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HDFC Bank Personal Loan Interest Rate 2022

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A lot of the people in India belong to the middle-class category. The critical characteristic property of this class is that middle-class people have enough money to buy necessary things, but they struggle to fulfill their aspirations. Still, many of us don’t have an air conditioner in our homes; don’t have enough money to buy a big TV and music system. Now, no worries! HDFC Bank Personal Loan will meet our dreams with ease and convenience. The full form of HDFC is Housing Development Finance Corporation.

HDFC Bank Personal Loan Current Interest Rate 2021

If you wish to avail a personal loan at the lowest possible rate of interest, then you must pay attention to the HDFC personal loan interest rates. HDFC Bank offers easy personal loans with the interest rate and charges as provided below:



Rate of Interest

10.50% to 21.45% Per Annum

Processing Fees

0.99% to 2.50% of the loan amount (Min. ₹ 1,999)

Pre-payment Charges


Loan Tenure


Between 1 year 1 month to 2 years

4% of the outstanding

Between 2 years to 3 years

3% of the outstanding

Over 3 years

2% of the outstanding

EMI Overdue

24% p.a. of amount outstanding from date of default

Cheque Swapping Charges 

₹ 500/- per instance

Schedule Fees

₹ 200/- per schedule

Cheque Bounce Fee

₹ 550/- for every occurrence

Lowest EMI

₹ 2,187/- per Lakh

HDFC Personal Loan Rates Details

HDFC Bank is one of the largest lenders in the country offers a wide variety of offers to its customers depending on the overall profile and the existing credit history. For example, if a person has availed loans in the past and also carries a credit card, and over the years proved themselves as a trustworthy borrower, the bank might offer a lower rate of interest and that too for a longer period of time. 




Interest Rate

10.50% to 21% p.a.

11.25% to 24% p.a.

Processing Fee

2.50% of the loan amount (Min. ₹ 1000 and max ₹ 25,000) 

Foreclosure Charges

After payment 12 EMIs; 2.00% to 4.00% p.a.

Repayment Tenure

12 to 72 months

12 to 60 months

Loan Amount

₹ 25,000 to ₹ 40 Lakh

₹ 50,000 to ₹ 50 Lakh

Net Monthly Income

₹ 15,000 (In metro cities)

₹ 25,000 (for all the cities)

HDFC Personal Loan Interest Rate Calculation 2021

Loan amount of ₹ 2 Lakh taken as a personal loan for a tenure ranging from 12 months to 60 months. In this case, we have demonstrated a case where a salaried individual and a self-employed professional might refer to the interest rate calculator in order to get more clarity about how interest rate calculation works and the overall interest to be paid in terms of EMIs upon the loan amount taken from the bank. 

Employee Type

1st Year

2nd Year

3rd Year

4th Year

5th Year

Salaried @ 10.75% p.a.

₹ 11,836

₹ 23,160

₹ 34,867

₹ 46,953

₹ 53,196

Self-employed @ 11.25% p.a.

₹ 12,395

₹ 24,275

₹ 36,572

₹ 49,284

₹ 62,407

HDFC Personal Loan Balance Transfer

With HDFC Bank’s easy transfer feature, now anyone can transfer the balance of their existing Personal Loan from any other bank to HDFC Bank. The facility is also available for credit cards as well. The loan amount which is transferred to the HDFC bank comes with an option of low EMI and can also make you save on your existing interest payments. HDFC Bank balance transfer interest rate offered by the bank is as low as 10.50% p.a. on the existing loan transfer from any other bank or NBFC and an additional processing fee of ₹ 1999/- is applicable on all such transactions. 

However, at the time of a balance transfer, one must always be aware that the lower interest rate is only applicable on the amount being transferred from another account to this account. Any additional expense from the credit card or any top-up availed on the personal loan is liable to attract the normal rate of interest. 

How do I get a low rate of Interest on HDFC Bank Personal Loan?

