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Compare Kotak Bank vs HDB Financial Personal Loan

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Bank
Interest Rate
Interest Rate
10.99% - 17.99%
30.00% - 36.00%
Processing Fees
Processing Fees
Starting from Rs.999
Upto 3% of Loan Amount
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 50 Lakh
₹ 1 Lakh to ₹ 20 Lakh
Loan Tenure
Loan Tenure
12 to 48 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,584
₹ 3,235
Part Payment Charges
Part Payment Charges
Allowed after 12 months at Rs.500/- + GST Charges applicable on part payment. After lock-in period, Customer can pay 20% every year on Principal Outstanding
Allowed after 6 months at Nil Partpayment charges
Foreclosure Charges
Foreclosure Charges
Allowed after 12 months at Starting from Rs.999
Allowed after 6 months at Nil foreclosure charges
Eligible Age
Eligible Age
22 to 55 Years
22 to 60 Years
Minimum Income
Minimum Income
₹ 40,000
₹ 20,000
Current Work Experience
Current Work Experience
6 Months
6 Months
Total Work Experience
Total Work Experience
24 Months
6 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.5/5.0
4.3/5.0
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Compare Personal Loan EMI of Kotak Bank and HDB Financial

Loan Amount Kotak Bank HDB Financial
₹ 1 Lakh ₹ 2,584 ₹ 3,235
₹ 5 Lakh ₹ 12,920 ₹ 16,177
₹ 10 Lakh ₹ 25,841 ₹ 32,353
₹ 12 Lakh ₹ 31,009 ₹ 38,824

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

Kotak Bank offers lower Personal Loan EMI at Rs. 2584 for 48 Months compared to HDB Financial with a minimum EMI of Rs. 3235 for 60 Months. In addition, average customer ratings for Kotak Bank is currently at 4.5/5.0, making it a good choice for taking a Personal Loan.

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

It is important to make a detailed comparison of Kotak 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 Kotak Bank Loan is 10.99%, which is lower than the lowest interest rate of HDB Financial at 30.00%. Hence, Kotak Bank is offering a cheaper loan option.
  • Compared to other Personal Loan charges such as processing fees, Kotak Bank charges a processing fee of Starting from Rs.999, while HDB Financial charges a processing fee of Upto Upto 3% of Loan Amount.
  • Kotak Bank offers Personal Loan upto an amount of ₹ 50 Lakh, while HDB Financial offers Loan upto an amount of ₹ 20 Lakh. Therefore, Kotak 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 Kotak Bank gives the option to close the loan after 12 months at Starting from Rs.999. This makes HDB Financial a better option for Personal Loan.
  • HDB Financial and Kotak Bank allow part payment on Personal Loan after 6 months at Nil charges. HDB Financial applies a charge of Nil charges and Kotak Bank charges Nil charges on Personal Loan.
  • Kotak Bank has an average customer rating of 4.5. In contrast, HDB Financial has an average customer rating of 4.3, based on which it is clear that Kotak Bank has a high customer service focus, an easy process and a quick turnaround.

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

As per the current rates, Kotak Bank offers a lower interest rate of 10.99% on loans compared to HDB Financial, which offers a Personal Loan at 30.00%.

Know more about Kotak Bank Personal Loan

Know more about HDB Financial Personal Loan

Compare Kotak 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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