Key takeaways: Chola vs Hero FinCorp vs IDFC FIRST Bank
- IDFC FIRST Bank advertises the lowest starting car loan rate here, 8.99%, compared with 9% at Chola and 9% at Hero FinCorp.
- On a two-wheeler loan, IDFC FIRST Bank has the lowest published starting rate at 9%, against 15% at Chola and 14% at Hero FinCorp.
- All of them publish a numeric starting rate for: car loan and two-wheeler loan. That is the part of this page you can rank like for like.
- No numeric starting rate on the loan provider's own site: Chola for personal loan and home loan, Hero FinCorp for home loan and IDFC FIRST Bank for home loan. We show "Not published" instead of estimating.
- A starting rate is the best case. Ask each loan provider for its Key Fact Statement and compare the APR and total repayable amount before you choose.
Quick verdict: who each loan provider suits
Built only from figures the loan providers publish. It says where each loan provider is ahead on paper, not who will approve you.
Where Chola stands
No clear edge on the published figures we could compare. Check the product sections below and the Key Fact Statement.
Where Hero FinCorp stands
No clear edge on the published figures we could compare. Check the product sections below and the Key Fact Statement.
Pick IDFC FIRST Bank if you want
- The lower published starting car loan rate (8.99%)
- The lower published starting two-wheeler loan rate (9%)
Chola vs Hero FinCorp vs IDFC FIRST Bank at a glance
| Detail | Chola | Hero FinCorp | IDFC FIRST Bank |
|---|---|---|---|
| Loan provider type | NBFC | NBFC | Private bank |
| Legal name | Cholamandalam Investment and Finance Company Limited | Hero FinCorp Limited | IDFC FIRST Bank Limited |
| Loan types with a published rate | Car loan, Two-wheeler loan | Personal loan, Loan against property, Business loan, Education loan, Car loan, Two-wheeler loan | Personal loan, Loan against property, Business loan, Education loan, Car loan, Two-wheeler loan |
| Personal loan: published rate | Not published | Starting from 17.9% p.a. | Starts at 9.99% p.a. |
| Personal loan: maximum tenure | Not published | Not published | 60 months (min 9 months) |
| Home loan: published rate | Not published | Not published | Not stated as current rate (page shows indicative 7.75% p.a. comparison) |
| Home loan: maximum tenure | Not published | Not published | Up to 32 years salaried / 25 years self-employed |
| Official website | chola.com | herofincorp.com | idfcfirstbank.com |
Searching for IDFC FIRST Bank vs Hero FinCorp vs Chola instead? It is the same comparison, so both open this page.
Chola vs Hero FinCorp vs IDFC FIRST Bank personal loan: rate, fees and tenure
Starting personal loan rates as published: Hero FinCorp from 17.90% and IDFC FIRST Bank from 9.99%. IDFC FIRST Bank is lower at the starting rate, but the top of each range and your own credit profile decide what you are offered. Chola has no personal loan terms we could verify on its official site.
| Detail | Chola | Hero FinCorp | IDFC FIRST Bank |
|---|---|---|---|
| Published rate | Not published | Starting from 17.9% p.a. | Starts at 9.99% p.a. |
| Rate basis | Not published | Not published | Reducing balance |
| Loan amount | Not published | Not published | ₹50,000 to ₹15 lakh |
| Maximum tenure | Not published | Not published | 60 months (min 9 months) |
| Processing fee | Not published | Minimum 2.5% + GST, deducted at disbursal (non-refundable) | 0% to 3.5% of loan amount (incl. GST) |
| Prepayment / foreclosure | Not published | Prepayment charges: not applicable. Foreclosure: 5% + GST on outstanding principal | Zero foreclosure charges |
| Eligibility (as published) | Not published | Not published | Age 21-60; CIBIL 710 or above; salaried or self-employed |
| Other terms published | Not published |
|
|
| Official source | Not published | herofincorp.com/personal-loan-fees-and-charges | 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 |
|---|---|---|---|---|
| Hero FinCorp | 17.90% | ₹12,670 | ₹2,60,172 | ₹7,60,172 |
| 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
Chola vs Hero FinCorp vs IDFC FIRST Bank loan against property: rate, fees and tenure
Starting loan against property rates as published: Hero FinCorp from 11% and IDFC FIRST Bank from 8.75%. IDFC FIRST Bank is lower at the starting rate, but the top of each range and your own credit profile decide what you are offered. IDFC FIRST Bank lists the longer maximum tenure (up to 25 years). Chola has no loan against property terms we could verify on its official site.
