Compare IDFC First Bank vs HDB Financial Personal Loan

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Bank	SBI HDFC Bank ICICI Bank Bajaj Finserv IDFC First Bank Axis Bank Tata Capital Fullerton India IndusInd Bank Kotak Bank RBL Bank IIFL IDBI Bank Karur Vysya Bank Muthoot Yes Bank Standard Chartered Bank Union Bank of India Canara Bank Bank of Maharashtra Andhra Bank Allahabad Bank Federal Bank Syndicate Bank Bank of Baroda PNB Indian Overseas Bank Indian Bank Corporation Bank Cashe Axis Finance	SBI HDFC Bank ICICI Bank Bajaj Finserv Axis Bank Tata Capital Fullerton India IndusInd Bank Kotak Bank RBL Bank IIFL HDB Financial Corporation Bank Muthoot Karur Vysya Bank 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
Interest Rate	Interest Rate 10.49% - 22.00%	30.00% - 36.00%
Processing Fees	Processing Fees Upto 2.00%	Upto 3% of Loan Amount
Loan Amount	Loan Amount ₹ 1 Lakh to ₹ 40 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 ₹ 2,149	₹ 3,235
Part Payment Charges	Part Payment Charges Allowed after 3 months at In case of Smart Personal Loan at Nil Charges	Allowed after 6 months at Nil Partpayment charges
Foreclosure Charges	Foreclosure Charges Allowed after 12 months at 5% foreclosure charges. Can foreclose after 3 months in case of smart personal loan	Allowed after 6 months at Nil foreclosure charges
Eligible Age	Eligible Age 23 to 60 Years	22 to 60 Years
Minimum Income	Minimum Income ₹ 20,000	₹ 20,000
Current Work Experience	Current Work Experience 6 Months	6 Months
Total Work Experience	Total Work Experience 12 Months	6 Months
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 4.6/5.0	4.3/5.0

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Compare Personal Loan EMI of IDFC First Bank and HDB Financial

Loan Amount	IDFC First Bank	HDB Financial
₹ 1 Lakh	₹ 2,149	₹ 3,235
₹ 5 Lakh	₹ 10,744	₹ 16,177
₹ 10 Lakh	₹ 21,489	₹ 32,353
₹ 12 Lakh	₹ 25,787	₹ 38,824

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

IDFC First Bank offers lower Personal Loan EMI at Rs. 2149 for 60 Months compared to HDB Financial with a minimum EMI of Rs. 3235 for 60 Months. In addition, average customer ratings for IDFC First Bank is currently at 4.6/5.0, making it a good choice for taking a Personal Loan.

How does IDFC First Bank Personal Loan compare with HDB Financial Personal Loan?

It is important to make a detailed comparison of IDFC First 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 IDFC First Bank Loan is 10.49%, which is lower than the lowest interest rate of HDB Financial at 30.00%. Hence, IDFC First Bank is offering a cheaper loan option.
Compared to other Personal Loan charges such as processing fees, IDFC First Bank charges a processing fee of Upto 2.00%, while HDB Financial charges a processing fee of Upto Upto 3% of Loan Amount.
IDFC First Bank offers Personal Loan upto an amount of ₹ 40 Lakh, while HDB Financial offers Loan upto an amount of ₹ 20 Lakh. Therefore, IDFC First 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. HDB Financial gives the option to close the loan after 6 months at Nil foreclosure charges and IDFC First Bank gives the option to close the loan after 12 months at 5% foreclosure charges. Can foreclose after 3 months in case of smart personal loan. This makes HDB Financial a better option for Personal Loan.
HDB Financial and IDFC First Bank allow part payment on Personal Loan after 6 months at Nil charges. HDB Financial applies a charge of Nil charges and IDFC First Bank charges Nil charges on Personal Loan.
IDFC First Bank has an average customer rating of 4.6. In contrast, HDB Financial has an average customer rating of 4.3, based on which it is clear that IDFC First Bank has a high customer service focus, an easy process and a quick turnaround.

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

As per the current rates, IDFC First Bank offers a lower interest rate of 10.49% on loans compared to HDB Financial, which offers a Personal Loan at 30.00%.

Know more about IDFC First Bank Personal Loan

Know more about HDB Financial Personal Loan

Compare IDFC First Bank Personal Loan With Other Banks

Compare HDB Financial 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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