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  • No Cost EMI on Apple Products Now get your favorite Apple products with No Cost EMI Schemes

  • 10% Cashback Upto Rs.5000* on AC & Ref Get Cashback Upto Rs.5000* on purchase of Air Conditioner or Refrigerator

  • Nothing Phone (2a) EMI starts at Rs.1,682* only* on Nothing Phone (2a)

  • Instant Personal Loan Get an Instant Personal Loan now for upto Rs. 25 Lakhs!

  • Instant Pre-approved Offers Apply for Pre-approved loans in just 5 mins with Zero documentation!

  • HDB ontheGo App One application to view & manage your loan account & also apply for new loan

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6
  • No Cost EMI on Apple Products Now get your favorite Apple products with No Cost EMI Schemes

  • 10% Cashback Upto Rs.5000* on AC & Ref Get Cashback Upto Rs.5000* on purchase of Air Conditioner or Refrigerator

  • Nothing Phone (2a) EMI starts at Rs.1,682* only* on Nothing Phone (2a)

  • Instant Personal Loan Get an Instant Personal Loan now for upto Rs. 25 Lakhs!

  • Instant Pre-approved Offers Apply for Pre-approved loans in just 5 mins with Zero documentation!

  • HDB ontheGo App One application to view & manage your loan account & also apply for new loan

Interest Rates & Charges

Our Master Credit Policy has the factors affecting the risk grading/interest rate of the customers.

These factors also impact the pricing on loans.

A. Factors affecting Pricing for all products

  • Loan Amount
  • Loan Tenor
  • Credit History
  • Existing Relationship

B. Additional Factors affecting Pricing for each Product as listed below in the table

Product Additional Factors considered for Pricing
Unsecured Business Loans Location of the Borrower (City Tier), Audited Financials / GST Status
Salaried Personal Loans Job / Employer Classification, Salary Band
Gold Loans Ornament Type, Gold Purity
Vehicle Loans (CV, CE, TRL, TW) Asset Vintage, Asset Type, Customer Segmentation, Asset OEM Partnership
Sales Finance (CD, DPL, LSL) Asset OEM Partnership
LAP / LARR / EBL Applicant Profile, Collateral Type, Collateral Location
Product Interest Rate (p.a.)
Commercial Vehicles Loan 8.00% to 26.00%
Construction Equipment Loan 8.00% to 24.00%
Tractor Loan 9.00% to 25.00%
Auto Loan 8.00% to 26.00%
Two Wheeler Loan 9.00% to 32.00%
All Unsecured Loans 10.00% to 35.00%
Loan against Gold 8.50% to 25.00%
Loan Against Securities 10.00% to 18.00%
Micro Loans 20.00% to 26.00%
Consumer Durable Loan 8.00% to 38.00%
Digital Product Loan 8.00% to 43.00%
Lifestyle Product Loan 10.00% to 31.00%
Loan Against Property/Rent Receivables 8.00% to 20.00%
Enterprise Business Loan 10.00% to 36.00%

The Rate of Interest on your loan will be based on the parameters specified in the Interest Rate Policy of the Company, which is available on the website of the Company.

Floating Rate of Interest, when applicable to the loan facility, shall mean the Floating Reference Rate (FRR) applied to the facility with spread (if any) as specified in the Loan Agreement.


Floating Reference Rate (FRR)

FRR is reset every Quarter, on the 1st of April, 1st of July, 1st of October, 1st of January of every year.


FRR as on April 1st, 2024:  19.10% per annum

FRR as on January 1st, 2024:  19.10% per annum

Next revision Date:  July 1st, 2024

All Customer who are under FRR, who wants to shift to MRR can visit nearest HDBFS Branch.

Monthly Reference Rate , when applicable to the loan facility, shall mean the Monthly Reference Rate (MRR) applied to the facility with spread (if any) as specified in the Loan Agreement.


MRR-Graph

MRR is reset every Month, on the 15th of every Month.


MRR as on June 15th, 2024:   19.10% per annum


All Customer who are under FRR, who wants to shift to MRR can visit nearest HDBFS Branch.


