Head to head · verified 23 Aug 2026
SBI vs HDFC Personal Loan: Rates, EMI & Fees
SBI's personal loan starts at 10.00% and HDFC's at 9.99% p.a. (verified 23 Aug 2026). On ₹5 lakh over 5 years, HDFC's starting rate saves ₹3 a month and ₹147 in interest over the loan.
A floating MCLR-linked PSU loan with no foreclosure charge against a fixed-rate private loan that disburses in days.
SBI EMI · ₹5 lakh
₹10,624
At 10.00%, 5 years
HDFC 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.
| SBI | HDFC | |
|---|---|---|
| Interest Rate Range | 10.00% – 15.00% p.a. | 9.99% – 24.00% p.a. (better) |
| Rate Type & Benchmark | Floating / MCLR-linked | Fixed rate |
| Processing Fee | 1.5% (min ₹1,000 · max ₹15,000) | Up to ₹6,500 + GST (better) |
| Prepayment / Foreclosure Charges | NIL (better) | 2% – 4% (after 12 EMIs; no pre-closure in year 1) |
| Typical Processing Time | 3 – 7 days | 2 – 5 days (instant for pre-approved) (better) |
| Maximum Tenure | 6 years (better) | 5 years |
| Maximum Loan Amount | ₹20 L | ₹40 L (better) |
| Insurance Bundling | Not required | Not required |
| Govt. Scheme Compatible | No | No |
Sources: sbi.bank.in, hdfc.bank.in. Last verified 23 Aug 2026. We take no commission from either bank.
SBI vs HDFC: EMI Difference
Monthly EMI at each bank's starting rate over 5 years.
| Loan amount | SBI 10.00% | HDFC 9.99% | Difference / month | Over the loan |
|---|---|---|---|---|
| ₹2 lakh | ₹4,249 | ₹4,248 | ₹1 | ₹60 |
| ₹5 lakh | ₹10,624 | ₹10,621 | ₹3 | ₹147 |
| ₹10 lakh | ₹21,247 | ₹21,242 | ₹5 | ₹295 |
Starting rates go to the strongest credit profiles. Compare the rates you are actually offered: the gap can be wider or reverse.
At the top of each bank's published range (SBI 15.00%, HDFC 24.00%), the ₹5 lakh EMI is ₹11,895 vs ₹14,384. If your credit score is below 750, these are closer to what to expect.
Which Should You Choose?
Choose SBI if…
Best for government or PSU employees — NIL prepayment charges and access to SBI Xpress Credit at low rates.
- you may prepay or close early (NIL)
- you need a longer tenure (6 years)
Choose HDFC if…
Best for existing HDFC customers who may qualify for pre-approved instant disbursals, though foreclosure charges apply.
- you qualify for the lower starting rate (9.99% – 24.00% p.a.)
- you want the lower processing fee (Up to ₹6,500 + GST)
- you need the money sooner (2 – 5 days (instant for pre-approved))
- you need a larger loan (₹40 L)
Frequently Asked Questions
Which is better, SBI or HDFC for a personal loan?
HDFC has the lower starting rate (9.99% vs 10.00%). Across the 9 terms we compare, SBI is better on 2 and HDFC on 4. SBI suits government or PSU employees — NIL prepayment charges and access to SBI Xpress Credit at low rates. HDFC suits existing HDFC customers who may qualify for pre-approved instant disbursals, though foreclosure charges apply.
What is the EMI difference between SBI and HDFC on ₹5 lakh?
Over 5 years, the EMI on ₹5 lakh is ₹10,624 at SBI's 10.00% and ₹10,621 at HDFC's 9.99%: a difference of ₹3 a month, or ₹147 in total interest.
Which charges less to prepay, SBI or HDFC?
SBI: NIL. HDFC: 2% – 4% (after 12 EMIs; no pre-closure in year 1).
Which processes a personal loan faster?
SBI typically takes 3 – 7 days and HDFC 2 – 5 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.