Personal Loan
HDFC Personal Loan VS SBI Personal Loan. Which One is Better?
25 Apr 2019 3 min
Personal Loan: HDFC Personal Loan Vs SBI Personal Loan - Which one you should choose?

When you think of a personal loan, SBI personal loan, HDFC personal loan or ICICI personal loan, etc comes to your mind first. These banks offer the best personal loan products to suit your desires/needs. Here, we will help you compare and choose the right option for yourself. 

 HDFC vs SBI

Banks HDFC Personal Loan SBI Personal Loan
Interest Rate 14.75 % to 20.70% 11.95 % to 14.55%.
Loan Amount 50000 to Rs 15 Lacs Rs 10000 to Rs 15 Lacs
Processing Fee 1 % to 2.5% 2% to 3%
Pre Payment Charges  4 % Up to 1%

                                                                          Apply and Tell Us Your Preference

Comparative insight between two best personal loans available today - HDFC personal loan and SBI personal loan.

 Offer -  Though both the banks bring forth offers at regular intervals if you apply at the Afinoz platform you earn 1% cashback on the disbursed loan amount.

Interest rates

A personal loan interest rate is different for different customers, depending on their income, credit profile, bargaining power, etc. Interest rate of the HDFC personal loan is currently in the range of 14.75 % to 20.70 % for the salaried and self-employed class.

When it comes to the SBI personal loan, the rates are in the range of 11.95 % to 14.55 %.

Loan amount

You can apply for HDFC personal loan amount from Rs 50000 to Rs 15 Lacs. If you need a bigger loan amount, you may add the income of your spouse and can apply for a joint loan.

Whereas, you can apply for SBI personal loan amount from as low as Rs 10000 to Rs 15 Lacs. The approval depends on your repayment history and financial record. 

                                                                                      Here you check your loan eligibility

Processing fees

When you apply for HDFC personal loan, you will be asked for a processing fee in the range of 1% to 2.5 % of the approved loan amount.

When you apply for SBI personal loan, the processing fee is charged in the range of 2 % to 3 %, along with the applicable service tax.

Prepayment charges

If you belong to the salaried class, no prepayment is allowed for an HDFC personal loan until you repay at least 12 EMIs. Afterward, prepayment charges are levied in the following manner-

Between 13 to 24 months- 4 % of the outstanding principal

Between 25 to 36 months- 3 % of the outstanding principal

Beyond 36 months- 2 % of the outstanding principal

In a personal loan by SBI, the prepayment charges are levied in the following manner-

Between 13 to 24 months- 4 % of the outstanding principal

Between 25 to 36 months- 3 % of the outstanding principal

Beyond 36 months- 2 % of the outstanding principal

Loan Tenure

HDFC personal loan provides convenient options to repay your loan within a minimum period from 12 months to a maximum of 60 months.

In a personal loan by SBI, your loan tenure is stretched up to 84 months.

                                                                                         Here you check your loan eligibility              

The bottom line:

Afinoz.com can help you get the best personal loan with its best in class supports and equitable comparison insights.  Through our online platform, you can have the instant approval of your loan with real-time tracking facility. On top of that Afinoz offers 1% cashback on the disbursed loan amount, irrespective of the bank you choose as a lending partner. 

The dedicated experts in Afinoz will provide you with the best possible financial advice, tailored to your specific needs so that you can avail the best benefit. Our best services are offered to you absolutely free of cost.

For any query, feel free to call us at contact us via this blog form. 

                                                                                         Apply and Tell Us Your Preference

Other Banker Friends for Personal Loan

Aditya Birla Personal Loan HDFC Personal Loan ICICI Bank Personal Loan Axis Bank Personal Loan
Bank Of India Personal Loan IndusInd Bank Personal Loan Fullerton India Personal Loan TATA Capital Personal Loan
Capital First Personal Loan RBL Bank Personal Loan PNB Personal Loan Vijaya Bank Personal Loan
Bank of Baroda Personal Loan Uco Bank Personal Loan Mahindra Finance Personal Loan Oriental Bank Personal Loan

Personal Loan Articles : 

 How to avoid rejection of your personal loan request?

➤ How to get Your Personal Loan Approved?

➤ Personal loan Eligibility Criteria

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