Personal loan overview
Personal Loan Interest Rates.
Current rate ranges, processing fees, and maximum amounts across 15 banks and NBFCs — sourced from each lender's own published rate page.
| Lender | Interest rate | Processing fee | Max amount |
|---|---|---|---|
| Canara Bank | 8% – 15.75% | 0.5%–1% of loan amount (min ₹500) + GST | ₹30 Lakh |
| ICICI Bank | 9.99% – 16.5% | Up to 2.5% of loan amount + GST | ₹50 Lakh |
| Axis Bank | 9.99% – 22% | 1.5%–2% of loan amount + GST | ₹40 Lakh |
| IDFC FIRST Bank | 9.99% – 20% | 0%–3.5% of loan amount + GST | ₹15 Lakh |
| Poonawalla Fincorp | 9.99% – 18% | 0%–4.5% of loan amount + GST | ₹50 Lakh |
| State Bank of India | 10% – 15.3% | Up to 1.5% of loan amount (min ₹1,000, max ₹15,000) + GST | ₹20 Lakh |
| Bajaj Finserv | 10% – 30.5% | Up to 2.5% of loan amount (max ₹4,999) + GST | ₹55 Lakh |
| Bank of Baroda | 10.15% – 18.75% | 1%–2% of loan amount (min ₹1,000, max ₹10,000) + GST; nil for govt salary accounts | ₹20 Lakh |
| Punjab National Bank | 10.25% – 16.8% | Up to 1% of loan amount | ₹20 Lakh |
| IndusInd Bank | 10.49% – 26% | Up to 3.5% of loan amount + GST | ₹50 Lakh |
| Yes Bank | 10.5% – 21% | Up to 2.5% of loan amount (min ₹999) + GST | ₹40 Lakh |
| L&T Finance | 10.5% – 15% | Up to 4% of loan amount + GST | ₹30 Lakh |
| HDFC Bank | 10.75% – 24% | Up to 2.5% of loan amount (min ₹2,999, max ₹25,000) + GST | ₹40 Lakh |
| Kotak Mahindra Bank | 10.99% – 24% | Up to 3% of loan amount + GST | ₹15 Lakh |
| Tata Capital | 10.99% – 29.99% | Up to 3.5% of loan amount + GST (from 0.5% for women borrowers) | ₹35 Lakh |
Want a rate estimate for your own profile?
This table shows each lender's full published range — where you actually land within that range depends on your credit score, income, and employer category. UseCompare Personal Loans to see estimated rates and EMIs positioned to your specific credit score band and loan amount.
Frequently asked questions
What is the current personal loan interest rate in India?
Personal loan interest rates from major Indian banks and NBFCs typically range from around 10.5% to 24% p.a., depending on the lender, your credit score, income, and employer category. Public sector banks tend to offer the lowest starting rates, while NBFCs price higher but often approve faster and with fewer documents.
Which bank offers the lowest personal loan interest rate?
The lowest starting rates are usually offered by large public and private banks such as SBI, Bank of Baroda, and Punjab National Bank, but the rate you're actually offered depends on your specific credit score, income, and relationship with that bank — the lowest advertised rate is rarely what everyone gets. Compare your specific profile across lenders rather than going by headline rates alone.
Does my CIBIL score affect my personal loan interest rate?
Yes, significantly. Lenders reserve their lowest rates for borrowers with a CIBIL score of 750 and above. A score in the 700-749 range typically gets a moderately higher rate, and scores below 650 either face much higher rates or rejection at many mainstream lenders.
Is personal loan interest calculated as fixed or floating rate?
Almost all personal loans in India carry a fixed interest rate for the entire tenure — your EMI stays the same from the first month to the last, unlike home loans which are commonly floating-rate. This makes personal loan repayment easier to plan for, even though the rate itself is higher.
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