Best Personal Loan Interest Rates in India: Compare & Save

By Thelowinterest 30 May, 2026

Personal Loan Interest Rate Comparison: Best Rates from Top Banks & NBFCs in India

Personal Loan Interest Rate Comparison India:…

Personal loan interest rates in India range from 9.99% p.a. to over 36% p.a. in 2026. The gap between the best and worst rate for the same loan amount can mean lakhs of rupees difference in total repayment. This guide gives you up-to-date, side-by-side rate data so you can find the lender that makes the most financial sense for your profile.

Current Personal Loan Interest Rates: Banks (May 2026)

Bank	Interest Rate (p.a.)	Processing Fee	Min CIBIL
State Bank of India	11.15% – 14.6%	1.5% + GST	700
HDFC Bank	10.5% – 21%	0.5%–2.5%	730
ICICI Bank	10.75% – 19%	0.5%–2%	720
Axis Bank	10.49% – 22%	Up to 2%	700
Kotak Mahindra Bank	10.99% – 36%	0.99%–2.5%	720
Bank of Baroda	11.4% – 18.75%	Up to 2%	700
Punjab National Bank	11.4% – 16.95%	1%	700

Current Personal Loan Interest Rates: NBFCs (May 2026)

NBFC	Interest Rate (p.a.)	Processing Fee	Min CIBIL
Poonawalla Fincorp	9.99% – 24%	Up to 2%	700
Tata Capital	10.99% – 24%	Up to 2.75%	700
Bajaj Finserv	11% – 28%	Up to 3.93%	685
Aditya Birla Capital	12% – 30%	Up to 3%	680
L&T Finance	12% – 24%	Up to 2%	700
MoneyView	15.96% – 39.99%	Up to 2%	650
KreditBee	16% – 30%	Up to 3%	650

4 Factors That Determine Your Personal Interest Rate

• CIBIL Score: The single biggest factor. A score above 750 can get you rates 3–6% lower than someone with a 650 score, on the same loan.

• Employer Type: Government employees, PSU staff, and employees of top-rated companies get preferential rates — often 0.5%–1% lower.

• Income Level: Higher income signals greater repayment capacity. Borrowers earning above ₹75,000 per month typically get better rates.

• Existing Relationship with Lender: Pre-approved offers from your salary account bank are almost always at lower rates than the publicly advertised rate.

TIP: Negotiation Tip: Many lenders in India will match or beat a competitor's rate if you show them a written quote. Use loan comparison platforms to generate competing offers, then use the best quote to negotiate with your preferred bank.

Q: What is the current personal loan interest rate in India?

A: As of May 2026, personal loan rates in India range from 9.99% p.a. (Poonawalla Fincorp for top-tier borrowers) to over 30% p.a. for borrowers with lower credit scores at digital NBFCs. The average rate for a salaried employee with a 720 CIBIL score is approximately 12%–15% p.a.

Q: How can I get the lowest personal loan interest rate?

A: Maintain a CIBIL score above 750, apply through your existing salary account bank for pre-approved offers, compare at least five lenders before accepting any offer, and always calculate the effective annual rate including all fees.

CONCLUSION

Securing the lowest personal loan interest rate in India requires clear market visibility and a strong financial profile.

While top banks offer highly competitive rates for premium borrowers, flexible NBFCs bridge the gap for those with lower CIBIL scores.

Remember that even a 1% difference in your final rate can save you thousands of rupees over a multi-year loan tenure.

At TheLowInterest.com, we simplify this entire process by bringing live, updated interest rates directly to your screen.

Our comparison engine evaluates your unique credit profile to match you with lenders offering the most favorable terms.

Explore your personalized, pre-approved options today to make an informed borrowing choice that keeps your wallet happy.

→TheLowInterest.com updates rate data daily. Enter your loan amount and credit profile to instantly see which lender offers you the lowest rate today — no obligation, no credit impact.