HDFC Bank Personal Loan Interest Rates

⋆ Interest Rate 9.99% ⋆

      I have read the Privacy Policy & Agree to Terms & Conditions

      Why us?

      Rates as low as 9.99%*
      Loans Up to 30 Lacs
      Same Day Disbursal
      Doorstep Service
      Unbiased Experts Advice

      HDFC Bank Personal Loan Interest Rates

      HDFC Bank Personal Loan Interest Rates Key Features

      HDFC Bank Personal Loan Interest Rates 10.75% to 21.50% p.a.
      HDFC Bank Personal Loan 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
      Minimum Salary/Income 15,000 onwards (Rs. 20,000 in Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Cochin)
      Minimum 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 the outstanding principal balance

      25-36 months: 3% of outstanding principle

      Above 36 months: 2% of the outstanding principle

      Overdue EMI Interest 2% per month on EMI

      Advantages of HDFC Bank Personal Loan Scheme

      • HDFC bank provides its regular customers with the loan amount within 10 seconds after getting the loan approved and new customers within 4 hours of their loan application getting approved.
      • The applicant can choose the repayment tenure as per their suitability.HDFC Bank Personal Loan Interest Rates
      • HDFC’s personal loan EMI’s are affordable and easy to pay.
      • The applicant can opt for a Fixed HDFC Bank Personal loan Interest Rates where the set interest rate on the personal loan will not change and you can pay a fixed amount for interest for the whole tenure of the loa.
      • The applicant can also choose for Floating HDFC Bank Personal loan Interest Rates where the interest rate will according to the bank’s norms and interest payments will have variability.
      • To Avail Personal Loan through HDFC, the applicant does not require to have a guarantor or to provide security.
      • HDFC offers personal loans to salaried individuals. The Personal Loan Interest Rate for each applicant is based on how good the credit score is!

      Factors affecting HDFC Bank Personal Loan Interest Rates

      Profile

      The applicant’s profile is a very important criterion that can affect the interest rate of the loan both ways. If the applicant has properly managed and presented their financial documents, credit history and previous loan behaviour, the interest rate may reduce while a poorly managed profile can either attract more interest rate or can reject the loan application.

      Here, the applicant’s age also plays a very important role.

      Loan Tenure

      HDFC’s personal loan tenure ranges between 1 year to 5 years. Though an applicant applying for a short term loan may need to pay higher interest rates when compared to long term loans.

      Repayment Capability 

      HDFC bank considers repayment capability big criteria for approval of the loan. Mainly, the applicant’s income, assets and creditworthiness are looked into before the bank offers a rate for the loan. A CIBIL score gives a very detailed analysis of repayment capacity and thus it is crucial to maintain a full-fledged CIBIL score with a credit score that is not less than 750.

      Relationship With The Bank

      HDFC offers very decent offers, interest rates and low charges to applicants already holding an HDFC account. Women are also offered special loan named “HDFC Bank Personal Loan Diva”

      Applicants may even get discounts on the processing charges or reduced interest rates to those who have continued to make their payments on time in the past.

      HDFC Bank Personal Loan Fees and Charges

      Common Charges:

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

      Applicants with Income of Rs.25,000 Per Month: 

      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.)
      Month 1 Rs.15,336 Rs.3,000 Rs.18,336 Rs.1,84,664
      Month 2 Rs.15,566 Rs.2,770 Rs.18,336 Rs.1,69,098
      Month 3 Rs.15,800 Rs.2,536 Rs.18,336 Rs.1,53,298
      Month 4 Rs.16,037 Rs.2,299 Rs.18,336 Rs.1,37,262
      Month 5 Rs.16,277 Rs.2,059 Rs.18,336 Rs.1,20,985
      Month 6 Rs.16,521 Rs.1,815 Rs.18,336 Rs.1,04,464
      Month 7 Rs.16,769 Rs.1,567 Rs.18,336 Rs.87,695
      Month 8 Rs.17,021 Rs.1,315 Rs.18,336 Rs.70,674
      Month 9 Rs.17,276 Rs.1,060 Rs.18,336 Rs.53,398
      Month 10 Rs.17,535 Rs.801 Rs.18,336 Rs.35,863
      Month 11 Rs.17,798 Rs.538 Rs.18,336 Rs.18,065
      Month 12 Rs.18,065 Rs.271 Rs.18,336 Rs.0

      Applicants with Income of Rs.50,000 Per Month:

      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.)
      Month 1 Rs.15,552 Rs.2,500 Rs.18,052 Rs.1,84,448
      Month 2 Rs.15,746 Rs.2,306 Rs.18,052 Rs.1,68,702
      Month 3 Rs.15,943 Rs.2,109 Rs.18,052 Rs.1,52,759
      Month 4 Rs.16,142 Rs.1,909 Rs.18,051 Rs.1,36,617
      Month 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 Bank Personal Loan Eligibility Criteria

      Everyone who can clear the following criteria can apply for HDFC Personal Loan

      1. Age Range: Applicants aged between 18 years – 65 years.
      2. Nationality: The applicant should be a resident of India.
      3. The applicant should be a salaried or self-employed individual.

      HDFC Bank Personal Loan TopUp Loan

      Existing customers who require additional findings can opt for HDFC Bank personal top-up loan. The applicants can top-up their loan up to Rs.50 lakh or up their existing loan amount, whichever is lower. HDFC offers personal loan top-up interest rates between 9.15 % p.a. to 9.65 % p.a. and the tenure is subject to that of the existing loan.

      HDFC Bank Personal Loan Balance Transfer

      Customers who want lower interest rates on their existing personal loans can always choose the HDFC Bank personal loan balance transfer from another financial lender. Transfering their personal loan balance to HDFC Bank is easy and simple and customers will be offered interest rates as low as 11.49% and will be charged a processing fee of Rs.3,499.

      HDFC Bank Personal Loan Interest Rates FAQ

      ✅What are the HDFC Bank personal loan interest rates?

      HDFC Personal Loan Interest Rates for salaried individuals applying are between 10.75% p.a. to 21.50% annually.

      ✅Can I close HDFC Bank personal loan before 1 year?

      One cannot foreclose HDFC Bank personal loan account before payment of 12 EMIs.

      Is it possible for non-HDFC customers to apply for a personal loan from HDFC Bank?

      Yes, it is possible if you meet all the Eligibility criteria for Personal Loan required to avail the loan.

      How to check HDFC Bank personal loan balance?

      You can call on 9878981166 and Dialabank will provide you with the necessary details right away.