Personal Loan

A personal loan is a loan that does not require collateral or security and is offered with minimal documentation.

You can use the funds from this loan for any legitimate financial need. Like any other loan, you must repay it accordance to the agreed terms with the bank. Normally this can include a few months to a few years in easy equated monthly instalments.

One needs to be of a minimum age of 21 years and should have a valid set of documents like ID, income and residence proof, among other documents, to avail a Personal Loan.

To ease the burden of paying off the Personal Loan immediately, you may opt for the EMI (Equated Monthly Instalment) facility. The repayment tenure can range from anywhere between 12 to 60 months. If you’re an Axis Bank customer, you can avail the best rates for Personal Loans!

To know how much you need to pay per month, there is a Personal Loan calculator at your disposal. You can choose your tenure and the amount that you are comfortable repaying each month for the chosen tenure. With the Personal Loan EMI Calculator, you can also calculate the compound interest and know exactly how much you need to finally part with - including the interest.

Latest Personal Loan Interest Rates in India 2021

Banks/NBFCs Interest Rate (p.a.) Loan Amount (Rs.) Lender Type EMI/1 lakh for 1 year (Rs.)
UCO Bank 8.45% onwards Up to 10 lakh Public Sector Bank 8,720.00
Central Bank of India 8.45% onwards Up to 20 lakh Public Sector Bank 8,720.00
Union Bank of India 8.90% onwards Up to 15 lakh Public Sector Bank 8,741.00
Andhra Bank 8.90% onwards Up to 15 Lakh Public Sector Bank 8,741.00
Punjab National Bank 8.95% onwards 25,000 to 15 lakh Public Sector Bank 8,743.00
Indian Bank 9.05% onwards As per Applicant Profile Public Sector Bank 8,747.00
Allahabad Bank 9.05% onwards As per applicant profile Public Sector Bank 8,747.00
Bank of India 9.35% onwards Up to 10 lakh Public Sector Bank 8,761.00
Bank of Maharashtra 9.55% onwards Up to 20 lakh Public Sector Bank 8,771.00
State Bank of India 9.60% onwards Up to 20 lakh Public Sector Bank 8,773.00
Citibank 9.99% onwards 10,000 to 30 lakh Foreign Bank 8,791.00
HSBC 9.99% onwards Up to 30 lakh Foreign Bank 8,791.00
Indian Overseas Bank 10.30% onwards Up to 15 lakh Public Sector Bank 8,806.00
Federal Bank 10.49% onwards Up to 25 lakh Private Sector Bank 8,814.00
Yes Bank 10.49% onwards 1 lakh to 40 lakh Private Sector Bank 8,814.00
Bank of Baroda 10.50% onwards 50,000 to 10 lakh Public Sector Bank 8,815.00
HDFC Bank 10.50% onwards 50,000 to 40 lakh Private Sector Bank 8,815.00
Kotak Mahindra Bank 10.50% onwards 50,000 to 20 lakh Private Sector Bank 8,815.00
ICICI Bank 10.50% onwards 50,000 to 25 lakh Private Sector Bank 8,815.00
Tata Capital 10.99% onwards 75,000 to 25 lakh Non-Banking Financial Company 8,838.00
IndusInd Bank 11.00% onwards 50,000 to 15 lakh Private Sector Bank 8,838.00
IDFC First Bank 11.00% onwards 1 lakh to 25 lakh Private Sector Bank 8,838.00
Axis Bank 11.00% onwards 50,000 to 15 lakh Private Sector Bank 8,838.00
Standard Chartered Bank 11.00% onwards 1 lakh to 50 lakh Foreign Bank 8,838.00
Bajaj Finserv 11.49% onwards Up to 25 lakh Non-Banking Financial Company 8,861.00
IDBI Bank 12.00% onwards 25,000 to 5 lakh Private Sector Bank 8,885.00
Kreditbee 12.24% onwards 1000 to 2 lakh App-based Online Lender 8,896.00
MoneyTap 12.96% onwards 3000 to 5 lakh App-based Online Lender 8,930.00
Fullerton India 13.00% onwards Up to 25 lakh Non-Banking Financial Company 8,932.00
Muthoot Finance 13.75% onwards 50,000 onwards Non-Banking Financial Company 8,967.00
Indiabulls 13.99% onwards 1000 to 15 lakh Non-Banking Financial Company 8,978.00
RBL Bank 14.00% onwards 1 lakh to 20 lakh Private Sector Bank 8,979.00
Moneyview 15.96% onwards 10,000 to 5 lakh App-based Online Lender 9,071.00
Home Credit 24.00% onwards Up to 2.4 lakh Non-Banking Financial Company 9,456.00
EarlySalary 24.00% onwards Up to 5 lakh App-based Online Lender 9,456.00
CASHe 33.00% onwards 7000 to 3 lakh App-based Online Lender 9,897.00