Comparing Interest Rates of Personal Loan Providers in India

When it comes to taking out a personal loan in India, it’s crucial to consider the interest rates offered by various lenders. The interest rate plays a significant role in determining the overall cost of the loan and affects your monthly repayment amount. To help you make an informed decision, this article will compare the interest rates of 20 prominent personal loan providers in India. Let’s dive in!

Comparing Interest Rates of Personal Loan Providers in India

Here, we will compare the interest rates of top 20 personal loan providers in India, including HDFC Bank, SBI, ICICI Bank, and others. It highlights the range of interest rates offered by each provider, helping borrowers make informed decisions about their personal loan options.

HDFC Bank

HDFC Bank is one of the leading banks in India, known for its extensive range of financial products. The interest rates for personal loans at HDFC Bank start from 10.75% per annum and vary depending on factors such as the loan amount, repayment tenure, and the borrower’s creditworthiness.

State Bank of India (SBI)

As the largest public sector bank in India, SBI offers competitive interest rates on personal loans. The interest rates start from 9.60% per annum, making it an attractive option for borrowers. However, the actual interest rate offered by SBI may vary based on the borrower’s profile.

ICICI Bank

ICICI Bank is another prominent player in the personal loan market. The interest rates for personal loans at ICICI Bank range from 10.50% to 24.00% per annum. The rates are determined based on factors like the borrower’s credit score, income, and loan amount.

Axis Bank

Axis Bank is known for its customer-centric approach and offers personal loans at competitive interest rates. The interest rates at Axis Bank start from 12.00% per annum. However, it’s important to note that the final interest rate offered to borrowers may vary based on their creditworthiness.

Bajaj Finserv

Bajaj Finserv is a non-banking financial company (NBFC) that provides personal loans at attractive interest rates. The interest rates at Bajaj Finserv range from 12.99% to 18.00% per annum, depending on various factors such as the loan amount, repayment tenure, and the borrower’s credit score.

Kotak Mahindra Bank

Kotak Mahindra Bank is a well-known private sector bank in India. The interest rates for personal loans at Kotak Mahindra Bank start from 10.50% per annum. The final interest rate offered to borrowers is based on factors like credit score, income, and repayment capacity.

Punjab National Bank (PNB)

PNB is a leading public sector bank that offers personal loans at competitive interest rates. The interest rates at PNB start from 9.95% per annum. However, it’s important to note that the final interest rate offered may vary based on the borrower’s creditworthiness.

IndusInd Bank

IndusInd Bank provides personal loans at attractive interest rates to suit the diverse needs of borrowers. The interest rates at IndusInd Bank start from 10.60% per annum. The actual interest rate offered to borrowers depends on factors such as credit score, income, and repayment capacity.

Yes Bank

Yes Bank is known for its innovative banking solutions, including personal loans. The interest rates for personal loans at Yes Bank start from 10.75% per annum. However, the final interest rate may vary based on the borrower’s creditworthiness and other factors.

IDFC First Bank

IDFC First Bank offers personal loans with competitive interest rates to meet the financial requirements of individuals. The interest rates at IDFC First Bank start from 10.49% per annum. The actual interest rate offered is based on factors such as the loan amount, repayment tenure, and the borrower’s profile.

Tata Capital

Tata Capital is a renowned NBFC that provides personal loans at attractive interest rates. The interest rates at Tata Capital range from 10.99% to 18.00% per annum. The rates are determined based on factors such as credit score, income, and loan amount.

Fullerton India

Fullerton India is a leading NBFC that offers personal loans with competitive interest rates. The interest rates at Fullerton India range from 11.99% to 36.00% per annum. The final interest rate offered to borrowers depends on factors like credit score, income, and repayment capacity.

Standard Chartered Bank

Standard Chartered Bank provides personal loans with competitive interest rates and flexible repayment options. The interest rates at Standard Chartered Bank start from 10.99% per annum. The actual interest rate offered may vary based on the borrower’s creditworthiness and other factors.

Federal Bank

Federal Bank is a well-established private sector bank that offers personal loans at competitive interest rates. The interest rates at Federal Bank start from 11.49% per annum. However, the final interest rate offered may vary based on the borrower’s profile and creditworthiness.

RBL Bank

RBL Bank provides personal loans at attractive interest rates, making it a popular choice among borrowers. The interest rates at RBL Bank start from 12.00% per annum. The actual interest rate offered depends on factors such as credit score, income, and loan amount.

Canara Bank

Canara Bank is a renowned public sector bank that offers personal loans at competitive interest rates. The interest rates at Canara Bank start from 10.70% per annum. However, the final interest rate may vary based on factors such as the borrower’s credit score and repayment capacity.

Union Bank of India

Union Bank of India is a well-established public sector bank that provides personal loans at competitive interest rates. The interest rates at Union Bank of India start from 9.60% per annum. The actual interest rate offered is based on factors such as the borrower’s credit score and repayment capacity.

Aditya Birla Capital

Aditya Birla Capital is a renowned financial services company that offers personal loans at attractive interest rates. The interest rates at Aditya Birla Capital start from 11.75% per annum. The final interest rate offered may vary based on factors such as the borrower’s creditworthiness and loan amount.

Bank of Baroda

Bank of Baroda is a prominent public sector bank in India that offers personal loans at competitive interest rates. The interest rates at Bank of Baroda start from 10.50% per annum. The final interest rate offered to borrowers may vary based on factors such as credit score, income, and loan amount.

Indian Overseas Bank (IOB)

Indian Overseas Bank is a trusted public sector bank that offers personal loans at competitive interest rates. The interest rates at IOB start from 10.55% per annum. The final interest rate depends on various factors such as the borrower’s credit score, income, and repayment capacity.


As you explore personal loan options in India, it’s crucial to compare the interest rates of different lenders to ensure you get the best deal. However, remember that interest rates are just one aspect to consider.

Evaluate other factors such as loan tenure, processing fees, prepayment charges, and customer service before making a decision. Choose a personal loan provider that not only offers competitive interest rates but also provides favorable terms and excellent service to meet your financial requirements effectively.

Disclaimer: The information provided in this article is for general informational purposes only. The interest rates mentioned are subject to change and may vary based on individual factors. It is recommended to conduct thorough research and consult with financial professionals before making any financial decisions or entering into loan agreements.


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