Best personal loan interest rates in India
Indicative rates, processing fees and terms across 8 major lenders, as of June 2026. The rate you're offered depends on your credit profile.
By NexMaxo Editorial Team · Rates verified June 2026· Indicative & profile-dependent
Some lender links are affiliate links — if you take a loan through them we may earn a commission, at no extra cost to you. It never changes the order, which is sorted purely by the lowest published rate. How we make money →
The “from” rate is the best case. Personal-loan rates are set per borrower — the lowest advertised rate goes to people with a high credit score and stable income. Most applicants are offered a higher rate within the range shown. Compare the full range, processing fee and foreclosure terms, and confirm your actual offer before borrowing.
8 lenders compared
Sorted by the lowest published starting rate. All rates indicative, as of June 2026.
| Lender | Rate (p.a.) | Processing fee | Max amount | Apply |
|---|---|---|---|---|
| Axis Bank | 9.99%–22% p.a. (indicative) | Up to 2% + GST | Up to ₹40 lakh | View |
| HDFC Bank | 9.99%–24% p.a. (indicative) | Up to ₹6,500 + GST (≈2% of loan) | Up to ₹40 lakh (₹50 lakh for pre-approved) | View |
| ICICI Bank | 9.99%–16.50% p.a. (indicative) | Up to 2% + GST | Up to ₹50 lakh | View |
| IDFC FIRST Bank | From 9.99% p.a. (reducing balance, indicative) | 0%–3.5% + GST (0% on select offers) | Up to ₹1 crore (standard) | View |
| Bajaj Finserv | From ~10% p.a. (up to ~31%, indicative) | Up to ~3.93% + GST | Up to ₹55 lakh | View |
| State Bank of India | From ~10.00% p.a. (Xpress Credit, employer-tiered) | Up to 1.5% + GST (₹1,000–₹15,000) | Up to ₹35 lakh (₹50 lakh select segments) | View |
| Kotak Mahindra Bank | 10.99%–24% p.a. (indicative) | Up to 5% + GST | Up to ₹35 lakh | View |
| Tata Capital | 10.99%–29.99% p.a. (indicative) | Up to ~3.5% + GST | Up to ₹35 lakh | View |
Indicative rates verified as of June 2026; the actual rate, fee and limit depend on your profile and the lender's assessment. Confirm on the lender's official page before applying.
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Each lender in detail
- Processing fee
- Up to 2% + GST
- Max amount
- Up to ₹40 lakh
- Max tenure
- Up to 7 years
- Eligibility
- Salaried, 21–60 yrs; self-employed directed to business loans
- Foreclosure / prepayment
- ≈2%–5% of outstanding (profile-dependent)
- Processing fee
- Up to ₹6,500 + GST (≈2% of loan)
- Max amount
- Up to ₹40 lakh (₹50 lakh for pre-approved)
- Max tenure
- Up to 6 years
- Eligibility
- Salaried 21–60 yrs; net income ≈₹25,000+/mo; credit score 720+
- Foreclosure / prepayment
- No prepay in first 12 EMIs; then 4% / 3% / 2% by EMI band (+GST)
- Processing fee
- Up to 2% + GST
- Max amount
- Up to ₹50 lakh
- Max tenure
- Up to 6 years
- Eligibility
- Salaried 20–58 yrs (₹30,000+/mo) or self-employed 23–65; score 750+ for the best rate
- Foreclosure / prepayment
- 3% if ≤24 months seasoning; nil after 24 EMIs (+GST)
- Processing fee
- 0%–3.5% + GST (0% on select offers)
- Max amount
- Up to ₹1 crore (standard)
- Max tenure
- Up to 7 years
- Eligibility
- Salaried & self-employed; net income ≈₹20,000+/mo; ~21–60 yrs
- Foreclosure / prepayment
- Nil on FIRSTmoney; standard ~nil after lock-in (aggregator-sourced)
- Processing fee
- Up to ~3.93% + GST
- Max amount
- Up to ₹55 lakh
- Max tenure
- Up to 7 years
- Eligibility
- Salaried & self-employed, ~21–80 yrs; net income ≈₹25,000+/mo
- Foreclosure / prepayment
- Up to ~4.72% (incl. taxes) on outstanding principal
- Processing fee
- Up to 1.5% + GST (₹1,000–₹15,000)
- Max amount
- Up to ₹35 lakh (₹50 lakh select segments)
- Max tenure
- Up to 6 years (7 for some)
- Eligibility
- Salaried with an SBI salary account; net income ≈₹15,000–25,000/mo; 21–60 yrs
- Foreclosure / prepayment
- ~2% of outstanding; waivers for defence/govt segments
- Processing fee
- Up to 5% + GST
- Max amount
- Up to ₹35 lakh
- Max tenure
- Up to 6 years
- Eligibility
- Salaried only (select professionals at higher rates); profile-dependent
- Foreclosure / prepayment
- ~12-month lock-in, then tiered charges (aggregator-sourced)
- Processing fee
- Up to ~3.5% + GST
- Max amount
- Up to ₹35 lakh
- Max tenure
- Up to 6 years
- Eligibility
- Salaried 21–58 yrs (₹15,000+/mo, score 750+); self-employed too
- Foreclosure / prepayment
- 6-month lock-in; then ~4.5% + GST on outstanding
How we compile this
We list lenders by their lowest published starting rate, taken from each lender's official page and corroborating sources, verified as of June 2026 — never by any commercial arrangement. Because a personal loan is priced per borrower, we show the indicative range, the processing fee and the foreclosure terms rather than a single number, so you can judge the real cost. Our methodology · how we make money.
Personal loans — FAQs
The advertised "starting" rate (here, as low as 9.99% p.a.) goes only to borrowers with the strongest credit profiles — a high credit score, stable income and often an existing relationship with the lender. Most applicants are offered a higher rate within the lender's range. Treat every figure here as indicative, not the rate you're guaranteed.
A one-time fee — usually up to 2%–5% of the loan amount plus GST — that the lender deducts at disbursal, so you receive a little less than the sanctioned amount. Always factor it (and any insurance the lender bundles) into the real cost of borrowing.
Usually yes, after a lock-in period (often 6–12 months). Lenders then charge a foreclosure fee of roughly 2%–5% of the outstanding principal plus GST; some waive it after a period or for certain segments. Check the foreclosure terms before you borrow if you plan to repay early.
A credit score of about 750+ generally gets you approved at the better advertised rates. Below ~700, approval is harder and the rate offered is higher. Check your score (free on the bureaus) before applying, since each application can leave a hard enquiry.
Most Indian personal loans are fixed-rate, so your EMI stays the same for the whole tenure. That makes budgeting easy, but it also means you won't benefit if market rates fall — confirm the rate type with the lender.
This is an informational comparison, not financial advice or a loan offer. Personal-loan rates, fees and limits are indicative, profile-dependent and change frequently — your actual offer depends on the lender's assessment of your credit profile and income. Confirm the current terms on the lender's official page, and borrow only what you can comfortably repay.