• HDFC Personal Loan Interest Rates

    HDFC Bank offers personal loan at an interest rate ranging between 10.50% to 21.50% p.a. One can choose a repayment tenure between 1 year to 5 years. However, the interest rate levied on your loan will depend on factors such as the loan amount, your credit score etc.

    Particulars Salaried/Self Employed
    Interest Rate 10.50% to 21.50% p.a.
    Processing Fee 2.50% of the loan amount (Min Rs.2,999 & Max. Rs. 25,000)
    Loan Tenure 1 year to 5 years
    Loan Amount Rs. 50,000 to Rs.40 lakh
    Salary/Income 15,000 onwards (Rs. 20,000 in Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Cochin)
    Credit Score Above 750
    Lowest EMI per Lakh Rs.2,187
    Pre-Payment/Foreclosure Charges Allowed after 12 EMI's
    • 13 to 24 months: 4% of outstanding principal balance
    • 25-36 months: 3% of outstanding principle
    • Above 36 months: 2% of outstanding principle
    Overdue EMI Interest 2% per month on EMI

    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.

    Features of HDFC Personal Loan Scheme

    • If you are a customer of HDFC Bank and if you apply for a personal loan, the loan amount will get approved within 10 seconds if you meet the required criteria. If you are not a customer of HDFC and have applied for a loan, you will get the loan amount credited to your bank account within 4 hours post the approval of your loan.
    • You can apply for a HDFC personal loan by visiting the official website of the bank.
    • On availing a personal loan from HDFC Bank, you can protect yourself by availing the insurance cover provided by the bank. You can opt for a personal accident cover of up to Rs.8 lakh and a critical illness cover of up to Rs.1 lakh. In case something happens to you due to an accident or you get hospitalised after getting diagnosed with a critical illness, you can claim the cover amount. The premium amount will be deducted from your loan amount including the tax and surcharge fees.
    • As a customer of HDFC Bank, you get to enjoy various special benefits, charges, and offers if you avail a personal loan from them. If you are availing a personal loan from HDFC Bank for the first time, you get to choose your repayment tenure and the EMIs that you will have to pay will be cheap and affordable.

    Factors Affecting HDFC Personal Loan Interest Rates

    • 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.

    Other Fees and Charges of HDFC bank Personal loan

    • Cheque swapping charges: Rs.500
    • Amortization schedule charges: Rs.200
    • Cheque bounce charges: Rs.550

    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.

    How to calculate HDFC Personal Loan interest 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.


    1. For Salary of Rs.25,000 Per Month

    Mr.Singh earns a monthly salary of Rs.25,000 and has a credit score of only 600. He avails a loan of Rs.2 lakh from HDFC Bank with a repayment tenure of 1 year. Due to his low credit score, he is charged with an interest rate of 18% and a processing fee of 2%. The monthly EMIs that he will have to pay are given in the table below:

    Loan amount Rs.2 lakh
    Processing fee 2%
    Loan tenure 1 year
    Interest rate 18%
    Monthly EMI Rs.18,336
    Month Principal Paid(A) (in Rs.) Interest Paid(B) (in Rs.) EMI (A+B) (in Rs.) Outstanding Loan Balance (in Rs.)
    1 Rs.15,336 Rs.3,000 Rs.18,336 Rs.1,84,664
    2 Rs.15,566 Rs.2,770 Rs.18,336 Rs.1,69,098
    3 Rs.15,800 Rs.2,536 Rs.18,336 Rs.1,53,298
    4 Rs.16,037 Rs.2,299 Rs.18,336 Rs.1,37,262
    5 Rs.16,277 Rs.2,059 Rs.18,336 Rs.1,20,985
    6 Rs.16,521 Rs.1,815 Rs.18,336 Rs.1,04,464
    7 Rs.16,769 Rs.1,567 Rs.18,336 Rs.87,695
    8 Rs.17,021 Rs.1,315 Rs.18,336 Rs.70,674
    9 Rs.17,276 Rs.1,060 Rs.18,336 Rs.53,398
    10 Rs.17,535 Rs.801 Rs.18,336 Rs.35,863
    11 Rs.17,798 Rs.538 Rs.18,336 Rs.18,065
    12 Rs.18,065 Rs.271 Rs.18,336 Rs.0

    2. For Salary of Rs.50,000 Per Month

    Mrs. Mehta earns a monthly salary of Rs.50,000 per month and has a credit score of 750. She avails a personal loan of Rs.2 lakh for a tenure of 1 year. Due to her impressive credit score she is charged a relatively lower interest rate of 15% and a processing fee of 2% on her loan. The monthly EMIs that she will have to pay are given in the table given below:

    Loan amount Rs.2 lakh
    Processing fee 2%
    Loan tenure 1 year
    Interest rate 15%
    Monthly EMI Rs.18,052
    Month Principal Paid(A) (in Rs.) Interest Paid(B) (in Rs.) EMI (A+B) (in Rs.) Outstanding Loan Balance (in Rs.)
    1 Rs.15,552 Rs.2,500 Rs.18,052 Rs.1,84,448
    2 Rs.15,746 Rs.2,306 Rs.18,052 Rs.1,68,702
    3 Rs.15,943 Rs.2,109 Rs.18,052 Rs.1,52,759
    4 Rs.16,142 Rs.1,909 Rs.18,051 Rs.1,36,617
    5 Rs.16,344 Rs.1,708 Rs.18,052 Rs.1,20,273
    6 Rs.16,548 Rs.1,503 Rs.18,051 Rs.1,03,725
    7 Rs.16,548 Rs.1,297 Rs.18,052 Rs.86,970
    8 Rs.16,965 Rs.1,087 Rs.18,052 Rs.70,005
    9 Rs.17,177 Rs.875 Rs.18,052 Rs.52,829
    10 Rs.17,391 Rs.660 Rs.18,051 Rs.35,437
    11 Rs.17,609 Rs.443 Rs.18,052 Rs.17,829
    12 Rs.17,829 Rs.223 Rs.18,052 Rs.0

    HDFC Personal Loan Top-up loans

    Customers who require additional funds over their existing home loan can opt for the HDFC Top-up loan facility. Customers can top-up their loans up to Rs.50 lakh or up their existing loan amount, whichever is lower. The interest rate offered for the HDFC Personal loan top-up is between 9.15 % p.a. to 9.65 % p.a. and the tenure is subject to that of the existing loan.

