Personal Loan · Bank review
HDFC Bank Personal Loan
HDFC Bank is one of India's largest personal-loan lenders. Its salary-account and existing customers get pre-approved offers that can be disbursed within minutes in the app; others apply online with income proof. The rate is fixed for the tenure. Below are HDFC's published terms, a worked example of what a typical loan costs, and the prepayment rules you should know before you sign.
By FinancePaisa Editorial Team · Research & editorialUpdated · 5 min read
Rates checked against the lenders' official pages on 11 October 2026. Your actual rate depends on your profile; confirm with the lender before you apply.
Official rate pages: HDFC Bank
- Interest rate
- 9.99% – 24% p.a.
- Loan amount
- Up to ₹50 lakh
- Tenure
- Up to 72 months
- Processing fee
- Up to ₹6,500 + GST
How it compares: a starting rate of 9.99% is 0.01 percentage points below the median of 10.00% across the 6 lenders we track for this product. Starting rates go to the strongest applicants; compare the rate you are actually quoted.
On this page (10 sections)
Key terms
| Term | HDFC Bank |
|---|---|
| Interest rate | 9.99% – 24% p.a. (salaried rack rate), fixed |
| Loan amount | Up to ₹50 lakh |
| Tenure | Up to 72 months |
| Processing fee | Up to ₹6,500 + GST |
| Part-prepayment | Up to 25% of principal outstanding, once a financial year and twice in the tenure |
| Prepayment charge | 4% of the amount prepaid in the first 24 EMIs, lower later in the tenure (see the charges page) |
Interest rate
- HDFC Bank
- 9.99% – 24% p.a. (salaried rack rate), fixed
Loan amount
- HDFC Bank
- Up to ₹50 lakh
Tenure
- HDFC Bank
- Up to 72 months
Processing fee
- HDFC Bank
- Up to ₹6,500 + GST
Part-prepayment
- HDFC Bank
- Up to 25% of principal outstanding, once a financial year and twice in the tenure
Prepayment charge
- HDFC Bank
- 4% of the amount prepaid in the first 24 EMIs, lower later in the tenure (see the charges page)
Worked example: what a ₹5 lakh loan costs
Take ₹5 lakh over 60 months.
At the starting rate of 9.99%, the EMI is ₹10,621 and you pay ₹1,37,264 in interest. With the maximum ₹6,500 fee plus GST (₹7,670) deducted at disbursal, the effective annual cost is about 10.66%.
Most applicants are not offered the starting rate. At 13.99%, four points higher, the EMI rises to ₹11,632 and the interest to ₹1,97,892, ₹60,628 more over the loan. The quote you get is worth negotiating, and worth comparing with one other lender.
What HDFC borrowers actually paid
HDFC publishes the rates it actually charged each quarter. For April to June 2026, the interest rate (IRR) on its personal loans ran from 9.97% to 24.06%, averaging 10.89%. The annual percentage rate (APR), which adds the processing fee and other charges, ran from 9.99% to 33.94%, averaging 11.18%. So most borrowers paid close to the bottom of the range, but the top APR shows how much fees can add on a small or short loan. Compare offers on APR, which the Key Facts Statement must show.
| April – June 2026 | Minimum | Average | Maximum |
|---|---|---|---|
| Interest rate (IRR) | 9.97% | 10.89% | 24.06% |
| APR (including fees) | 9.99% | 11.18% | 33.94% |
Interest rate (IRR)
- Minimum
- 9.97%
- Average
- 10.89%
- Maximum
- 24.06%
APR (including fees)
- Minimum
- 9.99%
- Average
- 11.18%
- Maximum
- 33.94%
Prepaying an HDFC personal loan
Because the rate is fixed, HDFC can charge for prepayment, as set out in its schedule of charges and your Key Facts Statement. Suppose you want to close the ₹5 lakh loan above after 18 EMIs. About ₹3,75,143 of principal is outstanding. At 4% plus GST the charge is about ₹17,707, while closing saves ₹70,942 of future interest, a net gain of about ₹53,235. Closing early still pays. Waiting until the charge steps down lowers the fee, but you pay interest in the meantime, so a large lump sum is usually best used as soon as it arrives. Part-prepayments are capped at 25% of the outstanding and limited to once a financial year, so plan large lump sums around those limits.
