Key facts: HDFC Bank vs Hero FinCorp vs ICICI Bank personal loan
- Starting rate: HDFC Bank 9.99%, Hero FinCorp 17.90%, ICICI 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: 7.91 percentage points between the lowest and the highest.
- Maximum tenure: ICICI Bank 7 years. HDFC Bank and Hero FinCorp do not state one in months or years.
- Type of loan provider: HDFC Bank is a private bank; Hero FinCorp is an NBFC; ICICI Bank is a private bank. Banks and NBFCs price floating rates differently.
- Official websites: hdfc.bank.in, herofincorp.com, icici.bank.in.
- Pages checked: 3 official pages opened for this loan type.
- Loan types with a published rate: HDFC Bank 4, Hero FinCorp 6, ICICI Bank 6 (out of 8 we track).
- EMI on ₹5 lakh over 5 years: HDFC Bank ₹10,621, Hero FinCorp ₹12,670, ICICI Bank ₹10,621 a month, at each starting rate.
- Total interest on the same loan: HDFC Bank ₹1,37,264, Hero FinCorp ₹2,60,172, ICICI 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 HDFC Bank if you want
- A joint-lowest published starting rate (9.99%)
Where Hero FinCorp stands
No clear edge on the published figures we could compare for a personal loan. Check the table below and the Key Fact Statement.
Pick ICICI Bank if you want
- A joint-lowest published starting rate (9.99%)
- The most complete published terms for this loan (5 of 5 details)
HDFC Bank vs Hero FinCorp vs ICICI Bank personal loan: rate, fees and tenure
Starting personal loan rates as published: HDFC Bank from 9.99%, Hero FinCorp from 17.90% and ICICI Bank from 9.99%. HDFC Bank and ICICI Bank are lower at the starting rate, but the top of each range and your own credit profile decide what you are offered.
| Detail | HDFC Bank | Hero FinCorp | ICICI Bank |
|---|---|---|---|
| Published rate | Starting from 9.99% | Starting from 17.9% p.a. | Starts at 9.99% p.a. |
| Rate basis | Not published | Not published | fixed; varies by loan amount, profile, employment type, relationship |
| Loan amount | Up to Rs 50 Lakh | Not published | Rs 50,000 to Rs 50,00,000 |
| Maximum tenure | Not published | Not published | 84 months (min 12 months) |
| Processing fee | Not published | Minimum 2.5% + GST, deducted at disbursal (non-refundable) | Up to 2% of loan amount + applicable taxes |
| Prepayment / foreclosure | Not published | Prepayment charges: not applicable. Foreclosure: 5% + GST on outstanding principal | Foreclosure allowed after 1 EMI; no foreclosure charges after 24 EMIs, charges may apply before per service charges |
| Eligibility (as published) | Not published | Not published | Salaried age 18-58 (FAQ: 20-58), min income Rs 30,000/month; self-employed 23+; CIBIL 750+ preferred |
| Other terms published |
|
|
|
| Official source | hdfc.bank.in/personal-loan | herofincorp.com/personal-loan-fees-and-charges | icici.bank.in/personal-banking/loans/personal-loan |
EMI illustration: ₹5 lakh over 5 years
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| HDFC Bank | 9.99% | ₹10,621 | ₹1,37,264 | ₹6,37,264 |
| Hero FinCorp | 17.90% | ₹12,670 | ₹2,60,172 | ₹7,60,172 |
| ICICI 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
HDFC Bank vs Hero FinCorp vs ICICI 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 | HDFC Bank (9.99%) | Hero FinCorp (17.90%) | ICICI Bank (9.99%) |
|---|---|---|---|
| ₹1 lakh | ₹2,124 | ₹2,534 | ₹2,124 |
| ₹3 lakh | ₹6,373 | ₹7,602 | ₹6,373 |
| ₹5 lakh | ₹10,621 | ₹12,670 | ₹10,621 |
| ₹10 lakh | ₹21,242 | ₹25,339 | ₹21,242 |
| ₹20 lakh | ₹42,484 | ₹50,678 | ₹42,484 |
By tenure, on ₹5 lakh
| Tenure | HDFC Bank (9.99%) | Hero FinCorp (17.90%) | ICICI Bank (9.99%) |
|---|---|---|---|
| 1 year | ₹43,956 interest ₹27,467 | ₹45,816 interest ₹49,794 | ₹43,956 interest ₹27,467 |
| 2 years | ₹23,070 interest ₹53,684 | ₹24,938 interest ₹98,510 | ₹23,070 interest ₹53,684 |
| 3 years | ₹16,131 interest ₹80,725 | ₹18,051 interest ₹1,49,841 | ₹16,131 interest ₹80,725 |
| 5 years | ₹10,621 interest ₹1,37,264 | ₹12,670 interest ₹2,60,172 | ₹10,621 interest ₹1,37,264 |
| 7 years | ₹8,298 interest ₹1,97,033 | ₹10,480 interest ₹3,80,289 | ₹8,298 interest ₹1,97,033 |
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
HDFC Bank
Private bank · HDFC Bank Limited
- Zero documentation
- Quick approval
- Flexible tenure
Hero FinCorp
NBFC · Hero FinCorp Limited
- High loan eligibility up to Rs 7 Lakh
- Attractive interest rates
- Digital application process
ICICI Bank
Private bank · ICICI Bank Limited
- How the rate is set: fixed; varies by loan amount, profile, employment type, relationship
- Eligibility as published: Salaried age 18-58 (FAQ: 20-58), min income Rs 30,000/month; self-employed 23+; CIBIL 750+ preferred
- No foreclosure charges after 24 EMIs
- Tenure up to 84 months
- No collateral required
- Fixed rates from 9.99% p.a.