ParticularsParticulars Personal Loan LAP EBL CDL / DPL Gold Loan Auto Loan LAS CV / CEL Tractor Loan TW
APPLICATION FEE (UPTO RS / per Asset)APPLICATION FEE
(UPTO RS / per Asset)
NA Upto 6500 Upto 5500 NA NA NA Upto 5000 Upto 5000 Upto 5000 NA
LOAN PROCESSING FEE (UPTO RS)LOAN PROCESSING FEE
(UPTO RS)
up to 5% up to 2% up to 2% up to 5% up to 2% up to 2% up to 2% up to 2% up to 1.5% up to 5%
CHEQUE / ACH BOUNCE CHARGES (P.B.)CHEQUE / ACH BOUNCE
CHARGES (P.B.)
Rs. 600 Rs. 600 Rs. 600 Rs. 400 Rs. 200 Rs. 600 Rs. 600 Rs. 600 Rs. 600 Rs. 600
DELAYED INSTALLMENT PAYMENT CHARGE (P.A)^DELAYED INSTALLMENT
PAYMENT CHARGE (P.A)^
30% 30% 30% 30% 30% 30% 30% 30% 30% 30%
PDC / ACH SWAP CHARGES (P.S)PDC / ACH SWAP
CHARGES (P.S)
Rs. 500 Rs. 500 Rs. 500 Rs. 500 Rs. 500 Rs. 500 Rs. 500 Rs. 500 Rs. 500 Rs. 500
STATEMENT OF ACCOUNT CHARGES - Through Mobile App & Web AppSTATEMENT OF ACCOUNT
CHARGES - Through Mobile
App & Web App
NIL NIL NIL NIL Nil NIL NIL NIL NIL NIL
STATEMENT OF ACCOUNT CHARGES - Through other ChannelsSTATEMENT OF ACCOUNT
CHARGES - Through
other Channels
Rs. 500 Rs. 500 Rs. 500 Rs. 200 Rs. 200 Rs. 500 Rs. 500 Rs. 500 Rs. 500 Rs. 500
DOCUMENT RETRIEVAL CHARGESDOCUMENT RETRIEVAL
CHARGES
Rs. 750 Rs. 750 Rs. 750 Rs. 750 NA Rs. 750 Rs. 750 Rs. 750 Rs. 750 Rs. 750
COPY OF PROPERTY/ SECURITY PAPERSCOPY OF PROPERTY/
SECURITY PAPERS
NA Rs. 750 Rs. 750 NA NA Rs. 750 Rs. 750 Rs. 750 Rs. 750 NA
NOC REVALIDATION CHARGESNOC REVALIDATION
CHARGES
NA NA NA NA NA Rs. 500 NA Rs. 500 Rs. 500 Rs. 500
COPY OF DOCUMENTS (issued at the time of loan disbursement)COPY OF
DOCUMENTS (issued at
the time of loan
disbursement)
Rs. 500 Rs. 500 Rs. 500 Rs. 200 Rs. 200 Rs. 500 Rs. 500 Rs. 500 Rs. 500 Rs. 500
LOAN CANCELLATION CHARGES LOAN CANCELLATION
CHARGES
Rs. 1,000 Rs. 7,500 Rs. 7,500 Rs. 1,000 Nil Rs. 5,000 Rs. 5,000 Rs. 5,000 Rs. 5,000 Rs. 1,000
CERSAI FEES (PER PROPERTY) CERSAI FEES
(PER PROPERTY)
NA Rs. 100 Rs. 100 NA NA NA NA NA NA NA
PRE-PAYMENT CHARGES (AS % OF POS) PRE-PAYMENT
CHARGES (AS % OF POS)
up to 4% up to 4% up to 4% NIL up to Rs. 500/- up to 4% up to 4% up to 4% up to 4% up to 4%
INSTALLMENT COLLECTION CHARGES (P.I.) INSTALLMENT COLLECTION
CHARGES (P.I.)
Rs. 200 Rs. 200 Rs. 200 Rs. 200 Rs. 200 Rs. 200 Rs. 200 Rs. 200 Rs. 200 Rs. 200
REPOSSESSION CHARGES (UPTO RS)# REPOSSESSION CHARGES
(UPTO RS)#
NA upto 1.5L upto 1.5L NA NA Upto Rs. 11,000 NA Upto Rs. 25,000 Upto Rs. 12,000 Upto Rs. 3,500
RESCHEDULMENT CHARGES (AS % OF POS) RESCHEDULMENT
CHARGES (AS % OF POS)
1% 1% 1% 1% 1% 1% 1% 1% 1% 1%
LOAN RECALL NOTICE CHARGES (P.L) LOAN RECALL NOTICE
CHARGES (P.L)
Rs. 2,000 Rs. 2,000 Rs. 2,000 NA Rs. 1000 Rs. 2,000 Rs. 2,000 Rs. 2,000 Rs. 2,000 Rs. 2,000
PARKING CHARGES per day (UPTO RS) PARKING CHARGES
per day (UPTO RS)
NA NA NA NA NA Rs. 65 NA Rs. 250 Rs. 80 Rs. 30
CASH HANDLING CHARGES CASH HANDLING
CHARGES
NA NA NA 1% 1% NA NA NA NA 3%
GOLD AUCTION CHARGES (P.A.) GOLD AUCTION
CHARGES (P.A.)
NA NA NA NA Rs. 1,500 NA NA NA NA NA
Please Note:
  • The above charges are exclusive of GST.
  • # Repo Charges for LAP & EBL varies from State to State
  • p.m.^ = Per Month on Overdue EMI Amount/Interest Amount
  • Sarfaesi Charges for LAP, EBL & LAPCL are Rs. 35,000/-
  • Processing fee is charged on Sanctioned loan amount.
  • Illustration of Processing fee & Delayed Installment payment charge for sample cases are given in annexure.
  • SOA – SF Customer: Free for 1st request. Charges for subsequent request would be Rs. 200/-
  • # Repossession charges varies from location to location depending on property, difficulty in repossession, borrower profile and other incidental charges
  • Yard Parking charges are charged on per day basis
  • Cash handling charges are charged on cash received from customer for repayment of EMI / Charges / Prepayment of loan
  • In addition to above, there is documentation charges applicable for two-wheeler loans. This charge is up to 3% of the sanctioned loan amount.
  • For Micro Lending product there are only two charges. (i) 1.5% Processing fee on sanctioned loan amount (ii) Account validation charge up to Rs. 5/- per bank account number validation
  • Any waiver of charges be permitted subject to approval of appropriate authority
  • The quantum of the delayed instalment payment charge to be reasonable.
  • Penal charges levied on borrowers by whatever name shall not be capitalised.
  • With effect from April 01, 2024, no additional component can be added to the rate of interest in the form of 'Penal Interest'. There shall not be any additional rate of interest / premium / default interest payable on default by the borrower w.e.f. April 01, 2024.
  • The delayed instalment payment charge for loans sanctioned to 'individual borrowers, for purposes other than business', cannot be higher than such charges applicable to non-individual borrowers.

