India markets close in 5 hours 4 minutes
  • BSE SENSEX

    40,915.05
    +370.68 (+0.91%)
     
  • Nifty 50

    11,997.75
    +100.95 (+0.85%)
     
  • USD/INR

    73.3900
    -0.0500 (-0.07%)
     
  • Dow

    28,308.79
    +113.37 (+0.40%)
     
  • Nasdaq

    11,516.49
    +37.61 (+0.33%)
     
  • BTC-INR

    899,164.38
    +86,683.75 (+10.67%)
     
  • CMC Crypto 200

    246.01
    +7.09 (+2.97%)
     
  • Hang Seng

    24,747.93
    +178.39 (+0.73%)
     
  • Nikkei

    23,665.34
    +98.30 (+0.42%)
     
  • EUR/INR

    86.9525
    +0.0722 (+0.08%)
     
  • GBP/INR

    95.2529
    +0.2311 (+0.24%)
     
  • AED/INR

    19.9330
    -0.0170 (-0.09%)
     
  • INR/JPY

    1.4320
    -0.0013 (-0.09%)
     
  • SGD/INR

    54.1420
    +0.0030 (+0.01%)
     

Personal Loan At 8.9%. Check Which Govt Bank Is Offering The Lowest Interest Rate

Team BankBazaar
·2-min read

Personal loans are popular as they are a great way to address your sudden financial requirements. Being unsecured, you do not have to pledge a security to fetch a loan. Your loan eligibility depends on your income, repaying capacity, credit score etc. When you decide to take a personal loan, it would be a smart idea to compare personal loans from various lenders on factors such as interest rates, processing fees, other charges to grab the best deal

If you are planning to take a personal loan from the top 10 government banks (as per asset size), here is the list of interest rates they are offering.

Interest Rates on Personal Loan

(For Top 10 PSU Banks By Asset Size)

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

Lender’s Name

Interest Rate

(% Pa)

EMI (In Rs)

Union Bank

8.90% – 12.00%

₹ 3175 – ₹ 3321

Punjab National Bank

8.95% – 11.80%

₹ 3178 – ₹ 3312

Indian Bank

9.20% – 9.80%

₹ 3189 – ₹ 3217

State Bank of India

9.60% – 13.85%

₹ 3208 – ₹ 3410

Central Bank of India

9.85% – 10.05%

₹ 3220 – ₹ 3229

UCO Bank

10.05% – 10.30%

₹ 3229 – ₹ 3241

Bank of Baroda

10.25% – 15.60%

₹ 3238 – ₹ 3496

Canara Bank

11.25% – 13.90%

₹ 3286 – ₹ 3413

Indian Overseas Bank

11.30% – 12.05%

₹ 3288 – ₹ 3324

Bank of India

11.35% – 12.35%

₹ 3290 – ₹ 3386

Data Compiled by BankBazaar.com from respective bank’s website as on 8 Oct 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 salaried individual for regular personal loan products offered by PSU 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.

BankBazaar.com, India’s leading online marketplace for loans and credit cards.

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