Personal Loan Interest Rates

What is a personal loan?

Personal loans are the loans which a borrower can borrow for their personal use. A personal loan can be borrowed to fulfil your what is a personal loan needs. It includes medical emergencies, your additional expenses, weddings etc. The personal loan is a financial aid to any individual to bear their personal expenses.

Interest Rates  

Lenders                               Interest Rate (p.a.)                         Processing Fee (% of loan amount)

State Bank of India              10.30%-15.10%                              Up to 1.5% (Maximum Rs 15,000)

HDFC Bank                           11.00% onwards                             Up to Rs 4,999

Punjab National Bank          9.30% – 15.85%                              Up to 1%

ICICI Bank                             10.75% onwards                              Up to 2.5%

Bank of Baroda                      9.70% – 17.05%                             2% (Minimum Rs 1,000 and Maximum Rs 10,000)

Union Bank of India               10.30%-14.40%                              Up to 1% (Maximum Rs 7,500)

Axis Bank                                10.25% onwards                             1.5%-2%

Bank of India                           10.75% onwards                              Up to 2% (Maximum Rs 10,000)

Indian Bank                               9.90% – 11.40%                              Up to 1%

Kotak Mahindra Bank              10.99% onwards                             Up to 3%

Central Bank of India               10.75% – 10.95%                           Up to 1%

IndusInd Bank                           10.49% onwards                            Up to 3%

IDBI Bank                                   9.50% – 14.00%                             1% (Minimum Rs 2,500)

Indian Overseas Bank              11.40% – 12.40%                           Up to 0.75%

Yes Bank                                    10.99% onwards                            Up to 2.5%

You can use a personal loan EMI calculator to know your EMI how much you would be paying during the personal loan tenure against different interest rates and loan tenures.  

The online personal loan EMI calculator also works as an interest calculator as it also helps you to know the total interest payable on your personal loan.