Find the lowest interest rate personal loan with instant approval. Compare offers from 25+ banks.
Lowest starting rate at 10.49%. Quick disbursal within 24 hours for existing customers. Pre-approved offers available on net banking.
Instant approval for existing HDFC customers. Loan up to ₹40 Lakh with flexible tenure. 10-second approval on app.
Pre-approved personal loan up to ₹50 Lakh. Instant disbursal for iMobile users. Competitive rates for high-income earners.
EMI calculated for ₹7 Lakh at default tenure. Sorted by interest rate (lowest first).
| Bank | Interest Rate | EMI (₹7 Lakh) | Max Tenure | Processing Fee | |
|---|---|---|---|---|---|
| Indian Bank | 10.30 - 14.15% | ₹22,686 | 5 yrs | 1% of loan amount + GST | Check Offer → |
| PNB | 10.40 - 14.85% | ₹22,719 | 5 yrs | 1% of loan amount + GST | Check Offer → |
| Axis Bank | 10.49 - 22.00% | ₹22,748 | 5 yrs | Up to 2% | Check Offer → |
| IndusInd Bank | 10.49 - 26.00% | ₹22,748 | 5 yrs | Up to 3% | Check Offer → |
| Yes Bank | 10.49 - 20.00% | ₹22,748 | 5 yrs | Up to 2.50% | Check Offer → |
| Federal Bank | 10.49 - 17.99% | ₹22,748 | 5 yrs | Up to 3% | Check Offer → |
| IDFC First Bank | 10.49 - 23.99% | ₹22,748 | 5 yrs | Up to 3.50% | Check Offer → |
| HDFC Bank | 10.50 - 21.00% | ₹22,752 | 5 yrs | Up to 2.50% of loan amount | Check Offer → |
| IDBI Bank | 10.50 - 14.50% | ₹22,752 | 5 yrs | 1% of loan amount + GST | Check Offer → |
| Canara Bank | 10.55 - 14.20% | ₹22,768 | 5 yrs | 1% of loan amount + GST | Check Offer → |
| Bank of Baroda | 10.60 - 14.50% | ₹22,785 | 7 yrs | 2% of loan amount + GST | Check Offer → |
| Central Bank | 10.70 - 14.70% | ₹22,818 | 5 yrs | 1% of loan amount + GST | Check Offer → |
| ICICI Bank | 10.75 - 19.00% | ₹22,834 | 5 yrs | Up to 2.50% of loan amount | Check Offer → |
| Union Bank | 10.80 - 14.50% | ₹22,851 | 5 yrs | 1% of loan amount + GST | Check Offer → |
| Bank of India | 10.85 - 14.85% | ₹22,867 | 5 yrs | 1.50% of loan amount + GST | Check Offer → |
| Kotak Mahindra Bank | 10.99 - 24.00% | ₹22,914 | 5 yrs | Up to 2.50% | Check Offer → |
| Tata Capital | 10.99 - 24.00% | ₹22,914 | 6 yrs | Up to 3% | Check Offer → |
| Bandhan Bank | 11.00 - 18.00% | ₹22,917 | 5 yrs | Up to 3% | Check Offer → |
| South Indian Bank | 11.00 - 16.00% | ₹22,917 | 5 yrs | 2% of loan amount + GST | Check Offer → |
| Bajaj Finserv | 11.00 - 30.00% | ₹22,917 | 5 yrs | Up to 3.50% | Check Offer → |
| SBI | 11.15 - 14.30% | ₹22,967 | 6 yrs | 1.50% of loan amount + GST | Check Offer → |
| Karur Vysya Bank | 11.50 - 17.00% | ₹23,083 | 5 yrs | 2% of loan amount + GST | Check Offer → |
| L&T Finance | 12.00 - 28.00% | ₹23,250 | 5 yrs | Up to 4% | Check Offer → |
| Hero FinCorp | 12.00 - 24.00% | ₹23,250 | 5 yrs | Up to 3% | Check Offer → |
| Muthoot Finance | 14.00 - 24.00% | ₹23,924 | 3 yrs | 2% + GST | Check Offer → |
| Piramal Finance | 14.00 - 26.00% | ₹23,924 | 5 yrs | Up to 4% | Check Offer → |
| Mahindra Finance | 14.00 - 24.00% | ₹23,924 | 4 yrs | Up to 3% | Check Offer → |
| Manappuram Finance | 22.00 - 28.00% | ₹26,733 | 3 yrs | 2.50% + GST | Check Offer → |
Know your exact monthly EMI, total interest, and get a full amortization schedule.
Open EMI Calculator →Axis Bank currently offers the lowest personal loan rate starting from 10.49% p.a. HDFC Bank (10.50%) and ICICI Bank (10.75%) also offer competitive rates for salaried professionals.
Most banks require a CIBIL score of 700+ for personal loans. If your score is lower, consider Bajaj Finserv, Tata Capital, or NBFCs that may approve loans with a 650+ score at higher interest rates.
Many banks offer instant personal loan approval within minutes for existing customers. HDFC Bank, ICICI Bank, and SBI offer pre-approved loans that can be disbursed within 10 seconds to 24 hours.
Basic documents include PAN card, Aadhaar card, last 3 months salary slips, 6 months bank statements, and address proof. Existing bank customers may get approval with minimal documentation.
Personal loans have lower interest rates (10-15%) compared to credit cards (24-42% p.a.). For amounts above ₹50,000 with repayment over 3+ months, a personal loan is significantly cheaper.