| Detail | Chola | Hero FinCorp | IDFC FIRST Bank |
|---|---|---|---|
| Published rate | Not published | 11% to 17% | 8.75% p.a. (per page title) |
| Rate basis | Not published | Reducing balance | Not published |
| Loan amount | Not published | Up to ₹7.5 Cr | Up to ₹15 crore |
| Maximum tenure | Not published | Up to 10 years | Up to 25 years |
| Processing fee | Not published | 1% + GST | Not published |
| Prepayment / foreclosure | Not published | Percentage-based part-prepayment and pre-closure charges mentioned; rates not stated | Not published |
| Eligibility (as published) | Not published | Age 25 to 75 years; stable income; CIBIL 750+ preferred | Not published |
| Other terms published | Not published |
|
|
| Official source | Not published | herofincorp.com/loan-against-property-interest-rates | idfcfirst.bank.in/personal-banking/loans/loan-against-property |
EMI illustration: ₹25 lakh over 10 years
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Hero FinCorp | 11% | ₹34,438 | ₹16,32,500 | ₹41,32,500 |
| IDFC FIRST Bank | 8.75% | ₹31,332 | ₹12,59,803 | ₹37,59,803 |
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: Loan against property
Chola vs Hero FinCorp vs IDFC FIRST Bank business loan: rate, fees and tenure
Starting business loan rates as published: Hero FinCorp from 14% and IDFC FIRST Bank from 13%. IDFC FIRST Bank is lower at the starting rate, but the top of each range and your own credit profile decide what you are offered. Chola has no business loan terms we could verify on its official site.
| Detail | Chola | Hero FinCorp | IDFC FIRST Bank |
|---|---|---|---|
| Published rate | Not published | Starting from 14% p.a.; up to maximum 30% | Starting at 13% p.a. |
| Rate basis | Not published | Fixed or floating options | Fixed for term loan; dropline overdraft interest on utilised amount |
| Loan amount | Not published | Rs. 5 Lakh to Rs. 50 Lakh | ₹7 lakh to ₹1 crore |
| Maximum tenure | Not published | 4 years (minimum 1 year) | 48 months (min 12 months) |
| Processing fee | Not published | Per Sanction Letter cum KFS; FAQ says typically up to 2.5% of loan amount | Up to 3.5% of loan amount (term loan) plus GST |
| Prepayment / foreclosure | Not published | Not allowed in 12-month lock-in; after that 5% + taxes on outstanding principal | Not published |
| Eligibility (as published) | Not published | Not published | MSMEs, proprietors, partnerships, LLPs, companies; age 28-68 at maturity; turnover ₹1 crore or more; 3 years vintage |
| Other terms published | Not published |
|
|
| Official source | Not published | herofincorp.com/business-loan-interest-rates | idfcfirst.bank.in/business-banking/loans/business-loan |
Read the full guide: Business loan
Chola vs Hero FinCorp vs IDFC FIRST Bank education loan: rate, fees and tenure
Starting education loan rates as published: Hero FinCorp from 17.90% and IDFC FIRST Bank from 9.50%. IDFC FIRST Bank is lower at the starting rate, but the top of each range and your own credit profile decide what you are offered. IDFC FIRST Bank lists the longer maximum tenure (up to 15 years). Chola has no education loan terms we could verify on its official site.
| Detail | Chola | Hero FinCorp | IDFC FIRST Bank |
|---|---|---|---|
| Published rate | Not published | Starting from 17.9% p.a. (personal loan for students) | Secured 9.5% to 11.25% p.a.; unsecured 11.75% to 14% p.a. |
| Rate basis | Not published | Not published | Floating, repo-linked |
| Loan amount | Not published | ₹50,000 to ₹7 lakh | ₹1 lakh to ₹2 crore (collateral-free up to ₹1.5 crore) |
| Maximum tenure | Not published | 36 months | Up to 15 years |
| Processing fee | Not published | Minimum 2.5% + GST | Nil up to ₹7.5 lakh; above that up to 1.5% of loan amount |
| Prepayment / foreclosure | Not published | Prepayment: not applicable. Foreclosure: 5% + GST on outstanding principal | Nil; no charge on foreclosure or part-payment |
| Eligibility (as published) | Not published | Age 21-58; salaried or self-employed; min net monthly income ₹15,000; CIBIL 725+ preferred | Indian nationals incl. NRIs; age 18+; admission to authorised institution; co-applicant required |
| Other terms published | Not published |
|
|
| Official source | Not published | herofincorp.com/personal-loans/education-loan | idfcfirst.bank.in/personal-banking/loans/education-loan |
Read the full guide: Education loan
Chola vs Hero FinCorp vs IDFC FIRST Bank vehicle loans
IDFC FIRST Bank advertises the lowest starting car loan rate here, 8.99%, compared with 9% at Chola and 9% at Hero FinCorp. On a two-wheeler loan, IDFC FIRST Bank has the lowest published starting rate at 9%, against 15% at Chola and 14% at Hero FinCorp.
