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Compare HDB Financial vs Canara Bank Personal Loan

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Interest Rate
Interest Rate
30.00% - 36.00%
12.85% - 14.30%
Processing Fees
Processing Fees
Upto 3% of Loan Amount
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 20 Lakh
₹ 1 Lakh to ₹ 3 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,235
₹ 2,675
Part Payment Charges
Part Payment Charges
Allowed after 6 months at Nil Partpayment charges
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 6 months at Nil foreclosure charges
Allowed after 1 month at Nil prepayment charges
Eligible Age
Eligible Age
22 to 60 Years
21 to 60 Years
Minimum Income
Minimum Income
₹ 20,000
₹ 15,000
Current Work Experience
Current Work Experience
6 Months
12 Months
Total Work Experience
Total Work Experience
6 Months
36 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Personal Loan EMI of HDB Financial and Canara Bank

Loan Amount HDB Financial Canara Bank
₹ 1 Lakh ₹ 3,235 ₹ 2,675
₹ 5 Lakh ₹ 16,177 ₹ 13,377
₹ 10 Lakh ₹ 32,353 ₹ 26,753
₹ 12 Lakh ₹ 38,824 ₹ 32,104

Which is a better bank for Personal Loan – Canara Bank or HDB Financial?

Canara Bank offers lower Personal Loan EMI at Rs. 2675 for 48 Months compared to HDB Financial with a minimum EMI of Rs. 3235 for 60 Months. In addition, average customer ratings for Canara Bank is currently at 4.3/5.0, making it a good choice for taking a Personal Loan.

How does Canara Bank Personal Loan compare with HDB Financial Personal Loan?

It is important to make a detailed comparison of Canara Bank and HDB Financial on all loan terms and conditions to understand their differences and make an informed decision. Keep in mind that each bank’s scheme has its pros and cons that have to be evaluated before choosing the best offer. Some of the key results of the comparison between the two banks are:

  • Lowest Interest rate of Canara Bank Loan is 12.85%, which is lower than the lowest interest rate of HDB Financial at 30.00%. Hence, Canara Bank is offering a cheaper loan option.
  • Compared to other Personal Loan charges such as processing fees, HDB Financial charges a processing fee of Upto 3% of Loan Amount, while Canara Bank charges a processing fee of Upto 0.50%.
  • HDB Financial offers Personal Loan upto an amount of ₹ 20 Lakh, while Canara Bank offers Loan upto an amount of ₹ 3 Lakh. Therefore, HDB Financial can be a better option if you are looking for a high value amount.
  • One feature that makes Personal Loan a better option is the foreclosure facility. Canara Bank gives the option to close the loan after 1 months at Nil prepayment charges and HDB Financial gives the option to close the loan after 6 months at Nil foreclosure charges. This makes Canara Bank a better option for Personal Loan.
  • HDB Financial allows part payment on Personal Loan after 6 months at Nil charges, while Canara Bank does not offer a part payment facility. This makes HDB Financial a better option for instant loan requirements.
  • Canara Bank with an average customer rating of 4.3 is equally comparable to HDB Financial with an average customer rating of 4.3. Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Personal Loan – Canara Bank or HDB Financial?

As per the current rates, Canara Bank offers a lower interest rate of 12.85% on loans compared to HDB Financial, which offers a Personal Loan at 30.00%.

Know more about HDB Financial Personal Loan

Know more about Canara Bank Personal Loan

Compare HDB Financial Personal Loan With Other Banks

Compare Canara Bank Personal Loan With Other Banks

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Personal Loan News - Jun 2022
  • 2022-05-13 : Punjab National Bank Increases Personal Loan Rates
    The bank has increased the rates by 40 basis points, and after the revision, the bank offers personal loans starting from 8.85% to 14.85%.
  • 2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
    The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
  • 2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
    The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21.
  • 2022-05-12 : Indian Bank Revises Personal Loan Rates
    Indian Bank has increased the rates on personal loans, and as a result, the bank offers the lowest rates starting at 8.90% to upto 9.40%.
  • 2022-05-10 : Canara Bank Hikes Personal Loan Interest Rates
    The bank has increased the lowest personal loan rates from 12.40% to 12.80%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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