Key facts: Bank of Baroda vs HDFC Bank vs IDFC FIRST Bank personal loan
- Starting rate: Bank of Baroda 10.40%, HDFC Bank 9.99%, IDFC FIRST Bank 9.99%. This is the lowest rate each loan provider advertises for a personal loan, not the rate everyone is offered.
- Gap between starting rates: 0.41 percentage points between the lowest and the highest.
- Top of the published range: Bank of Baroda up to 17.75%.
- Maximum tenure: Bank of Baroda 7 years, IDFC FIRST Bank 5 years. HDFC Bank does not state one in months or years.
- Type of loan provider: Bank of Baroda is a public sector bank; HDFC Bank is a private bank; IDFC FIRST Bank is a private bank. Banks and NBFCs price floating rates differently.
- Official websites: bankofbaroda.bank.in, hdfc.bank.in, idfcfirstbank.com.
- Pages checked: 3 official pages opened for this loan type.
- Loan types with a published rate: Bank of Baroda 4, HDFC Bank 4, IDFC FIRST Bank 6 (out of 8 we track).
- EMI on ₹5 lakh over 5 years: Bank of Baroda ₹10,722, HDFC Bank ₹10,621, IDFC FIRST Bank ₹10,621 a month, at each starting rate.
- Total interest on the same loan: Bank of Baroda ₹1,43,332, HDFC Bank ₹1,37,264, IDFC FIRST Bank ₹1,37,264.
- Last checked: 12 October 2026, on each loan provider's own website.
Who each loan provider suits on a personal loan
Built only from figures the loan providers publish. It says where each one is ahead on paper, not who will approve you.
Pick Bank of Baroda if you want
- The longest maximum tenure (7 years)
Pick HDFC Bank if you want
- A joint-lowest published starting rate (9.99%)
Pick IDFC FIRST Bank if you want
- A joint-lowest published starting rate (9.99%)
- The most complete published terms for this loan (5 of 5 details)
Bank of Baroda vs HDFC Bank vs IDFC FIRST Bank personal loan: rate, fees and tenure
Starting personal loan rates as published: Bank of Baroda from 10.40%, HDFC Bank from 9.99% and IDFC FIRST Bank from 9.99%. HDFC Bank and IDFC FIRST Bank are lower at the starting rate, but the top of each range and your own credit profile decide what you are offered. Bank of Baroda lists the longer maximum tenure (84 months (govt employees with bob salary account)).
| Detail | Bank of Baroda | HDFC Bank | IDFC FIRST Bank |
|---|---|---|---|
| Published rate | Floating 10.40% to 17.75%; fixed 11.00% to 18.05% (varies by category and CIBIL) | Starting from 9.99% | Starts at 9.99% p.a. |
| Rate basis | Floating: Repo-linked (BRLLR) + spread; fixed: 1-year MCLR + spread | Not published | Reducing balance |
| Loan amount | Rs 1 lakh (metro/urban); Rs 0.50 lakh (rural/semi-urban) to Rs 20 lakh | Up to Rs 50 Lakh | ₹50,000 to ₹15 lakh |
| Maximum tenure | 84 months (govt employees with BoB salary account) | Not published | 60 months (min 9 months) |
| Processing fee | Nil for govt employees with BoB salary account; otherwise 1.00% to 2.00% + GST, min Rs 1,000 + GST, max Rs 10,000 + GST | Not published | 0% to 3.5% of loan amount (incl. GST) |
| Prepayment / foreclosure | Not published | Not published | Zero foreclosure charges |
| Eligibility (as published) | Min age 21; max age 60 (salaried) / 65 (non-salaried) incl. tenure; FOIR 40%-75%; rate linked to CIBIL, no minimum stated | Not published | Age 21-60; CIBIL 710 or above; salaried or self-employed |
| Other terms published |
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| Official source | bankofbaroda.bank.in/loans/personal-loan/baroda-personal-loan | hdfc.bank.in/personal-loan | idfcfirst.bank.in/personal-banking/loans/personal-loan |
EMI illustration: ₹5 lakh over 5 years
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Bank of Baroda | 10.40% | ₹10,722 | ₹1,43,332 | ₹6,43,332 |
| HDFC Bank | 9.99% | ₹10,621 | ₹1,37,264 | ₹6,37,264 |
| IDFC FIRST Bank | 9.99% | ₹10,621 | ₹1,37,264 | ₹6,37,264 |
Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.
