HDFC Bank Personal Loan: Interest Rate, Fees, Eligibility and How to Apply

Interest rate and EMI: what you will actually pay

HDFC lists a rack rate of 9.99% to 24.00% a year for salaried borrowers. Your rate depends on your CIBIL score, repayment history, loan amount and tenure, so most people land well below the top of that range. In April to June 2026, HDFC’s disclosed average rate (IRR) was 10.89%.

APR is the yearly cost including charges, which is why its maximum sits far above the maximum rate. Fees weigh most on small, short loans.

Here is what a ₹5,00,000 loan over 36 months costs at four rates:

These are our calculations using the standard reducing-balance formula, before fees and taxes. The gap between the lowest rate and the average is ₹212 a month, about ₹7,600 over three years. For your own offer, use HDFC’s EMI calculator or WeCredit’s EMI calculator.

Fees, charges and prepayment

The processing fee is the biggest upfront cost: up to ₹6,500 plus GST, which comes to ₹7,670 if GST is charged at 18%. HDFC adds government taxes to all fees and gives senior citizens a 10% discount on service charges.

HDFC’s own example: an EMI due on the 10th and paid on the 25th adds 15 days of interest to the next EMI.

You can cancel within the cooling-off period, but you still pay interest from disbursal until cancellation, and the processing fee, stamp duty, statutory charges and GST are not refunded. The pages reviewed do not state how long that period is.

Closing the loan early

Full closure is charged on the principal outstanding, after the cooling-off period:

Part-payment is allowed after your first EMI, at the same percentages on the amount you prepay. You can prepay up to 25% of the principal outstanding, once in a financial year and twice during the loan.

Example: on the ₹5,00,000, 36-month loan at 10.89%, closing after 12 EMIs leaves about ₹3,51,000 outstanding, so the 4% charge is about ₹14,000.

HDFC’s Golden Edge programme is the exception. After at least 12 EMIs, you can foreclose in full or in part with no charge if you pay from your own funds, but only if your income is ₹75,000 or more and the loan is above ₹15 lakh. HDFC’s main page headlines “Zero Foreclosure charges” with a # mark, and its charges page lists 2% to 4% for standard loans. Read the terms before assuming you will pay nothing.

Eligibility, documents and how fast you get the money

HDFC’s eligibility criteria are:

• Age 21 to 60.
• Employed at a private limited company or a public sector undertaking (central, state or local bodies).
• At least 2 years of total work experience, with at least 1 year in your current organisation.
• Minimum net monthly income of ₹25,000.

The pages do not state a minimum CIBIL score, only that the rate depends on it. Check yours first with our guide to CIBIL score for a personal loan, and see how lenders weigh EMIs against income in FOIR for personal loans. The 9.99% to 24.00% rate is labelled “Salaried”, and the eligibility list names only the two employer types above. If you are self-employed or work elsewhere, confirm with HDFC before applying.

Documents. HDFC says no documents are required for KYC-compliant or pre-approved customers, and the journey is fully online. Its FAQ also says employed professionals submit their latest 3 salary slips and employer details as income proof. Keep salary slips ready in case they are asked for.

Speed. Pre-approved HDFC customers can get funds in 10 seconds. For everyone else, HDFC’s own pages disagree: the main page says within 4 working days, subject to verification, and the documentation page says under 4 hours. If you are not pre-approved, plan for days, not minutes.

How to apply

HDFC’s process, at applyonline.hdfcbank.com:

1. Start the application and select your occupation.
2. Identify yourself with your mobile number and date of birth or PAN.
3. Enter your personal details.
4. Verify your income.
5. Review the loan offer: amount, tenure and rate.
6. Complete Aadhaar-based KYC.
7. Accept the offer, and the money is sent to your bank account.

Before you accept, check the rate, processing fee, prepayment charge and whether any insurance premium is deducted from the amount you receive. Apply only on HDFC’s own domains (hdfc.bank.in and hdfcbank.com), and read how to spot fake loan apps if a message pushes you to a link.

Already an HDFC customer? Loan status, EMI payment and login are account services. Use HDFC’s official NetBanking, mobile app or customer care. WeCredit cannot see or change anything in your HDFC account.

Is HDFC Bank’s personal loan right for you?

It suits you if you are salaried at a private limited company or PSU, earn ₹25,000 or more a month, have a strong credit history, want a large amount (up to ₹50 lakh), or already hold a pre-approved HDFC offer.

Think twice if:

• You want a small, short loan. The ₹6,500 + GST fee weighs heavily, and the disclosed APR reached 33.94%.
• You may prepay early. Standard closure costs 2% to 4%, and the zero-charge Golden Edge route needs ₹75,000 income and a loan above ₹15 lakh.
• You are self-employed or outside the listed employer types.
• You need money on a fixed day, because the pages give conflicting timelines.

Compare before you sign. Ask every lender three things: the all-in cost (APR) including fees, the prepayment charge, and whether insurance is deducted from the amount you receive. Then compare against other lenders: HSBC, Canara Bank and IndusInd Bank, or see WeCredit’s personal loan page. If a rejection worries you, read why loans get rejected first.