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HDFC Personal Loan

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HDFC Personal Loan


Interest Rates & Charges

To borrow smartly, one must be able to take out a Personal Loan with reasonable terms. We are aware of this requirement and have designed our loan to be as affordable as possible. With some of the lowest costs available, HDFC Personal Loan is provided at a competitive rate of interest. 

Applicable Fees 

Interest rate

Our loan interest rate starting at 11 percent would help you control costs and keep your EMIs manageable. Fund all types of personal or professional costs while assuring the best possible return.

Processing charges

A processing fee is charged when an HDFC Personal is processed. The application fee of Rs.5000 is a one-time charge imposed during the submission process.

Pre-payment charges

Pre-payment in Part or Full: - No pre-payment charges until 12 EMIs. Part-payment up to 25% of the loan amount, once in a year or twice during the loan tenure.

Pre-payment charges: - 

13 – 24 months – 4% of the loan amount.

25 – 36 months – 3% of the loan amount.

Above 36 months – 2% of the loan amount.

*10% discount on all service charges for senior citizens.

Stamp Duty & other charges

As per the state law.




Overdue EMI interest

2% per month EMI / Principle overdue

Legal / Incidental

At actuals

Amortization Schedule / Repayment schedule


Repayment mode change


EMI / payment return


Loan cancellation / Rebooking

NIL for cancellation of Loan (Rs.1000 for rebooking the loan)


HDFC Personal Loan

Types of HDFC Personal Loan Interest Rate

There are two kinds of HDFC Personal Loan interest rates: fixed and floating.

Fixed Interest Rate

Here, the rate of interest charged on the HDFC Personal Loan amount will remain constant throughout the loan repayment period. You know your HDFC Personal Loan EMI obligation at the start of the tenor, allowing you to plan your monthly budget accordingly.

HDFC Personal Loan
HDFC Personal Loan

Floating Interest Rate

Here, HDFC Personal Loan interest rates could change depending on changes to the Marginal Cost of Lending Rate (MCLR), which is the base rate set for banks by the RBI. With changes in MCLR, the interest rate on loans also gets revised. With a lower interest rate, the repayment amount also reduces. On the other hand, if the interest rates increase, your EMI obligation will also increase. A floating HDFC Personal Loan interest rate makes it difficult for you to ascertain your monthly financial obligation.

HDFC Personal Loan Interest Calculation Method

There are two methods to calculate interest: flat rate method and the reducing balance method.

In the flat interest rate method, the interest rate is based on the complete loan amount you pay during the repayment period. In case of reducing the balance method, the rate of interest on the HDFC Personal Loan will be considered and calculated on the basis of the outstanding loan amount.

Flat Interest Rate Calculation

EMI = (principal + total interest payable) / loan tenure in months i.e. total interest payable = P x r x n/100

Where, ‘P’ is the principal loan amount, ‘r’ is the rate of interest, and ‘n’ is the loan tenure in months.

Floating Interest Rate Calculation

EMI = [P x r x (1 + r) ^n] / [(1 + r) ^(n-1)]

Where, ‘P’ is the principal loan amount, ‘r’ is the rate of interest, and ‘n’ is the loan tenure in months.

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