SBI vs HDFC personal loan
At typical rates SBI (11.5%) is 0.5 points cheaper than HDFC (12%): about ₹ 119 less a month on ₹ 5 Lakhs over 3 years, and ₹ 4.29 Thousand less interest. Rate bands checked against both lenders' public cards on 10 Oct 2026 and 11 Oct 2026.
What you'll learn:
- SBI and HDFC personal loan rates side by side
- What the gap costs on your loan
- Complaints and borrower reports
Compare Offers
Enter both offers to compare.
SBI or HDFC personal loan: which is better?
SBI's personal loan is built for salaried borrowers. It is priced at its two-year MCLR plus a spread, 10% to 15%, and its disclosure puts the average rate actually charged at 11.54% in April to June 2026. HDFC starts a shade lower at 9.99% but stretches to 24%, so it can be the most or the least expensive of the two depending on your score and employer.
Fees are structured differently. SBI charges up to 1.5%, capped at ₹15,000. HDFC charges a flat fee of up to ₹6,500, which is cheaper on larger loans.
The bigger gap is getting out early. HDFC charges 4% to close the loan in the first 24 EMIs, 3% up to 36 and 2% after. SBI does not publish its charge. If you might repay early, get that figure from SBI in writing.
Pick SBI if
- you are salaried with a steady employer, where SBI's band is tight
- you want a rate that stays close to the published average
Pick HDFC if
- you work for an employer HDFC rates highly and get offered near its floor
- you are borrowing a large amount, where HDFC's flat fee is cheaper
- HDFC has pre-approved you at a rate near its floor
SBI vs HDFC personal loan comparison
The compare loan offers calculator above opens with each lender's typical personal loan rate on ₹ 5 Lakhs over 3 years. Add the processing fee from each quote to compare total cost, not just EMI, then model your own loan on the personal loan EMI calculator.
| Measure | SBI | HDFC |
|---|---|---|
| Rate band | 10% to 15% | 9.99% to 24% |
| Starting rate | 10% | 9.99% |
| Typical rate we model | 11.5% | 12% |
| EMI at starting rate (₹ 5 Lakhs, 3 yrs) | ₹ 16,134 | ₹ 16,131 |
| EMI at typical rate | ₹ 16,488 | ₹ 16,607 |
| EMI at top of band | ₹ 17,333 | ₹ 19,616 |
| Total interest at typical rate | ₹ 93.6 Thousand | ₹ 97.9 Thousand |
| Processing fee on ₹ 5 Lakhs | Up to ₹ 7,500 | Up to ₹ 6,500 |
| Interest + fee, full term | ₹ 1.01 Lakhs | ₹ 1.04 Lakhs |
| Longest tenure | 84 months | Not published |
| Prepayment charge | Not published | 4% up to 24 EMIs, 3% for 25–36, 2% after |
| Card checked | 11 Oct 2026 | 10 Oct 2026 |
SBI: 2-year MCLR 8.75% + 1.25% to 6.25%; mean rate 11.54% in Q1 FY 2026-27. HDFC: Unsecured; wide spread by credit score and employer. Fees are before 18% GST and come from each lender's fee page, checked 11 Oct 2026; SBI charges up to 1.5%, min ₹1,000, max ₹15,000; HDFC charges up to ₹6,500 flat. Where a lender publishes only a ceiling ("up to"), the calculator opens with no fee on either side; enter the ones on your quotes.
What the gap costs at different loan amounts
Typical rates (SBI 11.5%, HDFC 12%). 3 years, reducing balance.
| Loan | SBI EMI | HDFC EMI | Monthly gap | Interest gap, full term |
|---|---|---|---|---|
| ₹ 2 Lakhs | ₹ 6,595 | ₹ 6,643 | ₹ 48 | ₹ 1.72 Thousand |
| ₹ 5 Lakhs | ₹ 16,488 | ₹ 16,607 | ₹ 119 | ₹ 4.29 Thousand |
| ₹ 10 Lakhs | ₹ 32,976 | ₹ 33,214 | ₹ 238 | ₹ 8.58 Thousand |
| ₹ 20 Lakhs | ₹ 65,952 | ₹ 66,429 | ₹ 477 | ₹ 17.2 Thousand |
Complaints record
SBI's complaints fell 26% in 2025-26 to 21,09,520, but those about loans rose 68% to 26,102. HDFC's complaints rose 37% in 2025-26 to 6,27,805, and those about loans rose 35% to 87,341.
| FY 2025-26 | SBI | HDFC |
|---|---|---|
| Complaints received | 21,09,520 (-26%) | 6,27,805 (+37%) |
| Escalated to the RBI Ombudsman | 24,356 (-11%) | 18,381 (+35%) |
| About loans and advances | 26,102 (+68%) | 87,341 (+35%) |
Bigger lenders log more because they have more customers, so read the trend, not the raw count. HDFC leaves out complaints redressed within one working day, and duplicates. Read the trend and the ombudsman share rather than ranking banks on the raw count. Sources: SBI Annual Report 2025-26, pp. 264–265 (Schedule 18, note 18.11); HDFC Bank Integrated Annual Report 2025-26, pp. 312–313 (Annexure 6).
What borrowers report
| Lender | App | Google Play rating |
|---|---|---|
| SBI | YONO SBI | 4.2★ from 30.7 lakh ratings |
| HDFC | HDFC Bank Home Loans (loan app) | 2.6★ from 32.7K ratings |
| HDFC | HDFC Bank App | 4.6★ from 14 lakh ratings |
Ratings read on 11 Oct 2026.
SBI: recurring themes
- Complaint: Slow home-loan processing: borrowers describe gaps between sanction and disbursal, and being passed between the branch and SBI's loan processing centre (RACPC). (Moneylife, ConsumerComplaints.in)
Themes are listed only when two independent sources (court rulings, news or complaint forums) agree; treat them as things to check, not a verdict. For HDFC we found no loan theme that met that bar.
What to ask before you sign
- SBI: the foreclosure charge, which it does not publish
- HDFC: the rate for your employer category, given how wide its band is
Then put both written quotes, with their fees, into the calculator at the top of this page, and try a prepayment on the personal loan EMI calculator to see how the gap changes if you pay early.
More on each lender: the SBI EMI calculator and the HDFC EMI calculator, each with its full rate card by loan type. Every lender's personal loan rate and fee is on the personal loan interest rates page.
Other comparisons
- HDFC vs ICICI personal loan
- SBI vs HDFC home loan
- SBI vs LIC Housing Finance home loan
- SBI vs ICICI home loan
Sources
The lender pages behind the rate bands, and RBI's disclosure rules. This site does not update rates in real time; check the effective date on each card.
- SBI Home Loans Interest Rates (Current)Official home-loan card, starting band, and effective-date notes.
- SBI Personal Loan scheme interest ratesMCLR-linked personal-loan spreads and effective rate bands.
- SBI auto loan interest ratesCar loan rates by CIBIL score and tenure.
- SBI education loan interest ratesStudent Loan Scheme, Scholar, and Global Ed-Vantage rates.
- SBI personal loan fees and chargesProcessing fee, tenure and prepayment terms used in the table above.
- HDFC Bank home loan interest ratesOfficial starting band, repo benchmark print, and adjustable vs TruFixed explanation.
- HDFC personal loan fees and chargesProcessing fee, tenure and prepayment terms used in the table above.
- RBI notifications indexKey Facts Statement and retail-lending disclosure rules for rate, fees, and EMI.
- RBI (Pre-payment Charges on Loans) Directions, 2025When regulated lenders may not levy pre-payment charges on floating-rate individual loans for non-business purposes.
Last updated on 11 Oct 2026.