Before you apply for a personal loan
- 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.
- Processing fee: Charged upfront, usually as a percentage of the loan plus GST. Ask for the amount in rupees and check whether it is cut from the money you receive.
- Fixed or floating: Most personal loans carry a fixed rate. If yours is fixed, ask what the foreclosure charge is before you borrow.
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.
- HDFC Bank: hdfc.bank.in/personal-loan
- Hero FinCorp: herofincorp.com/personal-loan-fees-and-charges
- ICICI Bank: icici.bank.in/personal-banking/loans/personal-loan
Read our editorial policy, how we make money and tell us about an error.
More personal loan comparisons
HDFC Bank vs Hero FinCorp vs ICICI 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: HDFC Bank, Hero FinCorp or ICICI Bank?
HDFC Bank and ICICI Bank share the lowest published starting personal loan rate at 9.99%, against 17.90% at Hero FinCorp. On ₹5 lakh over 5 years the difference in total interest is ₹1,22,908. 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: HDFC Bank, Hero FinCorp or ICICI Bank?
HDFC Bank and ICICI Bank share the lowest published starting personal loan rate at 9.99%, against 17.90% at Hero FinCorp. The rate you are offered depends on your credit profile, income and loan amount.
What is the personal loan processing fee at HDFC Bank, Hero FinCorp and ICICI Bank?
HDFC Bank: not published. Hero FinCorp: Minimum 2.5% + GST, deducted at disbursal (non-refundable). ICICI Bank: Up to 2% of loan amount + applicable taxes. Fees can change, so confirm the amount in rupees, with GST, before you accept.
What is the maximum personal loan tenure at HDFC Bank, Hero FinCorp and ICICI Bank?
HDFC Bank: not published. Hero FinCorp: not published. ICICI Bank: 84 months (min 12 months). A longer tenure lowers the EMI and raises the total interest.
Can I prepay or foreclose a personal loan early at HDFC Bank, Hero FinCorp and ICICI Bank?
HDFC Bank: not published. Hero FinCorp: Prepayment charges: not applicable. Foreclosure: 5% + GST on outstanding principal. ICICI Bank: Foreclosure allowed after 1 EMI; no foreclosure charges after 24 EMIs, charges may apply before per service 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 HDFC Bank, Hero FinCorp and ICICI Bank?
Over 5 years at each loan provider's lowest published rate the monthly EMI is ₹10,621 at HDFC Bank, ₹12,670 at Hero FinCorp and ₹10,621 at ICICI Bank. This leaves out processing fees, GST and insurance, and your approved rate may be higher.
Who is eligible for a personal loan at HDFC Bank, Hero FinCorp and ICICI Bank?
HDFC Bank: not published. Hero FinCorp: not published. ICICI Bank: Salaried age 18-58 (FAQ: 20-58), min income Rs 30,000/month; self-employed 23+; CIBIL 750+ preferred. Each loan provider can ask for more documents once you apply.
Are HDFC Bank, Hero FinCorp and ICICI Bank regulated by the RBI?
Yes. HDFC Bank is a private bank, Hero FinCorp is an NBFC, ICICI 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 HDFC Bank, Hero FinCorp and ICICI 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.