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% - 19.8% Fixed
    Up to 2% One time fee
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Paperless approval available
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    Customer Reviews
    HDFC Personal Loan Interest Rates is Rated as "Great!" by 13202 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.

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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
    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.
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  • HDFC Personal Loan Interest Rates Reviews

    • HDFC Bank Personal Loan
      "Not satisfied"
      0.5 5.0/5 "Blown Away!"
      With HDFC bank, i have applied for a personal loan. The loan amount which the bank required was 2 lakhs. The tenure which the bank in need of was for three years which i was not satisfied with so i cancel the application with HDFC bank. I am not satisfied with the service of HDFC.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "Approachable bank"
      0.5 4.5/5 "Excellent!"
      HDFC bank provide me the personal loan with 11.39% rate of interest. It just taken one week to disburse the loan amount. The total amount i received from bank was 3.94 lakhs were they deducted the processing fees and the GST. I had a negotiation to reduce the RIO from 12 to 11.39%. At last they gave me for the same.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "Approachable bank"
      0.5 3.0/5 "Satisfactory"
      I had a requirement for a personal loan and i put up an inquiry with HDFC bank.They response was bit delayed and later my requirement was fulfilled from my own end. So i closed the application with HDFC bank. Service wise i always prefer hdfc bank.
      Was this review helpful? 0
      , delhi
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "High interest rate"
      0.5 3.0/5 "Satisfactory"
      With HDFC BANK i have taken a personal loan. The disbursed loan amount is 1 lakh 70 thousand with a rate of interest of 16 to 18%, that was too high for me. Two years back i closed that loan. The tenure is for 3 years with an EMI of 4500.
      Was this review helpful? 0
      , angul
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "Friendly service"
      0.5 5.0/5 "Blown Away!"
      From HDFC BANK i have taken a personal loan for 1 lakh 40 thousand. The monthly EMI is 47851 for 36 months. It just taken a week to approve my loan amount The processing fee that they charge me was 4000.They gave me good service and response. I can recommend this bank for personal loan to anyone.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "Good. Need to be more quick in the process"
      0.5 4.0/5 "Great!"
      HDFC Bank was good but there was a delay in the process. After the submission of documents, I got the personal loan after 12 days. I had to take the initiative and follow up with the executive for an update. The interest rate and processing charges is normal.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      There were no issues with HDFC Bank for the personal loan. I got the loan on time and the process was also very convenient and easy. I got the interest rate was of 11.1% and the processing charges was normal. The after loan services is also great.
      Was this review helpful? 0
      , faridabad
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      Experience with the HDFC BANK was an average one and even the service provided by them was the same. Too many wrong information was given to me and it was about the rate of interest . Firstly the executive called said that it was about 14% where as I saw it was around 10.99% lastly even the customer service was not that good .
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "IT WAS OK ."
      0.5 4.0/5 "Great!"
      The experience and the service which I received from the bank was kind of OK . The bank delivered the information and contacted in a better way . My credit score was a showing a down flow of rupees 1860 i didn't pay some EMI after that they said we will recheck and come back to you and after that they never called back and it got cancelled .
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      HDFC Bank processed my personal loan on time. I got the funds and the person came to my house and collected my documents. The interest rate and processing charges are good, not excellent. The after loan services are good and in all I was at ease.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "Best"
      0.5 4.0/5 "Great!"
      Rate of interest for the personal loan with the HDFC bank was around 13.5%, also am very well satisfied. I got the loan amount in ten days of time from the time, when I have applied. I would like to say that everything went in the good way.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "Satisfied"
      0.5 4.0/5 "Great!"
      Interest rate was okay for me with the HDFC bank for the personal loan. It took almost a week to get the loan. I have really felt that their customer service and other things are really fine one with the HDFC bank.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The customer service of HDFC bank has told me that I got low credit score so that was the reason I haven't processes with the HDFC bank. The customer service of HDFC bank is good, they gave good response to the customers. The rate of interest is average with HDFC bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 21, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I haven't got the loan from HDFC bank, because the document are not ready with me , so the executives were asking to submit the salary slips so that was the reason I haven't got the personal loan from HDFC bank. The rate of interest is high with HDFC bank.
      Was this review helpful? 0
      , kottayam
      Reviewed on Sep 21, 2017
    • HDFC Bank Personal Loan
      " Good Experience"
      0.5 4.0/5 "Great!"
      HDFC Offered me 14.5% of interest for the personal loan, I took the amount of Rs.85,000 totally tenure would be 36 months, now 31 months got completed yet to pay remaining five months. HDFC charged very less processing fee. I am satisfactory with them.
      Was this review helpful? 0
      , khammam
      Reviewed on Sep 21, 2017
    • HDFC Bank Personal Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      The HDFC bank customer support gave a call and explained me about the product and they collected the documents as well and they haven't gave any response after the documentation, that was the reason I haven't got the loan with HDFC bank , The Rate Of Interest is high when compared with others.
      Was this review helpful? 0
      , panaji
      Reviewed on Sep 21, 2017
    • HDFC Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      In the beginning the customer service was good with HDFC bank they gave better response initially but later they haven't gave any kind of response in regards to my personal loan application,so that was the reason I haven't got the loan with HDFC bank.The rate of interest is nominal with HDFC bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 21, 2017
    • HDFC Bank Personal Loan
      "Perfect Banking"
      0.5 5.0/5 "Blown Away!"
      With HDFC bank i have taken a personal loan and that experience gave me immense pleasure. That was really a tension free approach. Once i requested for the loan the sanctioned the loan amount of 1 lakhs with rate of interest 11%. The monthly EMI is 3556 for 36 months.
      Was this review helpful? 0
      , aurangabad
      Reviewed on Sep 21, 2017
    • HDFC Bank Personal Loan
      "Poor response"
      0.5 5.0/5 "Blown Away!"
      Already i have a previous experience in taking a personal loan with HDFC BANK. So i applied for a personal loan again. But this time i got a very disappointing service from HDFC. They did not even responded to my application. Other than that i am happy with their service.
      Was this review helpful? 0
      , aurangabad
      Reviewed on Sep 21, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The HDFC bank executive have told that my credit score is low to process with my personal loan application so that was the reason I haven't proceeded with the HDFC bank personal loan. The rate of interest which they have offered was nominal when compared with other banks .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 21, 2017
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