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Compare Personal Loan - IDBI Bank vs HDB Financial

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Bank
Parameters
Interest Rate
Interest Rate
12.00% - 13.50%
13.00% - 36.00%
Processing Fees
Processing Fees
1.00%
Upto 3% of Loan Amount
Loan Amount
Loan Amount
₹ 50,000 to ₹ 10 Lakh
₹ 1 Lakh to ₹ 20 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,224
₹ 2,275
Part Payment Charges
Part Payment Charges
Allowed after 1 month at 2% of the outstanding loan amount + applicable taxes
Allowed after 6 months at Nil Partpayment charges
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at Nil prepayment charges
Allowed after 6 months at Nil foreclosure charges
Eligible Age
Eligible Age
22 to 60 Years
22 to 60 Years
Minimum Income
Minimum Income
₹ 20,000
₹ 20,000
Current Work Experience
Current Work Experience
12 Months
6 Months
Total Work Experience
Total Work Experience
36 Months
6 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.3/5.0
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Compare EMI of IDBI Bank and HDB Financial Personal Loan

Loan Amount IDBI Bank HDB Financial
₹ 1 Lakh ₹ 2,224 ₹ 2,275
₹ 5 Lakh ₹ 11,122 ₹ 11,377
₹ 10 Lakh ₹ 22,244 ₹ 22,753
₹ 12 Lakh ₹ 26,693 ₹ 27,304

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

IDBI Bank offers lower Personal Loan EMI at 2224 on a Personal Loan for 60 Months as compared to HDB Financial with a minimum EMI of 2275 for 60 Months. Average customer ratings for IDBI Bank is currently at /5.0 which makes it a good choice for taking a Personal Loan.

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

It is important to do a detailed comparison of IDBI Bank and Personal Loan on all loan terms and conditions to understand their differences and take an informed decision. Keep in mind that each bank’s scheme has its own 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 IDBI Bank Personal Loan is 12.00%, which is lower than the lowest interest rate of HDB Financial at 13.00%. Hence, IDBI Bank is offering a cheaper loan option.
  • When compared on other Personal Loan charges such as processing fees, IDBI Bank charges a processing fees of 1.00% while HDB Financial charges a processing fees of Upto 3% of Loan Amount.
  • HDB Financial offers Personal Loan upto an amount of ₹ 20 Lakh while IDBI Bank offer Personal Loan upto an amount of ₹ 10 Lakh. 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 foreclosure facility. IDBI 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 IDBI Bank a better option for Personal Loan.
  • HDB Financial and IDBI Bank allow part payment on Personal Loan after 6 months at Nil charges. HDB Financial applies a charge of Nil charges and IDBI Bank charges 2% of the outstanding loan amount + applicable taxes on Personal Loan.
  • HDB Financial has an average customer ratings of 4.3, while has an average customer rating of , based on which it is clear that HDB Financial has a high customer service focus, an easy Personal Loan process and a quick turnaround.

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

As per the current rates, IDBI Bank offers a lower interest rate of 12.00% on Personal Loan when compared to HDB Financial which offers a Personal Loan at 13.00%.

Know all about Personal Loan

Know more about IDBI Bank Personal Loan

Know more about HDB Financial Personal Loan

Compare IDBI Bank Personal Loan With Other Banks

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Personal Loan News - Jun 2021
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    In the financial year 2020-21, BharatPe has witnessed a huge jump in its revenues. With the pandemic forcing more and more people and businesses to use digital transactions, it has helped the start-up earn a revenue of over Rs 700 crores, compared to just Rs 110 crores in 2019-20. The company gives small-ticket fully unsecured loans, which majorly includes personal loans, along with two-wheeler loans, car loans and other small loans, averaging at Rs 75,000 to its merchant members. The company also saw an increase in the number of merchants from 24 lakhs to 60 lakhs along with the rise in transaction value from 10 crores a month to 2.7 crores a month.
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  • 2021-06-16 : Ujjivan Small Finance Bank collaborates with MoEngage
    Ujjivan Small Finance Bank has collaborated with customer engagement platform MoEngage to provide digital banking services in remote areas of the country. The aim is to build a wide presence of the bank with customers in the unserved regions through digital services.
  • 2021-06-15 : Indian Overseas Bank declared a profit of Rs 831 crore
    IOB closed the last fiscal with a net profit of Rs.831 crore as against a net loss of about Rs.8,527 crore. The total income for the year ended 31.03.2021 stands at Rs.22,525 crore as against Rs.20,766 crore for FY20. IOB plans to come up with Prompt Corrective Action to focus on loan recovery, low-cost deposits and less capital consuming advances.
  • 2021-06-14 : IDFC First Bank’s helping hand for the covid-affected families of employees
    To help the families of employees who lost their lives due to covid, IDFC First Bank is offering compensation of upto 4 times of the CTC along with a salary of two years. Along with that, the bank is also wavering the loans of such employees to reduce the burden on the employees’ family.
*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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