Abbreviations Used:
  • Loan Against Property = LAP; EBL = Enterprise Business Loans; CDL = Consumer Durables Loans; DPL = Digital Product Loan; LSL = Life Style Loans, LAS = Loan Against Securities; CV = Commercial Vehicles; CEL = Commercial Equipments Loans; TW = Two Wheeler; LAPCL = Loan Against Property Credit Line; Txn= Transaction;
  • For all value figures K - Thousand; p.a.=per asset; p.b.= per bounce; p.s.=per swap; p.i.=per installment; p.l.=per loan; POS = Principal Outstanding
  Months on Books
Product 0-12 months 12-36 months 36 months & above
Loan Against Property & Enterprise Business Loan
(on Fixed Rate)
4% of Principal Outstanding Amount 4% of Principal Outstanding Amount 2% of Principal Outstanding Amount
Loan Against Property & Enterprise Business Loan
(on Floating Interest Rate)
Non-Individual Borrowers 4% of Principal Outstanding Amount 4% of Principal Outstanding Amount 2% of Principal Outstanding Amount
Individual Borrowers Nil Nil Nil
Loan Against Gold jewellery

Upto 3 Months: Rs. 500/-

After 3 Months: No Prepayment

Prepayment by cash - Cash handling charges* of Rs.1/- per Rs.100/-

*Cash Payment allowed only for total loan amount upto Rs.1 lac on all loans from us.

Click here to refer FAQ's

Consumer Durables Loans / Digital Product Loan

No Prepayment

Prepayment by cash - Cash handling charges* of Rs.1/- per Rs.100/-

*Cash Payment allowed only for total loan amount upto Rs.1 lac on all loans from us.

Click here to refer FAQ's

Personal Loan, Auto Loan, Two Wheeler Loan, Loan Against Securities, Commercial Vehicle Loan, Construction Equipment Loan, Tractor Loan 4% of Principal Outstanding Amount 4% of Principal Outstanding Amount 4% of Principal Outstanding Amount

Click here for Prepayment Request Form

GST, as applicable, will be charged on prepayment charges