Personal Loans · Cluster · Reviewed 2026-04-25
Personal Loan Rates 2026 — Published Lender Comparison
Published personal-loan rates from 12 Indian lenders, as listed in our lender table and sorted ascending. HDFC Bank, ICICI Bank, Axis Bank, and IDFC First Bank start at 9.99%, with SBI and Bajaj Finserv at 10.00%. We highlight processing fee, prepayment terms, and the prime-tier cut-offs.
Rate snapshot
| Lender | Min % | Max % |
|---|---|---|
| HDFC Bank | 9.99 | 24.00 |
| ICICI Bank | 9.99 | 16.50 |
| Axis Bank | 9.99 | 22.00 |
| IDFC First Bank | 9.99 | 23.99 |
| State Bank of India | 10.00 | 15.00 |
| Bajaj Finserv | 10.00 | 30.50 |
| IndusInd Bank | 10.49 | 24.00 |
| Yes Bank | 10.85 | 20.00 |
Step-by-step
- Compare lender rates side-by-side. Use the rate board to shortlist 3-4 lenders matching your profile and tenure preference.
- Run an eligibility check. Match income, CIBIL, vintage, and existing-EMI ratios against each lender's published cut-offs.
- Collect KYC + income documents. PAN, Aadhaar, salary slips (3 months) or ITR (2 years for self-employed), bank statements (6 months).
- Submit application + soft-pull. Most digital lenders use soft credit pull at the offer stage so your CIBIL is unaffected.
- Sanction letter + acceptance. Read the sanction letter carefully — focus on processing fee, foreclosure terms, and reset clauses.
- Disbursal. Funds typically credited within 24-72 hours of acceptance for unsecured products.
FAQ
Why do lender rates differ so much?
Rates are risk-priced. Each lender's funding cost, operating cost, and target customer segment combine into the band you see.
Can I negotiate a personal loan rate?
If you have a strong CIBIL and a salary-account relationship, ask the lender whether a rate reduction is available at sanction stage. Any intermediary role, compensation, and final pricing depend on the current written lender arrangement.
Are festive / monsoon offers genuine?
Yes but limited. Banks waive the processing fee or shave 25 bps off the headline rate during Diwali / quarter-end pushes.
Should I prefer a low rate or low EMI?
Lowest rate × shortest tenure = least interest paid. Don't stretch tenure just to lower the EMI — total cost balloons.
What is the all-in cost (APR) for a typical 2026 loan?
Headline rate + processing fee + GST + insurance (if bundled) usually adds 100-200 bps to the headline. Always compute APR not just rate.
Are NBFC rates always higher than banks?
Yes, by 100-300 bps typically — they pay more for their funds. The trade-off is faster turnaround and easier underwriting.
How often do personal loan rates reset?
Most are fixed-rate. Floating-rate variants (rare in personal segment) reset quarterly with bank's MCLR / EBLR.
Will rates fall in 2026?
RBI cut the repo rate to 5.25% by December 2025 and has held it there since, including at the August 2026 policy review. Most personal loans are fixed-rate, so a repo change mainly affects new sanctions. Any further move depends on inflation and RBI guidance.
Related
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