Here’s a quick and updated overview (as of late 2025) of personal loan interest rates across major banks in India. Interest rates vary significantly based on your credit score, income, bank policies, and loan amount/tenure, but the ranges below give a solid comparison across lenders:
Personal Loan Interest Rates – Major Banks (India, 2025)
| Bank / Lender | Interest Rate (Approx Range, p.a.) | Notes |
|---|---|---|
| State Bank of India (SBI) | ~10.05% – 15.05% | Standard range for salaried/other borrowers |
| HDFC Bank | ~9.99% – 24.00% | Broad range depending on profile & tenure |
| ICICI Bank | ~10.45% – 16.50% | Depends on eligibility & CIBIL score |
| Axis Bank | ~9.99% – 22% | Competitive starting rate |
| Kotak Mahindra Bank | ~10.99% & above | Base rate onwards |
| IDFC First Bank | ~9.99% onwards | Competitive low starting rate |
| IndusInd Bank | ~10.25% – 28.00% | Wider range based on profile |
| Bank of India | ~11.10% – 16.15% | Public sector loan range |
| Canara Bank | ~9.95% – 15.40% | Govt bank range |
| Punjab National Bank (PNB) | ~10.50% – 17.05% | Public sector range |
| Union Bank of India | ~10.35% – 14.45% | Public bank range |
| Bank of Maharashtra | ~8.75% – 13.55% | Lower starting band in some cases |
| Central Bank of India | ~9.65% – 11.55% | PSU bank range |
| HSBC India | ~9.89% – 14% (APR 9.41% – 15.02%) | International bank range |
| Bajaj Finserv | ~10% – 31% | NBFC with broader range |
| Tata Capital | ~10.99% – 29.99% | NBFC range |
| Standard Chartered | ~11% & above | Depends on profile |
| Other NBFCs (e.g., Mahindra, IIFL, Shriram, Muthoot) | ~8% – 44%+ | Very wide range depending on credit score & product |
Key Things to Know
Personal Loan Interest Rate Depends On
- Your CIBIL/credit score
- Income stability & employment
- Loan amount & tenure
- Whether the rate is fixed vs reducing (reducing rate often lowers total interest)
Read More: Jio Data Loan: How To Get Jio Data Loan
Typical Range
- Most bank personal loan interest rates typically start around ~9.5–10% p.a. and can go up to 20%+ for higher-risk borrowers.
NBFCs vs Banks
- NBFCs (like Bajaj Finserv, Tata Capital, Mahindra Finance) often offer faster approvals and flexible terms but may charge higher interest rates compared to banks.
Processing Fees
- Besides the interest rate, most lenders charge a processing fee (often 0.25% – 5% of loan amount) and GST, so always check total cost before applying.
Tips Before You Apply
- Check your CIBIL score – higher credit scores can significantly lower your interest rate.
- Compare offers on platforms like Paisabazaar or BankBazaar before choosing.
- Review processing fees, foreclosure charges, and prepayment rules.
- A reducing balance interest method usually results in lower overall interest than a flat rate.
