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HDFC Personal Loan Interest Rates

HDFC Personal Loan Interest Rates are competitive and vary between 10.5% to 21%. So, the EMIs are quite affordable and allow you to save money. Existing customers can also avail discounts on the interest rates offered on HDFC personal loans. However, interest rates depend on factors such as credit score, income, job stability, and loan amount.

HDFC Bank Personal Loan Interest Rates 2023 Versus Other Banks - A Comparison

Name Rate


10.50% onwards


10.50% onwards

Kotak Mahindra Bank

10.99% onwards

IDFC First Bank

10.49% onwards

IndusInd Bank

10.49% onwards

Axis Bank

10.49% onwards

Tata Capital

10.99% onwards

DMI Finance

12.00% to 40.00%

Bajaj Finser

11.00% onwards

Federal Bank

11.49% onwards


12.25% to 30.00%


27.00% onwards

Aditya Birla

13.00% onwards


15.96% onwards

Piramal Finance

12.99% onwards


12.96% onwards

Key Features of HDFC Personal Loan Interest Rates

  • When the interest rate is fixed, and you have to pay a fixed amount of interest throughout the duration, it is called fixed interest rate
  • HDFC Bank personal loan interest rates depend on many factors like credit score, income, existing relationship with the bank etc.
  • Floating rate of interest changes according to the changes in the bank’s base lending rate
  • Keep in mind that the floating rate of interest will go up when the repo rate goes up before choosing this type of interest rate

What Are The Factors Impacting HDFC Bank Personal Loan interest rates

Not all the personal loan applicants with HDFC Bank will receive the same interest rate. The rates are determined by various factors. Following are the factors that play an important role in determining your interest rate.

Credit Score: Having a good credit score will help you get the best interest rates and enables you to access credit effortlessly. If you have a poor credit score, it is not entirely impossible to avail a loan, but the interest rate will be high.

Income: Lenders are willing to offer a personal loan at a low interest rate when you have better repaying ability. Hence your income plays a crucial role in determining the interest rate. Higher your income, lower will be your interest rate on a personal loan.

Reputed Employer: Working in a reputed organisation can certainly get you a good deal on your personal loan.For lenders, a reputed employer means a better job stability. If you are working in a company that is listed by the bank, chances are higher that you will get a better interest rate. A salaried employee will get a different rate of interest as compared to a self-employed individual.

Relationship with the lender: Existing customers of HDFC Bank get a better interest rate on HDFC personal loans. As compared to non-HDFC bank customers. The bank considers existing customers as reliable candidates for a personal loan. Hence the rate of interest will be lower. Moreover, the time taken to process the loan is also shorter than the new customer who may have to go through a lengthy documentation process.

Loan tenure: Loan amount is an important factor determining the amount of loan borrowed. Higher the loan amount borrowed, higher the interest rate

Borrowing Category: HDFC Bank also gives personal loans to government employees, armed forces, and defense. The interest rates for these individuals vary from that of other applicants. The interest rates also differ between salaried and self-employed individuals.

The interest rates may be subject to change depending on the sole discretion of the bank.

How To Compute HDFC Personal Loan Interest?

There are two ways in which you can compute the HDFC personal loan interest. One is the formula method, and the other one is using the personal loan EMI calculator.

Let us understand with an example:

Example: Suppose Mr. A takes a loan for Rs. 50,000 at an interest rate of 10% for 12 months, then the interest paid per month and the monthly EMIs can be computed easily by using an EMI calculator. All you have to do is to enter the loan amount, interest rate, and the tenure and the calculator will display the interest paid every month, the monthly EMIs and the outstanding balance after every month.

Paid (X)Paid (Y)Payment (X+Y)loan Balance


Rs. 20,231

Rs. 1,749

Rs. 21,980

Rs. 29,769


Rs. 3,979

Rs. 417

Rs. 4,396

Rs. 46,021


Rs. 4,012

Rs. 384

Rs. 4,396

Rs. 42,008


Rs. 4,046

Rs. 350

Rs. 4,396

Rs. 37,962


Rs. 4,080

Rs. 316

Rs. 4,396

Rs. 33,883


Rs. 4,114

Rs. 282

Rs. 4,396

Rs. 29,769


Rs. 29,768

Rs. 1,001

Rs. 30,769

Rs. 0


Rs. 4,148

Rs. 248

Rs. 4,396

Rs. 25,621


Rs. 4,182

Rs. 214

Rs. 4,396

Rs. 21,439


Rs. 4,217

Rs. 179

Rs. 4,396

Rs. 17,221


Rs. 4,252

Rs. 144

Rs. 4,396

Rs. 12,969


Rs. 4,288

Rs. 108

Rs. 4,396

Rs. 8,681


Rs. 4,324

Rs. 72

Rs. 4,396

Rs. 4,357


Rs. 4,357

Rs. 36

Rs. 4,393

Rs. 0

Loan Amount : Rs. 50,000

Total Interest Due: Rs. 2,750

Processing Fee:Rs. 0

Total Amount Payable: Rs. 52,750

HDFC Bank Personal Loan Interest Rates on Top-up Loans

Sometimes customers may need additional funds to supplement the amount offered through a personal loan. To meet this need, they can avail of the HDFC Top up loan facility. Customers can top up their loans up to Rs. 50 lakhs or up to their existing loan amount, whichever is lesser. The interest rate given on the HDFC top up personal loan ranges between 9.15 % p.a. to 9.65 % p.a.. The tenure depends on the duration of the existing loan.

