Personal Loan Interest Rates Comparison: Top Banks in India

Are you in need of immediate cash for miscellaneous expenses like throwing a wedding party or going on an urgent foreign trip? Personal loans from banks could be the solution for you. While personal loans are usually unsecured, some banks also offer secured personal loans at lower interest rates. For example, Karur Vysya Bank charges 11 percent per annum on secured loans and 13-14 percent on unsecured personal loans.

Banks typically charge higher interest rates on personal loans, but the rate can vary based on factors such as the applicant’s credit score, relationship with the bank, and employer category. Here are some of the lowest interest rates charged by major banks on their personal loans:

– ICICI Bank: 10.65 to 16 percent per annum
– HDFC Bank: 10.5 to 24 percent per annum
– SBI: 11.15 to 14.30 percent per annum for different categories of applicants
– Bank of Baroda: 12.40 to 16.75 percent per annum
– Punjab National Bank: 12.75 to 17.25 percent per annum
– Kotak Mahindra Bank: 10.99 percent per annum
– Axis Bank: 10.65 to 22 percent per annum

These rates are subject to change and are sourced from the official websites of the respective banks. If you’re considering a personal loan, it’s important to compare interest rates and terms offered by different banks to find the best option for your financial needs.