Multiple banks. Different interest rates. Call it a "conflict of interest".
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
    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 14229 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 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 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:

    Year Principal 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 service"
      0.5 5.0/5 "Blown Away!"
      The banking service is good with the HDFC bank. They have disbursed the loan amount within a week time. The required loan amount was not disbursed they have disbursed only 50% of the required loan amount. The rate of interest and the charges were nominal when compared with others.
      Was this review helpful? 0
      , guntur
      Reviewed on Jan 17, 2018
    • HDFC Bank Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I had taken my personal loan with HDFC Bank through online channel. I am very much satisfied with the rate of interest. I have to pay monthly 6000 rupees through ECS. The executive came to my place and collected all the documents. The part payment and pre closure option is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2018
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The personal loan service was good with the HDFC bank and they have give the loan amount within 15dauys of time. There was an clarification in the documentation process , so that was the reason they took time. The required loan amount has been given .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The overall personal loan service was good with the HDFC bank and they gave better response in regards to my loan application. They have disbursed my loan amount within 15days of time. The customer support was good with the HDFC bank. The rate of interest and the charges are quite high when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2018
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have my personal loan with HDFC bank for about 8 months. The loan amount was 9 lakhs and the interest rate was 11.29% which was satisfactory . The tenure period was 5 years. The loan process was very good and the processing fee was nominal.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 17, 2018
    • HDFC Bank Personal Loan
      "Better"
      0.5 3.0/5 "Satisfactory"
      I have closed the personal loan with the HDFC bank. The rate of interest was around 12.99% at that time. I would like to say that the customer service was a good one with them and the response was good too. Within a week of time, the loan amount was disbursed.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2018
    • HDFC Bank Personal Loan
      "Excellent service but need to work on their interest"
      0.5 4.0/5 "Great!"
      The HDFC bank was prompt with their personal loan service. They have disbursed the loan amount within a week time. The customer support service was good with the HDFC bank. The rate of interest was quite high when compared with others. The required loan amount has been disbursed and I am satisfied with it.
      Was this review helpful? 0
      , pune
      Reviewed on Jan 17, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Got the personal loan from HDFC bank around a year ago and they have approved the loan amount of Rs,85,000 and I am satisfied with it. The customer support service is good with the HDFC bank. Their interest rate and the charges are average when compared to others.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 16, 2018
    • HDFC Bank Personal Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The response of HDFC bank was very good and they give importance to the customers. The documents has been submitted through online net banking services. The customer support service is good with the HDFC bank. The required loan amount has been given and I am satisfied with it.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 16, 2018
    • HDFC Bank Personal Loan
      "Need to change the policies"
      0.5 3.0/5 "Satisfactory"
      The rate of interest and charges are kind of high with the HDFC bank personal loans when compared with others. The customer support service is average with the HDFC bank. The loan process took around a month's time but I was expected the disbursement within a week or 10days of time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 16, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My Personal loan application was approved with HDFC bank and the experience was quite good. The loan amount i requested for was for Rs 5 lakhs but it was approved only for Rs 3 lakhs. When it comes to customer service, it was good and they responded on time. Documents were submitted online and i received my loan amount within 1 week. The rate of interest is 10.99% which is nominal rate. The processing fees was nominal and the tenure of the loan is 5 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 15, 2018
    • HDFC Bank Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience was very much satisfactory with HDFC Bank. The customer service and response was awesome. The rate of interest normal and they charged a processing fee. I have taken 3,63,000 rupees. The tenure period is 5 years.
      Was this review helpful? 0
      , mohali
      Reviewed on Jan 12, 2018
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am running a personal loan with HDFC Bank. The interest rate was okay when compared with others. The customer service and response was excellent. The minimum waiting time is 10 min to connect with the customer care. The executive came to my place and collected the documents at my door steps.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 12, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It was a good experience with HDFC Bank . They offered a good interest rate for my personal loan. The customer service and response was not completely satisfactory. The documentation process was very simple and the executive helped me a lot. The payment option was convenient and am paying through net banking.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 12, 2018
    • HDFC Bank Personal Loan
      "Average"
      0.5 1.0/5 "Really Bad"
      I am having the personal loan with the HDFC bank and the rate of interest is around 14.5%, which is too higher. And the customer service is good one for me. I would like to say that the response is fine one for me with the HDFC bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 12, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I had taken 2L as a personal loan with HDFC Bank recently. The rate of interest was good and they charged processing fee separately. They took more time to disburse the loan. The documents are collected by the executive at doorstep. I have to pay 7,000 rupees as an EMI.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Jan 12, 2018
    • HDFC Bank Personal Loan
      "Good Bank"
      0.5 5.0/5 "Blown Away!"
      It was a good experience with HDFC Bank. The rate of interest was little high. I took a personal loan of 2,00,000. The duration period is 3 years. I am paying monthly 6,994 rupees through ECS. The customer service and response was good with HDFC.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 12, 2018
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had closed my personal loan with HDFC Bank before 7 months. It was a good experience. I got very good response from the customer support. The interest rate and processing fee was less with HDFC. I made the payment through ECS which was easy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 11, 2018
    • HDFC Bank Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience with HDFC bank was good, they provided very good services and there was no delay in their response. The loan amount was for Rs 1.81 lakhs with the rate of interest of 9% which is less when compared to all other banks. The process was very quick and the loan amount was transferred to my account within 5 minutes. The tenure of this loan is 5 years and it was overall a good service from HDFC bank
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 11, 2018
    • HDFC Bank Personal Loan
      "Good response"
      0.5 4.0/5 "Great!"
      I have an ongoing personal loan with HDFC Bank. It was taken 4 months back and the actual tenure period is 5 years. They disbursed the loan within 2 days. I had received a good response and they provided a faster service. Though I work in IBM but my name was not listed in the IBM payroll so am not able to get the corporate interest rate. They offered me 13.5% interest rate.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 11, 2018
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