    Eligibility criteria for HDFC Top-up Loan

    • Should be 18 years – 65 years to be eligible to apply for the top-up personal loan.
    • The applicant should be a resident of India.
    • Should be a salaried or self-employed individual.
    • Should have an existing HDFC Bank home loan.

    HDFC Bank personal loan balance transfer

    Customers who wish for lower interest rates on their existing personal loans can opt for the HDFC Bank personal loan balance transfer from another financial lender. To transfer their personal loan balance to HDFC Bank, customers will be offered interest rates as low as 11.49% and will be charged a processing fee of Rs.3,499.

    FAQs on HDFC Personal loan Interest Rates

    1. What are the HDFC Bank personal loan interest rates for salary account holders?
    2. The interest rates offered for salaried individuals applying for a HDFC Bank personal loan are between 10.75% p.a. to 21.50% p.a.

    3. Can I close my HDFC Bank personal loan after 1 year?
    4. Yes, you are eligible for a part or complete foreclosure after payment of 12 EMIs.

    5. How to close HDFC Bank personal loan before 1 year?
    6. You cannot choose to foreclose your HDFC Bank personal loan account before payment of 12 EMIs.

    7. Can I negotiate the HDFC Bank personal loan interest rate?
    8. The interest rate will be set by HDFC Bank based on a number of factors such as the age, income, job type, company, gender, credit score, loan amount and tenure chosen, etc. Yes, you can negotiate for a favorable interest rate but at the discretion of the bank.

    9. Which documents should I carry at the time of visiting HDFC Bank?
    10. Carry documents that prove your identity (Passport, Aadhaar card, Voter ID Card), address (Voter ID card, Utility Bill, Passport), proof of income (IT returns, pay slips, bank statements, Form 16) , passport photographs and PAN card.

    11. Is it possible for non HDFC customers to get a personal loan from HDFC Bank?
    12. Yes, it is possible.

    13. How to check HDFC Bank personal loan balance?
    14. You can request the customer care unit of HDFC Bank to send you a copy of the repayment schedule to know your personal loan balance.

    15. How to pay HDFC Bank personal loan EMI?
    16. You can pay your HDFC Bank personal loan EMI through your net banking account or you can give the bank standing instructions for the automatic debit of your HDFC Bank personal loan EMI.

    17. How to pay HDFC Bank personal loan EMI through net banking?
    18. Sign in to your HDFC Bank personal loan account using username and password, under linked loans, click on the due amount. Make the payment using your net banking credentials.

    19. How to get HDFC Bank personal loan statement?
    20. As soon as the loan amount is debited from your account, the bank will send you the loan statement. You can check your loan statement using your net banking account.

    21. How to pay HDFC Bank personal loan EMI online from other bank?
    22. Link your HDFC personal loan account to your bank account. Once that is done, you can set the auto debit mode for your EMIs to make your payments.

    23. How to get HDFC Bank personal loan status by mobile number?
    24. Register your mobile number with HDFC Bank to get regular personal loan updates and statuses.

    25. How to track HDFC Bank personal loan application status?
    26. Use your application reference number to check your personal loan status on the website of HDFC Bank.

    27. What is the HDFC Bank personal loan disbursement time?
    28. HDFC Bank promises disbursement of the personal loan within 4 hours from approval.

    29. What is the minimum or maximum amount of personal loan I can secure from HDFC Bank?
    30. 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.

    31. What will be the timeline provided to me for repaying my loan amount?
    32. You may avail a personal loan and repay the same in a period of 12 to 60 months depending on your credit profile.

    33. Is there a way to check my eligibility before I apply for a personal loan from HDFC?
    34. 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.

    35. What is the documentation needed to apply for HDFC Personal Loan?
    36. The primary documents needed to apply for a personal loan from HDFC will include identity proof, address proof and income proof.

    37. Can I prepay my loan amount in part?
    38. Part prepayment is not permissible. The loan amount has to be prepaid in full or to be paid in installments as per the contracted tenure.

    39. How can I know the EMI amount that has to be paid on my personal loan?
    40. 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.

    41. Can I apply for a personal loan through BankBazaar website? How long would the whole process take?
    42. 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.

    43. Is it allowed to repay ones personal loan earlier?
    44. 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.49,000 is not accepted for prepayment, full payment or loan closure. All payments above Rs.49,000 are to be made via Demand Draft, Account Payee Cheque, or Pay order.

    45. What is the procedure to change the address in my loan account?
    46. 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.
    47. What are the additional charges applicable on loan repayment?
    48. Additional charges are applicable in case the loan is defaulted or the mode of repayment is changed during the tenure of loan.

    49. If I change the mode of payment for my personal loan, what will be done with my post-dated cheques?
    50. 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.

    51. How important is CIBIL score in determining my loan eligibility?
    52. 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.

    53. Does salary account with HDFC of any help for availing personal loan?
    54. 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 installments from your account.

    55. Is there a need for a security or collateral to get a personal loan from HDFC Bank?
    56. No, there is no need for security, collateral deposits, or guarantee in availing HDFC personal loans.


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