Rates last reviewed August 2026

Compare Personal Loans in India Across 20 Lenders

Interest rates from 8.9% p.a., eligibility, documents and fees for India's top banks, NBFCs and fintech lenders — all in one place.

Check Eligibility — FreeBrowse lenders

Lowest Rate

8.9%

PNB & Union Bank

Highest Loan Limit

₹50 lakh

ICICI & IndusInd

Fastest Disbursal

15 min

KreditBee

Lowest CIBIL Bar

None

New-to-credit accepted

Personal Loan Guides

In-depth guides to help you borrow smarter

Personal Loan Interest Rates

Compare rates across 20 banks, NBFCs and fintechs in India

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Personal Loan Eligibility

Who qualifies and how to improve your chances of approval

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Documents Required for Personal Loan

Complete checklist for salaried, self-employed and government employees

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Personal Loan Processing Fees

Transparent breakdown of charges — find the cheapest loan

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Personal Loan Balance Transfer

Move your loan to a lower rate and cut your interest cost

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Pre-Approved Personal Loans

Instant offers based on your existing relationship with a lender

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Instant Personal Loans

Disbursal in minutes — how they work and who offers them

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Personal Loans for Self-Employed

Best options when you don't have a salary slip

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Personal Loan Without Salary Slip

Alternate income proofs lenders accept

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Personal Loan with Low Credit Score

Options even when your CIBIL score is below 700

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Prepayment & Foreclosure Charges

Know the real cost of closing your loan early

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Debt Consolidation Personal Loan

Combine multiple debts into one lower EMI

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Lowest Personal Loan Interest Rates

Top 8 lenders by starting rate

Lowest personal loan interest rates
LenderInterest RateMax AmountMax TenureMin CIBILProcessing Fee
Punjab National BankLow PSU Rate8.9%–14.5%₹10 lakh60 months6501% + GST
Union Bank of IndiaLowest Rate8.9%–13.5%₹15 lakh60 months6500.5%
Canara Bank9.9%–15%₹10 lakh60 months6500.5%
Poonawalla FincorpLowest NBFC Rate9.99%–29%₹30 lakh60 months6800–2% (NIL for select customers)
Axis Bank10.49%–22%₹40 lakh60 months7001.5%–2%
IDFC FIRST Bank10.49%–23.99%₹40 lakh84 months700Up to 2%
IndusInd Bank10.49%–26%₹50 lakh60 months700Up to 3%
HDFC BankMost Popular10.5%–24%₹40 lakh60 months700Up to 2.5% (min ₹999)

Last reviewed August 2026. Actual terms depend on your credit profile and the lender's assessment. GST at 18% applies on fees.

See all 20 lenders' rates

Compare by Lender

Rates, eligibility, documents and fees for each lender

HDFC Bank Personal Loan

Bank
Most Popular
From
10.5%
Up to
₹40 lakh
Min CIBIL
700
View details

State Bank of India Personal Loan

Bank
Govt Employee Favourite
From
11.05%
Up to
₹20 lakh
Min CIBIL
650
View details

ICICI Bank Personal Loan

Bank
High Limit
From
10.65%
Up to
₹50 lakh
Min CIBIL
700
View details

Poonawalla Fincorp Personal Loan

NBFC
Lowest NBFC Rate
From
9.99%
Up to
₹30 lakh
Min CIBIL
680
View details

Hero FinCorp Personal Loan

NBFC
From
11%
Up to
₹5 lakh
Min CIBIL
650
View details

Prefr Personal Loan

Fintech
Low CIBIL OK
From
15%
Up to
₹5 lakh
Min CIBIL
600
View details

Axis Bank Personal Loan

Bank
From
10.49%
Up to
₹40 lakh
Min CIBIL
700
View details

Kotak Mahindra Bank Personal Loan

Bank
From
10.99%
Up to
₹40 lakh
Min CIBIL
700
View details

Bajaj Finserv Personal Loan

NBFC
Longest Tenure
From
11%
Up to
₹40 lakh
Min CIBIL
685
View details

IDFC FIRST Bank Personal Loan

Bank
From
10.49%
Up to
₹40 lakh
Min CIBIL
700
View details

IndusInd Bank Personal Loan

Bank
From
10.49%
Up to
₹50 lakh
Min CIBIL
700
View details

Tata Capital Personal Loan

NBFC
From
10.99%
Up to
₹35 lakh
Min CIBIL
680
View details

Yes Bank Personal Loan

Bank
From
10.99%
Up to
₹40 lakh
Min CIBIL
700
View details

Punjab National Bank Personal Loan

Bank
Low PSU Rate
From
8.9%
Up to
₹10 lakh
Min CIBIL
650
View details

Bank of Baroda Personal Loan

Bank
From
10.9%
Up to
₹10 lakh
Min CIBIL
650
View details

Federal Bank Personal Loan

Bank
From
11%
Up to
₹25 lakh
Min CIBIL
680
View details

Union Bank of India Personal Loan

Bank
Lowest Rate
From
8.9%
Up to
₹15 lakh
Min CIBIL
650
View details

Canara Bank Personal Loan

Bank
From
9.9%
Up to
₹10 lakh
Min CIBIL
650
View details

MoneyView Personal Loan

Fintech
Instant Approval
From
15.96%
Up to
₹10 lakh
Min CIBIL
600
View details

KreditBee Personal Loan

Fintech
NTC Welcome
From
17%
Up to
₹5 lakh
Min CIBIL
None
View details

RBI-registered partners

Loans come only from regulated banks and NBFCs

No CIBIL impact

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Fast & digital

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Personal Loan FAQs

What is a personal loan?

A personal loan is an unsecured loan you can use for almost any purpose — medical costs, a wedding, travel, home repairs or paying off expensive debt. You repay it in fixed monthly EMIs over 1–8 years, and no collateral is needed.

What is the lowest personal loan interest rate in 2026?

Among the 20 lenders we compare, starting rates begin at 8.9% p.a. (Punjab National Bank and Union Bank of India). Your actual rate depends on your credit score, income and employer.

How do I choose the best personal loan?

Compare the total cost — interest rate plus processing fee and other charges — not just the headline rate. Check eligibility first so you only apply where you're likely to be approved, and pick the shortest tenure whose EMI you can comfortably afford.

Does checking personal loan offers on RateCut affect my CIBIL score?

No. RateCut uses a soft check to match you with offers, which does not affect your CIBIL score. A hard enquiry happens only when you formally apply with a lender.

Is RateCut a lender?

No. RateCut is a digital loan marketplace operated by Leverse Labs Private Limited. Loans are sanctioned and disbursed by our RBI-registered lending partners.

Compare personal loan offers in minutes

Get matched with RBI-registered lenders. Checking offers doesn't affect your CIBIL score.

Check Eligibility — FreeCompare Lenders

Figures last reviewed August 2026 and shown for information only. Interest rates, fees and eligibility are set by each lender and depend on your credit profile — confirm the final terms in the lender's Key Fact Statement before you sign. RateCut is a loan marketplace, not a lender.