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HDFC Bank vs State Bank of India Personal Loan
HDFC Bank advertises the lower starting rate (9.99% vs 10%). On ₹5 lakh over 3 years that is about ₹85 less interest, or ₹2 less per month, at the starting rates.
| HDFC Bank | SBI | |
|---|---|---|
| Starting interest rate | 9.99% | 10% |
| EMI for ₹5 lakh, 3 years | ₹16,131 | ₹16,134 |
| Total interest | ₹80,725 | ₹80,809 |
| Processing fee | Up to ₹6,500 plus GST | Not stated |
| Prepayment | Foreclosure charge 4% up to 24 EMIs, 3% from 25 to 36 EMIs, 2% after 36 EMIs | Not stated |
| Maximum tenure | - | - |
Source: HDFC Bank official page, checked 2 November 2026.
Source: State Bank of India official page, checked 2 November 2026.
These figures use the bank's advertised starting rate. Most borrowers are offered a higher rate depending on credit score, income and loan size, so treat the result as a best case.
Frequently asked questions
Which is cheaper, HDFC Bank or SBI personal loan?
HDFC Bank advertises the lower starting rate (9.99% vs 10%). On ₹5 lakh over 3 years that is about ₹85 less interest, or ₹2 less per month, at the starting rates. Your actual rate may differ from the starting rate.