What Are The HDFC Bank Personal Loan Balance Transfer Interest rates?

If you wish to lower the interest rates on your current personal loan, you can choose to transfer your personal loan to HDFC Bank from another lender. The interest rates on balance transfer is as low as 11.49% and there will be a process fee of Rs. 3,499 levied.

How Can You Get HDFC Personal Loans At Lower Interest Rates?

  • Check whether the bank or NBFC with which you have an existing relationship is ready to give you a loan.
  • Check for offers on pre approved loans from banks or NBFCs
  • Maintain a good credit score of 650 or above
  • Shop around financial marketplaces and compare the interest rates on personal loans from various NBFCs or banks with HDFC personal loans. This way, you can choose the loan with the lowest interest rates
  • Always keep yourself updated of the personal loan interest rates offered by top banks/NBFCs
  • Look out for any holiday, festival, or seasonal offers from the bank.

HDFC Bank Personal Loans - Features and Benefits

  • Complete flexibility of end-use
  • Hassle-free online personal loan application
  • Simplified documentation
  • Quick processing and speedy disbursal.
  • Competitive interest rates
  • No guarantor or collateral is required to avail an HDFC bank personal loan
  • Special offers on interest rates and other fees for HDFC Bank account holders
  • Special personal loan offers for women employees
  • Walk-in loans and over-the-counter loans available
  • Doorstep service available
  • Simple HDFC Bank loan payment methods available including ECS and PDCs
  • Scrutinize your eligibility online on the HDFC Bank website
  • Tailor-made personal loans solutions across multiple categories
  • Transfer option for your existing personal loan

What Are The Fees and Charges Associated With HDFC Personal Loans?

to be Paid

Interest Rate

Salaried - 10.50% to 21.00%

Loan processing charges

Upto 2.50% of the loan amount subject to a minimum of Rs. 2,999 and a maximum of Rs. 25,000 for salaried customers.

Pre-payment charges

For the Salaried

Between 13-24 Months - 4% of Principal Outstanding

Between 25-36 Months - 3% of Principal Outstanding

Over 36 Months - 2% of Principal Outstanding

No Due Certificate/No Objection Certificate (NOC)


Duplicate of No Dues Certificate/NOC


Solvency Certificate

Not applicable

Overdue EMI interest

2% on EMI per month/principal overdue

Charges for converting from fixed to floating rate of interest

Not applicable

Charges for converting from fixed to floating rate of interest

Not applicable

Stamp duty & other statutory charges

As per applicable laws of the state

Credit assessment charges

Not applicable

Cheque swapping charges

Rs 500/-

Amortization Schedule charges

Rs. 200

Loan cancellation charges

Nil, but the client will be levied interest for the interim period between the date of disbursal of loan and loan cancellation. The processing fees will be retained.

Cheque bounce charges

Rs. 550/- per cheque bounce

Legal/incidental charges

At actual

FAQs About HDFC Personal Loan Interest Rates

1. What is the minimum interest rate on HDFC Bank personal loans?

The interest rate on HDFC Bank personal loans starts from 10.50% onwards.

2. What is the processing fee on HDFC Bank personal loans?

HDFC Bank charges up to 2.50% of the loan as processing fee, subject to a minimum of Rs.1000 and a maximum of Rs.25000.

3. What are the modes of payment available for me to repay HDFC Bank personal loan?

You can repay the loan through post-dated cheques, ECS or through a standing instruction to debit your HDFC Bank account with the EMI amount.

4. What is the minimum and maximum personal loan amount?

The loan amount is based on the bank’s lending policies and is influenced by your eligibility, income, nature of the job, and repayment capacity..

5. Do I need to provide collateral to secure HDFC Bank personal loan?

There is no requirement to provide any security or collateral of any sort.

6. Is the salary account from HDFC Bank useful to get a personal loan?

Yes, individuals with HDFC salary accounts benefit from lower interest rates and processing charges. Minimal documentation is required and you can set up an auto deduct instruction to automatically debit money from your account.

7. What is the current rate of interest on HDFC Bank personal loans?

The current rate of interest on HDFC Bank personal loans is 10.5% to 21%.

Hdfc Bank Personal Loan Interest Rate - Customer Reviews

4 / 5 (10 Reviews)
28 Oct 2020

Website/app interface,Credit Report Analysis,Usefulness of information,Call Experience,Ok Goodd

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