HDFC vs ICICI Personal Loan
HDFC Bank and ICICI Bank are India's two largest private-sector personal-loan lenders. Both offer digital, near-instant disbursal to pre-approved customers. The differences are in the fine print - part-payment rules, foreclosure fees, and rate tiers.
Option A
HDFC Bank
India's largest personal-loan issuer with 10-second insta-loan.
Option B
ICICI Bank
Fully digital iMobile flow with high loan-amount caps.
Side-by-side comparison
| Feature | HDFC Bank | ICICI Bank |
|---|---|---|
| Starting interest rate | 10.75% p.a. | 10.85% p.a. |
| Maximum loan amount | ₹40 lakh | ₹50 lakh |
| Tenure | 12 to 72 months | 12 to 72 months |
| Processing fee | Up to 2.5% (max ₹25,000) | Up to 2.5% (max ₹25,000) |
| Foreclosure charges | 2-4% of outstanding | 5% of outstanding |
| Part-payment allowed | Yes, after 12 EMIs | Not allowed |
| Pre-approved offer | 10-second insta-loan | iMobile Insta-loan |
| Minimum income (metro) | ₹25,000/month | ₹40,000/month |
| Bounce charge | ₹550 | ₹500 |
Our verdict
For most salaried borrowers, HDFC Bank has the edge - lower minimum income, slightly cheaper rate, and, crucially, the ability to make part-payments. ICICI Bank's no-part-payment policy is a genuine drawback if you get an annual bonus you want to deploy. Choose ICICI if you need a larger loan (up to ₹50 lakh) or already have your salary account with them.
Rate comparison in practice
Frequently Asked Questions
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