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 2.5% 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 12586 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.

    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
    HDFC Personal Loan Offers

    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
      "Hassle free experience"
      0.5 4.0/5 "Great!"
      HDFC done very fast personal loan process, within two to three days they have sanctioned the loan and they have fulfilled my requirement. I was looking for Rs.10 lakhs of loan amount, HDFC offered me the same for the tenure of five years and with the interest rate around 11% its good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Below average service"
      0.5 1.0/5 "Really Bad"
      The HDFC didn't give any kind of response in concern to my personal loan application. I was trying to reach their executives several times, but they are not giving any response. At least they need to give the status of the product to the customers. The rate of interest is nominal with HDFC bank. The HDFC service need to be improved a lot.
      Was this review helpful? 0
      , patna
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Best"
      0.5 5.0/5 "Blown Away!"
      I had closed the personal loan from HDFC bank and the interest rate was around 14.5%, also I did not get the NOC papers because I used to get the notification through online itself. I used to take the loan through only offers like nil processing charges or a lesser one.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Friendly and Fast process"
      0.5 4.0/5 "Great!"
      HDFC processing fee is low, but interest rate was on the higher side when compared with CITI Bank for the personal loan. I took the amount of Rs. 8 lakhs and this was for a tenure of five years. I am very satisfied with HDFC service, they had processed the loan fast without any delay.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Good Interest rate"
      0.5 4.0/5 "Great!"
      I made an inquiry with HDFC bank for the personal loan. The interest rate offered was 11% for the personal loan and the loan amount is 5.5 lakhs. When compared with other banks and other financial competitor, HDFC is better in terms of the interest rate especially when it comes to personal loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Provide as promised"
      0.5 4.0/5 "Great!"
      I had taken my personal loan from HDFC Bank and the process was not completed within two days as I was informed at the beginning. The process was finally done in two weeks. The interest rate and processing charges was on the higher side as well.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      The response was good with HDFC bank personal loan. The loan process was good with HDFC bank. They took around 24 hours to disburse my personal loan. The rate of interest is nominal with HDFC bank. I am very much happy with the loan amount. I am satisfied with the HDFC banking service.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The level of service offered by HDFC bank is really great. My personal loan got approved within 10 minutes of time, after approving the loan got disbursed within 2 minutes. I would say it was a pre-approved personal loan on my salaried account with HDFC bank. I have never submitted any kind of document with respect to my personal loan. I am happy about the loan amount. The rate of interest was nominal with HDFC bank. I am very much satisfied with HDFC bank service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      After I applied for a personal loan with HDFC Bank, I appreciate the response, that I got from them unlike ICICI. The team contacted me immediately and also processed my details on time. It was my decision to back out from the loan process. The interest rate and charges were very much normal.
      Was this review helpful? 0
      , salem
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Response part has to be improved"
      0.5 1.0/5 "Really Bad"
      I never got any response from HDFC, no body contacted me. Almost I waited there for three weeks of time, there was no response from the bank's end. Finally my application got closed without proper service, I am very much unhappy with their service too.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Not Satisfactory"
      0.5 2.0/5 "Expected more"
      HDFC Bank has not been up to the mark in the terms and conditions for the personal loan. So I declined my application with them. The interest rate and processing charges were very high. It was around 17%. It has not been a good experience for me. I am not happy with the services too.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I have closed the personal loan with the HDFC bank and the interest rate was an average one on that time. Processing charges were also a nominal one and there was no annual charges. They have disbursed the loan amount within a month of time.
      Was this review helpful? 0
      , nagpur
      Reviewed on Jun 21, 2017
    • HDFC Bank Personal Loan
      "Wonderful "
      0.5 5.0/5 "Blown Away!"
      Interest rate with the HDFC bank was nominal one for the personal loan. The loan amount got disbursed to my account within seven days of time. Services and other aspects are good one with the HDFC bank, also the processing charges were nominal one.
      Was this review helpful? 0
      , nagpur
      Reviewed on Jun 21, 2017
    • HDFC Bank Personal Loan
      "They should give comfortable service to the customer"
      0.5 3.0/5 "Satisfactory"
      I got a call from HDFC, they asked me to send the documents to their email id, then I sent, but called and informed it was not clear. Again they asked me to submit the documents directly, But unfortunately I don't have time to visit hence my loan application got closed. It would be great if they provide customer satisfactory service.
      Was this review helpful? 0
      , cuddalore
      Reviewed on Jun 21, 2017
    • HDFC Bank Personal Loan
      "Need Improvement and customer oriented ,need speedy process"
      0.5 2.0/5 "Expected more"
      Basically the HDFC bank didn't ready to provide the loan amount which is required, and moreover the maximum tenure they are offering for the loan for 5 years and I wanted the loan with 2 years of tenure, they are not letting me to take the loan with 2 years tenure. The representative who was in touch with me was completely irresponsible and they were forcing me take up the 5 year tenured loan because of the interest rate. The time taken by the HDFC bank is too long, initially they told they can finish the process within 2 to 3 days but they took around 3 weeks, so I asked them to closed my application. The rate of interest is competitive with HDFC bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 21, 2017
    • HDFC Bank Personal Loan
      "Good Response"
      0.5 4.0/5 "Great!"
      Initially I applied for the car loan with HDFC bank for a particular car model. But later I have decided to go for Nissan for which I got minimum rate of interest from other bank so I did not proceed my car loan with HDFC. Otherwise I do not have any issues with the bank.
      Was this review helpful? 0
      , nagpur
      Reviewed on Jun 21, 2017
    • HDFC Bank Personal Loan
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      I approached the HDFC through my personal banker, from Bangalore zone I used to get a call from Relationship manager. I have requested for personal loan, within three to four days they have disbursed the amount. I have submitted the documents through online. I have taken the amount of Rs.2 lakhs for three years. They gave interest 11.49% and taken Rs.1000 as processing fee from disbursement.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 21, 2017
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 5.0/5 "Blown Away!"
      The time scales taken to process the personal loan needs to be improved or reduced. HDFC Bank disbursed my personal loan within a span of 9 days of time which is higher than the normal one. Where as other banks normally takes only 3 to 4 days. The rate of interest for the personal loan was around 11.29% when compared with other banks that is the best interest rate in the market. Though HDFC Bank was unable to offer the complete loan amount I am in need of, but still I am happy with the way my loan was processed.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 21, 2017
    • HDFC Bank Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I was looking for the interest rate of 10.99% but HDFC offered me the interest rate around 15% it is higher side for the personal loan. Hence I don't have an idea to process my loan with HDFC, it would be better if they provide least interest rate for low salary holders.
      Was this review helpful? 0
      , haveri
      Reviewed on Jun 21, 2017
    • HDFC Bank Personal Loan
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      The Personal loan process with HDFC bank was smooth, Within 5 days the loan got disbursed in my account. The documentation process was done quite good. The HDFC executive came to my place and collected the required documents. The rate of interest was low, when compared with others. I happy about the loan amount.
      Was this review helpful? 0
      , noida
      Reviewed on Jun 21, 2017
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