Hdfc personal loan

I was looking to take a loan I keep getting mails from hdfc And I have tried to apply and checked what's the actual rate of interest is In my email it showed 11.88% but when applying it is showing 13.16% as "annual percentage rate" So I'm confused here Can anyone clear my confusion?

I was looking to take a loan I keep getting mails from hdfc And I have tried to apply and checked what's the actual rate of interest is In my email it showed 11.88% but when applying it is showing 13.16% as "annual percentage rate" So I'm confused here Can anyone clear my confusion?