Rates & lenders
Top Personal Loans in India 2026
8 banks compared on starting rate, maximum rate, fees, loan size, tenure and foreclosure terms.
Updated 30 September 2026 · 8 lenders trackedLowest personal loan rate
9.99%
Axis Bank Personal LoanWhat you need to know
ICICI Bank, HDFC Bank, Axis Bank and IDFC FIRST Bank all start at 9.99%, SBI at 10.00% and Bank of Baroda at 10.15%. The better choice often comes down to fees, foreclosure terms and whether you have a salary account with the bank — a loan that starts 0.25% cheaper can cost more if you plan to close it early and it carries a 5% foreclosure charge.
All lenders compared
Lowest (starting) rateHighest published rate
9%13%17%21%25%
| Lender | Interest rate (p.a.) | Processing fee | Tenure | EMI per ₹1 lakh* | Rates as of |
|---|---|---|---|---|---|
| Axis Bank Personal LoanPrivate sector bank | 9.99% – 21.55% | Up to 2% of loan + GST | 12 – 84 months | ₹2,124 | Sep 2026 |
| HDFC Bank Personal LoanPrivate sector bank | 9.99% – 24.00% | Up to ₹6,500 + GST | 12 – 60 months (up to 72–84 months for select segments) | ₹2,124 | Sep 2026 (aggregator) |
| ICICI Bank Personal LoanPrivate sector bank | 9.99% – 16.50% | Up to 2% of loan + GST | — | ₹2,124 | Apr – Jun 2026 quarter |
| IDFC FIRST Bank Personal Loan (FIRSTmoney)Private sector bank | 9.99% onwards | 0% – 3.5% of loan (incl. GST); zero on select amounts | 9 – 60 months | ₹2,124 | Sep 2026 |
| SBI Personal Loan (Xpress Credit)Public sector bank | 10.00% – 15.00% | 1.50% of loan (min ₹1,000, max ₹15,000) + GST | 6 – 84 months | ₹2,125 | Jun – Sep 2026 |
| Bank of Baroda Personal LoanPublic sector bank | 10.15% – 17.50% | Nil for government employees with BoB salary account; others 1% – 2% + GST (min ₹1,000, max ₹10,000) | Up to 84 months (salaried); 48 – 60 months (non-salaried) | ₹2,132 | BRLLR 7.90% (6 Dec 2025); rates Sep 2026 |
| YES Bank Personal LoanPrivate sector bank | 10.85% – 21.00% | Up to 2.5% of loan | 12 – 72 months | ₹2,167 | 2026 (aggregator, no exact date) |
| Kotak Mahindra Bank Personal LoanPrivate sector bank | 10.99% onwards | Up to 5% of loan + GST | 12 – 72 months | ₹2,174 | Sep 2026 (Paisabazaar, 21 Sep 2026) |
* At the lowest rate for 5 years. Starting rates go to borrowers with strong credit scores and income; your rate depends on your profile. Sources and dates on each lender page — confirm with the lender before applying.
Best for
| Need | Lenders to look at |
|---|---|
| Lowest starting rate | ICICI Bank, HDFC Bank, Axis Bank, IDFC FIRST (9.99%) |
| Lowest published maximum rate | SBI (15.00%), ICICI Bank (16.50%) |
| No foreclosure charge | IDFC FIRST Bank; ICICI Bank after 24 EMIs; Bank of Baroda (floating option) |
| Government employees | Bank of Baroda (10.15%, nil fee with salary account), SBI Xpress Credit |
| Longest tenure | SBI, Axis Bank, Bank of Baroda — up to 84 months |
| Largest loan | SBI, ICICI Bank, YES Bank — up to ₹50 lakh |
| Low processing-fee cap | HDFC Bank (₹6,500), BoB (₹10,000), SBI (₹15,000) |
Special schemes
| Lender | Scheme / feature | Details |
|---|---|---|
| HDFC Bank Personal Loan | Loans for government employees | Longer tenure of up to 7 years |
| ICICI Bank Personal Loan | Instant pre-approved loan | For existing ICICI customers, disbursed digitally |
| ICICI Bank Personal Loan | Loan cancellation | Free within the cooling-off period; ₹2,500 afterwards |
| IDFC FIRST Bank Personal Loan (FIRSTmoney) | FIRSTmoney | Digital personal loan with instant approval in the app |
| IDFC FIRST Bank Personal Loan (FIRSTmoney) | Higher-limit personal loan | Variant for larger amounts (up to ₹50 lakh per Paisabazaar) |
| SBI Personal Loan (Xpress Credit) | Real-Time Xpress Credit (RTXC) | Fully digital on YONO for salary-account customers, with instant disbursal |
| SBI Personal Loan (Xpress Credit) | Pre-Approved Personal Loan (PAPL) | Offer based on your SBI account history, available in YONO |
| SBI Personal Loan (Xpress Credit) | Pension Loan | For SBI pensioners, tenure up to 7 years |
| SBI Personal Loan (Xpress Credit) | Xpress Flexi | Overdraft-style variant priced about 0.25% above Xpress Credit; pay interest on the amount used |
| Bank of Baroda Personal Loan | Baroda Personal Loan — government employees | 10.15% – 10.65% and nil processing fee with a BoB salary account |
| Bank of Baroda Personal Loan | Floating-rate personal loan | Rare among banks; no prepayment charge under RBI rules |
Fees and foreclosure
| Lender | Processing fee | Prepayment / foreclosure |
|---|---|---|
| Axis Bank Personal Loan | Up to 2% of loan + GST | Foreclosure 5% + GST; part-payment 3% or 2% depending on tenure (BankBazaar) |
| HDFC Bank Personal Loan | Up to ₹6,500 + GST | Foreclosure: 4% of principal outstanding up to 24 EMIs, 3% from 25 to 36 EMIs, 2% after 36 EMIs (+ GST) |
| ICICI Bank Personal Loan | Up to 2% of loan + GST | Foreclosure and part-payment: 3% of principal outstanding if the loan is up to 24 months old; nil after 24 EMIs |
| IDFC FIRST Bank Personal Loan (FIRSTmoney) | 0% – 3.5% of loan (incl. GST); zero on select amounts | Zero foreclosure charges |
| SBI Personal Loan (Xpress Credit) | 1.50% of loan (min ₹1,000, max ₹15,000) + GST | SBI’s RTXC page lists no prepayment penalty, but aggregators report 3% of the amount prepaid on fixed-rate Xpress Credit — confirm in your KFS |
| Bank of Baroda Personal Loan | Nil for government employees with BoB salary account; others 1% – 2% + GST (min ₹1,000, max ₹10,000) | Zero prepayment charges (ClearTax); the official page is silent. On the floating-rate option RBI rules bar prepayment charges anyway |
| YES Bank Personal Loan | Up to 2.5% of loan | Foreclosure up to 4% of outstanding principal; part-prepayment allowed after 12 EMIs |
| Kotak Mahindra Bank Personal Loan | Up to 5% of loan + GST | Foreclosure 5% of outstanding principal + GST (BankBazaar) |
Frequently asked questions
Which personal loan is best?
There is no single best loan. Compare the APR in the KFS (it includes fees), the foreclosure charge if you may repay early, and the rate you are actually offered — which depends on your score and employer.
Are bank personal loans cheaper than NBFC or app loans?
Banks usually offer lower rates to salaried borrowers with good scores. Whatever you choose, check that the lender is RBI-regulated and compare APRs.
For information and comparison only. Loan terms, rates and rules change — confirm with the lender and read the Key Facts Statement before borrowing.