Read the full guide: Personal loan
Bank of Baroda vs HDFC Bank vs IDFC FIRST Bank personal loan EMI by amount and tenure
Monthly EMI at each loan provider's lowest published rate, on a reducing balance. Fees, GST and insurance are not included, and your offered rate may be higher.
By loan amount, over 5 years
| Loan amount | Bank of Baroda (10.40%) | HDFC Bank (9.99%) | IDFC FIRST Bank (9.99%) |
|---|---|---|---|
| ₹1 lakh | ₹2,144 | ₹2,124 | ₹2,124 |
| ₹3 lakh | ₹6,433 | ₹6,373 | ₹6,373 |
| ₹5 lakh | ₹10,722 | ₹10,621 | ₹10,621 |
| ₹10 lakh | ₹21,444 | ₹21,242 | ₹21,242 |
| ₹20 lakh | ₹42,889 | ₹42,484 | ₹42,484 |
By tenure, on ₹5 lakh
| Tenure | Bank of Baroda (10.40%) | HDFC Bank (9.99%) | IDFC FIRST Bank (9.99%) |
|---|---|---|---|
| 1 year | ₹44,051 interest ₹28,612 | ₹43,956 interest ₹27,467 | ₹43,956 interest ₹27,467 |
| 2 years | ₹23,165 interest ₹55,957 | ₹23,070 interest ₹53,684 | ₹23,070 interest ₹53,684 |
| 3 years | ₹16,228 interest ₹84,196 | ₹16,131 interest ₹80,725 | ₹16,131 interest ₹80,725 |
| 5 years | ₹10,722 interest ₹1,43,332 | ₹10,621 interest ₹1,37,264 | ₹10,621 interest ₹1,37,264 |
| 7 years | ₹8,404 interest ₹2,05,961 | ₹8,298 interest ₹1,97,033 | Above its stated maximum |
A longer tenure lowers the EMI and raises the total interest. Pick the shortest tenure your monthly budget can carry.
What each loan provider publishes about its personal loan
Bank of Baroda
Public sector bank · Bank of Baroda
- How the rate is set: Floating: Repo-linked (BRLLR) + spread; fixed: 1-year MCLR + spread
- Eligibility as published: Min age 21; max age 60 (salaried) / 65 (non-salaried) incl. tenure; FOIR 40%-75%; rate linked to CIBIL, no minimum stated
- Floating and fixed rate options
- Loan up to Rs 20 lakh
- Tenure up to 84 months for eligible govt employees
- Repayment via cheque, bank transfer or cash
HDFC Bank
Private bank · HDFC Bank Limited
- Zero documentation
- Quick approval
- Flexible tenure
IDFC FIRST Bank
Private bank · IDFC FIRST Bank Limited
- How the rate is set: Reducing balance
- Eligibility as published: Age 21-60; CIBIL 710 or above; salaried or self-employed
- Zero foreclosure charges
- Tenure 9 to 60 months
- Disbursal in as little as 10 minutes after approval
- Multiple on-demand loans within approved offer
Before you apply for a personal loan
- Credit score: Your score decides where you land between the starting rate and the top of the range. A lower score can push the offer well above the advertised rate.
- Insurance and add-ons: Loan insurance and other bundled products are usually optional. Ask for them to be removed if you do not want them.
- Total repayable amount: Compare the APR and the total you will repay, both shown in the Key Fact Statement, not only the monthly EMI.
- Existing EMIs: Loan providers look at how much of your monthly income already goes to EMIs. Closing a small loan first can improve the offer.
RBI requires every loan provider to hand you a Key Fact Statement before you sign. It shows the rate, every fee, the APR and the total you will repay.
Terms used on this page
Plain meanings of the terms this comparison uses.
Starting rate: The lowest rate a loan provider advertises for a product. Most borrowers are offered a higher rate, because the final rate depends on credit score, income, employer and loan amount.
APR: Annual percentage rate. It adds the processing fee and other charges to the interest rate, so it shows the yearly cost of the loan better than the interest rate alone.
Key Fact Statement: A short summary the loan provider gives you before you sign. It lists the interest rate, every fee, the APR and the total amount you will repay. RBI requires it for retail loans.
Floating rate and repo rate: A floating rate moves with a benchmark, and for banks that is usually the RBI repo rate, the rate at which RBI lends to banks. A fixed rate stays the same for the period you agree.
Processing fee: A one-time charge for handling the application. It is usually a percentage of the loan amount plus GST, and it is often deducted before the money reaches you.
