Personal Loan Interest Rates and Fees
Save Big with HDFC Bank Personal Loans: Competitive Interest Rates & Processing Fees
HDFC Bank Personal Loan comes with competitive interest rates, allowing you to save money and enjoy affordable EMIs. Existing customers, can also avail additional discounts on the interest rate and processing fees. For detailed information about our Personal Loan Interest Rates and Processing Fee charges, refer to the table below.
Personal Loan
For Your Every Need!
-
Personal Loan
for Salaried -
Emergency
Loan -
Debt Cosolidation
Loan -
Marriage
Loan -
Home Renovation
Loan -
Personal Loan
for Women
Charges to avail a Personal Loan
Government taxes and other levies as applicable will be charged over and above the Fee and Charges. Loan disbursal at the sole discretion of HDFC Bank Ltd.
| Fee | Amount to be paid |
|---|---|
| Rack Interest Rate | Salaried- 10.75% to 24% |
| Processing fee / Loan Processing Charges |
Up to Rs 4999/- |
| Stamp Duty & Other Statutory Charges | As per applicable laws of the state |
| Delayed instalment payment charge |
18% p.a plus applicable government taxes on overdue instalment amount |
Charges Post Loan Disbursement
| Fee | Amount to be paid |
|---|---|
| Legal/Incidental Charges | At actuals |
| Amortization Schedule Charges / Repayment Schedule Charges | Rs. 50/- per schedule for physical copy. Customer can also download from website free of cost. |
| Repayment mode change charges | ₹ 500/- |
| Payment Return Charges | ₹ 450 Per Instance |
| Loan cancellation Charges & Rebooking Charges | Loan cancellation Charges: Loan cancellation is allowed within cooling off/look-up period from the loan disbursement date. In the event of loan cancellation, interest charged from date of disbursement till the date of loan cancellation will be borne by the customer. Processing Fee, Stamp duty, other statutory charges and GST are non-refundable charges and would not be waived/refunded in case of loan cancellation. Rebooking Charges :- ₹ 1000/- + applicable government taxes |
| Delayed instalment payment charge | 18% p.a plus applicable government taxes on overdue instalment amount |
Premature Closure Charges
| Fee | Amount to be paid |
|---|---|
| Premature Closure Charges (For Full Payment) | Premature closure Charges (applicable on principal outstanding) post Cooling Period off / look-up Period.
Please have a service request registered regarding Personal Loan foreclosure. Click here to raise an online token for the same. |
| Premature Closure Charges (For Part payment) | Partial Premature closure charges (applicable on part payment amount) :-
Partial premature payment is allowed up to 25% of Principal Outstanding, only once in the financial year and twice during the loan tenure. |
Rate Offered To Customer During The Period 1st Oct 2023 To 31st Dec 2023
| IR | Q 3 (2023-24) |
|---|---|
| Min IRR | 10.27% |
| Max IRR | 24.15% |
| Avg IRR | 11.31% |
Annual Percentage Rate Offered To Customer During The Period 1st Oct 2023 To 31st Dec 2023
| APR | Q 3 (2023-24) |
|---|---|
| Min APR | 10.27% |
| Max APR | 24.59% |
| Avg APR | 11.31% |
*Government taxes and other levies as applicable will be charged over and above the Fee and Charges Loan disbursal at the sole discretion of HDFC Bank Ltd.
- How is the Personal Loan interest rate calculated? Interest on Personal Loan depends on various factors such as CIBIL score, Repayment History, Principal amount, Tenure.
Use the Personal Loan EMI calculator link. - What is the interest on a 1 lakh loan?
If you have taken a loan of 1 lakh at an interest rate of 12% for 12 months, then the interest for the first month will be:
= 1,00,000 x (0.12/12) = Rs.1000 - What is the interest of a Personal Loan? Interest is the amount a lender charges the borrower for availing of a loan. The amount depends on the interest rate, a specific percentage of the principal amount.
- What is the EMI for a 20 lakh Personal Loan? It will depend on the tenure and the interest rate. For example, if the given interest rate is 10.50% and the tenure is 60 months, the EMI for 20 lakhs will be Rs. 42,988. You can use the Personal Loan EMI calculator on the HDFC Bank website to check for yourself.
- What is the minimum salary required to apply for a Personal Loan?
The minimum salary for Personal Loans is Rs. 25,000 net income per month.
- What is a flat Personal Loan Interest Rate? A flat Personal Loan Interest rate is an interest rate that is calculated on the total amount of the Personal Loan throughout its tenure. The calculation is done without taking into consideration that the monthly EMIs eventually reduce the principal amount.
- What is a reducing Personal Loan Interest Rate? The reducing Personal Loan interest rate is a method used to calculate the interest rate on the outstanding loan amount every month. The EMI here includes the interest payable on the total due loan amount.
Example: If an individual has opted for a personal loan of Rs.5 lakhs for 5 years on a 16% diminishing interest rate, then they would have spent Rs.2,29,542 towards total interest. Going by this calculation, the -
- Monthly EMI would be Rs.12,159
- Interest paid during the first month would be Rs.6,593 6,667
- Last month interest rate – which is to be paid – would be Rs.160
- What are the processing fees for HDFC Bank Personal loan?
The processing fee for HDFC Bank Personal Loan is up to 2.50% of the loan amount, subject to a maximum of Rs. 25,000 for salaried customers.
- What is the stamp duty charge for a Personal Loan? Stamp duty and other charges will vary from one state to another, as the laws of each state tend to differ.
- What are Amortization Schedule Charges for Personal Loan? Amortization Schedule charges for HDFC Bank Personal Loans are Rs.200.