Multiple banks. Different interest rates. Call it a "conflict of interest".
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    HDFC Personal Loan Interest Rates

    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
    Rs.1000 Amazon voucher free 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 12364 Users

    Personal Loan BYTES FROM OUR KITCHEN

    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.

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    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

    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
      "Fast and Best Service in HDFC"
      0.5 5.0/5 "Blown Away!"
      I am an account holder of HDFC, hence my home branch have reached me and provided the best loan option. They sanctioned the personal loan with the interest rate around 14% and they processed within same days. Hence I have cancelled HDFC online loan request.
      Was this review helpful? 1
      , dindigul
      Reviewed on May 27, 2017
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have made the balance transfer of my personal loan with the HDFC bank and the rate of interest was around 11.29%, which is really good. The loan amount got disbursed to my account within three to four days of time, also there were no processing charges with them till now.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 27, 2017
    • HDFC Bank Personal Loan
      "Fast process"
      0.5 5.0/5 "Blown Away!"
      HDFC bank offered me a very good interest rate and I am a long time customer of this bank. I have tried a lot of products and they have offered the best of services. The personal loan process was smooth and I got the loan on time. After the disbursement, I got the loan details trough SMS and emails.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 27, 2017
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I did not avail the personal loan from HDFC bank because they have denied the process to dealt with it. Rate of interest was around 11% with the HDFC bank and the customer service was good one with them. I would like to deal with them in future too.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2017
    • HDFC Bank Personal Loan
      "Super fast process"
      0.5 5.0/5 "Blown Away!"
      I applied for a personal loan with HDFC Bank in the morning and on the very same evening I got the funds. The process was super fast and the loan amount provided was as required. I also got a decent deal of 11% and the processing charges was normal too.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2017
    • HDFC Bank Personal Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      I received calls from HDFC bank on my personal loan application and they informed me that my salary should be above 20k. Even then they collected all my documents and said they would call me regarding the loan process but it has been one week of time, still I did not receive any calls or messages from HDFC end. At the time when I submitted the application, I received good response from the bank.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2017
    • HDFC Bank Personal Loan
      "They should give clear into the application"
      0.5 3.0/5 "Satisfactory"
      I am not aware what is the reason my loan application got rejected. Even they didn't response on my loan, I was sending the documents for the loans but its was getting rejected. Finally I checked my credit score it is good and upto the mark, Still HDFC didn't give response on my loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 27, 2017
    • HDFC Bank Personal Loan
      "Be Customer Oriented"
      0.5 2.0/5 "Expected more"
      I preferred HDFC bank for the personal loan as I already taken the loan for 2 lakhs and have banking account with them. So when I applied for the personal loan this time, they said I had cheque bounce and they quoted the interest rate of around 16 to 17% which is too high also they provided the loan for 60000 to 70000 only. But when I applied with Axis bank the interest rate is 12.5% with the loan amount 3.2L. I am not happy with HDFC bank services. Also I had not received good customer service from HDFC.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 27, 2017
    • HDFC Bank Personal Loan
      "Good services"
      0.5 4.0/5 "Great!"
      My personal loan is from HDFC Bank and it was a very convenient process. I got the interest rate I was promised and there were no change in details. The disbursement happened on date I needed the funds. Overall a nice experience and the documentation was very minimal too.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 27, 2017
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      HDFC bank did not approve my personal loan. Actually I preferred HDFC for my financial requirement and I applied with them. Actually this was the bank for my salary account earlier, hence I submitted my application to them. Due to address verification they had approved they said. Customer service is kind of okay.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2017
    • HDFC Bank Personal Loan
      "So far so good"
      0.5 3.5/5 "Pretty good"
      I had applied for a personal loan with HDFC Bank through another channel and the loan got approved for the loan amount I was needing. The process was quick and the documentation what I submitted was accepted unlike the other banks who kept scrutinizing my papers for no reason.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2017
    • HDFC Bank Personal Loan
      "Easy to avail but interest rate is high"
      0.5 3.0/5 "Satisfactory"
      HDFC charged 18% of interest rate on personal loan, I have taken the amount of Rs.1.65 lakhs they taken 7900 rupees as processing fee. Due to an emergency purpose I have taken this loan for the period of three years, I already paid for two years, remaining one year have to pay.
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 27, 2017
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I got the personal loan with the HDFC bank as they have approved it very immediately like it got happened within two to three days of time, also that depends up on the customer. Rate of interest is somewhat okay for me like it was around 13.59% .
      Was this review helpful? 0
      , chennai
      Reviewed on May 26, 2017
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I got the personal loan with the HDFC bank and the interest rate is around 11.3%. Customer service and other aspects are good one with them. Response is good one and I got the loan amount within seven days of time. There are no processing charges by them.
      Was this review helpful? 0
      , chennai
      Reviewed on May 26, 2017
    • HDFC Bank Personal Loan
      "Satisfactory"
      0.5 3.5/5 "Pretty good"
      Experience was good and the process was done on time to time . Rate of interest charged was14.5% and processing fee was 16000 RUPEES the loan amount I have opted for 3 laks and I have received the whole amount, The draw back is that they don't give details break up for loan. Overall the process was fine.
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 26, 2017
    • HDFC Bank Personal Loan
      "Good experience with HDFC"
      0.5 5.0/5 "Blown Away!"
      HDFC loan process finished very fast, they gave me very good interest rate of 12% it is least in the market. My loan got disbursed within five days of time, I took the amount of 2.5 lakhs for the tenure of three years after one of locking period, I could do the part payment.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 26, 2017
    • HDFC Bank Personal Loan
      "Good experience with HDFC"
      0.5 5.0/5 "Blown Away!"
      HDFC loan process finished very fast, they gave me very good interest rate of 12% it is least in the market. My loan got disbursed within five days of time, I took the amount of 2.5 lakhs for the tenure of three years after one of locking period, I could do the part payment.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 26, 2017
    • HDFC Bank Personal Loan
      "Not up to the mark"
      0.5 3.0/5 "Satisfactory"
      I have asked HDFC to reduce the interest rate in concern to my personal loan application, but HDFC refused to reduce the interest rate that was the reason I can't proceed with the HDFC loan. The customer support and the response was good with HDFC bank.
      Was this review helpful? 0
      , kadapa
      Reviewed on May 26, 2017
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with ICICI Bank. I would say its a speedy process because when I applied for a personal loan I would say over all it was a good experiences. Rate Of Interest They have offered is 12% I have applied for 1.50 lakhs received 1.47 laksh in which 4k they have charged for processing fee and charges.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 26, 2017
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I was taken my personal loan with HDFC Bank. The documentation process has done smoothly, They disbursed my loan within 15 to 20 days. The Rate of Interest was16.5% and the processing charges is around 4000 rupees. Customer service and response was good.
      Was this review helpful? 0
      , udaipur
      Reviewed on May 26, 2017
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