Credit score: A number from 300 to 900 that shows how you have repaid past loans and cards. A higher score usually gets you a lower rate.
Sources and last check
Every figure above is read from the loan provider's own website and was checked on 12 October 2026. A blank means the page does not show that figure, and we never estimate one.
- Bank of Baroda: bankofbaroda.bank.in/loans/personal-loan/baroda-personal-loan
- HDFC Bank: hdfc.bank.in/personal-loan
- IDFC FIRST Bank: idfcfirst.bank.in/personal-banking/loans/personal-loan
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More personal loan comparisons
Bank of Baroda vs HDFC Bank vs IDFC FIRST Bank: every loan type on one page · All personal loan comparisons · Personal loan guide · Personal loan EMI calculator
Head to head, two at a time
Looking at a car or two-wheeler loan instead? Compare vehicle loans by bank.
Frequently asked questions
Which is better for a personal loan: Bank of Baroda, HDFC Bank or IDFC FIRST Bank?
HDFC Bank and IDFC FIRST Bank share the lowest published starting personal loan rate at 9.99%, against 10.40% at Bank of Baroda. On ₹5 lakh over 5 years the difference in total interest is ₹6,068. Rate is only one part of the cost, so also compare the processing fee, the prepayment terms and the total repayable amount in the Key Fact Statement.
Which has the lower personal loan interest rate: Bank of Baroda, HDFC Bank or IDFC FIRST Bank?
HDFC Bank and IDFC FIRST Bank share the lowest published starting personal loan rate at 9.99%, against 10.40% at Bank of Baroda. The published ranges run to Bank of Baroda up to 17.75%, so the rate you are offered can sit well above the starting rate.
What is the personal loan processing fee at Bank of Baroda, HDFC Bank and IDFC FIRST Bank?
Bank of Baroda: Nil for govt employees with BoB salary account; otherwise 1.00% to 2.00% + GST, min Rs 1,000 + GST, max Rs 10,000 + GST. HDFC Bank: not published. IDFC FIRST Bank: 0% to 3.5% of loan amount (incl. GST). Fees can change, so confirm the amount in rupees, with GST, before you accept.
What is the maximum personal loan tenure at Bank of Baroda, HDFC Bank and IDFC FIRST Bank?
Bank of Baroda: 84 months (govt employees with BoB salary account). HDFC Bank: not published. IDFC FIRST Bank: 60 months (min 9 months). A longer tenure lowers the EMI and raises the total interest.
Can I prepay or foreclose a personal loan early at Bank of Baroda, HDFC Bank and IDFC FIRST Bank?
Bank of Baroda: not published. HDFC Bank: not published. IDFC FIRST Bank: Zero foreclosure charges. Ask whether the rate on your loan is fixed or floating, because the charges depend on it.
What is the EMI on a ₹5 lakh personal loan at Bank of Baroda, HDFC Bank and IDFC FIRST Bank?
Over 5 years at each loan provider's lowest published rate the monthly EMI is ₹10,722 at Bank of Baroda, ₹10,621 at HDFC Bank and ₹10,621 at IDFC FIRST Bank. This leaves out processing fees, GST and insurance, and your approved rate may be higher.
Who is eligible for a personal loan at Bank of Baroda, HDFC Bank and IDFC FIRST Bank?
Bank of Baroda: Min age 21; max age 60 (salaried) / 65 (non-salaried) incl. tenure; FOIR 40%-75%; rate linked to CIBIL, no minimum stated. HDFC Bank: not published. IDFC FIRST Bank: Age 21-60; CIBIL 710 or above; salaried or self-employed. Each loan provider can ask for more documents once you apply.
Are Bank of Baroda, HDFC Bank and IDFC FIRST Bank regulated by the RBI?
Yes. Bank of Baroda is a public sector bank, HDFC Bank is a private bank, IDFC FIRST Bank is a private bank, and all lend under RBI rules, including the requirement to give you a Key Fact Statement before you sign.
Where do these personal loan figures come from?
From the official pages of Bank of Baroda, HDFC Bank and IDFC FIRST Bank, opened and checked on 12 October 2026. The sources are listed at the bottom of this page. We show a blank where a loan provider does not publish a figure, and we do not estimate one.
KhatuLoans is not a loan provider and is not paid by the loan providers named here to rank them. Rates, fees and eligibility change; always confirm with the loan provider. Read our editorial policy and how we make money.