HDFC Bank already offers one of the lowest interest rates in the entire lending marketplace, however it depends on the profile of the borrower. As long as the borrower has proved their creditworthiness and has a good repayment history, any lender would not mind lending to such a borrower. Here are a few tips that one shall keep in mind while applying for a loan with the HDFC bank:

  • Always try and maintain a decent CIBIL score, the average a lender would want is above 700 points
  • Try and opt for a longer repayment tenure whenever applying for a personal loan, the longer the tenure the lesser would be the rate of interest
  • Over the period of repayment, try and make lumpsum payments in a year or so, in order to bring the principal amount as low as possible
  • Interest is applicable on the balance principal amount, as soon as the principal amount becomes less, the rate of interest will automatically be lesser
  • Try and negotiate with the bank you are already in touch with, most banks prefer customers who have a longing relationship with the bank over years

Eligibility for HDFC Bank Personal Loans

There are some essential Eligibility criteria for HDFC Bank personal loans. These are mentioned below.

  • The age of individuals should be in between 21 years to 60 years. Those who are underage or overage are not entertained,
  • The applicant should be an employee of any public sector undertakings or private limited companies or a government employee in central government, state government, or local bodies.
  • The applicant must have a job for at least two previous years starting from the date of application. The applicant must be employed under the current employer for at least for 1 year.
  • The salary of the applicant must be at least Rs. 15,000. This lower limit is Rs. 20,000 in some cities like Bangalore, Mumbai, Delhi, Chennai, Kolkata, Hyderabad, Cochin, and Ahmedabad. 
  • The applicant must be able to produce a guarantor before the bank officials. The guarantor is the person who is ready to pay the loan in case the actual applicant is not able to pay it.

Required Documents 

Documents are only required for those customers who don’t already have an account with HDFC Bank. The documentation process is very simple and less time-consuming. The list of documents required is given below;

  • Identity Proof (Adhar, Driving License, Passport, Voter ID Card)
  • Address Proof (Adhar, Driving License, Passport, Voter ID Card)
  • Bank Statement of Last 3 months (Passbook of previous 3 months)
  • Latest Salary Slip or Current Dated Salary Certificate with Form 16

Fees and Charges

Apart from the HDFC personal loan rate of interest, some other fees charged for incorporation with your loan application. 

• Part Payment Charges

If you have some amount of money which is less than the principal amount, then you can deposit it against your loan and it will decrease your EMI and total interest paid. But you will have to pay extra part payment charges of around 2-4% and also part payment is allowed only after 12 months.

• Pre-Payment Charges

It is to be paid if you want to pay your entire principal amount at once. It ranges between 2-4% and can only be paid after 12 months.

• Processing Fee

This fee is charged to carry on the processing of your loan application. It varies between 0.99% and 2.5 %. But there is also a minimum amount which has to be paid and also there is an upper limit. 

• Overdue EMI Interest

If you are unable to pay the EMI for any month, then you will have to pay an interest of 2% per month on EMI.

• Cheque Bounce Charges

If the EMI is paid using cheque and the cheque bounces, then you will have to pay Rs. 550 per bounced cheque.

Factors Affecting HDFC Bank Personal Loan Interest Rates

As mentioned earlier, your rate of interest can be anywhere from 10.50% to 20%, which depends on several other factors. The interest rate varies among user to user because the risk of fault associated with the loan application of each user is different. If the risk is low, then the interest rate is high and vice versa. Some of the factors which are used to determine HDFC personal loan interest rate are mentioned below.

Salary: Your salary is probably the most essential factor in determining the HDFC personal loan rate of interest. If you have a high salary, then it means there is a lesser risk of fault in your loan application, and hence, the rate is low.

• Employer Category: If you are employed in a big firm, then your HDFC Bank personal loan interest rate will be low and vice versa. They have an internal database which is used to decide the credibility of your employer. If you are self-employed then generally interest rates are higher.

• Loan Amount: You can avail any amount of personal loan ranging from Rs. 50,000 to Rs. 40,00,000. If your loan amount is higher, then the bank can earn high profit at low interest, but if your amount is less, then they will have to charge a higher rate of interest to ensure good profit.

• Relation with HDFC and Other Banks: They check if you have any faulty loan history in their bank or any other bank and then decide the rate of interest. Also, if you are an existing customer, then they also provide some offers and benefits.

