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Compare Personal Loan - IIFL vs HDB Financial

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Interest Rate
Interest Rate
16.00% - 19.99%
13.00% - 36.00%
Processing Fees
Processing Fees
Upto 3% of Loan Amount
Loan Amount
Loan Amount
₹ 50,000 to ₹ 25 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
₹ 2,432
₹ 2,275
Part Payment Charges
Part Payment Charges
Not Allowed
Allowed after 6 months at Nil Partpayment charges
Foreclosure Charges
Foreclosure Charges
Allowed after 6 months at 01-06 months-7%+GST, 7-24 months- 5%+GST and After 24 Months-4%+ GST
Allowed after 6 months at Nil foreclosure charges
Eligible Age
Eligible Age
25 to 60 Years
22 to 60 Years
Minimum Income
Minimum Income
₹ 25,000
₹ 20,000
Current Work Experience
Current Work Experience
6 Months
6 Months
Total Work Experience
Total Work Experience
36 Months
6 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of IIFL and HDB Financial Personal Loan

Loan Amount IIFL HDB Financial
₹ 1 Lakh ₹ 2,432 ₹ 2,275
₹ 5 Lakh ₹ 12,159 ₹ 11,377
₹ 10 Lakh ₹ 24,318 ₹ 22,753
₹ 12 Lakh ₹ 29,182 ₹ 27,304

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

HDB Financial offers lower Personal Loan EMI at 2275 on a Personal Loan for 60 Months as compared to IIFL with a minimum EMI of 2432 for 60 Months. Average customer ratings for HDB Financial is currently at 4.3/5.0 which makes it a good choice for taking a Personal Loan.

How does HDB Financial Personal Loan compare with IIFL Personal Loan?

It is important to do a detailed comparison of HDB Financial 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 HDB Financial Personal Loan is 13.00%, which is lower than the lowest interest rate of IIFL at 16.00%. Hence, HDB Financial is offering a cheaper loan option.
  • When compared on other Personal Loan charges such as processing fees, IIFL charges a processing fees of 3% while HDB Financial charges a processing fees of Upto 3% of Loan Amount.
  • IIFL offers Personal Loan upto an amount of ₹ 25 Lakh while HDB Financial offer Personal Loan upto an amount of ₹ 20 Lakh. IIFL 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. HDB Financial and IIFL gives the option to close the loan after 6 months at Nil foreclosure charges and 01-06 months-7%+GST, 7-24 months- 5%+GST and After 24 Months-4%+ GST. This makes HDB Financial a better option for Personal Loan.
  • HDB Financial allows part payment on Personal Loan after 6 months at Nil charges, while IIFL does not offer part payment facility on Personal Loan. This makes HDB Financial a better option for Personal Loan.
  • IIFL has an average customer ratings of 4.8, while HDB Financial has an average customer rating of 4.3, based on which it is clear that IIFL has a high customer service focus, an easy Personal Loan process and a quick turnaround.

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

As per the current rates, HDB Financial offers a lower interest rate of 13.00% on Personal Loan when compared to IIFL which offers a Personal Loan at 16.00%.

Know all about Personal Loan

Know more about IIFL Personal Loan

Know more about HDB Financial Personal Loan

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*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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