Compare HDFC Bank vs Bajaj Finserv Personal Loan

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Bank	SBI HDFC Bank ICICI Bank IDFC First Bank Axis Bank Tata Capital Fullerton India IndusInd Bank Kotak Bank RBL Bank IIFL HDB Financial Corporation Bank Karur Vysya Bank Muthoot Yes Bank Union Bank of India Canara Bank Bank of Maharashtra Andhra Bank Allahabad Bank Federal Bank Standard Chartered Bank Syndicate Bank PNB Indian Overseas Bank Indian Bank IDBI Bank Bank of Baroda Cashe Axis Finance	SBI ICICI Bank Bajaj Finserv IDFC First Bank Axis Bank Tata Capital Fullerton India IndusInd Bank Kotak Bank RBL Bank IIFL HDB Financial Karur Vysya Bank Muthoot Union Bank of India Canara Bank Bank of Maharashtra Andhra Bank Allahabad Bank Federal Bank Syndicate Bank PNB Indian Overseas Bank Indian Bank IDBI Bank Corporation Bank Bank of Baroda Standard Chartered Bank Yes Bank Cashe Axis Finance
Interest Rate	Interest Rate 11.00% - 22.00%	12.99% - 15.50%
Processing Fees	Processing Fees Upto 2.50% Min ₹ 999	Starting from 1.50%, Up to 3%
Loan Amount	Loan Amount ₹ 50,000 to ₹ 75 Lakh	₹ 1 Lakh to ₹ 25 Lakh
Loan Tenure	Loan Tenure 12 to 60 Months	12 to 60 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,174	₹ 2,275
Part Payment Charges	Part Payment Charges Allowed after 12 months at 2-4%	Allowed after 1 month at 2%
Foreclosure Charges	Foreclosure Charges Allowed after 12 months at 2 - 4%	Allowed after 1 month at 4%
Eligible Age	Eligible Age 21 to 60 Years	25 to 58 Years
Minimum Income	Minimum Income ₹ 25,000	₹ 27,000
Current Work Experience	Current Work Experience 1 Month	1 Month
Total Work Experience	Total Work Experience 1 Month	36 Months
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 4.5/5.0	4.4/5.0

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Compare Personal Loan EMI of HDFC Bank and Bajaj Finserv

Loan Amount	HDFC Bank	Bajaj Finserv
₹ 1 Lakh	₹ 2,174	₹ 2,275
₹ 5 Lakh	₹ 10,871	₹ 11,374
₹ 10 Lakh	₹ 21,742	₹ 22,748
₹ 12 Lakh	₹ 26,091	₹ 27,298

Which is a better bank for Personal Loan – HDFC Bank or Bajaj Finserv?

HDFC Bank offers lower Personal Loan EMI at Rs. 2174 for 60 Months compared to Bajaj Finserv with a minimum EMI of Rs. 2275 for 60 Months. In addition, average customer ratings for HDFC Bank is currently at 4.5/5.0, making it a good choice for taking a Personal Loan.

How does HDFC Bank Personal Loan compare with Bajaj Finserv Personal Loan?

It is important to make a detailed comparison of HDFC Bank and Bajaj Finserv 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 HDFC Bank Loan is 11.00%, which is lower than the lowest interest rate of Bajaj Finserv at 12.99%. Hence, HDFC Bank is offering a cheaper loan option.
Compared to other Personal Loan charges such as processing fees, HDFC Bank charges a processing fee of Upto 2.50% Min ₹ 999, while Bajaj Finserv charges a processing fee of Upto Starting from 1.50%, Up to 3%.
HDFC Bank offers Personal Loan upto an amount of ₹ 75 Lakh, while Bajaj Finserv offers Loan upto an amount of ₹ 25 Lakh. Therefore, HDFC Bank 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. Bajaj Finserv gives the option to close the loan after 1 months at 4% and HDFC Bank gives the option to close the loan after 12 months at 2 - 4%. This makes Bajaj Finserv a better option for Personal Loan.
Bajaj Finserv and HDFC Bank allow part payment on Personal Loan after 1 months at 2%. Bajaj Finserv applies a charge of 2% and HDFC Bank charges 2-4% on Personal Loan.
HDFC Bank has an average customer rating of 4.5. In contrast, Bajaj Finserv has an average customer rating of 4.4, based on which it is clear that HDFC Bank has a high customer service focus, an easy process and a quick turnaround.

Which bank offers a lower interest rate on Personal Loan – HDFC Bank or Bajaj Finserv?

As per the current rates, HDFC Bank offers a lower interest rate of 11.00% on loans compared to Bajaj Finserv, which offers a Personal Loan at 12.99%.

Know more about HDFC Bank Personal Loan

Know more about Bajaj Finserv Personal Loan

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Personal Loan News - Aug 2022

2022-08-09 : HDFC hikes MCRL by upto 10 bps on all loan tenures.
With the effect of the 50bps hike by RBI in key policy rates, private sector lender HDFC increased its marginal cost of funds-based lending rates on loans across all tenures by upto 10 basis points. The one-year MCLR will now be 8.10% compared to 8.00% previously.
2022-08-06 : SBI to offer personal loans of upto INR 35 lakhs via YONO.
With the help of Real-Time Xpress Credit (RTXC), SBI will now offer personal loans of upto INR 35 lakhs on YONO app. Customers can now apply for a personal loan on YONO app without having to fill out any documentation.
2022-07-22 : SBI hikes lending rates, loan EMIs to rise.
Increase in SBI’s Marginal Cost Lending Rates on loans by 10 basis points. The new lending rates will come into effect from 15th July 2022. For one year tenure, MCLR increased to 7.5% from the current 7.4%, and retail loans for cars, houses, or personal loans tend to go higher, affecting monthly loan installments.
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.

*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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