Multiple banks. Different interest rates. Call it a "conflict of interest".

HDFC Personal Loan Interest Rates 2019

HDFC bank offers low-interest rate personal loans to ensure the borrowers pay low Equated Monthly Instalments and save money.

  • HDFC Personal Loan Interest Rate - 11.25% to 21.5% p.a.
  • Loan Amount - Rs.50,000 to Rs.40 lakh
  • Loan Tenure - 12 months to 60 months
  • Lowest EMI - Rs.1,203

HDFC Personal Loan Details

Processing Fee Up to 2.5% of the loan amount (min. Rs.1,999 and max. Rs.25,000)
Prepayment Charges
  • 4% of the outstanding balance if the loan is prepaid within 13 to 24 months
  • 3% of the outstanding balance if the loan is prepaid between 25 and 36 months
  • 2% of the outstanding balance if the loan is repaid after 36 months
Age of Borrower Between 21 and 60 years

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.

How to calculate HDFC Personal Loan Rates?

There are two formulas you can use to calculate the interest. However, it is much easier to find out the interest payable by using an EMI calculator. You can use HDFC Personal Loan EMI Calculator to figure out your monthly repayment amount. Just enter your loan details and click the ‘Calculate’ tab. 

Example 1: Calculate EMI on a loan of Rs.5 lakh at the lowest interest rate 

Let’s say you have taken a Rs.5 lakh loan from HDFC Bank for 4 years at an interest rate of 15.50% p.a. The processing fee is up to 2.50% on your loan amount. 

Your EMI will amount up to Rs.14,042. 

Below is the loan amortisation table for a 4-year loan taken in March 2019 until February 2023: 

Year Principal paid (Rs.) Interest paid (Rs.) Outstanding amount (Rs.)
2019 80,405 60,019 4,19,595
2020 1,11,148 57,360 3,08,447
2021 1,29,654 38,856 1,78,792
2022 1,51,244 17,267 27,550
2023 27,550 535 0
Example 2: Calculate EMI on a loan of Rs.5 lakh at the highest interest rate

Now, let’s assume the interest rate is much higher at 21.50% p.a., keeping all the other factors the same. In this case, your EMI will be Rs.15,618.

Here’s what your loan amortisation table for 4 years (March 2019 to February 2023) will look like: 

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.

Year Principal paid (Rs.) Interest paid (Rs.) Outstanding amount (Rs.)
2019 72,228 83,950 4,27,773
2020 1,05,431 81,983 3,22,343
2021 1,30,471 56,942 1,91,873
2022 1,61,457 25,953 30,415
2023 30,416 820 0

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.


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 spouses earnings with yours.

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.

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 BankBazaars 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.

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.

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.

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 BankBazaars 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.

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.

Is it allowed to repay ones 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.

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.
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.

Is my personal and financial data safe with BankBazaar?

BankBazaar gives highest importance to data security. We dont share any customer data with any third party government or private agency unless the party is directly involved in providing you the requested services.

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.

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.

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.

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.

Personal Interest Rates

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