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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
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    HDFC Personal Loan Interest Rates is Rated as "Great!" by 15203 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.

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    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
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have taken my personal loan was taken with HDFC Bank 2.5 years back. The loan amount was 1 lakh.The interest rate was quite satisfactory and the tenure period was 2 years .I am happy with the service and responses . There is no inconvenience faced and the pre closure is after 2 years .
      Was this review helpful? 2
      , new delhi
      Reviewed on Sep 21, 2018
    • HDFC Bank Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with HDFC Bank and the process of documentation process was very good. I got the loan on time and the rate of interest and processing charges is nominal and in all there are no issues to get the loan. A smooth process in all.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 21, 2018
    • HDFC Bank Personal Loan
      "Very good"
      0.5 4.5/5 "Excellent!"
      I have taken my personal loan with HDFC bank 1 year ba4ck. The loan amount was 4,25,000 and the interest rate was average The tenure period was 2 years . I had a good satisfactory experience . They have sanctioned the loan with the committed time also. There are no difficulties faced .
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 20, 2018
    • HDFC Bank Personal Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with HDFC bank 1 year back. I have taken 2.5 lakhs and the interest rate was satisfactory . I am happy with the customer service and responses. There is no inconvenience faced and the process was completely hassle free.
      Was this review helpful? 2
      , chennai
      Reviewed on Sep 20, 2018
    • HDFC Bank Personal Loan
      "good service"
      0.5 5.0/5 "Blown Away!"
      My jumbo loan was taken with HDFC BANK , the tenure period is 2year . They charge 15% of interest rate and it is too high. There is no processing fee with this bank and the best part they gave preclosere option . The service and process was good and smooth with this bank .
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 19, 2018
    • HDFC Bank Personal Loan
      "good service"
      0.5 5.0/5 "Blown Away!"
      My jumbo loan was taken with HDFC BANK , their tenure period is 4year . The best part is processing fee is free with this bank and rate of interest is 1.3% which is nominal in the market . There is option preclosere with 3% on principal amount . Overall it is good to have HDFC BANK.
      Was this review helpful? 2
      , pune
      Reviewed on Sep 19, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with HDFC bank and my experience was good, the loan amount was for Rs 1 lacs with nominal interest rate of 11.5%. Customer service was good with this bank and they followed up on time and the tenure period for this loan is 2 years.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 19, 2018
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a very good experience i had with this personal loan and the loan amount which they had provided also had been satisfactory as well. The interest rate with them has been nominal when compared with the market rate. Their customer support also had been responsive where they had been helpful at times.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 19, 2018
    • HDFC Bank Personal Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      I am a prime customer of HDFC Bank and they have offered me a personal loan as well. The customer services and response is good and the process was on time to get the loan. The rate of interest and processing charges was normal too. I am happy with the experience.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 18, 2018
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had chosen to go with HDFC since my salary account has been with them so that it will be very much easy so that the EMI will be deducted directly from my bank account. The process in getting this loan ahs been easy and smooth and the loan amount which they had provided also had been satisfactory. There has been an offer going on and since the interest rate with them has been quite low when compared with the market rate.
      Was this review helpful? 2
      , noida
      Reviewed on Sep 17, 2018
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 4.0/5 "Great!"
      It has been a very good experience i had with this personal loan from HDFC where the process in getting this loan had been smooth and easy. The loan amount which they had provided had been satisfactory and the interest rate with them has also been good when compared with the market rate.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Sep 17, 2018
    • HDFC Bank Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      It has been a very good experience i had with them so far. The loan amount which they had provided also had been satisfactory and the interest rate which they had charged also had been very low when compared with the market rate. There has been some processing fee which they had charged, their customer support and their staff responses also had been good but it has been hard to reach with their customer support executives.
      Was this review helpful? 1
      , vijayawada
      Reviewed on Sep 17, 2018
    • HDFC Bank Personal Loan
      "good service"
      0.5 4.0/5 "Great!"
      My personal loan was taken with HDFC BANK ,They charged 16% rate of interest which is too high and tenure period is 2year .The processing fee with this bank is 2% and it is too high with this bank . Loan amount is up to the mark with this bank . Customer support and their response is good with this bank .
      Was this review helpful? 2
      , gurgaon
      Reviewed on Sep 17, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My experience with HDFC bank for personal loan was good, the process took 1 week to complete. The loan amount was for Rs 1 lac with nominal interest rate when compared to others. Customer service was good and they responded on time. The tenure period for this loan is 2 years.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 17, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The process in getting this loan has been smooth and easy. The loan amount which they had provided had been less than i expected, but the interest rate with them had been good. There has not been any hassle faced with the services of them. Their customer support and their staff responses also had been good as well.
      Was this review helpful? 3
      , new delhi
      Reviewed on Sep 17, 2018
    • HDFC Bank Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been a good experience in getting this personal loan and the loan amount which they had provided also had been satisfactory. The interest rate with them has been a little higher when compared with the market rate. There has not been any charges which they had taken on processing and their customer support had been good.
      Was this review helpful? 5
      , bangalore
      Reviewed on Sep 17, 2018
    • HDFC Bank Personal Loan
      "Not satisfied with the service"
      0.5 1.0/5 "Really Bad"
      The experience i had with them has not been satisfactory and the process has been good in getting the loan. There has been some small issues when i was trying to close it before the tenure period where there was no option for a pre closure. The interest rate has been quite nominal with them and the loan amount was okay.
      Was this review helpful? 3
      , chennai
      Reviewed on Sep 17, 2018
    • HDFC Bank Personal Loan
      "good service"
      0.5 4.0/5 "Great!"
      My personal loan was taken with HDFC BANK , the processing fee is 8000 and it is too high , there is no preclosere option with this bank . Rate of interest is 17.5% and it is not nominal in the market . Customer support and their response is good , i got my loan soon , there is no issue with this bank .
      Was this review helpful? 3
      , chennai
      Reviewed on Sep 16, 2018
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank has also offered me a personal loan. The customer services and response is good. The process to get the loan was smooth and easy. The rate of interest and processing charges is also normal. The after loan services are good and on time.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 15, 2018
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this loan a long time back and the process in getting the loan was smooth and easy where i had done everything through internet banking. The loan amount which they had provided had been satisfactory and the interest rate which they had charged also had been good. There has not been any hassles faced with their banking services so far.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 12, 2018
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