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Personal Loan: 10 Private Banks That Are Offering The Lowest Interest Rate

Team BankBazaar
·2-min read
Photo: www.freepik.com/
Photo: www.freepik.com/

Personal loans are popular as they are easy to avail and can be used for any financial need. A personal loan is an unsecured loan for which no collateral is pledged to borrow money. Before taking a personal loan, it would be wise to compare personal loans from various lenders on various factors like interest rates, processing fees, other charges to bag the best deal. If you are planning to take a personal loan from the top 10 private banks (as per asset size), here is the list of interest rates they are offering.

Interest Rates on Personal Loan

(For Top 10 Private Banks By Asset Size)

EMI on Personal Loan Up to Rs. 100000 for 3 year Tenure

Lender’s Name

Interest Rate
(% Pa)

EMI (In Rs)

IDFC Bank

9.20 – 34.00

₹ 3189 – ₹ 4467

HDFC Bank

10.75 – 21.30

₹ 3262 – ₹ 3783

Kotak Bank

10.75 – 24.00

₹ 3262 – ₹ 3923

IndusInd Bank

>=11.00

>=₹ 3274

ICICI Bank

11.25 – 21.00

₹ 3286 – ₹ 3768

Federal Bank

11.49 -17.99

₹ 3297 – ₹ 3615

Axis Bank

12.00 – 24.00

₹ 3321 – ₹ 3923

IDBI Bank

12.00 – 14.00

₹ 3321 – ₹ 3418

Dhanlaxmi Bank

12.00 – 15.70

₹ 3321 – ₹ 3501

Yes Bank

13.99 – 16.99

₹ 3417 – ₹ 3565

Data Compiled by BankBazaar.com from respective bank’s website as on Oct 15 2020. The EMI range is indicative and not exhaustive. In actual situation it may include other fees and charges as per bank’s t&c. The interest rate are based as per regular personal loan products offered by Pvt Banks. Banks are listed in ascending order on the basis of interest rate i.e. bank having lowest starting interest range is placed at top and highest at the bottom. Bank’s are selected on the basis of their asset size as per latest available information and its accuracy is not warranted. Banks for which data is not available or partially available on their website are excluded from the list.

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Need help in calculating your EMI? Use BankBazaar’s easy Personal Loan EMI calculator.