• Repayment Capability: This defines the chances that you will successfully pay back the entire loan amount. This depends on several things like your credit score, CIBIL, and many more things. Your area of employment (government or private) is also used to determine HDFC personal loan interest rate

Key Features of HDFC Personal Loans

Apart from the low-interest rates, there are several other benefits like fast loan approval, excellent cooperation from the bank official, and many more. These features are also very essential while checking for a loan. Some of these features are listed below.


Generally, personal loans are disbursed for a low period. HDFC Bank provides you the option to choose from 12 months to 60 months as your tenure of personal loan.


Anyone between 21 to 60 years of age can apply for HDFC personal loans. 

Convenience in Application

At HDFC Bank, it is guaranteed that your loan application will cause you no inconvenience. All the bank officials will thoroughly guide you through each and every step of the loan application process and help you in every possible way.

Less Time

It takes very less time for the disbursement of the loan. If all your documents are ready, then it will take no more than 2-3 day to get the loan amount in your bank account.

Offers for Existing Customers

There are several benefits for existing customers. Like HDFC bank personal interest rate is lower in case of existing users and also the loan approval is extremely fast as most of the details are already fed in the system.

Other Schemes for Special Category

They provide several schemes to particular users also where the rate of interest is low. Some of these schemes are listed below.

EMI Calculator

Equal Monthly Installment (EMI) depends upon the loan amount, interest rate and tenure of your loan. The formula which is used for calculation of EMI is 

Where P = Principal Amount

r = Rate of Interest

n = Tenure of Loan

HDFC bank also provides an EMI calculator for Personal Loans software on their website.

Repayment Options

You can repay your loan in the form of EMI and if in between your loan tenure you feel like you have sufficient amount to pay the entire principal amount, then you can pay it at once also. But you will have to pay pre-payment charges along with the full principal amount. EMIs start from Rs. 2187 per lakh. 

➤ FAQs

Ques. How much amount can be borrowed as HDFC Bank Personal Loan?

You can borrow any amount between Rs. 50,000 to Rs. 40,00,000. Although if your credit score and repayment capacity is not satisfactory, then the bank may refrain from giving you a high amount as a personal loan.

Ques. What is the HDFC Bank Personal Interest Rate?

Your rate of interest may vary between 10.50% to 20.00%. But the actual rate of interest will be decided by the bank only after considering various factors like your salary, job security, the credibility of the employer, and many other things.

Ques. How can I repay the loan amount?

The loan has to be repaid in EMIs starting from Rs. 2187 per lakh. You will have to pay the EMI using post-dated cheques. The other options include ECS or standing instruction to debit from the EMI account.

Ques. I am earning Rs. 15000 per month. Can I get a personal loan of Rs. 10 lakhs in HDFC Bank?

As per the income guidelines, you are eligible for a personal loan in HDFC Bank if you are not residing in Bangalore, Mumbai, Delhi, Chennai, Kolkata, Hyderabad, Cochin, Ahmedabad. But whether Rs. 10 lakh is within your repayment capacity or not, will be decided by the bank only.

Ques. What is the age criterion for HDFC Bank Personal Loans?

You should be minimum 18 years and at most 60 years of age to get a personal loan from HDFC bank. However, they have another particular scheme called Personal Loan for Pensioners, which also provides loan to pensioners above the age of 60.

Ques. What is a guarantor? 

A guarantor is a person who is ready to pay your debt if you didn’t pay it. Bank will ask you for a guarantor because they want to minimize the risk of irregularity in the loan. And also there is no security in personal loans. Hence guarantor is necessary.

Ques. If part-payment allowed for the HDFC Bank Personal Loan?

a tenure and only once in a financial year. Also, you will have to pay part-payment charges which may range from 2% to 4% of the principal amount. 

Ques. What will happen if I miss one of my EMIs?

You can pay this EMI later but with an interest of 2% of EMI per month. In case, your cheque is bounced then you will have to pay an additional cheque bounce charge of Rs. 550 per bounced cheque.

Ques. Do I need to provide any security for availing Personal loan benefit from HDFC Bank?

No, you don’t need to provide any security or collateral. A guarantor is enough for that purpose.

Ques. What is the tenure of Personal Loan in HDFC Bank?

You decide the tenure o your loan, and it can range anywhere between 12 months to 60 months. Your EMI will also be calculated based on the tenure of your loans.