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HDFC Bank Personal Loan Interest Rate 2021

Following is an overview of HDFC Bank Personal Loan Rate of Interest  and associated fees and charges.

FeeAmount to be Paid
Interest RateSalaried - 11.25% to 25.26%
Loan processing charges2.50% of the principle loan amount and subject to a minimum of Rs.1000 and maximum of Rs.25000
PrepaymentSalaried - No pre-payment permitted until repayment of 12 EMIs
Pre-payment chargesSalaried - 13-24 Months - 4% of Principal Outstanding, 25-36 Months - 3% of Principal Outstanding> 36 Months - 2% of Principal Outstanding
No Due Certificate/No Objection Certificate (NOC)NIL
Duplicate of No Dues Certificate/NOCNIL
Solvency CertificateNot applicable
Overdue EMI interest2% on EMI per month
Charges for changing from fixed to floating rate of interestNot applicable
Charges for changing from fixed to floating rate of interestNot applicable
Stamp duty & other statutory chargesAs per applicable laws of the state
Credit assessment chargesNot applicable
Cheque swapping chargesRs 500/-
Amortization Schedule chargesRs 200/-
Loan cancellation chargesNIL (However client would be charged interest for the interim period between date of loan disbursement and loan cancellation and processing fees would be retained.)
Cheque bounce chargesRs. 550/- per cheque bounce
Legal/incidental chargesAt actual


The above interest rates and other charges are subject to periodic review. The final pricing will be based on your income, loan amount, loan tenure, and the bank’s internal policies and the applicable rates at the specific time.

Features and Benefits of HDFC Bank Personal Loans

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

Factors that impact your HDFC Bank Personal Loan interest rate

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 important factors that play an important role in determining your interest rate on a personal loan.

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 it will cost you in terms of a higher interest rate - or loan rejection which will damage your score further.


Lenders are willing to offer a personal loan at low interest rate when you have better repaying ability. Hence your income plays a crucial 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 than a self-employed individual.

Relationship with the lender

If you are already an existing customer with HDFC Bank, you will get a better interest rate on a personal loan than a non-HDFC Bank customer. The bank considers the 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.

How to calculate Interest/EMI on HDFC Bank Personal Loan

You can use HDFC Bank’s personal loan EMI calculator to easily calculate your monthly EMI outflow instantly and accurately. Manually calculating your EMI can be tedious and tiresome and prone to error. The EMI calculator will calculate your total payable amount, your monthly payment and the total payable interest. You can use the online personal loan EMI Calculator to arrive at the EMI in line with your monthly budget.

There are several ways of applying for an HDFC Bank personal loan:

  • You can apply directly online at the HDFC Bank’s website
  • You can go in person to your nearest branch with the required documents
  • You can contact the customer care department of HDFC Bank

Need help with advice on eligibility and on which loan offer suits you the best?

If you want to apply for a personal loan with the lowest interest rates as applicable to your unique credit profile, CreditMantri can guide you through the entire application process and match you with the loan offer best suited to your credit needs.

HDFC Bank Personal Loan Status

Once HDFC Bank receives a completed application form along with the necessary supporting documents, it determines whether you are eligible for a personal loan. If you are found eligible, you will get an approval for a specific loan amount based on your criteria, requirement, and repayment capability. You can check the status of your HDFC Bank personal loan online using your application number or call up the customer care for help with tracking your loan status.

HDFC Bank Personal Loan Interest Rate FAQs

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

The interest rate on HDFC Bank personal loan starts from 11.25% onwards.

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

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

3. What are the modes of payment available to 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 depends the bank’s lending policies and is influenced by your eligibility, income, nature of 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.

Hdfc Bank Personal Loan Interest Rate - Customer Reviews

4 / 5 (10 Reviews)
28 Oct 2020

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