Personal Loan Interest Rates — India 2026
Indicative rate ranges for 25 banks and NBFCs. Rates depend on your CIBIL score, income, employer, and banking relationship. Always verify with the lender before applying.
PSU Public Sector Banks
Government banks typically offer lower rates for salaried employees, especially Central/state government and PSU employees. Processing fees are lower, but approval times can be longer.
| Lender | Rate range | Processing fee | Tenure | Max amount | Rate type | Official source | |
|---|---|---|---|---|---|---|---|
| BoM Lowest starting rate among PSU banks as of May 2026 | 8.75% – 13% | Up to 1% | 1–5 yrs | ₹10 L | Floating | Official site ↗ | Calculate EMI → |
| SBI SBI Xpress Credit for salaried; rate linked to MCLR | 10% – 15% | Up to 1.5% of loan amount | 1–6 yrs | ₹20 L | Floating | Official site ↗ | Calculate EMI → |
| BoB Baroda Personal Loan; online applications get processing fee waiver | 10.15% – 18% | Up to 2% | 1–5 yrs | ₹15 L | Floating | Official site ↗ | Calculate EMI → |
| PNB PNB Personal Loan; floating starts from 10.25%, fixed from 11.25% | 10.25% – 16.25% | 0.35% of loan amount | 1–6 yrs | ₹20 L | Both | Official site ↗ | Calculate EMI → |
| BoI Star Personal Loan | 10.85% – 16.25% | 1% of loan amount (min ₹2,500, max ₹15,000) | 1–6 yrs | ₹20 L | Floating | Official site ↗ | Calculate EMI → |
| Canara Canara Budget — for salaried customers | 10.95% – 16.4% | 0.5% of loan amount (min ₹1,000) | 1–5 yrs | ₹10 L | Floating | Official site ↗ | Calculate EMI → |
| IDBI | 11% – 15.5% | 1% of loan amount | 1–5 yrs | ₹10 L | Floating | Official site ↗ | Calculate EMI → |
| Union Bank | 11.4% – 15.3% | 0.5% of loan amount | 1–5 yrs | ₹15 L | Floating | Official site ↗ | Calculate EMI → |
Private Private Sector Banks
Private banks offer faster disbursal (sometimes same-day for pre-approved customers), but processing fees and rates are typically higher than PSU banks for the same credit profile.
| Lender | Rate range | Processing fee | Tenure | Max amount | Rate type | Official source | |
|---|---|---|---|---|---|---|---|
| Axis Longest tenure (84 months) among top private banks | 8.75% – 21.55% | Up to 2% of loan amount | 1–7 yrs | ₹40 L | Both | Official site ↗ | Calculate EMI → |
| HDFC Instant disbursal for pre-approved HDFC customers; rate depends on CIBIL | 9.99% – 24% | Up to ₹6,500 + GST | 1–6 yrs | ₹40 L | Fixed | Official site ↗ | Calculate EMI → |
| ICICI ICICI iLoan; instant for pre-approved; wide range due to CIBIL dependency | 9.99% – 16.5% | Up to 2% of loan amount | 1–6 yrs | ₹50 L | Both | Official site ↗ | Calculate EMI → |
| IDFC First Wide range; lowest amount eligibility ₹20K; lowest rates for prime profiles | 9.99% – 36% | 0% to 3.5% | 1–6 yrs | ₹40 L | Fixed | Official site ↗ | Calculate EMI → |
| Yes Bank | 10.85% – 21% | Up to 2.5% | 1–5 yrs | ₹40 L | Both | Official site ↗ | Calculate EMI → |
| Kotak Higher processing fee; rate competitive for 811 account holders | 10.99% – 24% | Up to 5% | 1–6 yrs | ₹40 L | Fixed | Official site ↗ | Calculate EMI → |
| Federal Relatively narrow rate band; good for Kerala/south India salaried segment | 11.49% – 14.49% | 0.5% to 3% | 1–5 yrs | ₹25 L | Fixed | Official site ↗ | Calculate EMI → |
| IndusInd | 12% – 26% | Up to 3.5% onwards | 1–5 yrs | ₹50 L | Fixed | Official site ↗ | Calculate EMI → |
| RBL | 14% – 26% | Up to 3.5% | 1–5 yrs | ₹20 L | Fixed | Official site ↗ | Calculate EMI → |
NBFC Non-Banking Finance Companies
NBFCs are more flexible on credit score thresholds and self-employed income, but typically charge higher rates and processing fees. Useful when banks decline or for fast disbursals.
| Lender | Rate range | Processing fee | Tenure | Max amount | Rate type | Official source | |
|---|---|---|---|---|---|---|---|
| Tata Capital | 10.99% – 35% | Up to 5.5% + GST | 1–6 yrs | ₹35 L | Fixed | Official site ↗ | Calculate EMI → |
| Aditya Birla High loan amount ceiling; 84-month tenure | 10.99% – 30% | Up to 3.5% + GST | 1–7 yrs | ₹50 L | Fixed | Official site ↗ | Calculate EMI → |
| Bajaj Finance Widest tenure (up to 8 years); instant digital approval; high processing fee | 11% – 35% | Up to 3.93% of loan amount + GST | 0–8 yrs | ₹40 L | Fixed | Official site ↗ | Calculate EMI → |
| Fullerton Higher processing fee; specialises in self-employed and NTC segments | 11.99% – 36% | Up to 6% of loan amount | 1–5 yrs | ₹25 L | Fixed | Official site ↗ | Calculate EMI → |
| HDB Financial HDFC Bank subsidiary | 12% – 36% | Up to 4% | 1–5 yrs | ₹20 L | Fixed | Official site ↗ | Calculate EMI → |
| L&T Finance | 12% – 24% | Up to 3% | 1–4 yrs | ₹15 L | Fixed | Official site ↗ | Calculate EMI → |
| Piramal | 12.99% – 26% | Up to 3.5% | 1–5 yrs | ₹10 L | Fixed | Official site ↗ | Calculate EMI → |
| Muthoot Strong in Kerala/south; also offers gold-backed personal loans | 14% – 22% | 1% to 3% | 1–5 yrs | ₹15 L | Fixed | Official site ↗ | Calculate EMI → |
How to read this table
Rate range
The minimum rate is for best-profile borrowers (750+ CIBIL, salaried, top-tier employer, existing bank relationship). The maximum applies to riskier profiles. Your actual rate sits somewhere in this band.
Processing fee
Deducted upfront from the disbursed amount. A 2% processing fee on a ₹5L loan means you receive ₹4,90,000 but repay on ₹5,00,000. Always add this to the effective APR using the EMI calculator.
Fixed vs Floating
Fixed: rate stays the same for the full tenure. Floating: rate is linked to MCLR/repo and can change. Most PSU bank personal loans are floating; NBFCs typically offer fixed.
"Calculate EMI →" button
Pre-fills the EMI calculator with the lender's minimum rate and a ₹5L, 36-month example. Adjust the amount and tenure to match your actual requirement.
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