HDFC Personal Loan Interest Rates

The HDFC Bank offers a personal loan to its customers or borrowers who require immediate funds to meet their immediate requirements. The interest rates for personal loans with HDFC Bank start at 10.75% and it has special rates for special customers and salaried employees working with reputed companies.

The factors that affect the personal loan interest rates at HDFC Bank are:

• The total amount which is borrowed by the applicant.
• Repayment tenure of the loan.
• HDFC’s internal list of reputed companies falls into categories sequenced from high to low based on the size of the company, reputation, and goodwill of the company.
• Borrower’s relationship with the bank.
• The net monthly income of the borrower.
• Repayment capacity of the borrower through CIBIL.
• The HDFC Bank also offers Personal Loans to defense, government employees, and armed forces. The interest rates for these individuals differ from that of other applicants.

• HDFC Bank offers personal loans at lower interest rates for salaried as compared to self-employed individuals.
• The rate of interest for a Personal Loan with HDFC Bank is 10.75%.
• HDFC personal loan rates of interest are fixed in nature and do not change according to the fluctuations in the financial market.
• Floating interest rates do not apply to HDFC Personal Loans.

Apart from the rate of interest, many other charges are levied by the HDFC Bank on a Personal Loan.

• Processing fees: HDFC personal loan processing fee is up to Rs. 4,999 with GST.
• Overdue EMI interest: 2% per month on EMI per principal overdue.
• Cheque bounce charges: Rs. 550 per instance
• Cheque swapping charges: Rs. 500
• Amortization schedule charges: Rs. 200

• 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.
• The floating interest rate will change as per the change in the bank’s base lending rate.
• To avail an 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 individuals and they offer the interest rate based on the applicant’s credit score.

• Identity proof - A copy of any one of the below-mentioned documents:
  • Passport
  • Voter ID Card
  • Driving License
  • Aadhaar 
• Address proof - A copy of any one of the below-mentioned documents:
  • Passport
  • Voter ID Card
  • Driving License
  • Aadhaar
• Bank statements for the last 3 months 
• Passbook of previous 6 months
• 2 recent salary slips or current dated salary certificate 
• Latest Form 16

If you wish to lower the interest rate on your existing personal loan availed from another bank, you can opt for the HDFC Bank personal loan balance transfer option. On transferring your loan balance to HDFC Bank, you can avail of an interest rate of as low as 10.75%. You will have to pay a flat processing fee of up to Rs. 4,999 or up to 2.5% of the loan amount.

You can connect with HDFC through the following ways:

Toll-free Number: 1800 258 3838 (open from 8 a.m to 8 p.m on all days)

Mailing Address

HDFC Bank Ltd., New Bldg, "A" Wing 2nd floor,
26-A Narayan Properties, Chandivali Farm Road,
Off Saki Vihar Road, Chandivali,
Andheri (East), Mumbai- 400 072