Head to head · verified 23 Aug 2026
HDFC vs ICICI Personal Loan: Rates, EMI & Fees
HDFC's personal loan starts at 9.99% and ICICI's at 9.99% p.a. (verified 23 Aug 2026). Both start at the same rate, so fees, prepayment terms and speed decide it.
Both price personal loans as fixed-rate products and both lock you in before you can prepay, so the foreclosure terms matter as much as the rate.
HDFC EMI · ₹5 lakh
₹10,621
At 9.99%, 5 years
ICICI EMI · ₹5 lakh
₹10,621
At 9.99%, 5 years
Side by Side
All 9 terms we track, from each bank's own rate pages. ✓ marks the better term.
| HDFC | ICICI | |
|---|---|---|
| Interest Rate Range | 9.99% – 24.00% p.a. | 9.99% p.a. onwards |
| Rate Type & Benchmark | Fixed rate | Fixed rate |
| Processing Fee | Up to ₹6,500 + GST (better) | Up to 2.50% + GST |
| Prepayment / Foreclosure Charges | 2% – 4% (after 12 EMIs; no pre-closure in year 1) | 3% – 5% (NIL after 24 EMIs) (better) |
| Typical Processing Time | 2 – 5 days (instant for pre-approved) | 1 – 3 days (instant for pre-approved) (better) |
| Maximum Tenure | 5 years | 6 years (better) |
| Maximum Loan Amount | ₹40 L | ₹50 L (better) |
| Insurance Bundling | Not required | Not required |
| Govt. Scheme Compatible | No | No |
Sources: hdfc.bank.in, icici.bank.in. Last verified 23 Aug 2026. We take no commission from either bank.
HDFC vs ICICI: EMI Difference
Monthly EMI at each bank's starting rate over 5 years.
| Loan amount | HDFC 9.99% | ICICI 9.99% | Difference / month | Over the loan |
|---|---|---|---|---|
| ₹2 lakh | ₹4,248 | ₹4,248 | ₹0 | ₹0 |
| ₹5 lakh | ₹10,621 | ₹10,621 | ₹0 | ₹0 |
| ₹10 lakh | ₹21,242 | ₹21,242 | ₹0 | ₹0 |
Starting rates go to the strongest credit profiles. Compare the rates you are actually offered: the gap can be wider or reverse.
Which Should You Choose?
Choose HDFC if…
Best for existing HDFC customers who may qualify for pre-approved instant disbursals, though foreclosure charges apply.
- you want the lower processing fee (Up to ₹6,500 + GST)
Choose ICICI if…
Best for existing ICICI customers seeking the highest loan limit (₹50 L) with NIL prepayment after 24 months.
- you may prepay or close early (3% – 5% (NIL after 24 EMIs))
- you need the money sooner (1 – 3 days (instant for pre-approved))
- you need a longer tenure (6 years)
- you need a larger loan (₹50 L)
Frequently Asked Questions
Which is better, HDFC or ICICI for a personal loan?
Both start at 9.99%. Across the 9 terms we compare, HDFC is better on 1 and ICICI on 4. HDFC suits existing HDFC customers who may qualify for pre-approved instant disbursals, though foreclosure charges apply. ICICI suits existing ICICI customers seeking the highest loan limit (₹50 L) with NIL prepayment after 24 months.
What is the EMI difference between HDFC and ICICI on ₹5 lakh?
Over 5 years, the EMI on ₹5 lakh is ₹10,621 at HDFC's 9.99% and ₹10,621 at ICICI's 9.99%: a difference of ₹0 a month, or ₹0 in total interest.
Which charges less to prepay, HDFC or ICICI?
HDFC: 2% – 4% (after 12 EMIs; no pre-closure in year 1). ICICI: 3% – 5% (NIL after 24 EMIs).
Which processes a personal loan faster?
HDFC typically takes 2 – 5 days (instant for pre-approved) and ICICI 1 – 3 days (instant for pre-approved), from complete documents to sanction.
Go Further
Other Comparisons
Educational information, not financial advice or a loan offer. Rates are as published by each bank on the verification date; your sanctioned rate depends on your credit profile. Confirm the final terms in the Key Facts Statement before you sign.