Top 10 Banks That Are Offering Lowest Interest Rates

Laveta Brigham

© Provided by BankBazaar.com Taking a personal loan is one of the simplest ways to arrange funds during sudden financial needs. It is an unsecured loan as a borrower is not required to pledge any collateral. Before choosing a lender, you must compare different lenders based on their interest rates […]





© Provided by BankBazaar.com


Taking a personal loan is one of the simplest ways to arrange funds during sudden financial needs. It is an unsecured loan as a borrower is not required to pledge any collateral. Before choosing a lender, you must compare different lenders based on their interest rates and other related fees to make a wise borrowing decision. It is also important to note that banks reserve the best interest rate and others offer for borrowers with a credit score above 750.

If you are planning to take a personal loan, take a quick look at the lowest personal loan interest rates offered by the top 10 banks.

Interest Rates on Personal Loan

(For Top 10 Banks By Asset Size)

EMI on Loan Up to Rs. 100000 for 3 year

Tenure

Lender’s Name Interest Rates (In Rs) EMI (In Rs)
Union Bank 8.90% – 12.00% ₹ 3175 – ₹ 3321
Punjab National Bank 8.95% – 11.80% ₹ 3178 – ₹ 3312
State Bank of India 9.60% – 13.85% ₹ 3178 – ₹ 3312
Bank of Baroda 10.10% – 15.45% ₹ 3231 – ₹ 3489
HDFC Bank 10.75% – 21.30% ₹ 3262 – ₹ 3783
Kotak Mahindra Bank >=10.75% >= ₹ 3262
ICICI Bank 11.25% – 21.00% ₹ 3286 – ₹ 3768
Canara Bank 11.25% – 13.90% ₹ 3286 – ₹ 3413
Bank of India 11.35% – 12.35% ₹ 3290 – ₹ 3338
Axis bank 12.00% – 24.00% ₹ 3321 – ₹ 3923

Disclaimer: Data compiled by BankBazaar.com from respective banks’ websites as on 5 November 2020. The EMI range is indicative and not exhaustive. In actual situation it may include other fees and charges as per bank’s terms and conditions. The interest rate are based as per salaried individual for regular personal loan products. 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.

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.

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