| Detail | Chola | Hero FinCorp | IDFC FIRST Bank |
|---|---|---|---|
| Car loan: published rate | 9% - 20% p.a. | 9% - 18% p.a. | From 8.99% |
| Car loan: maximum tenure | Not published | 120 months | 10 years (120 months) |
| Car loan: processing fee | 0.5% - 2.5% + sourcing fee Rs 1,000 - 2,500 | Up to 3% of loan amount | Up to 5% of loan amount (incl. GST) |
| Two-wheeler loan: published rate | 15% - 28% p.a. | 14% - 36% p.a. | From 9% |
| Two-wheeler loan: maximum tenure | Not published | 60 months | 60 months |
| Two-wheeler loan: processing fee | 0.75% - 5% + sourcing fee Rs 500 - 2,500 | Varies by approved loan; no figure published | Up to 5% (product page advertises zero processing fees) |
Full vehicle loan comparison for Chola vs Hero FinCorp vs IDFC FIRST Bank (all vehicle types, EMI tables and sources) · Vehicle loans guide
Which is better: Chola, Hero FinCorp or IDFC FIRST Bank?
No loan provider is best for everyone. This is how the published figures split, product by product.
- Car loan, lower starting rate: IDFC FIRST Bank (8.99%) versus 9% at Chola and 9% at Hero FinCorp.
- Two-wheeler loan, lower starting rate: IDFC FIRST Bank (9%) versus 15% at Chola and 14% at Hero FinCorp.
- Loan against property, longer maximum tenure: IDFC FIRST Bank (up to 25 years). A longer tenure lowers the EMI but raises total interest.
- Education loan, longer maximum tenure: IDFC FIRST Bank (up to 15 years). A longer tenure lowers the EMI but raises total interest.
Pick on total cost, not the headline rate: ask each loan provider for the Key Fact Statement and compare the APR and total repayable amount. A low rate with a high processing fee can cost more than a slightly higher rate with no fee. If you already bank with one of them, a salary or relationship account can change the rate you are offered, so ask.
Bank type and how each loan provider sets its rate
Chola and Hero FinCorp are NBFCs and IDFC FIRST Bank is a private bank.
How the loan providers' own pages say their rates are set:
- IDFC FIRST Bank personal loan: Reducing balance.
- IDFC FIRST Bank home loan: Floating, repo-linked.
Public sector banks, private banks and non-banking finance companies (NBFCs) price differently. Banks usually link floating rates to the RBI repo rate or their own benchmark and add a spread based on your credit score; NBFCs more often quote a wider range with a higher ceiling and charge higher processing fees. Some publish a range, some only a starting rate and some only a ceiling, which is why this page compares like with like and marks every gap as not published instead of guessing.
About Chola, Hero FinCorp and IDFC FIRST Bank
Chola
NBFC · Cholamandalam Investment and Finance Company Limited
We could not verify personal, home, business, gold, education or property loan terms on this loan provider's website; its vehicle loan terms are compared below.
Hero FinCorp
NBFC · Hero FinCorp Limited
We found terms for personal loan, loan against property, business loan and education loan on Hero FinCorp's website. Where a rate is missing, the tables on this page say Not published.
Lowest published starting rate on this page: 11% (Loan against property)
IDFC FIRST Bank
Private bank · IDFC FIRST Bank Limited
We found terms for personal loan, home loan, loan against property, business loan, gold loan and education loan on IDFC FIRST Bank's website. Where a rate is missing, the tables on this page say Not published.
