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% - 21.25% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    HDFC Personal Loan Interest Rates is Rated as "Great!" by 14976 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.

    Perfect Personal Loan Deals for you

    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
      "Very good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with HDFC bank 1 year back. The loan amount was 5 lakhs and the interest rate was satisfactory . The tenure period was 5 years . The process was very quick and satisfactory . I have got the loan with in a day. Here pre closure is after 3 months and the processing fee was bit high . My overall experience was good.
      Was this review helpful? 1
      , navi mumbai
      Reviewed on Jul 14, 2018
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The process in getting the loan had been very smooth and easy and the loan amount which they had provided had been satisfactory. The interest rate with them had been average and there has not been any hassles faced during the process and with the staff responses. I have taken totally two loans from them.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jul 13, 2018
    • HDFC Bank Personal Loan
      "Better service"
      0.5 3.0/5 "Satisfactory"
      My personal loan was taken with HDFC Bank 1 month back. The loan amount was 1,90,000 and the interest rate was very satisfactory . The customer service and responses was good. The tenure period was 3 years .The staffs were very supportive and guided well. The processing fee was very nominal.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 12, 2018
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from the HDFC bank. The loan amount was 15 lacs, it was quite fast and the processing was very fast. The interest rate was low when comparing to other banks. Overall it has been a very good loan experience with the HDFC bank.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 12, 2018
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The process in getting the loan had been very good and the loan had been satisfactory. The interest rate with them had been average and it has not been that low when compared with the market rate. I had taken this loan for my personal purpose and it had been a very good experience i had. Even their customer support and the staff response had been good as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 12, 2018
    • HDFC Bank Personal Loan
      "Good "
      0.5 3.5/5 "Pretty good"
      My personal loan was taken with HDFC bank 1 month back. The loan amount was 5 lakhs and the interest rate was satisfactory . The tenure period was 5 years . The process was good and the documentation was very simple .I have applied through on line and with in few days the loan was sanctioned.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 12, 2018
    • HDFC Bank Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It had been a very good experience with them and the process in getting the loan had been easy and smooth. The loan amount which they had provided had been satisfactory. The interest rate with them had been normal compared with the market rate. I had taken this loan for my personal usage.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 12, 2018
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The process in getting the loan had been smooth and easy and there has not been any processing fee charged by them. The loan amount which they had provided had been satisfactory and the interest rate with them had been nominal and it was around 99 paisa. There has not been any hassles faced with them.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 12, 2018
    • HDFC Bank Personal Loan
      "Above average service"
      0.5 3.5/5 "Pretty good"
      I have taken a personal,loan from the HDFC bank for 8 lacs. The interest rate was 14% but the banking services were good. They also sold an insurance policy with the loan which wasn't good. Overall it was comparatively better.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 11, 2018
    • HDFC Bank Personal Loan
      "They need to reduce the pre-closure charges"
      0.5 3.0/5 "Satisfactory"
      They have offered me a interest rate of 10.99 % which is very low compared to other banks. I have applied the personal loan amount of 5 lakhs and they have sanctioned the same. I don't remember about the processing fee. I used to pay the EMI amount of Rs. 16000 every month. Its easy to get a loan from the HDFC and i have received on time also. The pre-closure is available which is 4% and i have not availed the same.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 11, 2018
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from the HDFC bank for 60000, the interest rate was good 13-12% when I have applied for the loan. I got a better offer as the interest rate has been changed drastically. I am happy with the personal experience with the HDFC.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 11, 2018
    • HDFC Bank Personal Loan
      "Best Service"
      0.5 4.5/5 "Excellent!"
      I have taken a personal loan with HDFC bank and my experience was good, the loan amount was for Rs 3 lakhs with nominal interest rate when compared to other banks. The charges are very minimal for this loan. The tenure period for this loan is 5 years out of which i have completed 3.5 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 11, 2018
    • HDFC Bank Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with HDFC Bank 4 years back. The loan amount was 5 lash and the interest rate was satisfactory . The EMI period was 4 years .I had a smooth documentation and the processing fee was also very nominal. The customer service and responses was upto the mark.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 11, 2018
    • HDFC Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have taken personal loan from Hdfc bank . The rate of interest is promising one which is too nominal. They gave tenure of 3 years . I make the payments through Ecs . They did instant approval for documentation and approval with in 1 days with zero processing fees .Am satisfied with their customer service and response
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jul 11, 2018
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with HDFC bank 8 months back. The loan amount was 1.5 lakhs and the interest rate was very satisfactory .The customer service and responsiveness was really good. The EMI period was 2 years . Its a insta loan process so the loan got approved with in 10mins. There is no delay in the disbursement and its a paperless documents so i had a convenient loan experience .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 10, 2018
    • HDFC Bank Personal Loan
      "Need to reduce charges"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience was good with HDFC bank, the loan amount was for Rs 7.5 lakhs with high interest rate when compared to other banks. I was not informed about the processing fee. Customer service was good and they responded on time. The tenure for this loan is 3 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 10, 2018
    • HDFC Bank Personal Loan
      "Poor Service"
      0.5 1.0/5 "Really Bad"
      I took a personal loan from the HDFC bank. I got the loan with in 3-4 days. Once the corporate account was converted to the savings account they started charging and every time I deposit the loan EMI it bounces back due to the unwanted charges.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 10, 2018
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from the HDFC bank for 9.57 Lacs, the interest rate is 10.99 % which is nominal when comparing with other banks in the market. . I got the loan with in 5 days. There was no hassle and the whole application and the documentation was also seamless.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 10, 2018
    • HDFC Bank Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan from Hdfc bank . Am satisfied with the rate of interest which they have provided . There is processing fees for the loan which is nominal one. I make the payments through Ecs every month . They gave the tenure period of 3 years . They did quick documentation and received the loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 10, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      Got my Jumbo personal loan from HDFC bank , It got instantly approved through mobile application of Hdfc bank where the Rate of interest is also high compared to other banks, their customer service and response is good.Made payments through ECS .The tenure period is 3 years and the pre closure charges are also too high .
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jul 10, 2018
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