Personal Loan Interest Rates 2026 — Compare Banks & NBFCs
Compare personal loan interest rates, processing fees, tenure and eligibility from 14 lenders including HDFC, SBI, ICICI, Axis, Bajaj Finserv and HSBC.
Disclaimer: Interest rates, loan amounts, processing fees, and approval are subject to the respective bank's/lender's policies, eligibility criteria, and credit assessment. The information shown is indicative and may vary.
HDFC Bank
HDFC Bank Personal Loan
HDFC's personal loan is the gold standard for quick disbursal — existing customers can get funds in just 10 seconds flat. The 10.50% starting rate is competitive, and the 72-month tenure gives good repayment flexibility. Best for salaried professionals who already hold an HDFC salary account.
ICICI Bank
ICICI Bank Personal Loan
ICICI offers one of the highest loan amounts at ₹50 Lakh, making it suitable for large expenses like weddings or medical emergencies. The balance transfer facility lets you consolidate expensive loans from other lenders. The 19.50% upper rate means your actual rate depends heavily on your CIBIL score and employment profile.
SBI (Xpress Credit)
SBI (Xpress Credit) Personal Loan
SBI's personal loan stands out for its rock-bottom processing fees of just 0.50-1.00%, the lowest in the industry. Government and corporate employees get preferential rates that are hard for private banks to match. Interest calculated on reducing daily balance saves you real money over the full tenure.
Axis Bank
Axis Bank Personal Loan
Axis promises loan disbursal in 24 hours with zero foreclosure charges — a big plus for early repayers. The ₹15,000/month salary requirement is among the lowest, making it accessible for early-career professionals. A good choice if you might want to prepay the loan early without any penalty.
Bajaj Finserv
Bajaj Finserv Personal Loan
Bajaj's unique Flexi Loan facility lets you withdraw and repay multiple times within your sanctioned limit, paying interest only on the amount actually used. The 84-month tenure is the longest available in personal loans, keeping your EMIs low. Pre-approved offers for existing customers mean near-instant approval.
Tata Capital
Tata Capital Personal Loan
Tata Capital assigns a dedicated relationship manager even for personal loans, which is uncommon in the industry. The 24-hour disbursal and no collateral requirement make it hassle-free to apply. A solid choice for those who value personalized service over chasing the absolute lowest interest rate.
Kotak Mahindra Bank
Kotak Mahindra Bank Personal Loan
Kotak's standout feature is zero pre-closure penalty after just 12 months, giving you real flexibility to pay off early. The ₹50 Lakh maximum loan amount is among the highest available in personal loans. Best for Kotak salary account holders who benefit from faster approval and potentially lower negotiated rates.
IDFC First Bank
IDFC First Bank Personal Loan
IDFC First leads the market with zero foreclosure charges from day one — a significant advantage if you plan to prepay your loan. The step-up EMI option lets you start with lower payments that increase over time, useful for those expecting salary growth. The wide rate range means your CIBIL score matters a lot here.
Bank of Baroda
Bank of Baroda Personal Loan
BoB offers special concessional rates for government employees that often undercut private banks by 1-2 percentage points. The 84-month tenure is the longest available, keeping your monthly EMIs very manageable. The BoB World app makes the entire application process fully digital from start to finish.
Punjab National Bank
Punjab National Bank Personal Loan
PNB's personal loan is straightforward with no prepayment penalty and wide branch availability across India. The ₹10 Lakh cap is lower than most private banks, but the rates are competitive for government sector employees. The dedicated pensioner loan scheme is a unique offering not found at most other banks.
HSBC India
HSBC India Personal Loan
HSBC offers the lowest starting rate at 9.75% — but this is reserved for premium customers with high income and excellent credit scores. Instant approval for existing HSBC account holders makes the process seamless. The ₹40K/month salary requirement means it exclusively targets upper-income professionals.
Standard Chartered
Standard Chartered Personal Loan
SC's same-day disbursal for existing customers and zero-documentation pre-approved process set it apart from competitors. The top-up facility lets you borrow additional amounts on your existing loan without fresh paperwork or processing. Best for SC banking customers who have a strong, established relationship with the bank.
IndusInd Bank
IndusInd Bank Personal Loan
IndusInd offers doorstep documentation service, saving you multiple trips to the bank branch. The approval process is fast with instant digital verification of your documents. The wide rate range of 10.49-22% means rates can vary significantly based on your employment type and overall credit profile.
Federal Bank
Federal Bank Personal Loan
Federal Bank's FedMobile app enables a fully digital loan journey from application to final disbursal. Competitive rates for NRIs make it a standout choice for non-resident Indians seeking personal loans back home. Quick 24-hour disbursal and no guarantor requirement keep the entire process simple and efficient.
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