Lowest published starting rate on this page: 8.75% (Loan against property)
Explore each loan provider: loans, calculators and more comparisons
Chola
More comparisons
Hero FinCorp
- Hero FinCorp vehicle loans
- Hero FinCorp car loan
- Hero FinCorp used car loan
- Hero FinCorp two-wheeler loan
More comparisons
Guides: Personal loans · Home loans · Car loan · Car loan EMI calculator · EMI calculators
What to check before you choose a loan provider
- Ask for the Key Fact Statement (KFS). RBI requires loan providers to give you one before you sign, showing the interest rate, all fees, the APR and the total amount you will repay.
- Compare APR, not the headline rate. Processing fee, documentation charges and insurance change the real cost.
- Check the rate basis. A floating rate moves with the loan provider's benchmark; a fixed rate does not. Ask when the rate resets.
- Ask about prepayment and foreclosure. Floating-rate loans to individuals cannot carry pre-closure charges; fixed-rate loans often do.
- Read the eligibility and documents. Income, credit score, employment type and collateral decide the rate band you land in.
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, method and last check
Every figure above comes from the loan provider's own website. We checked them on 12 October 2026 (vehicle loan figures on 4 October 2026) and list the pages used.
- Chola: cholamandalam.com/get-new-car-loans · files.cholamandalam.com/files/Interest+Rate+Policy+-+Mar2026.pdf · cholamandalam.com/get-two-wheeler-loans
- Hero FinCorp: herofincorp.com/personal-loan-fees-and-charges · herofincorp.com/loan-against-property-interest-rates · herofincorp.com/business-loan-interest-rates · herofincorp.com/personal-loans/education-loan · herofincorp.com/new-car-loan · herofincorp.com/two-wheeler-loan-interest-rates
- IDFC FIRST Bank: idfcfirst.bank.in/personal-banking/loans/personal-loan · idfcfirst.bank.in/personal-banking/loans/home-loan · idfcfirst.bank.in/personal-banking/loans/loan-against-property · idfcfirst.bank.in/business-banking/loans/business-loan · idfcfirst.bank.in/personal-banking/loans/gold-loan · idfcfirst.bank.in/personal-banking/loans/education-loan
| Loan provider | Official pages opened | Loan types with a published rate | Loan types where rate is not published | Last checked |
|---|---|---|---|---|
| Chola | 3 | 2 | 6 | 12 October 2026 |
| Hero FinCorp | 7 | 6 | 2 | 12 October 2026 |
| IDFC FIRST Bank | 10 | 6 | 2 | 12 October 2026 |
A "not published" count means we opened the loan provider's page for that product and the rate was not shown there, or the loan provider has no such page on its site. If you spot an error, tell us and we will correct it.
Method: we list only figures we could read on the loan provider's official pages. A blank means the loan provider does not publish that figure on the page we checked, and we never estimate one. Rankings use the published starting rate and published maximum tenure only. Read our editorial policy, how we make money and tell us about an error.
More loan provider comparisons
Chola compared with other loan providers (13)
Hero FinCorp compared with other loan providers (14)
IDFC FIRST Bank compared with other loan providers (14)
Head-to-head pages for these three loan providers (3)
Swap one loan provider (2)
Compare any two or three loan providers · Personal loans · Home loans · Vehicle loans
Frequently asked questions
Which is better: Chola, Hero FinCorp or IDFC FIRST Bank?
IDFC FIRST Bank advertises the lowest starting car loan rate here, 8.99%, compared with 9% at Chola and 9% at Hero FinCorp. On a two-wheeler loan, IDFC FIRST Bank has the lowest published starting rate at 9%, against 15% at Chola and 14% at Hero FinCorp. A starting rate is the best case, not a typical offer, so confirm the annual percentage rate (APR) and total repayable amount in each loan provider's Key Fact Statement. Figures are as published on the loan providers' own websites and checked 12 October 2026. The better choice depends on your profile, the loan type, the amount and the fees in your offer letter.
IDFC FIRST Bank, Hero FinCorp or Chola: which should I pick for a loan?
Order does not change the comparison, so Chola vs Hero FinCorp vs IDFC FIRST Bank and IDFC FIRST Bank vs Hero FinCorp vs Chola are the same page. Start with the loan type you need: the sections above show each loan provider's published rate, fees, tenure and prepayment terms for it, and the lower starting rate is not always the lower total cost.
Which has the lower personal loan interest rate: Chola, Hero FinCorp or IDFC FIRST Bank?
