Personal loan pricing is dispersed in a way home loan pricing is not — the same applicant can be quoted 10% by their salary bank and 18% by an app, for identical money. The lender you already bank with is genuinely the best first call, because they can see your salary credits and price on evidence rather than on a bureau score alone.
as of 5 September 2026 · Lender rate cards · reported
| Lender | Rate p.a. | Processing fee | Max loan | |
|---|---|---|---|---|
| Kotak BankPrivate bank | 9.95% | ₹12999+GST | ₹50 lakh | |
Read moreThe rest of the record Disbursal time3 - 5 Days | ||||
| Axis BankPrivate bank | 9.99% | 2% | ₹40 lakh | |
Read moreThe rest of the record Disbursal time3 - 5 Days | ||||
| HDFC BankPrivate bank | 9.99% | ₹4999+GST | ₹50 lakh | |
Read moreThe rest of the record Disbursal time3 - 5 Days | ||||
| ICICI BankPrivate bank | 9.99% | 2.5% | Not published | |
Read moreThe rest of the record Disbursal time3 - 5 Days | ||||
| IDFC FIRST BankPrivate bank | 9.99% | 2% | ₹1 crore | |
Read moreThe rest of the record Disbursal time1 - 2 Days | ||||
| Bajaj FinservNBFC | 10.00% | 1.2% | ₹75 lakh | |
Read moreThe rest of the record Disbursal time0 - 1 Days | ||||
| Federal BankPrivate bank | 10.49% | 1.99-3.99% | ₹5 lakh | |
Read moreThe rest of the record Disbursal timeInstant | ||||
| IndusInd BankPrivate bank | 10.50% | 3% | ₹50 lakh | |
Read moreThe rest of the record Disbursal time6 - 10 Days | ||||
| L&T FinanceNBFC | 10.50% | 2.5% | ₹30 lakh | |
Read moreThe rest of the record Disbursal time1 - 2 Days | ||||
| YES BANKPrivate bank | 10.50% | 2.5% | ₹50 lakh | |
Read moreThe rest of the record Disbursal time3 - 5 Days | ||||
| Tata CapitalNBFC | 10.99% | 3.5% | ₹35 lakh | |
Read moreThe rest of the record Disbursal time6 - 10 Days | ||||
| Poonawalla FincorpNBFC | 11.99% | 4% | ₹20 lakh | |
Read moreThe rest of the record Disbursal time1 - 2 Days | ||||
What to know
Compare on total cost, not the advertised rate. Processing fees on personal loans run to 2–3% plus 18% GST, deducted upfront — so a ₹5 lakh loan at a 2% fee disburses about ₹4.88 lakh while you pay interest on the full ₹5 lakh. That gap is worth 50–100 basis points on the effective rate, which is often larger than the rate difference you were shopping for.
Watch for the bundled insurance. Many personal loan sanctions attach a single-premium credit protection policy, financed inside the loan, presented as improving your approval odds. It is optional. If you want the cover, a term policy bought separately costs a fraction and does not accrue loan interest for five years.
Frequently asked questions
What is a good personal loan interest rate in India?
Anything under about 12% is competitive for a salaried applicant with a strong credit score. Above 18% you are being priced as high risk, and it is worth asking whether a secured alternative — a loan against fixed deposit, a gold loan, or a top-up on an existing home loan — is available instead.
Which bank gives a personal loan most easily?
Usually the bank where your salary is credited, because it can underwrite on observed cash flow rather than on the bureau alone. That also tends to produce the fastest disbursal. It does not automatically produce the cheapest rate, so it is worth getting one competing quote.
Does applying to several lenders hurt my credit score?
Yes, if you actually submit applications — each is a hard enquiry, and a cluster of them in a short window reads as credit hunger. Use eligibility checkers that perform a soft enquiry to shortlist, then formally apply to one or two.
Sources
- TransUnion CIBIL — Understanding your CIBIL score and report (primary source)
- Lender published rate cards — Home, personal, vehicle and education loan rate cards — August 2026 — as of 5 September 2026
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