How HDFC compares with other banks we track
Starting rates and fees from each bank's own website. A starting rate is the best case; compare the APR in each Key Facts Statement for your actual offer.
| Lender | Starting rate | Processing fee | Rate checked |
|---|---|---|---|
| HDFC Bank | 9.99% | Up to ₹6,500 + GST | 11 Oct 2026 |
| SBI (Xpress Credit) | 10.00% | Up to 1.5% (₹1,000 to ₹15,000) + GST | 28 Sept 2026 |
| ICICI Bank | 9.99% | — | 28 Sept 2026 |
| Axis Bank | 9.99% | 1.5% to 2% + GST | 28 Sept 2026 |
| Kotak Mahindra | 10.99% | — | 28 Sept 2026 |
| IndusInd Bank | 10.49% | 3.5% (1.5% to 2% during offers) | 28 Sept 2026 |
HDFC Bank
- Starting rate
- 9.99%
- Processing fee
- Up to ₹6,500 + GST
- Rate checked
- 11 Oct 2026
SBI (Xpress Credit)
- Starting rate
- 10.00%
- Processing fee
- Up to 1.5% (₹1,000 to ₹15,000) + GST
- Rate checked
- 28 Sept 2026
ICICI Bank
- Starting rate
- 9.99%
- Processing fee
- —
- Rate checked
- 28 Sept 2026
Axis Bank
- Starting rate
- 9.99%
- Processing fee
- 1.5% to 2% + GST
- Rate checked
- 28 Sept 2026
Kotak Mahindra
- Starting rate
- 10.99%
- Processing fee
- —
- Rate checked
- 28 Sept 2026
IndusInd Bank
- Starting rate
- 10.49%
- Processing fee
- 3.5% (1.5% to 2% during offers)
- Rate checked
- 28 Sept 2026
Who an HDFC personal loan suits
- HDFC salary-account and existing customers, who see pre-approved offers in the app and can skip most paperwork.
- Larger loans, where a flat fee of up to ₹6,500 costs less than a percentage fee charged by other lenders.
- Borrowers who expect to keep the loan for most of its tenure, since prepayment is restricted early on.
Watch out for
- Prepayment limits: part-prepayment is capped at 25% of the outstanding and allowed only twice in the tenure.
- Add-ons such as credit-protection insurance offered at disbursal are optional. Check whether the premium is being added to the loan.
- Your quote may be several points above the starting rate; ask for the APR in writing and compare it.
How to apply
Existing customers can check for a pre-approved offer in HDFC's net banking or mobile app and, if one appears, accept it with an OTP. Others can apply on HDFC Bank's website with PAN, Aadhaar, recent salary slips and bank statements, and get an in-principle decision online. Read the Key Facts Statement before you e-sign, and check that the amount credited equals the loan minus the fee and GST.
Frequently asked questions
What is the lowest HDFC personal loan interest rate?
HDFC publishes a starting rate of 9.99% p.a.. The rate you are offered depends on your credit score, income, employer and existing relationship with the bank.
Can non-HDFC customers get a personal loan?
Yes. New-to-bank applicants can apply online with income proof. Existing salary-account customers usually get faster processing and pre-approved offers.
Is the HDFC personal loan rate fixed or floating?
Fixed. Your EMI stays the same for the whole tenure, and because the rate is fixed, prepayment charges can apply as per your Key Facts Statement.
How is the prepayment charge calculated?
As a percentage of the amount you prepay, with GST on top. The percentage is highest in the first 24 EMIs and steps down later, so the same prepayment costs less later in the loan.
Sources & references
- HDFC Bank — Personal loan interest rates and charges — HDFC Bank
- HDFC Bank — Personal loan — HDFC Bank
- RBI — Key Facts Statement (KFS) for loans and advances — Reserve Bank of India
Rates, fees, eligibility, and product terms cited on this page reflect the sources above at the time of publication and may have changed since. Always verify directly with the lender or regulator.
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