IDFC FIRST Bank has the lower published starting rate. Published starting rates: Hero FinCorp 17.90% and IDFC FIRST Bank 9.99% (checked 12 October 2026). Your actual rate depends on your credit profile and the loan provider's approval.
What is the personal loan processing fee at Chola, Hero FinCorp and IDFC FIRST Bank?
Chola: not published. Hero FinCorp: Minimum 2.5% + GST, deducted at disbursal (non-refundable). IDFC FIRST Bank: 0% to 3.5% of loan amount (incl. GST). Fees can change and GST is usually extra, so check the Key Fact Statement.
What is the home loan processing fee at Chola, Hero FinCorp and IDFC FIRST Bank?
Chola: not published. Hero FinCorp: not published. IDFC FIRST Bank: Calculated on loan amount plus GST; percentage not stated. Fees can change and GST is usually extra, so check the Key Fact Statement.
What is the maximum home loan tenure at Chola, Hero FinCorp and IDFC FIRST Bank?
Chola: not published. Hero FinCorp: not published. IDFC FIRST Bank: up to 32 years salaried / 25 years self-employed.
How much personal loan can I get from Chola, Hero FinCorp and IDFC FIRST Bank?
Chola: not published. Hero FinCorp: not published. IDFC FIRST Bank: ₹50,000 to ₹15 lakh. The loan provider decides the final amount from your income, credit score and existing obligations.
What is the EMI on a ₹5 lakh personal loan at Chola, Hero FinCorp and IDFC FIRST Bank?
Over 5 years at each loan provider's lowest published rate: Hero FinCorp about ₹12,670 a month at 17.90%; IDFC FIRST Bank about ₹10,621 a month at 9.99%. An illustration that leaves out fees, GST and insurance; your offered rate may be higher.
Can I prepay or foreclose a home loan early at Chola, Hero FinCorp and IDFC FIRST Bank?
Chola: not published. Hero FinCorp: not published. IDFC FIRST Bank: No foreclosure charges on floating-rate loans; floating-to-fixed switch 0.1% of sanctioned amount or ₹10,000, whichever…. Floating-rate loans to individuals cannot carry pre-closure charges; fixed-rate loans often do.
Which loans do Chola, Hero FinCorp and IDFC FIRST Bank publish rates for?
Chola: no numeric starting rate found outside vehicle loans. Hero FinCorp: personal loan, loan against property, business loan, education loan. IDFC FIRST Bank: personal loan, loan against property, business loan, education loan. Based on each loan provider's own website, checked 12 October 2026.
Which is better for a car loan: Chola, Hero FinCorp or IDFC FIRST Bank?
IDFC FIRST Bank advertises the lowest starting car loan rate here, 8.99%, compared with 9% at Chola and 9% at Hero FinCorp. See the full vehicle loan comparison for tenure, fees and EMI tables.
Are Chola, Hero FinCorp and IDFC FIRST Bank regulated by the RBI?
IDFC FIRST Bank is a bank regulated by the Reserve Bank of India (RBI); Chola and Hero FinCorp are non-banking finance companies registered with and regulated by the RBI. Check a loan provider's registration on the RBI website before you apply, and apply only through its official channels.
How do I compare Chola, Hero FinCorp and IDFC FIRST Bank on real cost, not just the rate?
Ask each loan provider for its Key Fact Statement, then compare three numbers: the APR, the total amount you repay and the fees charged upfront, such as processing fee, documentation charge and insurance. The loan with the lower APR and the lower total repayment is the cheaper one, even when its headline rate looks higher.
Does my credit score change the rate at Chola, Hero FinCorp and IDFC FIRST Bank?
Yes. Loan providers keep their lowest published rate for borrowers with a strong credit score, usually 750 and above, and steady income. A lower score or a short work history usually means a higher rate, a higher processing fee or a smaller loan amount.
Are the rates on this page the rate I will get?
No. They are the rates the loan providers publish, usually a range or a starting rate. Your approved rate depends on your credit score, income, loan amount, tenure and, for secured loans, the asset. Always read the Key Fact Statement before you sign.
Does KhatuLoans lend money or charge for this comparison?
KhatuLoans is not a loan provider. The loan provider decides approval, rate and terms. Our comparisons are free to read, and we are not paid by the loan providers named here to rank them. See how we make money on our advertiser disclosure page.
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.