiting for the response from ICICI bank for the personal loan but when I found that they are taking too much of time to initiate the process, I just canceled the application and I went with HDFC bank. HDFC is my existing bank for the salaried account. So I approached them and got good service. Not only that they processed the loan in a short span of time and disbursed the loan on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 12, 2017
    • HDFC Bank Personal Loan
      "Better service"
      0.5 4.0/5 "Great!"
      Compared to other banks HDFC gave decent interest rate in regards to my personal loan application. They have disbursed my loan amount within 10 days of time. The customer service is really good with HDFC bank. Minimum of 1 year is the locking period to this loan
      Was this review helpful? 0
      , vellore
      Reviewed on Aug 12, 2017
    • HDFC Bank Personal Loan
      "Satisfactory services"
      0.5 5.0/5 "Blown Away!"
      My personal loan with HDFC Bank and as always, I received this loan immediately. I got the loan within 3 three minutes. After I placed a request the bank checks on my payment history and offers me the loan without any delay. The interest and charges are also normal.
      Was this review helpful? 0
      , tirunelveli
      Reviewed on Aug 12, 2017
    • HDFC Bank Personal Loan
      "Not Satisfied with the services"
      0.5 2.0/5 "Expected more"
      HDFC Bank initially contacted me and informed me the details for the personal loan. After which there were no follow calls and it has not been a very good process for me, though I am an existing customer of the bank. The interest rate and processing charges was also high.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 12, 2017
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