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% - 20.70% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Paperless approval available
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    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    HDFC Personal Loan Interest Rates is Rated as "Great!" by 14002 Users

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    HDFC Personal Loan Interest Rates

    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.

    HDFC Personal Loan Interest Rates Reviews

    • HDFC Bank Personal Loan
      "Good rate of interest"
      0.5 4.0/5 "Great!"
      This is my first Loan and Axis Bank did provide me with a good offer. They gave me the amount that I asked for with a Rate of Interest of 11.5%, which I feel is one of the best anybody could get. The loan got approved very easily and didn't require huge paperwork.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 24, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got the Higher loan amount with the low interest rate when compared with other banks with HDFC bank. The processing fee and the charges were also low with HDFC personal loan service when compared with other banks. I got the loan amount with in 30days of time. I am satisfied with the HDFC bank personal loan service.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 24, 2017
    • HDFC Bank Personal Loan
      "Satisfied"
      0.5 4.5/5 "Excellent!"
      My personal loan is from HDFC Bank and the experience is good. The process was on time and there are no issues in the documentation. The rate of interest and processing charges is normal and the after loan services is also good. A very good experience till date.
      Was this review helpful? 0
      , noida
      Reviewed on Nov 24, 2017
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It was a very fast service from hdfc for my car loan service the interest rate they quoted me was reasonable from other banks in the market the documents have been collected from door step also the customer service was prompt it was a excellent service from hdfc for my car loan service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 24, 2017
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience with HDFC bank was good, the process was very smooth and easy. No documents were required as i already have an account with this bank. The loan amount was approved within 2 days. I have taken loan for Rs 2.5 lakhs with the rate of interest of 12.9% which is best rate when compared to other banks. Customer service was good and they responded on time.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Nov 23, 2017
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It was a good experience with hdfc for my personal loan service the process was very fast with hdfc they took only ten days to process the loan process they offered me a interest rate of 10.75 which was comfortable for me and the documents part was easy it was a awesome service from hdfc for my personal loan service.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 23, 2017
    • HDFC Bank Personal Loan
      "Need Improvement"
      0.5 3.0/5 "Satisfactory"
      The response was not up to the mark with the HDFC bank personal loan service. The information which they gave is not true and the response part need to be improved with HDFC bank. I got the personal loan with HDFC bank around 2 years ago. I have got the required loan amount and the rate of interest is high when compared with other banks.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 23, 2017
    • HDFC Bank Personal Loan
      "Its very quick"
      0.5 5.0/5 "Blown Away!"
      I work for a company called Erricison as it is listed, HDFC Bank managed to offer a discount on the rate of interest which is 11.9% . Another plus was, the bank also waived off the processing fee once after I demanded for a waiver of processing fee. The service level action taken to process the request was hardly 5 days. The only limitation here is part payment option, as it is not there.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "Charges has to be reduced"
      0.5 4.0/5 "Great!"
      Personal loan was fast in HDFC, they disbursed the loan amount on time. I took the loan of Rs. 2.5 lakhs and 1.40 lakh, they gave higher interest and with huge processing fee. Finally I foreclosed my loan by paying 4% of interest on principal amount.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "Fast process"
      0.5 5.0/5 "Blown Away!"
      My first personal loan process was completed within five seconds. It was a pre approved loan which I could apply on the net banking. After I applied for the same I got the loan immediately. The rate of interest was around 15 to 16% which is on the higher side.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      It was a personal loan from HDFC Bank. It is a top up loan. The bank processed the loan within three to four days. The rate of interest was of 12% and the processing charges are normal. The interest rate is a bit on the higher side. The after loan process is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 4.5/5 "Excellent!"
      My personal loan experience with HDFC bank was quite good, the loan amount was for Rs 5 lakhs with the rate of interest of 14% which was the best rate in the market. The process was very smooth and easy, the loan amount was approved within the given time. Customer service was good and they followed up on time.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "Nice experience"
      0.5 4.0/5 "Great!"
      My personal loan is from HDFC Bank and the bank was quick in the response as soon as I placed a request. They have offered me a good deal on the loan and the processing charges is also normal. The disbursement happened on time and as per my expectation.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "The experience was good"
      0.5 5.0/5 "Blown Away!"
      The process for getting a Personal Loan with HDFC Bank was quite simple. They required very minimal amount of documents and the process was pretty quick too. Their Rate of Interest is one of the best in the Market. I have been a happy customer of HDFC for a while now.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "Need improvement"
      0.5 1.0/5 "Really Bad"
      The HDFC bank executives promised me that they will send the executive to collect the documents but no came to collect the documents. The customer support is average with HDFC bank. They need to stick on their promises. The service need to be improved with HDFC bank.
      Was this review helpful? 0
      , chittoor
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      Within 10 seconds I got the personal loan from HDFC bank . They have offered me a pre approved loan so I never submitted any documents to HDFC bank. The customer support was very prompt with their service, because they have approved the required loan amount. The rate of interest and the charges are nominal with HDFC bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I had taken a personal loan service from hdfc the interest rate they offered me was 14 % which was high compare to other banks ,I use to get regular followups from hdfc executives which was very helpful for me to process the loan further it was totally a amazing experience with hdfc for my personal loan service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "Special experience"
      0.5 5.0/5 "Blown Away!"
      The experience with HDFC in regards to my Personal Loan was special. They gave me the loan within 1-2 days and the documentation required was minimal. The Rate of Interest offered by them are very nominal too. Their communication was also good with me.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "Needs to improve"
      0.5 1.0/5 "Really Bad"
      My personal loan experience was not good with HDFC bank, there are lot of hidden charges and those charges are not informed prior to taking the loan. The loan amount was for 3 lakhs with the rate of interest of 14% which is high when compared to other banks. Document was collected door step and the loan amount was approved within a week. Customer service was not up to the mark, they did not keep their commitments.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Hdfc bank.The loan amount is one lakh.The rate of interest is 15% low compared to other banks.Tenure is for 3 years.The monthly EMI is 3400,they had deducted processing fees of an amount 500.The net banking service is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 22, 2017
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