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Compare HDFC Bank Personal Loan

HDFC Bank Personal Loan

HDFC Bank | Personal Loan

HDFC Bank Ltd. is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It has a base of 104154 permanent employees as of 30 June 2019. HDFC Bank is India's largest private sector lender by assets. It is the largest bank in India by market capitalisation as of March 2020.

Each partpayment shall not exceed 25 % of the principal Outstanding

Annual Percentage Rate (APR): 11.25 % - 18 %

Minimum & Maximum period for repayment (Loan Tenure): 60 months

Loan processing charges: upto 2.5 %

Late Payment: Allowed after 12 EMI's, 2 - 4%

Foreclosure Charges: 2% per month on EMI/Principal Overdue

Partpayment Charges: Allowed after 12 EMI's, 2-4%

Maximum Loan Amount: 50 lakh


HDFC Bank Profile

Sector : Finance
Industry : Regional Banks

HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank's segments include Treasury, Retail banking, Wholesale banking and Other banking business. The Treasury segment primarily consists of net interest earnings from the Bank's investment portfolio, money market borrowing and lending, gains or losses on investment operations and on account of trading in foreign exchange and derivative contracts. The Retail Banking segment serves retail customers through a branch network and other delivery channels, as well as through alternative delivery channels. The Bank provides its corporate and institutional clients a range of commercial and transactional banking products. The Other banking business segment includes income from para banking activities.

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EMI Calculator

Loan EMI

\u20b9 1,24,797

Total Interest Payable

\u20b9 34,90,279

Total of Payments
(Principal + Interest)

\u20b9 59,90,279

About Personal Loan

A personal loan is a good way to address short term loan requirements. Whether you want to match a medical emergency, wedding expenses, travel expenses or home makeover, you can get an instant cash loan for any sort of need. Besides being cost-effective, they give an additional advantage as to secure them, you don't need to pledge any kind of your valuables. This is the reason that most of the borrowers admit personal loans as the best way to get an instant loan in India.

Eligibility & Documents Required

Any individual who is an Indian citizen or national and has residual income qualifies for the personal loan. By design Personal Loans are unsecured loans and therefore an applicant does not have to worry about furnishing paperwork related to collateral. For getting a personal loan, you need to fulfill certain parameters as a part of the eligibility criteria.

Documents for salaried individuals

  • Identity proof:- Any one of Aadhaar Card / Voters ID / Passport / Driving License / PAN Card.
  • Residential proof:- Any one of Leave and License Agreement / Utility Bill (maximum three months old) / Passport.
  • Salary Slips:- Salary slips for last three months along with bank statement showing salary is being credited.
  • Employment certificates:-2-year Employment continuity document.
  • Photographs:- Two passport size photographs.

*Note:- The required documents may vary from institution to institution. Every lending entity has their own criteria for documentation.

Personal Loan Eligibility

Age - 18/21 years - 60/65 years
Employment Type - Salaried/Self-Employed
Minimum Net Income (monthly) - ₹15,000
Work Experience - Salaried for at least 6/12 months or Self-Employed for at least 3 years
Tenure: (Min) 3 to (Max) 60 months
Interest Rate ranging from 10.75% to 25% depending on customer’s credit and risk profile

Representative Example

With a representative 10.75% APR based on borrowing ₹ 10 lacs and repaying over 60 months with 60 monthly repayments, the monthly repayments will be ₹ 21,618 which can be paid within a tenure of 12-60 months.

*Please note the processing fee can vary from 1.5% - 6%. The figures provided are indicative and subject to change from time.

EMI Calculator

The simple and handy loan EMI calculator lets you easily calculate EMIs. All you need to do is enter the loan amount, interest rate and loan tenure, and you will know the convenient and easy EMIs basis the inputs entered.

Sample Loan Calculation:

Loan amount: INR 4,00,000
Interest Rate: 15% p.a.
Loan Duration: 3 years
Total Interest = INR 99,176
Processing fees (PF) + GST= 4000 + 720 = INR 4,720

In Hand Amount: Loan Amount - Total Deductibles = 4,00,000 - 4,720 = INR 3,95,280
Total repayable Amount: INR 4,99,176
Monthly EMI Repayable: INR 13,866
*Deductibles are deducted upfront during the loan disbursal.

HDFC Bank Loan Interest Rates

HDFC Bank ROI Max Loan Amount Tenure Processing Fee Late Payment Foreclosure Charges Partpayment Charges
Business Loan 15.65% Max upto Rs. 50 Lakhs 12 months to 48 months upto 2.50% of loan amount No pre-payment permitted until repayment of 6 EMIs 2% per month on EMI Not Allowed
Home Loan 8.80% Depend on Applicant Profile 30 years 0.5% of loan amount or Rs 3,000 whichever is higher, plus applicable taxes Nil upto 24% annually Nil
Personal Loan 11.25 % - 18 % 50 lakh 60 months upto 2.5 % Allowed after 12 EMI's, 2 - 4% 2% per month on EMI/Principal Overdue Allowed after 12 EMI's, 2-4%
Car Loan 8.25% - 14.26% (Avg 9.40%) Valuation of car upto 7 years Rs. 10,000 or 0.4% of car loan sanctioned 3% to 6% depending on loan tenure 2% each month 5% on the part payment amount in case part prepayment is within 13-24 months from 1st EMI
Education Loan 12.13% upto 10 lakh 15 years Maximum upto 1% of the loan amount upto 4% of the Outstanding Balance prepaid 24% per annum on outstanding amount from the default date onwards N/A
Please Note*: The figures provided in the table above are indicative only and are subject to change from time to time.

Compare Personal Loan Interest Rates

Personal Loan ROI Max Loan Amount Tenure Processing Fee Late Payment Foreclosure Charges Partpayment Charges
Tata Capital 11.75% 20 lakh 60 months 2.5% + GST No foreclosure in first 6 months, 4.5% + GST 3% on Overdue Amount per month + GST Allowed after 6 EMIs, Nil prepayment charges
Kotak Mahindra Bank 10.99% - 18% 15 lakh 60 months 2.5 % + GST After 12 months, 5% foreclosure charges + GST 3% p.m compounded monthly on the Amount due Not allowed
Bajaj 11.99% 25 lakh 60 months 2% 4% foreclosure charge plus applicable taxes on principal outstanding N/A 2% part-prepayment charge plus applicable taxes
RBL Bank 13.99% 20 lakh 60 months 2.5% + GST 13-18 Months: 5%, >18 Months: 3% foreclosure charges 24 % p.a on amount outstanding from date of default Not allowed
Bank of Baroda 11.35% - 16.35% 10 lakh 4 years 2% Allowed after 1 EMI's, Nil prepayment charges N/A Allowed after 1 EMI's,
ICICI Bank 11.25% 30 lakh 60 months 2.25 % + GST 5% per annum of principal outstanding plus GST 24 % p.a on amount outstanding from date of default Not allowed
IndusInd Bank 11.25% 25 lakh 60 months 2.5% + GST Allowed after 12 EMI's, 4% Rs 150/- plus taxes, Per EMI delay beyond 5 days Not allowed
HDFC Bank 11.25 % - 18 % 50 lakh 60 months upto 2.5 % Allowed after 12 EMI's, 2 - 4% 2% per month on EMI/Principal Overdue Allowed after 12 EMI's, 2-4%
IIFL 13% 25 lakh 12 months to 60 months 2% + GST upto 6% 2% compounded annually Not allowed
Please Note*: The figures provided in the table above are indicative only and are subject to change from time to time.