Rates start at 9.99% p.a. and run past 30% at the far end of the market. The gap between those two numbers on a ₹10 lakh loan is more than ₹6 lakh of interest, which is the entire reason this page exists.
Comparing costs nothing and leaves no mark on your credit score. Rates last checked 3rd August 2026.
lowest rate on the panel, per annum
largest sanction, at Kotak Mahindra
longest tenure, at Bajaj Finance
lowest capped processing fee, at HDFC
onwards, for the strongest profiles
up to ₹1 crore with Kotak Mahindra
up to 108 months with Bajaj Finance
of the sanctioned amount, plus GST
the EMI stays level for the full term
nil on floating-rate loans since 2026
Every name below opens a page with that lender's full terms — rate bands by product, fees, eligibility, documents and the things worth knowing before you sign. Figures are the published headline as of 3rd August 2026.
| Lender | Interest rate (p.a.) | Loan amount up to | Max tenure | Processing fee | |
|---|---|---|---|---|---|
| Axis BankPrivate bank | 9.99% onwards* | ₹40 lakh | 84 months | Up to 2% | Apply |
| Bajaj FinanceNBFC | 10.00% - 30.00% | ₹55 lakh | 108 months | Up to 3.93% | Apply |
| Federal BankPrivate bank | 12.00% - 22.50%* | ₹25 lakh | 60 months | Up to 2% | Apply |
| HDFC BankPrivate bank | 9.99% onwards | ₹50 lakh | 84 months | Up to ₹6,500 | Apply |
| ICICI BankPrivate bank | 9.99% onwards | ₹50 lakh | 72 months | Up to 2% | Apply |
| IDFC FIRST BankPrivate bank | 9.99% onwards | ₹15 lakh | 60 months | Up to 3.5% | Apply |
| IndusInd BankPrivate bank | 10.35% onwards* | ₹5 lakh | 48 months | Up to 3.5% | Apply |
| Kotak Mahindra BankPrivate bank | 9.99% onwards* | ₹1 crore | 72 months | Up to 5% | Apply |
| MoneyviewNBFC | 14.00% onwards | ₹10 lakh | 60 months | 2% onwards | Apply |
| Tata CapitalNBFC | 10.99% onwards | ₹35 lakh | 72 months | Up to 3.5% | Apply |
* A limited-period or partner-channel rate rather than the lender's standard pricing. Rates are indicative and depend on your bureau record, income and employer — the offer you receive may differ.
A five-year loan looks affordable on the EMI and expensive on the total. Both numbers are below, along with the year-by-year split between principal and interest.
Move the sliders to see what an instalment actually costs. The interest figure is what the loan adds to the amount you borrow.
Early instalments are mostly interest. The principal only starts falling quickly in the closing years, which is why prepaying early saves so much more than prepaying late.
| Year | Principal paid | Interest paid | Balance |
|---|
A personal loan is unsecured, so the assessment is entirely about income and repayment history. There is no asset to fall back on, which is why the bureau score carries so much weight.
Lenders market these as separate products, but they differ mainly in how the money reaches you and how interest is charged.
The ordinary product: a lump sum, a fixed rate and a level EMI for the whole tenure. Simplest to compare and usually the cheapest.
Offered to existing customers off the back of salary credits the lender can already see. Little to no paperwork and disbursal in minutes, but the rate is set rather than negotiated.
A sanctioned limit you draw against, with interest only on what is drawn. Costs more in facility charges but far less when the need for money is uneven.
An enhancement on a loan already running, priced against the existing rate. Faster than a fresh application because the file is already verified.
Moving a high-rate loan to a cheaper lender. Worth doing when the rate gap covers the new processing fee and the old lender’s foreclosure charge.
A small, quick facility on the strength of the salary relationship alone. Convenient, and rarely the cheapest option on the market.
A 0.5% difference in rate is often smaller than the difference in processing and foreclosure charges. Read this list against the rate table before choosing.
RBI now bars prepayment and foreclosure charges on floating-rate loans to individual borrowers. Most personal loans are fixed-rate, so the relief does not always apply — but it is worth asking which one you are being offered. Lenders must also hand you a Key Fact Statement setting out the all-in cost before you sign.
The sequence matters. Applying before checking eligibility is the most common way a good file gets an avoidable rejection on record.
Rate, processing fee and foreclosure terms together — not the rate alone.
Income, age and bureau score against the lender’s published floor.
Several applications at once leaves an enquiry cluster that hurts your score.
Income and KYC verification, then the Key Fact Statement and the agreement.
Same day at the digital lenders, three to ten working days at most banks.
Lenders publish one number and offer a range. These are the inputs that decide where in that range your file lands.
The single biggest lever. Above 760 you are quoted the floor rate; below 700 the same lender may add four or five percentage points.
A higher salary at a listed employer is priced better than the same salary at an unlisted one.
Every running EMI eats into the half of your income a lender is willing to commit.
Larger tickets over longer terms carry more risk, and the rate reflects it.
A salary account or a repaid loan is worth a real discount, and is the basis for most pre-approved offers.
Public banks price lowest and assess slowest; NBFCs price highest and lend where banks will not.
Almost every personal loan in India is fixed-rate, so the EMI never moves. A floating rate tracks the lender's benchmark and can fall — and since 2026 carries no prepayment charge for individuals — but it can rise just as easily.
A flat rate charges interest on the full principal for the whole term, which makes 10% flat cost roughly the same as 18% reducing. Every figure on this site is reducing balance. If a quote looks unusually cheap, check which one it is.
Lowest rates, tightest eligibility, slowest decisions. Best if you qualify and can wait.
A balance of rate and speed, with pre-approved offers for existing customers.
Highest rates and the widest eligibility. The right answer when a bank has said no.
Checking a rate, comparing two lenders or getting an offer approved all credit FinCoins to your wallet, and they convert 1:1 into rupees.
Bank of Maharashtra and Union Bank of India publish 8.75% p.a. at the bottom of their bands, and among private lenders Axis, HDFC, ICICI, IDFC FIRST and Kotak all start at 9.99%. Those floors go to applicants with bureau scores above 760, stable income and no existing overdues.
Lenders cap the EMI on all your loans at roughly half your net monthly income and work backwards. On ₹50,000 a month with nothing else running, that supports around ₹12.9 lakh over five years at 10% p.a. Any EMI you already pay comes straight off that figure.
No. Comparing and checking eligibility involve no bureau enquiry at all. A hard enquiry is only raised when you formally submit an application to a lender, which is why applying to several at once is worth avoiding.
Not always. A lender at 9.99% with a 5% processing fee can cost more over a two-year term than one at 11% charging 1.5%. Compare the total outgo — the calculator on this page gives you the interest figure to add the fees to.
760 and above gets the best pricing from any lender. Between 700 and 759 most lenders will approve you slightly above their floor rate. Between 650 and 699 the banks generally decline and NBFCs such as Moneyview, HDB and Shriram become the realistic route.
It depends on the lender. IDFC FIRST charges nothing from the first EMI and Federal Bank charges nothing at all; ICICI waives it after 24 EMIs; most others charge 2% to 5% of the outstanding principal. Since 2026, floating-rate loans to individuals carry no prepayment charge by regulation.
The common reasons are a bureau score below the lender’s floor, existing EMIs already consuming more than half your income, income under the published minimum, an address or employer outside the lender’s serviceable list, or a cluster of recent applications elsewhere.
10 lender detail pages, 34 lenders in the rate table. Rates and charges are the published figures as of 3rd August 2026 and change without notice; confirm the terms with the lender before you sign.