HDFC personal loan interest rates start from 9.99% p.a. onwards. The personal loan rate of interest that would ultimately be offered to the loan applicant would differ based on factors such as their credit score, monthly income, job profile, and employer’s profile.
HDFC Bank 5 Lakh Personal Loan
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Step 4: Select the loan purpose and loan amount
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HDFC Bank Rs. 5 lakh Personal Loan: Interest Rate
HDFC Bank Rs. 5 lakh Personal Loan: Fees and Charges
HDFC Bank charges the following fees on a personal loan of Rs. 5 lakh.
Documents Required for HDFC Bank Personal Loan
For an HDFC Bank Rs 5 lakh personal loan, the following documents are required.
HDFC Bank Rs 5 Lakh Personal Loan Eligibility
To apply for an HDFC Bank Personal Loan, you need to meet the following conditions:
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HDFC Personal Loan vs Other Personal Loan Lenders
| Banks | HDFC | ICICI | IndusInd | Axis |
|---|---|---|---|---|
| Rates | 9.99% p.a. onwards | 10.60% p.a. onwards | 10.49% p.a. onwards | 9.99% p.a. onwards |
| Processing Fee | Up to Rs 6,500 | 2% | Up to 3.5% | Up to 2% |
EMI Calculation for HDFC Bank Rs 5 lakh Personal loan
| Tenure | 9.99% | 12% | 14% |
|---|---|---|---|
| 1 year | Rs. 43,956 | Rs. 44,424 | Rs. 44,894 |
| 2 years | Rs. 23,070 | Rs. 23,537 | Rs. 24,006 |
| 3 years | Rs. 16,131 | Rs. 16,607 | Rs. 17,089 |
| 4 years | Rs. 12,679 | Rs. 13,167 | Rs.13,663 |
| 5 years | Rs. 10,621 | Rs. 11,122 | Rs. 11,634 |
Use Paisabazaar's EMI Calculator for a personal loan to make well-informed decisions.
How Can I Apply for a Personal Loan Online?
Get up to ₹40 Lakh in 5 Simple Steps
Step 1: Enter your mobile number in the application form
Step 2: Provide your personal details
Step 3: Enter OTP to verify your mobile number
Step 4: Select the loan purpose and loan amount
Step 5: Compare offers and apply for the best-suited loan
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FAQs
What is the interest rate for a Rs. 5 lakh personal loan from HDFC Bank?
HDFC Bank personal loan interest rates generally start from around 9.99% p.a. and may vary depending on your income, credit score, and profile.
What is the tenure available for a Rs. 5 lakh HDFC personal loan?
You can choose a flexible repayment tenure ranging from 12 months to 60 months.
What is the EMI for a Rs. 5 lakh personal loan from HDFC Bank?
The EMI depends on the interest rate and tenure chosen. For example, at 12% p.a. for 5 years, the EMI would be around Rs. 11,122 per month.
What are the eligibility criteria for a ₹5 lakh HDFC personal loan?
Applicants must be 21 to 60 years old, have a minimum of 2 years of work experience (1 year with current employer), and earn at least ₹25,000 per month.
Are there any charges on a ₹5 lakh HDFC personal loan?
Yes, charges include a processing fee (up to Rs. 6500), prepayment/foreclosure charges, and applicable GST.
Personal Loan Articles
View All ArticlesPaisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.
The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.
The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.
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