SBI vs HDFC Personal Loan
SBI's Xpress Credit and HDFC Bank's personal loan are two of India's largest unsecured retail loan products. They target overlapping but not identical borrower profiles. Here's the comparison in detail.
Option A
SBI (Xpress Credit)
India's largest PSU bank; nil foreclosure on floating rate.
Option B
HDFC Bank
India's largest private-sector personal loan issuer; 10-second insta-loan.
Side-by-side comparison
| Feature | SBI (Xpress Credit) | HDFC Bank |
|---|---|---|
| Starting interest rate | 11.15% p.a. | 10.75% p.a. |
| Maximum loan amount | Up to ₹35 lakh | Up to ₹40 lakh |
| Tenure | 6 to 72 months | 12 to 72 months |
| Processing fee | 1.5% (max ₹15,000) | Up to 2.5% (max ₹25,000) |
| Foreclosure (floating) | Nil | 2-4% |
| Part-payment | Allowed after 6 EMIs (nil charge) | Allowed after 12 EMIs |
| Salary account requirement | SBI preferred (or empanelled) | Not mandatory |
| Best-in-class for | Govt / PSU / defence employees | Private sector, digital-first users |
| Disbursal speed | 2-4 days (instant on YONO for pre-approved) | 10 seconds for pre-approved; 2-5 days otherwise |
| Minimum income (metro) | ₹25,000/month | ₹25,000/month |
Our verdict
For a private-sector salaried applicant with a strong credit score, HDFC wins on starting rate and processing speed. For a government, PSU, or defence employee, SBI is nearly always cheaper because of the lower processing fee, nil foreclosure charges on floating-rate loans, and the fact that free part-payment is allowed after just 6 EMIs. The choice is genuinely profile-dependent - both are safe, RBI-regulated scheduled commercial banks.