HDFC Personal Loan Interest Rates

The current HDFC Bank loan interest rate for personal loan schemes ranges from 10.75% to 24% p.a. The interest rate for Premium Personal Loan or Golden Edge Personal Loan for Elite Customers starts from 10.85% p.a. whereas all other personal loan schemes are offered at an interest rate starting from 10.75% p.a.

The interest rates of HDFC Personal loan schemes may vary for different categories based on various parameters such as credit score, income, job profile, employer’s profile, etc. It is crucial to check the HDFC personal loan EMI chart using the EMI Calculator to know what suits you best.

HDFC Bank offers the following personal loan variants:

• Personal Loan for Medical Emergency: It is a loan to finance sudden, unforeseen medical expenses including medical bills, treatment, etc.
• Personal Loan for Marriage: A wedding loan offers hassle-free financing for your dream wedding by providing the necessary funds to make your special day a memorable event without any financial stress.
• Premium Personal Loan: Golden Edge Personal Loan is a premium loan product for select credit-worthy customers to provide them instant funds to suit their elite lifestyle needs such as a home upgrade, international vacations, medical expenses, planning the perfect destination wedding, etc. The HDFC Bank loan rate for this scheme is slightly higher than other schemes.
• Personal Loan for Teachers: This loan is for teachers, at private or government schools and colleges, who have fixed salaries for monthly incomes. The loan helps them meet any added overheads.
• Personal Loan for Emergency: An Emergency Loan is an affordable HDFC interest rates loan that can be used to finance sudden, unforeseen personal emergencies, like education expenses, cash crunch during wedding planning, etc.
• Personal Loan for Home Renovation: It is a personal loan for home renovation to give your home that much-needed makeover while improving its value for future sales.
• Personal Loan for Students: HDFC Personal Loan for Students can be used for a wide range of educational purposes. It is an affordable HDFC Bank interest rates loan for students and can be used for funding their own education or that of their child or family member.
• Personal Loan for Women: HDFC Bank offers loans for women to help them meet their growing financial needs like funding higher education, travel or wedding plans, or even to meet any emergency expenses.
• Personal Loan for Salaried: With HDFC Bank personal loan for salaried employees, you can meet the cost of any medical emergency, vacation, education plans, wedding, or even home renovation. The HDFC Bank personal loan interest rate for salary account holders is affordable.
• Personal Loan for Government Employees: It is a personal loan available to employees of public sector undertakings (PSUs), including central, state, and local bodies to cater to their personal needs.

Following are the current HDFC Bank personal loan interest rates for all personal loan schemes offered by HDFC Bank:

Below is a comparison of HDFC Bank personal loan interest rate with the interest rates of other banks:

Factors that can affect HDFC personal loan rates are:

• Loan amount: The amount you borrow can have an impact on the interest rate.
• Credit score: An excellent credit score of 750 or above can lead to a lower interest rate.
• Repayment tenure: Shorter loan repayment tenures may attract lower rates.
• Type of interest rate: Whether you choose a floating or fixed interest rate, it can influence your rate.
• Income level: A higher income can get you a lower HDFC Bank personal loan rate.
• Employment & income stability: Stable income as well as employment can positively influence the interest rate.
• Market conditions: Changes in the economic landscape can impact personal loan interest rates.

Here are a few tips to increase your chances of getting a low HDFC Bank loan interest rate.

• Maintain a high credit score: Since personal loans are unsecured, lenders need to assess your credit repayment abilities by evaluating your credit score and credit history. A credit score exceeding 750 points is usually considered a high credit score and enables you to negotiate your preferred loan interest rate.
• Improve CIBIL score: If you do not have the desired credit score, improve your CIBIL score by reducing unnecessary expenses and avoiding taking on any new debts temporarily. 
• Increase your income: A higher income means a higher chance of loan approval at a low interest rate. You can increase your income by showing other income sources of income like incentives, bonuses, variable pay, income from passive sources, etc.
• Reduce debt-to-income ratio: Debt-to-income ratio is your gross monthly debt divided by your gross monthly income. You can increase your income or pay off your existing debts to reduce the debt-to-income ratio in the range of 20% to 35% to boost your personal loan eligibility and get favourable HDFC Bank personal loan ROI.