5 Banks Offering Lowest Interest Rates On Personal Loan

Comparison Is Essential

Before settling on a personal loan, its advisable to compare interest rates from different lenders to identify the most suitable option for your needs.

Lowest Interest Rates

The following banks offering lowest competitive interest rates on personal loans.

HDFC Bank

HDFC Bank presents personal loans with an annual interest rate ranging from 10.75% to 24%. Processing fees amount to ₹4,999 plus GST, with loan tenure spanning 3 to 72 months. Maximum loan amount: ₹40 lakh.

ICICI Bank

ICICI Bank offers personal loans with an annual interest rate ranging from 10.65% to 16%. Processing charges can go up to 2.50% of the loan amount plus applicable taxes.

State Bank of India (SBI)

State Bank of India extends personal loans starting from an 11.15% interest rate. Loans are available up to ₹20 lakh, even for non-SBI account holders.

Kotak Mahindra Bank

Kotak Mahindra Bank provides personal loans ranging from ₹50,000 to ₹40 lakh at an interest rate starting from 10.99%. Processing charges may reach up to 3% of the loan amount plus applicable taxes.

Punjab National Bank (PNB)

PNB offers personal loans with interest rates ranging from 12.40% to 17.25%. The lowest rate is 12.40% for defence personnel and 12.75% for government employees, based on credit score.